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<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY _
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER
<br />PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY
<br />INSTRUMENT.
<br />THIS AGREEMENT, made this 13th day of January, 03, by William L. McLellan
<br />and Jannan E. McLellan, Husband and Wife, owner of the land hereinafter described and
<br />hereinafter referred to as "Owner," and United Nebraska Bank, present owner and holder
<br />of the Deed of Trust and Note first and hereinafter described and hereinafter referred to
<br />as 'Beneficiary;"
<br />WITNESSETH:
<br />THAT, WHEREAS, William L. McLellan and Jarman E.McLellan, Husband and
<br />Wife, did execute a Deed of Trust dated Septem ��rr 16, 1998, filed September 21, 1998 in
<br />the Register of Deeds Office as Document N %;- 109186. Modification of Deed of
<br />Trust filed September 2000 in the Register of Deeds Office as Document No. 200007793.
<br />Modification of Deed of Trust filed September 21, 2001 in the Register of Deeds Office
<br />as Document No. 200109584. Modification of Deed of Trust filed September 17, 2002 in
<br />the Register of Deeds Office as Document No. 200209844 to United Nebraska Bank as
<br />Trustee, covering:
<br />LOT ONE (1), MCLELLAN SUflTHVISION, HALL COUNTY, NEBRASKA
<br />to secure a Note in the sum of $10,800.00, dated September 16, 1998, in favor of United
<br />Nebraska Bank, which Deed of Trust was recorded September 21, 1998, in the Register
<br />of Deeds Office as Document No. 98- 109186. Modification of Deed of Trust filed
<br />September 2000 in the Register of Deeds Office as Document No. 200007793.
<br />Modification of Deed of Trust filed September 21, 2001 in the Register of Deeds Office
<br />as Document No. 200109584. Modification of Deed of Trust filed September 17, 2002 in
<br />the Register of Deeds Office as Document No. 200209844.
<br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and
<br />Note in the sum of $70,000.00, dated October 9, 2002, in favor of United Nebraska Bank,
<br />hereinafter referred to as "Lender," payable with interest and upon the terms and
<br />conditions described therein, which Deed of Trust was filed October 18, 2002 as
<br />Document #200211293; and
<br />PP 1S RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS
<br />SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR
<br />ATTORNEYS WITH RESPECT THERETO.
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Decd of
<br />Trust last above mentioned shall unconditionally be and remain at all times a lien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust first above mentioned; and
<br />WHEREAS, Lender is willing to make said loan, provided the Deed of Trust
<br />securing the same is a lien or charge upon the above - described property prior and
<br />superior to the lien or charge of the Deed of Trust first above mentioned and provided
<br />that Beneficiary will specifically and unconditionally subordinate the lien or charge of the
<br />Deed of Trust first above mentioned to the lien or charge of the deed of Trust in favor of
<br />Lender; and
<br />WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such
<br />loan to Owner; and Beneficiary is willing that the Deed of Trust securing the same shall,
<br />when recorded constitute a lien or charge upon said land which is unconditionally prior
<br />and superior to the lien or charge of the Deed of Trust first above mentioned.
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<br />SUBORDINATION
<br />AGREEMENT
<br />°
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY _
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER
<br />PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY
<br />INSTRUMENT.
<br />THIS AGREEMENT, made this 13th day of January, 03, by William L. McLellan
<br />and Jannan E. McLellan, Husband and Wife, owner of the land hereinafter described and
<br />hereinafter referred to as "Owner," and United Nebraska Bank, present owner and holder
<br />of the Deed of Trust and Note first and hereinafter described and hereinafter referred to
<br />as 'Beneficiary;"
<br />WITNESSETH:
<br />THAT, WHEREAS, William L. McLellan and Jarman E.McLellan, Husband and
<br />Wife, did execute a Deed of Trust dated Septem ��rr 16, 1998, filed September 21, 1998 in
<br />the Register of Deeds Office as Document N %;- 109186. Modification of Deed of
<br />Trust filed September 2000 in the Register of Deeds Office as Document No. 200007793.
<br />Modification of Deed of Trust filed September 21, 2001 in the Register of Deeds Office
<br />as Document No. 200109584. Modification of Deed of Trust filed September 17, 2002 in
<br />the Register of Deeds Office as Document No. 200209844 to United Nebraska Bank as
<br />Trustee, covering:
<br />LOT ONE (1), MCLELLAN SUflTHVISION, HALL COUNTY, NEBRASKA
<br />to secure a Note in the sum of $10,800.00, dated September 16, 1998, in favor of United
<br />Nebraska Bank, which Deed of Trust was recorded September 21, 1998, in the Register
<br />of Deeds Office as Document No. 98- 109186. Modification of Deed of Trust filed
<br />September 2000 in the Register of Deeds Office as Document No. 200007793.
<br />Modification of Deed of Trust filed September 21, 2001 in the Register of Deeds Office
<br />as Document No. 200109584. Modification of Deed of Trust filed September 17, 2002 in
<br />the Register of Deeds Office as Document No. 200209844.
<br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and
<br />Note in the sum of $70,000.00, dated October 9, 2002, in favor of United Nebraska Bank,
<br />hereinafter referred to as "Lender," payable with interest and upon the terms and
<br />conditions described therein, which Deed of Trust was filed October 18, 2002 as
<br />Document #200211293; and
<br />PP 1S RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS
<br />SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR
<br />ATTORNEYS WITH RESPECT THERETO.
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Decd of
<br />Trust last above mentioned shall unconditionally be and remain at all times a lien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust first above mentioned; and
<br />WHEREAS, Lender is willing to make said loan, provided the Deed of Trust
<br />securing the same is a lien or charge upon the above - described property prior and
<br />superior to the lien or charge of the Deed of Trust first above mentioned and provided
<br />that Beneficiary will specifically and unconditionally subordinate the lien or charge of the
<br />Deed of Trust first above mentioned to the lien or charge of the deed of Trust in favor of
<br />Lender; and
<br />WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such
<br />loan to Owner; and Beneficiary is willing that the Deed of Trust securing the same shall,
<br />when recorded constitute a lien or charge upon said land which is unconditionally prior
<br />and superior to the lien or charge of the Deed of Trust first above mentioned.
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