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<br /> SUBORDINATION AGRF.EMENT
<br /> NOTICE: THIS SUBORDINATION AGREEMENT RF,SULTS 1N YOUR SECURITY .
<br /> ��`�`T "� INTEREST IN THE PROPERTY BECOMING SUBIECT TO AND OF LUWER �
<br /> , .,. ,�.:
<br /> '. PRIORITY TFIAN THE LIEN OF SOME OTHER QR LATEk SECURITY n�
<br />_°. .,�� . INSTRUIvIENT. �
<br />��;.
<br /> s;;,.�- °
<br />;::�.:,_'� '" THIS AGREEMENT, made this 7th day of December, 1998� by James A. and 7an
<br /> ''� � M. Roberg, owner of the Isnd hereinafter described and hcreinatt�r referred to as
<br />=�;: :';�:`.� "Owner," and United Nebraska Bank, present owner and halder of the Deed af Trust and
<br /> � � s Note first and hereinafter described and hereinafter referred to as"Beneficiary;"
<br /> ';f'yt
<br />�,: •; .:-�' WITNESSETH:
<br /> ;.,.,: .�
<br /> T: �,,
<br />_t-•�
<br />�'`'�r' '���� THAT, WHEREAS,James A. and Jan M. Rob�rg, husband and wife. did execute
<br />-�'`�y'�. � ''� a Deed of Tcust dated July 21, 1997, to United Nebraska Bank/Grand Island, United
<br /> �`�'''�r"';j• Nebraska Sank as Trustee, covering:
<br />='�`';-�:..�r;
<br />::,�� _ __
<br />.���M'��v� LOT FIVE (5),BLOCK TWO {2), BRENTWOOD SECOND SUBDIVISION, IIY THE
<br />_-""�3''"'�i`:.,, CITY OF GRAND ISLAND,HALL COUNTY, NEHRASKA.
<br />��,.�•:,; :
<br /> T������:
<br /> �;�',`�='" to secure a Note in the sum uf S20,000.00, dated July 21, 1997, in favAr of United
<br /> _��::w.
<br /> a�P,�'���� Nebraska Bank/Grand Island, which Dead of Trust was recorded July 30, 1997, aa
<br /> J__��
<br /> ��.�R;�� Document Number#97-106086, Official Records of Hall County; and
<br />�=_:
<br />�_.-`_�:°..
<br /> 1�-';'� WI-IEREAS, Owner has executed, or is about t4 execute, a Deed of'fruat and
<br /> �w=�="� Note in the sum of S115,700.00, dated December 7, 1998, in favar of United Nebra�ktt
<br /> ,�i,:�„�_� Bank, hereinafter referred to as "Lender," payable with interost and upon the term� end
<br /> ��,sv,a�,� conditions described therein,which Deed of Trust is to be recorded concunently herewith;
<br />�•.°';:�� and recorded as Document No. 98-112218.
<br />__,�,;-.���;,�:"v.•.
<br />�v;�`•,c-�
<br />_�,��:��,V,� IT I�RECOMMENDED THAT,PRIOR TO THE EXECUTION OF TIHIS
<br /> SUBORDINATION Ar1tEEMENT,THE PARTIES CONSULT WITH THEIR
<br />"'-�""�'� ATTORNEYS WITH RESPFC7C THERETO. -
<br />��r
<br />_����� WHEREAS, it is a condition precedent to obtaining said loan that said Deed of
<br /> -,,"."�.,.,
<br /> - Tnist last above mentioned shall unconditionally be and remain at all times a lien or•charge
<br /> . . upon the land hereinbefore described, prior and superior to the lien or charge of the Deed
<br /> of Tn�st �irst above mentioned; and
<br />� . }�: WHEREAS, Lender is willing to make said loan, provided the Deed of Trust
<br /> ;� securing the same is a lien or charge upon the above-described property prior and superior
<br /> . to the lien or chargc of the Deed of Trust first above mentianed and provided that
<br />_ � Beneficiary will specifically ancl unconditionally subordinate the lien or charge of the Deed
<br /> �• ' of Trust first above mentioned to the lien or charge of the deed of Trust in favor of
<br />. � � '� Lender;and
<br /> _ ___ .: _..
<br /> �;
<br /> 1 WHEREAS,it is to the mutual benefit of the parties hereto that Lender make su�h
<br /> loan to Owner; and Beneficiary is willing that the Deed of Trust secuiing the same shall,
<br /> � when recorded constitute a lien or charge upon said land which is unconditionally prior
<br />_ � and superior to ti�e lien or charge of the Deed of Trust first above mentioned.
<br /> � NOW, 'I'I-iEREFORE, in consideration of the mutual Uenefits accruing to the
<br /> � parties hereto ancl other vuluable consideration, the receipt and sufficiency of whicli
<br /> 1 consideration is hereby acknowledged, and in order to induce Lender to make the loan
<br /> �bove referred to, it is her�by declared, understood, and agreed as follows:
<br /> I
<br />
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