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AGREEMENT SUBORDINATING A DEED OF TRUST
<br />This Agreement is made this day of �<?LC --nE c-r— , 2002, by and between
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<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, Beneficiary,
<br />herein referred to as HOME FEDERAL, and Equitable Federal Savings Bank of Grand Island, which \
<br />has a principal place of business in Hall County, Nebraska, herein referred to as LENDER.
<br />The parties recite and declare that:
<br />A. HOME FEDERAL is the owner and holder of a certain Deed of Trust dated October
<br />19, 2000, and filed in the Register of Deeds Office of Hall County, on October 26, 2000, as
<br />Document Number 0200009262, of that County, covering, the following described property:
<br />LOT THIRTY FOUR (34), LEHEIGHTS FOURTH SUBDIVISION, IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
<br />B. LENDER is about to loan the sum of Ninety One Thousand and No Cents
<br />($91,000.00) on a Note and Deed of Trust securing such Note to provide for the payment of a Note to
<br />LENDER secured by a Deed of Trust filed against the above described property.
<br />C. To induce LENDER to make such loan, it is necessary that the Deed of Trust held by
<br />HOME FEDERAL, described in Section A above, be subordinated to the lien of the Deed of Trust
<br />about to be made in favor of the LENDER as beneficiary as set forth above as it applies to the above
<br />described property only.
<br />For the reasons set forth above, and consideration of the mutual covenants and promises of the
<br />parties hereto, HOME FEDERAL and LENDER covenant and agree as follows:
<br />Subordination HOME FEDERAL, hereby covenants, consents and agrees
<br />with LENDER that the above- mentioned Deed of Trust is and shall continue to be subject to
<br />and subordinate in lien to the lien of the Deed of Trust about to be made to LENDER stated
<br />above.
<br />2. Consideration In consideration of HOME FEDERAL so subordinating the
<br />Deed of Trost held by it to the Deed of Trust made to LENDER, LENDER shall make the
<br />above described loan to Galen E. Gerdes and Tamera M. Gerdes, Husband and Wife, secured
<br />by a Deed of Trust identified as document Number } — (}(�qej filed on
<br />_ u�1?� , 200$ in the Register of Deeds Office of Hall County, Nebraska.
<br />3. This Agreement shall be binding upon and inure to the benefit of the legal
<br />representatives, successors and assigns of the parties hereto.
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<br />AGREEMENT SUBORDINATING A DEED OF TRUST
<br />This Agreement is made this day of �<?LC --nE c-r— , 2002, by and between
<br />C
<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, Beneficiary,
<br />herein referred to as HOME FEDERAL, and Equitable Federal Savings Bank of Grand Island, which \
<br />has a principal place of business in Hall County, Nebraska, herein referred to as LENDER.
<br />The parties recite and declare that:
<br />A. HOME FEDERAL is the owner and holder of a certain Deed of Trust dated October
<br />19, 2000, and filed in the Register of Deeds Office of Hall County, on October 26, 2000, as
<br />Document Number 0200009262, of that County, covering, the following described property:
<br />LOT THIRTY FOUR (34), LEHEIGHTS FOURTH SUBDIVISION, IN THE CITY OF GRAND
<br />ISLAND, HALL COUNTY, NEBRASKA.
<br />B. LENDER is about to loan the sum of Ninety One Thousand and No Cents
<br />($91,000.00) on a Note and Deed of Trust securing such Note to provide for the payment of a Note to
<br />LENDER secured by a Deed of Trust filed against the above described property.
<br />C. To induce LENDER to make such loan, it is necessary that the Deed of Trust held by
<br />HOME FEDERAL, described in Section A above, be subordinated to the lien of the Deed of Trust
<br />about to be made in favor of the LENDER as beneficiary as set forth above as it applies to the above
<br />described property only.
<br />For the reasons set forth above, and consideration of the mutual covenants and promises of the
<br />parties hereto, HOME FEDERAL and LENDER covenant and agree as follows:
<br />Subordination HOME FEDERAL, hereby covenants, consents and agrees
<br />with LENDER that the above- mentioned Deed of Trust is and shall continue to be subject to
<br />and subordinate in lien to the lien of the Deed of Trust about to be made to LENDER stated
<br />above.
<br />2. Consideration In consideration of HOME FEDERAL so subordinating the
<br />Deed of Trost held by it to the Deed of Trust made to LENDER, LENDER shall make the
<br />above described loan to Galen E. Gerdes and Tamera M. Gerdes, Husband and Wife, secured
<br />by a Deed of Trust identified as document Number } — (}(�qej filed on
<br />_ u�1?� , 200$ in the Register of Deeds Office of Hall County, Nebraska.
<br />3. This Agreement shall be binding upon and inure to the benefit of the legal
<br />representatives, successors and assigns of the parties hereto.
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