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<br /> �� , ACREEMENT SUBORDINATING A MORTGAGT.�, , 1a��� `
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<br />,:;��''`� This AF;reement is made this 31st day of JULY , 1997,by and between Five �
<br />-:��,�.. �
<br />�_�� Points Bank Grand Island, A Nebraska Cor}�oration, of Grand Island,Nebraska, herein referred \G
<br /> �"`��' to as rIVE POINTS BANK,and The Equita b le Bui l ding an d L o an A s s o c i a t i on of Grand Island, ��
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<br />=';� Nebraska, A Federal Savings Bank, which has a principal place of business in Hall County, _�
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<br />-� Nebraska,herein refened to as Lender. —
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<br />._ The parties recite and declare that:
<br /> A. FIVE POINT3 BANK is the owner and holder of a certain Note and Mortgage
<br /> dated December 24, 1992, which Moitgage is recordcd in thc Register of Deeds Of�ice of Hall
<br /> County,Nebraska, on December 28, 1992, as Docunlent i3umber 92-II Ia2�3 af that �ount;,
<br /> covering,in part,the following described properiy:
<br /> See Exhibit"A"attached hereto and by this reference made part hereof.
<br /> g, Lander is about to loan the sum of Fifty-Eight Thousand Dollfus(558,000.00)on
<br /> _ a Note and Deed of Trust securing such Note to provide for the payment of a Note to Lender
<br /> secured by a Deed of Trust filed against the above described property
<br /> C. To induce Lender to make such loan, it is necessary that the Mortgage held by
<br /> •--�-- FTVE POINTS BANK,described in Section A above,be subordinated to the lien of the Deed of
<br /> Trust about to be made in favor of the Lender as beneficiary as set forth above as it applies to the
<br /> _ - above described property on1Y•
<br />- - -_= For the reasons set forth above, and consideration of the mutu.al covenants and promises
<br /> _—= af the parties hereto,FIVE POINTS BANK and Lcnder covenant and agree as follows:
<br />_�� 1, c�,bor ina ion. FIVE POINTS BANK hereby covenants, consents
<br /> -_�;�:� and agrees with Lender that the above-mentioned Mortgage is and shall contittue
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<br /> ��'�i°F!'�!! lo be subject to nnd subordinate in lien to the lien of the Deed of Trust about to be
<br />' �.
<br />_ _a-��y made to Lender stated above.
<br /> -;=�:�i�!;?`"1_ .,___:aM...:.... t., ..�„�GriPratinn of FiVE POINTS BANK so
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<br /> '. ��:; subordinatin� the Mortgage held by it to the Deed of 'I'rust made to Lender,
<br /> ~ Lender shall make the above described loan to Michael Fred Baxter.
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