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STATE OF NEBRASKA <br />COUNTY OF HALL <br />)ss. <br />GENERAL NOTARY - State of Nebraska <br />RANAE EDWARDS <br />My Comm. Exp. Dec. 29, 2016 <br />m T 1 m <br />a n :i <br />f10 X <br />,•4. z <br />SUBORDINATION AGREEMENT <br />By <br />r\) <br />co <br />The foregoing instrument was acknowledged before me on Mx 0 <br />2015, by Jeremy L. Jensen, Mayor of the City of Grand Island, Nebraska. <br />Q on FziA)47%al, <br />Notary Public <br />COMES NOW the City of Grand Island, Nebraska, secured party /beneficiary and hereby <br />subordinates its trust deed /real estate lien recorded December 2, 2013 on the following <br />described real estate: <br />Lot Four (4), Block Two (2), Koehler Place, an Addition to the City Of Grand Island, <br />Hall County, Nebraska. <br />It is the intent of this Agreement that the trust deed for amounts loaned by First National <br />Bank to Lois Stade (Borrower) that has been or is about to be filed, shall be superior to the trust <br />deed /real estate lien of the City of Grand Island, its successors and assigns recorded December <br />2, 2013, up to the amount of $57,000 plus interest and amounts advanced to protect the <br />collateral. Thereafter, the City of Grand Island's lien shall have priority. It is further understood <br />that this subordination shall include all current obligations, extensions, renewals, advances or <br />modifications made by the City of Grand Island, Nebraska to Borrowers which is secured by the <br />trust deed /real estate lien recorded December 2, 2013 as Document Number 201309408 in the <br />records of the Register of Deeds of Hall County, Nebraska. Nothing in this Subordination <br />Agreement is intended as a promise to provide financing or make advances to Borrowers by the <br />City of Grand Island, Nebraska and it is not the intention of the City of Grand Island, Nebraska <br />to warrant or guarantee the obligations of Borrowers but merely to subordinate its lien interests <br />under the instrument recorded at Document Number 201309408. It is understood that First <br />National Bank intends to lend funds to Borrower /s but that the amount that will be superior to the <br />City of Grand Island's lien is not to exceed $57,000 plus interest and amounts advanced to <br />protect the collateral. <br />Nothing in this instrument is intended to relieve Borrowers of their obligation to make <br />payments to the City of Grand Island, Nebraska or to subordinate any other lien interests <br />including, but not limited to, real estate taxes and special assessments. <br />Dated: (Iwni \ 0 a o l 'p City of Grand Island, Nebraska <br />L. <br />