|
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 /> N G7�0 N 2W � Z
<br /> � �7 A ffl � r�1 0 �
<br /> m�mp � D rai N �
<br /> � cno m � � �. �
<br /> 0 0 0 ._.._. m
<br /> � �
<br /> o� � �' z
<br /> O
<br /> WHEN RECOFiDED MAIL TO:
<br /> Equitable Bank �
<br /> Diers Avenue Branch
<br /> PO Sox 160
<br /> Grand Island,NE 68802-0160 FOR RECORDEft'S USE ONLY
<br /> NOT6CE: THIS SUBORDI9VATION OF DEED OF TRUST RESl9LTS IN YOUR SECURITY INTEREST
<br /> IIU THE PROPEF�TY BECOMWG SUBJECT TO AND OF LOWER PRIORITY TFEAN THE LIEN OF
<br /> SOME OTHER OR LATER SECUFfITY INSTRUMENT.
<br /> SUBORDIIlIAT1�N OF DEED OF TRUSI"
<br /> THIS SUBORDINATION OF DEED OF TRUST dated August 15, 20'f 2, is made and exscuted
<br /> among Bank of. Doniphan ("Beneficiary"); Bank of Doniphan ("Trustee"); MARSH PROPERi'iES
<br /> LLC("Borrower");and Equitable Bank("Lender").
<br /> SUBORDINATED INDEBTEDNESS. Beneficiary has extended the following described financial accommodations,secured
<br /> by the Real Properiy(the"Subordinated Indebtedness"):
<br /> The above mentioned trust deeds were given as security for Loans,described in trust deeds,in the original amount
<br /> of Two Hundred Thirty-Five Thousand.and NOl00�$235,OOQ.00)executed on Pebruary 7,2010 by trustor in favor
<br /> of beneficiary.
<br /> $UBORDINATED DEED OF TRUST. The Subordinated Indebtedness is or will be secured by the Real Property and
<br /> evidenced by a deed of trust dated February 1, 2012 from MARSH PROPERTIES LLC("Trustor")to Bank of Doniphan
<br /> ("Trustee") in favor of Bank of �oniphan ("Beneficiary") (the "Subordinated Deed of TrusY'1 and recorded in Hall
<br /> County,State of Nebraska as follows:
<br /> Deed ofi Trust dated February 1,2070,and recorded in the Hall County Register of Deeds on February 2,2010,as
<br /> Instrument#201000743.
<br /> REAL PROPERTY �ESCRIPTION. The Subordinated Deed of Trust covers the fo4lowing described real property (the
<br /> "Real P�operty")located in Hall County,State of Nebresl<a:
<br /> The Northerly Sixty-nine 169) feet of the Westerly Thirty-five l35) feet of Lot Five (5) in Block Eight(8) in H.G.
<br /> Clarks Addition to the City of Grand Island,Hall County,Nebrasl<a.
<br /> The Reai Property or its address is commonly known as 807-809 N Elrre St, Grand Island, NE 688Q1. The Real
<br /> Property tax identification number is 400030268.
<br /> SUPERIOR INDEBTEDNESS. Lender has extended or has agreed to extend the following described financial
<br /> accommodations to�Borrower,secured by the Real Property(the"Superior Indebtedness"'1:
<br /> Trustor desires to obtain a loan in the amount of Twenty Two Thousand, Two Hundred Sixty Five and No/00
<br /> 1522,265.00) from EQUITABLE BRNK, 913-915 N. Locust St., City of Grand Island, County of Hall,State of
<br /> Nebrasl<a.herein referred to as lender,but lender requires that such loan be secured by a trust deed that will 6e
<br /> prior to the.trust deed in favor of beneficiary.
<br /> LENDER'S L1EN. The Superior Indebtedness is or will be secured by the Real Property and evidenced by a mortgage,
<br /> deed of trust, a;other lien instrument, dated August 15, 2012, from Borrower to Lender (the "Lender's Lien") and
<br /> recorded in Hall County,State oi Ne6raska as follows:
<br /> Deed of Trust dated August 75, 20'i2 and recorded in Hall Caunty Register of Deeds on August 17, 20'12 as
<br /> Instrument No.2Q120631.
<br /> As a eonditiOn to the granting of the requested financiai accommodations,Lender has required that the Lender's Lien be
<br /> a�d remain superior to the Subordinated Deed of Trust.
<br /> REQUESTED FINANqAL ACCOMMODATIONS. Trustor, who may or may not be the same person or entity as
<br /> Borrower, and Beneficiary each want Lender to provide financial accommodations to BorYower in the €orm of the
<br /> Superio�Indebtedness. Trustor and Beneficiary each represent and acknowledge to Lender that Beneficiary will benefit
<br /> as a result of these financial accommodations from Lender to Borrower, and Beneficiary acl<nowledges receipt of
<br /> valuable consideration for entering inio this Subordination.
<br /> NOW THEREFORE THE PARTIES TO THIS SUBORDINATION HEREBY AGREE AS FOLLOWS:
<br /> SUBORDINATION. The Subordinated Deed of Trust and the Subordinated Indebtedness secured by the Subordinated
<br /> Deed of Trust is and shall be subordinated in aU respects to Lender's Lien and the Superior fndebtedness, and it is
<br /> agreed Yhat Lender's Lien shall be and remain,at all times,prior and superior to the lien of the Subo�dinated Deed of
<br /> Trust. Beneficiary also subordinates to Lender's Lien all other Security Interests in the Real Property held by
<br /> Beneficiary, whether �ow existing or hereafter acquired. The words "Security Interest" mean and include without
<br /> limitation any type of collaYeral security, whether in the form of a lien, charge, mortgage, deed of trust, assignment,
<br /> piedge, chattel mortgage, chattel trust, factor's lien,. equipment. trust, conditional sale, trust receipt, lien or title
<br /> retention contract,lease or consignmeni intended as a security device,or any other security or lien interest whatsoever,
<br /> wfiether createtl by law,contract,or otherwise.
<br /> BENEFICIARY'S REPRESENTATIONS AND WARRANTIES. Beneficiary represents and warrants to Lender that: (A) no
<br /> representations or agreements of any kind have been made to Beneficiary which would limit or qualify in any way the
<br />
|