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<br />SUBORDINATION AGREEMENT
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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.
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<br />THIS AGREEMENT, made this 28th day of February, 2003, by Garry L. Smith
<br />and Dorothy A. Smith, owner of the land hereinafter described and hereinafter referred to
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<br />as "Owner," and Five Points Bank, present owner and holder of the Mortgage and Note
<br />first and hereinafter described and hereinafter referred to as "Beneficiary;"
<br />WITNESSETH:
<br />THAT, WHEREAS, Gary L. Smith and Dorothy A. Smith, husband and wife,
<br />did execute a Deed of Trust dated May 29, 2001, to Five Points Bank, covering:
<br />Lot Twenty -three (23), Potash Subdivision, Hall County, Nebraska.
<br />to secure a Note in the sum of $4,834.50 dated May 29, 2001, in favor of Five Points
<br />Bank, which Deed of Trust was recorded June 4, 2001, as Tnst. No. 200105219 in the
<br />Official Register of Deeds Office of Hall County; and
<br />WIIEREAS, Owner has executed, or is about to execute, a Deed of Trust and
<br />Note in the sum of $63,000, dated February 24, 2003, 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 Decd of Trust is to be recorded concurrently
<br />herewith; and DbCj0dCU3-89399
<br />IT IS 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 Deed of
<br />Trust last above mentioned shall unconditionally be and remain at all times a lien or
<br />charge upon the land hercinbcfore 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 Decd 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.
<br />NOW, THEREFORE, in consideration of the mutual benefits accruing to the
<br />parties hereto and other valuable consideration, the receipt and sufficiency of which
<br />consideration is hereby acknowledged, and in order to induce Lender to make the loan
<br />above referred lo, it is hereby declared, understood, and agreed as follows:
<br />I That said Deed of Trust securing said Note in favor of Lender, and
<br />any renewals of extensions thereof, shall unconditionally be and
<br />remaining all times a lien or charge on the property therein
<br />described, prior and superior to the lien or charge of the Deed of
<br />Trust first above mentioned.
<br />2) 1 't at Lender would not make its loan above described without this
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