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201203901
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Last modified
7/9/2017 8:15:52 PM
Creation date
5/16/2012 12:27:34 PM
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DEEDS
Inst Number
201203901
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201203901 <br />THIS AGREEMENT (the "Agreement"), effective as of the Effective Date above, is made by and among the <br />Subordinating Lender, Owners and the Senior Lender named above. <br />LEONARD E. WILLIAMS AND JUDY K. WILLIAMS, HUSBAND AND WIFE, AS JOINT TENANTS AND <br />NOT AS TENANTS IN COMMON <br />(individually and collectively the "Owner") own the real property located at the above Property Address (the <br />"Property"). <br />The Subordinating Lender and the Trustee, if applicable, has an interest in the Property by virtue of a <br />REAL ESTATE DEED OF TRUST (WITH FUTURE ADVANCE CLAUSE) <br />(the "Existing Security Instrument") given by the Owner, covering that <br />Real Property description more particularly described in the attachment titled "Exhibit All <br />which document is dated the 29th day of November 2005 , which was filed in Instrument# <br />200512587 at page N/A (or as No N/A ) of the Records of the <br />Office of the Register of Deeds of the County of HALL State of Nebraska. The Existing <br />Security Instrument secures repayment of a debt evidenced by a note or a line of credit agreement extended to <br />LEONARD E WILLIAMS and JUDY K WILLIAMS <br />(individually and collectively `Borrower") by the Subordinating Lender, <br />N/p The Senior Lender has agreed to make a new loan or amend an existing loan in the original principal <br />amount NOT to exceed $ N/A (the "New Loan or Amended Loan"), provided that the New Loan <br />or Amended Loan is secured by a first lien mortgage on the Property (the "New Security Instrument") in <br />favor of the Senior Lender. If the New Loan or Amended Loan exceeds this amount, the Subordination <br />Agreement is VOID. <br />The Subordinating Lender is willing to subordinate the lien of the Existing Security Instrument to the lien <br />of the New Security Instrument under the terms set forth in this Agreement. <br />The Senior Lender has an existing loan in the original principal amount of $ 53,556.81 (the "Senior <br />Loan") to the Borrower, which was intended to be secured by a first lien mortgage on the Property. The <br />Senior Loan is secured by a Deed of Trust, executed by Borrower, as trustor, in favor of <br />WELLS FARGO FINANCIAL NATL BNK <br />as trustee for the benefit of <br />Wells Fargo Bank, N. A <br />as beneficiary and recorded on 1/10/2012 in Instrument# 201200238 at <br />page N/A (or as No. N/A )of the Records of the Office of the Register of Deeds of <br />the County of HALL , State of Nebraska (the "Senior Security Instrument"). <br />Through an inadvertent error, the Junior Security Instrument was recorded prior to the Senior Security <br />Instrument. <br />The Subordinating Lender is willing to subordinate the lien of the Existing Security Instrument to the lien <br />of the Senior Lender's Security Instrument under the terms set forth in this Agreement. <br />NOW, THEREFORE, for and in consideration of the above recitals, the covenants herein contained, and for good <br />and valuable consideration, the receipt of which is hereby acknowledged, the parties agree as follows: <br />A. Agreement to Subordinate <br />[N—jA--j Subordinating Lender hereby subordinates the lien of the Existing Security Instrument, and all of its <br />modifications, extensions and renewals, to the lien of the New Security Instrument. This Agreement is <br />SUBORDINATION ONLY/PC_NE (rev 06202011) Page 2 of <br />
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