|
m
<br /> � � N p� �
<br /> m"' � cD m
<br /> 1 � n�� N Zm N m
<br /> o �o� , D �O o 0
<br /> N ZD p � �Z NO (�
<br /> w � G��0 N =W � (A
<br /> � � D p
<br /> � TA m r�) �
<br /> m�mp � D rai W �
<br /> � t�o(n � � �` �
<br /> 0 0 0 ._.._. m
<br /> � �
<br /> o� � �' z
<br /> O
<br /> WHEN RECORDED MAIL TO:
<br /> Equitabte Bank
<br /> Diers Avenue Branch
<br /> PO Box 160
<br /> Grand Island,NE 58802-0160 FOR RECORDER°S i�SE ONLY
<br /> NO-fICE: THIS SUBORDINATlON OF DEED OF TR€!ST RESULYS IN YOUR SECURITY INTEREST
<br /> IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN i'HE LfEN OF
<br /> SOME OTHER OR LATER SECURITY INSTftUMENT.
<br /> SUB�RDlNATIOIV OF DEED OF TRIJST
<br /> THIS SUBOFiDINATBOIU OF DEED OF TRUST dated August 75, 2012, is made and executed
<br /> among Equitable Bank 1Grand Island Region) ("Beneficiary"); Bank of Doniphan ("Trustee");
<br /> MARSH PROt�ERTIES LLC("Borrower"); and Equitable Bank("Lender").
<br /> SUBORDINATED INDEBTEDNESS. Beneficiary has extended the following describetl financial accommodations,secured
<br /> by the Real Property(the"Subordinated Indebtedness"):
<br /> The above mentioned trust deeds were given as securiry for Loans,described on trust deeds,in the original amount
<br /> of eighty thousand and NO/00($80.000)executed on June 12,2005 by trustor in favor of beneficiary.
<br /> SUBORDINATED DEED OF TRUST. The Su6ordinated Indebtedness is or wili be secured by the Real Property and
<br /> evidenced by a deed of trust dated June 12, 2008 from MARSH PROPERTIES LLC f"Trustor"1 to Bank of Doniphan
<br /> ("Trustee") in favor of Equitable Bank (Grand Island Region} ("geneficiary") (the "Su6ordinated Deed of Trust") and
<br /> recorded in Hall County,State of Nebraska as follows �
<br /> Deed of Trust dated June 92, 2008, and recorded in Hall County Register of Deeds on June 30, 2008, as
<br /> fnsirument#200865621. �
<br /> ftEAL PROPERTY DESCRIPTION. The Subortlinated Deed ofi Trust covers the following descri6ed real property ithe
<br /> "Real Property")located in Hall County,State of Nebraska:
<br /> Parcel A: Lot Two (2), in Block Thweniy-six (26}, in Packer and Barr's Second Addition to the City of Grand
<br /> Island,Hall County,Nebraska.
<br /> The Real Property or its address is commonly known as 206-208 North Custer, Grand Island, NE 68801. The Real
<br /> Property t�identification number is 4000 7 1 00 2. �
<br /> SUPERIOR WDEBTEDNESS. Lender has extended or has agreed to eMend the following described financial
<br /> accommodations to Borrower,secured by the Real Property(the"Superior Indebtedness")-
<br /> Trustor desires to obtain a loan in the amount ofi Twenty Two Thousand, Two Hundred Sixty Five and No/00
<br /> {522,265.00) from EQUITABLE BANK, 113-135 N. Locust St_, City of Grand island. County oF Hall, State of
<br /> Nehraska,herein�referred to as lender,but fender requires that such loan be secured by a trust deeci that will be
<br /> prior to the trust deed irt favor of beneficiary.
<br /> LENDER'S LIEN. Tne Superior indebtedness is or will be secured by the Real Property and evidenced 6y a�mortgage,
<br /> deed of trust, or other lien instrument, dated A�gust 15, 2012, from Borrower to Lender (the "Lender's Lien") and
<br /> recorded in Hall County,State of Nebraska as foilows
<br /> Deed oi Trust dated August 15, 2012 and recorded in HaII County Register of Deeds on August V, 2092 as
<br /> Instrumerrt No.209206831.
<br /> As a condition to the granting of the requested financial accommodations,Lender has required that the Lender's Lien be
<br /> and remain superior to the Subordinated Deed of Trust.
<br /> REQUESTED FINANCIAL ACCOMMODATIONS. Trustor, who may or may not be the same person or entity as
<br /> Borrower, and Beneficiary each want Lender to provide fnancial accommodations to Borrower in the form of the
<br /> Superior Indebtedness. Trustor and Beneficiary each represent and aeknowledge to L2nder that Beneficiary will bene�Fit
<br /> as a result of these financial accommodations from Lender to Borrower, and Beneficiary acknowfedges receipt of
<br /> valuable consideration for entering into this Subordination.
<br /> NOW THEREFORE THE PARTIES TO THIS SUBORDINATION HEREBY AGREE AS POLLOWS:
<br /> SUBORDINATION. The Subordinated Deed of Trust and the Subordinated Indebtedness secured by the Subordinated�
<br /> Deed of Trust is and shall be subordinatetl in all respects to Lender's Lien and the Superior Indebtedness, and it is
<br /> agreed that Lender's Lien shall be and remain,at all times,prior and superior to the lien of the Subordinated Deed of
<br /> Trust. Beneficiary also su6ordinates to Lender's Lien all other Security Interests in the Real Property held by
<br /> Beneficiary, whether now existing or hereafter acquired. The words "Security Interest" mean and i�dude�� without
<br /> IimitaYion any type of collateral security,whether in the form of a lien, charge, mortgage, deed of trust, assignment,
<br /> pledge, chattel mortgage, chattel �trust, factor's lien, equipment trust, condi[ional sale, trust receipt, lien or tltle
<br /> retention contract,lease or consignment intended as a security device,or any other security or lien inrerest whaisoever,
<br /> whether creaYed by law,contract,or otherwise.
<br /> BENEFICIARY'S REPRESENTATlONS AND WARRANTIES. Beneficiary represents and warrants to Lender that: (A7 no
<br /> representations or agreements ef any kind fiave been made to Benefiiciary which woWd limit or qualify in any way the
<br />
|