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NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY]
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY sc�
<br />THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT.
<br />THIS AGREEMENT, made this 2�- day of �hereinafter 2000, by IRA L. and LORRAINE
<br />SIMONS owners of the l .nd hereinafter describe and referred to as "Owners ", and
<br />the CITY OF GRAND ISLAND, NEBRASKA, A Municipal Corporation, present owner and
<br />holder of the Real Estate Lien first hereinafter described and hereinafter referred to as "Secured
<br />Party ".
<br />WITNESSETH
<br />THAT WHEREAS, Ira L. and Lorraine Simons execute a Real Estate Lien to, Secured Party
<br />covering:
<br />806 East 14th, Grand Island, Nebraska
<br />Lots 10, 11 and 12, Block 15, in Meth's Addition to the City of Grand Island, Hall
<br />County, Nebraska.
<br />To secure a Note in the sum of $10,150.00 dated June 19, 1996 in favor of the City of Grand
<br />Island, Nebraska, which Real Estate Lien was recorded July 18, 1996 in Document Number 96-
<br />105608, Official Records of Hall County, Nebraska and
<br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of
<br />$26,000.00 dated ` maw 28, 9,�O , recorded m 2`t (2� in favor of First Federal
<br />Lincoln Bank, recorded in Document # 92L-XX-D2 3 hereinafter referred to as "Lender ",
<br />payable with interest and upon the terms and conditions described therein, which Deed of Trust
<br />is to be recorded concurrently herewith; and
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Deed of Trust last above
<br />mentioned shall unconditionally be and remain at all times a lien or charge upon the land
<br />hereinabove described, prior and superior to the lien or charge of the Real Estate Lien first above
<br />mentioned; and
<br />WHEREAS, Lender is willing to make said loan provided the Deed of Trust securing the same is
<br />a lien or charge upon the above described property prior and superior to the lien or charge of the
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<br />SUBORDINATION
<br />AGREEMENT
<br />200002624
<br />•°
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY]
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY sc�
<br />THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT.
<br />THIS AGREEMENT, made this 2�- day of �hereinafter 2000, by IRA L. and LORRAINE
<br />SIMONS owners of the l .nd hereinafter describe and referred to as "Owners ", and
<br />the CITY OF GRAND ISLAND, NEBRASKA, A Municipal Corporation, present owner and
<br />holder of the Real Estate Lien first hereinafter described and hereinafter referred to as "Secured
<br />Party ".
<br />WITNESSETH
<br />THAT WHEREAS, Ira L. and Lorraine Simons execute a Real Estate Lien to, Secured Party
<br />covering:
<br />806 East 14th, Grand Island, Nebraska
<br />Lots 10, 11 and 12, Block 15, in Meth's Addition to the City of Grand Island, Hall
<br />County, Nebraska.
<br />To secure a Note in the sum of $10,150.00 dated June 19, 1996 in favor of the City of Grand
<br />Island, Nebraska, which Real Estate Lien was recorded July 18, 1996 in Document Number 96-
<br />105608, Official Records of Hall County, Nebraska and
<br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of
<br />$26,000.00 dated ` maw 28, 9,�O , recorded m 2`t (2� in favor of First Federal
<br />Lincoln Bank, recorded in Document # 92L-XX-D2 3 hereinafter referred to as "Lender ",
<br />payable with interest and upon the terms and conditions described therein, which Deed of Trust
<br />is to be recorded concurrently herewith; and
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Deed of Trust last above
<br />mentioned shall unconditionally be and remain at all times a lien or charge upon the land
<br />hereinabove described, prior and superior to the lien or charge of the Real Estate Lien first above
<br />mentioned; and
<br />WHEREAS, Lender is willing to make said loan provided the Deed of Trust securing the same is
<br />a lien or charge upon the above described property prior and superior to the lien or charge of the
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