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SUBORDINATION AGREEMENT
<br />THIS AGREEMENT is dated for referencethisc9y dayof cepti -.,,6„ ,2002,
<br />and is between Samuel Ping Wand, formerly known as Zu Ping Wang, and Grace Ching
<br />Wang, formerly known as Chum Ching Wang, owner(s) of the land described in the security
<br />instruments referenced below and described on Exhibit Awhich is attached hereto ( "Owner'),
<br />Heritage Bank, Grand Island, Nebraska ( "Lender') and the SMALL BUSINESS
<br />ADMINISTRATION, an agency duly created under and by virtue of an Act of Congress, having
<br />its principal office in Washington, in the District of Columbia, and a Commercial Loan
<br />Servicing Center at 2719 North Air Fresno Drive, Suite 107, Fresno, California 93727
<br />(hereinafter called "SBA ").
<br />SBA is the present holder and beneficiary of four deed(s) of trusts dated August 3'",
<br />1995; January 7',1994; May 9'",1996; and January 7'",1994, to secure two notes in the sum
<br />of $120,000.00 and $161,000.00 (hereinafter collectively referred to as "SBA Security
<br />Instruments "). One of the SBA Deeds ofTrustwas recorded withthe Registerof Deeds in Hall
<br />County, State of Nebraska, on August 10'",1995, as Instrument Number 95- 105380 and was
<br />subsequently assigned to the Small Business Administration by an Assignment recorded
<br />August 101", 1995 and fled as Instrument Number 95- 105381. Three of the SBA Deeds of
<br />Trust were recorded with the Register of Deeds of York County, State of Nebraska as
<br />follows:
<br />One of said Deeds ofTrustwas recorded January 7`", 1994, in Book276 Page
<br />218, and assigned to the Small Business Administration by an Assignment
<br />dated January 7'", 1994, and recorded January 7', 1994 in Book 276, Page
<br />225.
<br />2. One of said Deeds of Trust was recorded May 9", 1996, in Book 293, Page
<br />135, and assigned to the Small Business Administration by an Assignment
<br />dated May 9"', 1996, and recorded May 91h, 1996, in Book 293, Page 142.
<br />3. One of said Deeds of Trust was recorded January 7'",1994, in Book 276, Page
<br />210, and assigned to the Small Business Administration by an Assignment
<br />dated January 7', 1994, and recorded January 7", 1994, in Book 276, Page
<br />225.
<br />Owner have executed two Deeds of Trust to Lender, one recorded March 5, 2002 in
<br />the Register of Deeds of Hall County as Instrument Number 0200202437 and one recorded
<br />March 7, 2002 in the Register of Deeds in York County in Volume 354 of Mortgages Page
<br />412, both securing a Note in the amount of $302,925.00 dated March 1 ", 2002, in favor of
<br />Lender (hereinafter collectively referred to as "Lenders Security Instrument').
<br />As a condition precedent to Lenders performance, the SBA Security Instruments must
<br />be subordinated tothe Lender's Security Instruments. SBA is willing to subordinate the liens
<br />of all of the SBA Security Instruments provided it retains its lien priority with regard to all other
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<br />SUBORDINATION AGREEMENT
<br />THIS AGREEMENT is dated for referencethisc9y dayof cepti -.,,6„ ,2002,
<br />and is between Samuel Ping Wand, formerly known as Zu Ping Wang, and Grace Ching
<br />Wang, formerly known as Chum Ching Wang, owner(s) of the land described in the security
<br />instruments referenced below and described on Exhibit Awhich is attached hereto ( "Owner'),
<br />Heritage Bank, Grand Island, Nebraska ( "Lender') and the SMALL BUSINESS
<br />ADMINISTRATION, an agency duly created under and by virtue of an Act of Congress, having
<br />its principal office in Washington, in the District of Columbia, and a Commercial Loan
<br />Servicing Center at 2719 North Air Fresno Drive, Suite 107, Fresno, California 93727
<br />(hereinafter called "SBA ").
<br />SBA is the present holder and beneficiary of four deed(s) of trusts dated August 3'",
<br />1995; January 7',1994; May 9'",1996; and January 7'",1994, to secure two notes in the sum
<br />of $120,000.00 and $161,000.00 (hereinafter collectively referred to as "SBA Security
<br />Instruments "). One of the SBA Deeds ofTrustwas recorded withthe Registerof Deeds in Hall
<br />County, State of Nebraska, on August 10'",1995, as Instrument Number 95- 105380 and was
<br />subsequently assigned to the Small Business Administration by an Assignment recorded
<br />August 101", 1995 and fled as Instrument Number 95- 105381. Three of the SBA Deeds of
<br />Trust were recorded with the Register of Deeds of York County, State of Nebraska as
<br />follows:
<br />One of said Deeds ofTrustwas recorded January 7`", 1994, in Book276 Page
<br />218, and assigned to the Small Business Administration by an Assignment
<br />dated January 7'", 1994, and recorded January 7', 1994 in Book 276, Page
<br />225.
<br />2. One of said Deeds of Trust was recorded May 9", 1996, in Book 293, Page
<br />135, and assigned to the Small Business Administration by an Assignment
<br />dated May 9"', 1996, and recorded May 91h, 1996, in Book 293, Page 142.
<br />3. One of said Deeds of Trust was recorded January 7'",1994, in Book 276, Page
<br />210, and assigned to the Small Business Administration by an Assignment
<br />dated January 7', 1994, and recorded January 7", 1994, in Book 276, Page
<br />225.
<br />Owner have executed two Deeds of Trust to Lender, one recorded March 5, 2002 in
<br />the Register of Deeds of Hall County as Instrument Number 0200202437 and one recorded
<br />March 7, 2002 in the Register of Deeds in York County in Volume 354 of Mortgages Page
<br />412, both securing a Note in the amount of $302,925.00 dated March 1 ", 2002, in favor of
<br />Lender (hereinafter collectively referred to as "Lenders Security Instrument').
<br />As a condition precedent to Lenders performance, the SBA Security Instruments must
<br />be subordinated tothe Lender's Security Instruments. SBA is willing to subordinate the liens
<br />of all of the SBA Security Instruments provided it retains its lien priority with regard to all other
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