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SUBORDINATION AGREEMENT Robert W. Giesenhagen hereby confirms that Note payable to Meadow Ranch Co. dated January Deed of Trust which is recorded as Document No. office of the Register of Deeds of Hall County, which secures that Promissory Note both are now effect. 20010714; his Promissory 22, 1998, and the 98- 101202 in the Nebraska, and in full force and Robert W. Giesenhagen and Meadow Ranch Co. agree that the final payment date of the aforesaid Promissory Note has been extended to December 1, 2002. Meadow Ranch Co. hereby covenants and agrees that the lien of the Deed of Trust which is recorded as Document No. 98- 101202 in the office of the Register of Deeds of Hall County, Nebraska, and which creates a lien in favor of Meadow Ranch Co. upon Lot Eleven (11) in Francis Court Subdivision in Grand Island Hall County, Nebraska, is and shall continue to be subordinate to any Deed of Trust heretofore or hereafter executed by Robert W. Giesenhagen as the owner of the above described Lot and as Trustor with United Nebraska Bank as beneficiary to secure a loan from that Bank to Trustor the proceeds of which are applied exclusively toward the costs of construction of a residence upon that Lot and that United Nebraska Bank may rely upon this Subordination Agreement in making any such construction loans to Robert W. Giesenhagen. Executed,this day of October, 2000. MEADOW RANCH CO. Robert W. Gies ,o4hagen i- By red H. Bosselman, President STATE OF NEBRASKA, COUNTY OF HALL )ss: On this aD� day of October, 2000, before me, the undersigned, a Notary Public, duly commissioned and qualified for in said County, personally came Robert W. Giesenhagen, to me known to be the identical person whose name is affixed to the foregoing instrument and acknowledged the execution thereof to be his voluntary act and deed. Witness my hand and Notarial Seal the day and year last above written. GENERAL NOTARY-Stale of Nebraska DONNA PREISENDORF Notary ublic S` My Comm. Exp. Dec. 26,200 y 1