This section is from the book "The Law Of Contracts", by William Herbert Page. Also available from Amazon: Commercial Contracts: A Practical Guide to Deals, Contracts, Agreements and Promises.
The undersigned, A. B., Head-contractor -, C. D., Sub-contractor -, E. P., G. H. (etc.); and Material-men and laborers for the construction of a building upon a lot of ground owned by L. M. and described as follows: --------- [insert description of realty], in consideration of one dollar paid to each of them severally by X. Y., the receipt whereof is hereby acknowledged, and in further consideration of a loan of $--------granted by the said X. Y. to the said L. M.
and secured by mortgage upon said premises, do - hereby respectively postpone to the said mortgage lien any priority which they may have or might otherwise obtain by Mechanic's lien, or other similar lien upon said premises.
Dated at ---------, this --------- day of ---------, 19-.
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See references under Sec. 3821.
 
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