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202104257
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Last modified
5/21/2021 10:22:49 AM
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5/21/2021 10:22:49 AM
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202104257
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m� <br />C� <br />LO c <br />N -- <br />m nn <br />rn DLn <br />171 <br />Return to Cit of Grand Island after Recording. <br />U) <br />SUBORDINATION AGREEMENT <br />COMES NOW the City of Grand Island, Nebraska, secured party/beneficiary and hereby <br />partially subordinates its trust deed/real estate lien recorded November 27, 2013 on the <br />following described real estate: <br />Lot Four (4), Block Two (2), Koehler Place, an Addition to the City of Grand <br />Island, Hall County, Nebraska. <br />It is the intent of this Agreement that the trust deed for amounts loaned by First National <br />Bank of Omaha to Lois Stade (Borrower)., that was filed May 12, 2021 as Instrument Number <br />202103996 shall be superior to the trust deed/real estate lien of the City of Grand Island, its <br />successors and assigns recorded May 12, 2021 up to the amount of $82,000.00 plus interest <br />and amounts advanced to protect the collateral. Thereafter, the City of Grand Island's lien shall <br />have priority. It is further understood that this subordination shall include all current obligations, <br />extensions, renewals, advances or modifications made by the City of Grand Island, Nebraska to <br />Borrowers which is secured by the trust deed/real estate lien recorded December 2, 2013 as <br />Document Number 201309408 in the records of the Register of Deeds of Hall County, <br />Nebraska. Nothing in this Subordination Agreement is intended as a promise to provide <br />financing or make advances to Borrowers by the City of Grand Island, Nebraska and it is not the <br />intention of the City of Grand Island, Nebraska to warrant or guarantee the obligations of <br />Borrowers but merely to partially subordinate its lien interests under the instrument recorded at <br />Document Number 201309408 It is understood that First National Bank of Omaha intends to <br />lend funds to Borrowers but that the subordinated amount is not to exceed $82,000.00 plus <br />interest and amounts advanced to protect the collateral. <br />Nothing in this instrument is intended to relieve Borrowers of their obligation to the City of Grand <br />Island, Nebraska or to subordinate any other lien interests including, but not limited to, real <br />estate taxes and special assessments. <br />
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