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<br />AGREEMENT SUBORDINATING EXISTING
<br />TRUST DEED TO NEW TRUST DEED
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<br />Agreement made the 24TH day of MARCH, 2003, between WILLIAM R. EARL and KAREN
<br />L. EARL, Husband and Wife, of 137 Ponderosa, Grand Island, Hall County, State of Ncbraska,
<br />herein referred to as trustor, and The Equitable Building and Loan Association of Grand Island,
<br />now known as Equitable Federal Savings Bank of Grand Island, of 113 N. Locust, Grand Island,
<br />Hall County, Nebraska, herein referred to as beneficiary.
<br />The parties recite and declare that:
<br />a. Tmstor executed a trust deed on April 20, 2000, in favor of beneficiary, which was
<br />recorded on May 1, 2000, in the office of the Register of Deeds, of Hall County, State of
<br />Nebraska, as Document No. 200003519 covering the following described property (as defined in
<br />Neb. Rev. State. 76 -201) in Hall County, Nebraska.
<br />LOT FOUR (4), BLOCK TWO (2), PONDEROSA LAKE ESTATES THIRD SUBDIVISION,
<br />AN ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />b. The above mentioned trust decd was given as security for Loan, described in such
<br />must deed, in the original amount of Twenty -Five Thousand and NO /100 - -- ($25,000.00) Dollars,
<br />executed on April 20, 2000, by trustor in favor of beneficiary.
<br />c. Trustor desires to obtain a loan in the amount of One Hundred Ninety -Two Thousand
<br />and No /100 ($192,000.00) from EQUITABLE FEDERAL SAVINGS BANK OF GRAND
<br />ISLAND, 113 -115 N. Locust St., City of Grand Island, County of Hall, State of Nebraska, herein
<br />referred to as lender, but lender requires that such loan be secured by a trust deed that will be
<br />prior to the trust deed in favor of beneficiary.
<br />d. Beneficiary is willing to subordinate the lien of the trust deed in their favor insofar as
<br />it encumbers the above - described premises, to the trust deed made in favor of lender
<br />in order that trustor may obtain such loan from lender. Said Deed of Trust securing
<br />lender's lien was recorded on ✓ &l-c k r� R , r) M 3 at Document
<br />No. Off, a3foa0 , in the Office of the Hall County Register of Deeds.
<br />For the reasons set forth above, and in consideration of the mutual covenants and
<br />promises of the parties hereto, trustor and beneficiary covenant and agree as follows:
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