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<br />10/25/01 THU 12:32 FAX 1308 389 4644 ,;p J01 M0Fi GI NE 10002
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<br />200111301 SUBORDINATION OF DEED OF TRUST o
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<br />This instrument is made as of October25th , 20Q1, by Centris Federal Credit Union, ( "Lienholder "), a corporation having its
<br />principal place of business at 343 North 114th Street, Omaha, NE 68154 -5506.
<br />RECITALS
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<br />A. Lienholder is the holder of the beneficial interest in a note secured by a deed of trust (the "Sean-nd Deed of Trust ") on the
<br />mortgaged property, dated May 20, 2000, executed by Robert N. Olsen acid Cindy M. Olsen, and recorded on May 26, 2000, as
<br />Document No. 200004292 in the office of the Register of Deeds of Hall County, Nebraska/ and further described as follows (the
<br />"Mortgaged Property "): recorded as Document No. 200004292
<br />Lot Twenty Two (22) , in R & B Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />B. The Second Deed of Trust held by Lienholder is junior and subordinate to a deed of trust (the "First Deed of Trust ") held by
<br />Major Mortgage, it's successors and /or assigns, on the Mortgaged Property. Robert N. Olsen and Cindy M. Olsen, the owners
<br />( "Owner ") of the Mortgaged Property desire to refinance the First Deed of Trust loan on the Mortgaged Property.
<br />For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, Lienholder agrees as follows:
<br />1. The Second Deed of Trust held by Lienholder shall be subject and subordinate to a new deed of trust ( "New Deed of Trust ")
<br />securing a loan originated by Major Mortgage, it's Successors and/or assigns, pertaining to the Mortgaged Property and securing
<br />a note dated on or around October 25, 2001, in an original principal amount not to exceed Fifty Three Thousand Dollars
<br />($53,000.00), bearing interest at a rate not to exceed Seven and One- Eighth Per t (7.125%) per annum, and made primarily for
<br />the purpose of refinancing the First Deed of Trust loan. Recorded on Qyyl �j 5 601 As Document N o ,5166 I I 1 '-�00
<br />2. Lienholder acknowledges that Major Mortgage, it's successors and /or assigns, is relying on this instrument in making the loan
<br />secured by the New Deed of Trust. Lienholder agrees that the New Deed of Trust shall have the same validity, priority, and
<br />effect as if executed, delivered and recorded prior to the date of the Second Deed of Trust provided, however, that nothing in this
<br />instrument shall in any way alter, change or modify the terms and conditions of the Second Deed of Trust, or in any way release
<br />or affect the validity or priority of the Second Deed of Trust, except as provided herein.
<br />Entered into this2 5 th day of October, 2001.
<br />C'Pntri s Pedera_l Credit Union
<br />("Lienholder ")
<br />By:
<br />Name: Velia Narduzzo
<br />Title: Vice President
<br />STATE OF NEBRASKA
<br />COUNTY OF Douglas
<br />On this 25th day of October, 2001, before me a Notary Public, personally appeared Velia Narduz zo
<br />Ito me personally known to be the Vice President of Centris Federal
<br />Credit Union, and who being by me duly sworn, subscribed their name to the foregoing instrument as an officer of said
<br />corporation and acknowledged the execution of such instrument as the voluntary act and deed of said corporation.
<br />III GENERAL NOTARY-State of Nebraska
<br />E. WILKINS
<br />My Commission Expires: SUSAN 907 Comm, GAP6 W Z& 20W-
<br />Public
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