200302078 - Laserfiche WebLink

Browse

(' n T CD y n Z l l x y I 1 v O Q N T 200302073 QJ N N ,Oq. - N 0 AGREEMENT SUBORDINATING EXISTING TRUST DEED TO NEW TRUST DEED Agreement made the 18TH day of FEBRUARY, 2003, between BRIAN A. CATCHPOOL, AN UNMARRIED PERSON, of 4204 Michigan Av, Grand Island, Hall County, State of Nebraska, herein referred to as truster, and EQUITABLE FEDERAL SAVINGS BANK OF GRAND ISLAND, of 113 N. Locust SL, City of Grand Island, County of Hall, State of Nebraska, herein referred to as beneficiary. The parties recite and declare that: a. Truster executed a trust deed on January 02, 2003, in favor of beneficiary, which was recorded on January 8, 2003, in the office of the Register of Deeds, as Document No. 200300202, in Hall County, State of Nebraska, covering the following described property (as defined in Neb. Rev. State. 76 -201) in Hall County, Nebraska. LOT TEN (10), IN BLOCK TWO (2), IN CAPITAL HEIGHTS FOURTH SUBDMSION, HALL COUNTY, NEBRASKA. b. The above mentioned trust deed was given as security for Loan, described in such trust deed, in the original amount of TWENTY THOUSAND AND NO /100 - -- ($20,000.00) Dollars, executed on January 2, 2003, by truster in favor of beneficiary. c. Trustor desires to obtain a loan in the amount of Sixty Thousand and No /100 ($60,000.00) -- - - - - -- from Equitable Federal Savings Bank of Grand Island, of 113 N. Locust, City of Grand Island, County of Hall, Stale of Nebraska, herein referred to as lender, but lender requires that such loan be secured by a trust deed that will be prior to the trust deed in favor of beneficiary. d. Beneficiary is willing to subordinate the lien of the trust deeds in their favor insofar as it encumbers the above - described premises, to the trust deed made in favor of lender in order that truster may obtain such loan from lender. Said Deed of Trust securing lender's lien was recorded on JANUARY 8 2003 at Document No. 200300260 in the Office of the Hall County Register of Deeds. For the reasons set forth above, and in consideration of the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and agree as follows: