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200103989
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200103989
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Last modified
10/14/2011 3:38:57 AM
Creation date
10/20/2005 8:36:06 PM
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DEEDS
Inst Number
200103989
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200103989 <br />Account Number 0800573818 <br />Borrower Name(s): Robert A Schwieger and Penny L Schwieger <br />Page 2 of 3 Subordination Agreement <br />0 <br />deeds of trust therein before specifically described, contained in the deed of trust first above mentioned, <br />which provide for the subordination of the lien or charge thereof to another deed or trust or to another <br />mortgage or mortgages. <br />Beneficiary declares, agrees, and acknowledges that: <br />a. He /She consents to and approves (i) all provisions of the note and deed of trust in favor of Lender above <br />referred to, and (ii) all agreements, including but not limited to any Loan or escrow agreements, between <br />Owner and Lender for the disburse -ment of the proceeds of Lender's Loan; <br />b. Lender in making disbursements pursuant to any such agreement is under no obligation or duty to, nor <br />has Lender represented that it will, see to the application of such proceeds by the person or persons to <br />whom Lender disburses such proceeds and any application or use of such proceeds for purposes other than <br />those provided for in such agreement or agreements shall not defeat the subordination herein made in <br />whole or in part; <br />c. He /She intentionally and unconditionally waives, relinquishes and subordinates the lien or charge of the <br />deed of trust first above mentioned in favor of the lien or charge upon said land of the deed of trust in favor <br />of Lender above referred to and understands that in reliance upon, and in consideration of, this waiver, <br />relinquishment and subordination specific Loans and advances are being and will be made and, as part and <br />parcel thereof, specific monetary and other obligations are being and will be entered into which would not <br />be made or entered into but for said reliance upon this waiver, relinquishment and sub - ordination; and <br />d. An endorsement has been placed upon the note secured by the deed of trust first above mentioned that <br />said deed of trust has by this instrument been subordinated to the lien or charge of deed of trust in favor of <br />Lender above referred to. <br />NOTICE: THIS SUBORDINATION AGREEMENT CONTAINS A PROVISION WHICH ALLOWS <br />THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A <br />PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF <br />THE LAND. <br />(ALL SIGNATURES MUST BE ACKNOWLEDGED) <br />IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION <br />AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO. <br />Witness <br />(Signature) <br />By <br />(Typed Name) <br />Borrower <br />Borrower <br />LEGAL DESCRIPTION: LOT 2, SHARP ACRES SUBDIVISION, CITY OF GRAND <br />ISLAND, HALL COUNTY, NEBRASKA <br />
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