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SUBORDINATION AGREEMENT
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<br />WHEREAS, Equitable Building & Loan Association the undersigned, hereinafter referred to as First Party, is
<br />the owner of the mortgage dated May 12, 1999 and recorded on the May 17, 1999, as document No. 99- 105102 in
<br />Vol. N/a at page N/a , in the office of the Register of Deeds, Hall County, State of Nebraska, securing a debt in the
<br />original amount of $9,600.00 , and covering the following described real estate situated in Hall County, State of
<br />Nebraska, to -wit:
<br />LOT 2, KNICKREHM SEVENTH ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF
<br />WHEREAS, James and Debra Petersen have executed a mortgage NOT TO EXCEED the amount of
<br />$ 555, !o SO . oo , dated �_/ ,,2003 to Principal Residential Mortgage, Inc., hereinafter
<br />referred to as Second Party covering the above described real estate and securing a note of like amount, which
<br />mort gage . filed for record in the office of the Register of Deeds, Hall County, State of Nebraska on
<br />/ 3 /03 at q: 6V o'clock, and recorded as document No. :003' 13a c , in Book
<br />of Mortgages, at page , of the records of said County and State; and
<br />WHEREAS, Second Party desires that the lien of its mortgage above referred to shall be prior and superior to
<br />any right, title, interest, claim or 'lien which the First Party may have in or to the said premises by virtue of its mortgages
<br />first above described;
<br />NOW, THEREFORE, the undersigned in consideration of the premises and the sum of One Dollar ($1.00) to
<br />the First Party in hand paid, the receipt whereof in hereby acknowledged, the said First Party does subordinate all rights
<br />created by the mortgages above described to the undersigned First Party, or in any other manner, to the lien of the
<br />mortgage to the said Second Party above described, and agrees that the said mortgage to said Second Party shall
<br />constitute a first and prior lien upon the real estate described in the mortgage of said Second Party, superior to any right,
<br />title interest, claim or lien which the First Party may have in or on said premises, to the same extent as though the
<br />mortgage to Second Party was actually executed and recorded prior to the mortgages of the undersigned above
<br />described.
<br />IN WITNESS WHEREOF, the said First Party has hereunto caused this instrument to be signed on its behalf by
<br />'Jut: LbMVe)jnV , thereunto duly authorized so to do this day
<br />7 / G ,2003.
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<br />RETURN TO (NLS):
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<br />RATIONS TITLE AGENCY INC.
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<br />5370 W. 95TH ST.
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<br />SHAWNEE, KS 66207
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<br />Prepared by:
<br />Nati itle 5 95th St
<br />Shawnee Mission KS 66207
<br />(913) 341 -2705
<br />SUBORDINATION AGREEMENT
<br />V3NL3��t a.-�
<br />WHEREAS, Equitable Building & Loan Association the undersigned, hereinafter referred to as First Party, is
<br />the owner of the mortgage dated May 12, 1999 and recorded on the May 17, 1999, as document No. 99- 105102 in
<br />Vol. N/a at page N/a , in the office of the Register of Deeds, Hall County, State of Nebraska, securing a debt in the
<br />original amount of $9,600.00 , and covering the following described real estate situated in Hall County, State of
<br />Nebraska, to -wit:
<br />LOT 2, KNICKREHM SEVENTH ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />NEBRASKA, ACCORDING TO THE RECORDED PLAT THEREOF
<br />WHEREAS, James and Debra Petersen have executed a mortgage NOT TO EXCEED the amount of
<br />$ 555, !o SO . oo , dated �_/ ,,2003 to Principal Residential Mortgage, Inc., hereinafter
<br />referred to as Second Party covering the above described real estate and securing a note of like amount, which
<br />mort gage . filed for record in the office of the Register of Deeds, Hall County, State of Nebraska on
<br />/ 3 /03 at q: 6V o'clock, and recorded as document No. :003' 13a c , in Book
<br />of Mortgages, at page , of the records of said County and State; and
<br />WHEREAS, Second Party desires that the lien of its mortgage above referred to shall be prior and superior to
<br />any right, title, interest, claim or 'lien which the First Party may have in or to the said premises by virtue of its mortgages
<br />first above described;
<br />NOW, THEREFORE, the undersigned in consideration of the premises and the sum of One Dollar ($1.00) to
<br />the First Party in hand paid, the receipt whereof in hereby acknowledged, the said First Party does subordinate all rights
<br />created by the mortgages above described to the undersigned First Party, or in any other manner, to the lien of the
<br />mortgage to the said Second Party above described, and agrees that the said mortgage to said Second Party shall
<br />constitute a first and prior lien upon the real estate described in the mortgage of said Second Party, superior to any right,
<br />title interest, claim or lien which the First Party may have in or on said premises, to the same extent as though the
<br />mortgage to Second Party was actually executed and recorded prior to the mortgages of the undersigned above
<br />described.
<br />IN WITNESS WHEREOF, the said First Party has hereunto caused this instrument to be signed on its behalf by
<br />'Jut: LbMVe)jnV , thereunto duly authorized so to do this day
<br />7 / G ,2003.
<br />
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