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M n M pa C =C Z n A lS� rn r R' CD SUBORDINATION AGREEMENT f �-L co n w U, NOTICE; THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECUIRTY INSTRUMENT. t�v THIS AGREEMENT, made this i0 day ox�,�' 2004, by Matthew A. Treffer and Kamra K. Treffer, owners of the land hereinafteYdescribed and hereinafter referred to as "Owners ", and Mountain West Financial, Inc., present owner and holder of the Mortgage and Note first and hereinafter described and hereinafter referred to as "Beneficiary ". WITNESSETH: THAT, WHEREAS, Matthew A. and Kamra K. Treffer, Husband and wife, DID EXECUTE a Deed of Trust dated March 18, 2002 to the City of Grand Island, covering: Lot Four (4), Houghkirk Subdivision to the City of Grand Island, NE, Hall County, a/k/a 1221 Warren Lane To secure a Note in the sum of $12,980.00 dated March 18, 2002 in favor of the City of Grand Island, which Deed of Trust was recorded March 20, 2002 as Document No. 200203049 in the Official Register of Deeds Office of Hall County; and WHEREAS, Owner has executed, or are about to execute, a Deed of Trust and Note in the sum of $62,900.00 dated February, 2004 in favor of Full Spectrum Lending, Inc., hereinafter referred to as "Lender" payable with interest and upon the terms and conditions described therein, which Deed of Trust is to be recorded concurrently herewith; and as Document No. a-my -olgns IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO. WHEREAS, it is a condition precedent to obtaining said loan that said Deed of Trust last above mentioned shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the lien or charge of the Deed of Trust first above mentioned; and WHEREAS, Lender is willing to make said loan, provided the Deed of Trust securing the same is a lien or charge upon the above - described property prior and superior to the lien or charge of the Deed of Trust first above mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lien or charge of the Deed of Trust first above mentioned to the lien or charge of the Deed of Trust in favor of Lender; and WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owners; and Beneficiary is willing that the Deed of Trust securing the same shall, when recorded constitute a lien or charge upon said land which is unconditionally prior and superior to the lien or charge of the Deed of Trust first above mentioned. O � N N O O __z _ O � CO O N ai Z �^ O