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- )C ) V <br />UA5 � <br />000 fy <br />co <br />rA <br />C Y' <br />N `0 <br />3 <br />is <br />0 <br />* This Space Reserved for Register of Deeds * <br />CORRECTIVE SUBORDINATION AGREEMENT <br />cT <br />rT <br />COMES NOW the City of Grand Island, Nebraska, secured party/beneficiary and hereby subordinates its trust <br />deeds /real estate lien recorded December 2, 2013 on the following- described real estate: <br />Lot Four (4), Block Two (2), Koehler Place, an Addition to the City Of Grand Island, Hall <br />County, Nebraska. <br />It is the intent of this Agreement that the trust deed for amounts loaned by First National Bank to Lois Stade <br />(Borrower) recorded on May 31, 2016 as Document Number 201603370 in the records of the Hall County Register of <br />Deeds shall be superior to the trust deed/real estate lien of the City of Grand Island, its successors and assigns recorded <br />December 2, 2013, up to the amount of $57,000.00 plus interest and amounts advanced to protect the collateral. <br />Thereafter, the City of Grand Island's liens shall have priority. It is further understood that this subordination shall <br />include all current obligations, extensions, renewals, advances or modifications made by the City of Grand Island, <br />Nebraska to Borrower which are secured by the trust deed /real estate lien recorded December 2, 2013 as Document <br />Number 0201309408 in the 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 Borrower by the City of Grand Island, <br />Nebraska and it is not the intention of the City of Grand Island, Nebraska to warrant or guarantee the obligations of <br />Borrower but merely to subordinate its lien interests under the instruments recorded at Document Number <br />0201309408. It is understood that deed of trust and lien of First National Bank will be superior to the City of Grand <br />Island's lien not to exceed $57,000 plus interest and amounts advanced to protect the collateral. <br />Nothing in this instrument is intended to relieve Borrower of her obligation to make payments to the City of <br />Grand Island, Nebraska or to subordinate any other lien interests including, but not limited to, real estate taxes and <br />special assessments. <br />Dated: 11,__CArnkara8 a f 6 City of rand Island, Nebraska <br />STATE OF NEBRASKA) <br />COUNTY OF HALL <br />)ss. <br />BY . � _ <br />Jerem ensen, ay. <br />The foregoing instrument was acknowledged before me on Qiv,r o ?$ , 2016, by Jeremy L. <br />Jensen, Mayor of the City of Grand Island, Nebraska. <br />Notary ublic <br />N <br />eD <br />7) <br />CD <br />CO <br />(n <br />(b , <br />0 <br />