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WHEREAS, the parties to this agreement are the old lender, namely Platte Valley State '' Cy,
<br />Bank & Trust Company, its Successors and Assigns, hereinafter called LENDER #1; and the `D
<br />new lender, namely Geneva State Bank, hereinafter called LENDER #2 and Shafer Properties,
<br />L.L.C., hereinafter called BORROWER,
<br />WHEREAS, BORROWER is the owner of the real estate, hereinafter called
<br />PROPERTY described as:
<br />Tract 1
<br />Lot 3, Crane Valley 4th Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />Tract 2
<br />Lot 4, Crane Valley 4th Subdvidion, in the City of Grand Island, Hall County, Nebraska.
<br />WHEREAS, BORROWER has executed a Note in a principal amount of $80,135.50,
<br />secured by Deed of Trust in favor of LENDER #1, covering the PROPERTY, Tract 1 recorded
<br />on January 28, 2004 as Inst. No. 200400824 and Tract 2 recorded on January 28, 2004 as Inst.
<br />No.200400826, in the office of the Register of Deeds of Hall County, Nebraska.
<br />WHEREAS, BORROWER will be executing or has executed a Note in a principal
<br />amount not to exceed $1,300,000.00 to be secured by a Mortgage/Deed of Trust in favor of
<br />LENDER #2, covering the PROPERTIES, and to be recorded in the office of the Register of
<br />Deeds of Hall County, Nebraska.
<br />NOW THEREFORE, in consideration of $1.00 and other valuable consideration, receipt
<br />whereof is hereby acknowledge, LENDER #1 agrees to subordinate its liens as shown and
<br />referred to above, to the lien of LENDER #2 as shown and referred to above, but only to the
<br />extent of the principal amount of the new lien as shown in the above paragraph, plus any accrued
<br />interest, taxes, insurance or costs advanced to protect its security.
<br />Dated this 23rd day of August, 2004.
<br />Platte Valley State Bank & Trust Company (LENDER #i)
<br />B:
<br />Phil Lan o enior Vice President
<br />STATE OF NEBRASKA )
<br />)SS:
<br />COUNTY OF HALL )
<br />Acknowledged before me this a3- day of Apust , 2004 by Phil Landon its Senior
<br />Vice President of Platte Valley State Bank & Trust Comp=A-
<br />LISA rporation.
<br />GENERAL NOTARY • State of Nebraska KLEIN Notary Public
<br />MY Comm. En. March Mn 2007
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<br />200408408
<br />UNILATERAL SUBORDINATION
<br />AGREEMENT
<br />WHEREAS, the parties to this agreement are the old lender, namely Platte Valley State '' Cy,
<br />Bank & Trust Company, its Successors and Assigns, hereinafter called LENDER #1; and the `D
<br />new lender, namely Geneva State Bank, hereinafter called LENDER #2 and Shafer Properties,
<br />L.L.C., hereinafter called BORROWER,
<br />WHEREAS, BORROWER is the owner of the real estate, hereinafter called
<br />PROPERTY described as:
<br />Tract 1
<br />Lot 3, Crane Valley 4th Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />Tract 2
<br />Lot 4, Crane Valley 4th Subdvidion, in the City of Grand Island, Hall County, Nebraska.
<br />WHEREAS, BORROWER has executed a Note in a principal amount of $80,135.50,
<br />secured by Deed of Trust in favor of LENDER #1, covering the PROPERTY, Tract 1 recorded
<br />on January 28, 2004 as Inst. No. 200400824 and Tract 2 recorded on January 28, 2004 as Inst.
<br />No.200400826, in the office of the Register of Deeds of Hall County, Nebraska.
<br />WHEREAS, BORROWER will be executing or has executed a Note in a principal
<br />amount not to exceed $1,300,000.00 to be secured by a Mortgage/Deed of Trust in favor of
<br />LENDER #2, covering the PROPERTIES, and to be recorded in the office of the Register of
<br />Deeds of Hall County, Nebraska.
<br />NOW THEREFORE, in consideration of $1.00 and other valuable consideration, receipt
<br />whereof is hereby acknowledge, LENDER #1 agrees to subordinate its liens as shown and
<br />referred to above, to the lien of LENDER #2 as shown and referred to above, but only to the
<br />extent of the principal amount of the new lien as shown in the above paragraph, plus any accrued
<br />interest, taxes, insurance or costs advanced to protect its security.
<br />Dated this 23rd day of August, 2004.
<br />Platte Valley State Bank & Trust Company (LENDER #i)
<br />B:
<br />Phil Lan o enior Vice President
<br />STATE OF NEBRASKA )
<br />)SS:
<br />COUNTY OF HALL )
<br />Acknowledged before me this a3- day of Apust , 2004 by Phil Landon its Senior
<br />Vice President of Platte Valley State Bank & Trust Comp=A-
<br />LISA rporation.
<br />GENERAL NOTARY • State of Nebraska KLEIN Notary Public
<br />MY Comm. En. March Mn 2007
<br />
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