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F <br />miA <br />+, <br />ill <br />SUBORDINATION AGREEMENT <br />rrt <br />—c _. <br />1--4 C.':+ 'r7 <br />fal <br />r- <br />1-4 1-4 <br />CO <br />COMES NOW the City of Grand Island, Nebraska, secured party/beneficiary and hereby <br />subordinates its trust deed/real estate lien recorded September 29, 2016 on the following <br />described real estate: <br />THE WESTERLY TWO THIRDS (W 2/3) OF LOT SIX (6), IN BLOCK FIFTY FIVE (55) OF THE <br />ORIGINAL TOWN, NOW CITY OF GRAND ISLAND, HALL COUNT, NEBRASKA. <br />It is the intent of this Agreement that the trust deed for amounts loaned by Pinnacle Bank <br />to FAmos Construction (Borrower) that has been or is about to be filed, shall be superior to the <br />trust deed/real estate lien of the City of Grand Island, its successors and assigns recorded <br />September 29, 2016, up to the amount of $60,000 plus interest and amounts advanced to <br />protect the collateral. Thereafter, the City of Grand Island's lien shall have priority. It is further <br />understood that this subordination shall include all current obligations, extensions, renewals, <br />advances or modifications made by the City of Grand Island, Nebraska to Borrowers which is <br />secured by the trust deed/real estate lien recorded September 29, 2016 as Document Number <br />201606457 in the records of the Register of Deeds of Hall County, Nebraska. Nothing in this <br />Subordination Agreement is intended as a promise to provide financing or make advances to <br />Borrowers by the City of Grand Island, Nebraska and it is not the intention of the City of Grand <br />Island, Nebraska to warrant or guarantee the obligations of Borrowers but merely to subordinate <br />its lien interests under the instrument recorded at Document Number 201606457. It is <br />understood that Pinnacle Bank intends to lend funds to Borrower/s but that the amount that will <br />be superior to the City of Grand Island's lien is not to exceed $60,000 plus interest and amounts <br />advanced to 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: <br />.\ at, ,w)19 <br />STATE OF NEBRASKA <br />)ss. <br />COUNTY OF HALL <br />City of Grand Island, Nebraska <br />By `j�.'• ..��+c <br />er G. Steele, Mayor <br />The foregoing instrument was acknowledged before me on <br />2019, by Roger G. Steele, Mayor of the City of Grand Island, Nebraska. <br />1 XBEFIAL NOTARY -1of NebraskaF� �, <br />RPJdAE EDWANDegate Pc4c-cleLiJG rIC- , <br />VI 0oanp'Exp. December �' Notary Public <br />ON 1NIMISNI SV a31131N3 <br />