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<br />200304543
<br />SUBORDINATION OF MORTGAGE
<br />This instrument is made as of March 11, 2003, by United Nebraska Bank ( "Lienholder "), a Corporation,
<br />having its principal place of business at Grand Island, NE.
<br />RECITALS
<br />A. Lienholder is the holder of a note secured by a mortgage (the "Second Mortgage ") on the Mortgaged
<br />Property, dated February 28, 2000, executed by Tim S. Bennett and Lisa L. Bennett and recorded on March
<br />13, 2000 as Document 200001969, in the real estate records of Hall County, NE, pertaining to the real
<br />estate located at 616 Ravenwood Dr, Grand Island, NE 68801 and further described as follows (the
<br />"Mortgaged Property "):
<br />LOT 34, Ravenwood subdivision, Hall County, Nebraska, according to the recorded plat thereof
<br />B. The Second Mortgage held by Lienholder is junior and subordinate to a Mortgage (the "First
<br />Mortgage ") held by Principal Residential Mortgage, Inc on the Mortgaged Property. Tim S. Bennett and
<br />Lisa L. Bennett, the owner ( "Owner ") of the Mortgaged Property desires to refinance the First Mortgage
<br />loan on the Mortgaged Property.
<br />For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
<br />Lienholder agrees as follows:
<br />1. The Second Mortgage held by Lienholder shall be subject and subordinate to a new mortgage ( "New
<br />Mortgage ") securing a loan originated by Principal Residential Mortgage, Incorporated pertaining to the
<br />Mortgaged Property and securing a note in an original principal amount not to exceed Eighty Thousand
<br />Three Hundred Seventy Two Dollars ($80,372.00), bearing interest at a rate not to exceed Five and Five
<br />Eighths percent (5.625 %) per annum, and made primarily for the purpose of refinancing the First Mortgage
<br />loan.
<br />2. Lienholder acknowledges that Principal Residential Mortgage, Inc. is relying on this instrument in
<br />making the loan secured by the New Mortgage. Lienholder agrees that the new Mortgage shall have the
<br />same validity, priority, and effect as if executed, delivered and recorded prior to the date of the Second
<br />Mortgage, provided, however, that nothing in this instrument shall in any way alter, change or modify the
<br />terms and conditions of the Second Mortgage, or in any way release or affect the validity or priority of the
<br />Second Mortgage, except as provided herein.
<br />Entered into this 11th day of March,
<br />( "Lienholder ")
<br />By:
<br />Name: W l I ,0 w` (. • VV1C LPG (a4&v
<br />Title:
<br />STATE OF Alt 6,ja_ S �« )
<br />ss.
<br />COUNTY OF
<br />On this 1, d ay of �i (t� , 03, before me, a Notary Public,,� personally appeared,
<br />�i ll �Q.uti L V1( e (I C-1_ , to me personally known to be the QV)0',tn_(,..
<br />Of _ -jQAa)f4-SLG— and who being by me duly sworn, subscribed their name to
<br />the foregoing instrument as an officer of said corporation and acknowledged the execution of such
<br />instrument as the voluntary act and deed of said corporation.
<br />GENERAL NOWY -State of Nebraska
<br />II KATHLEEN J. NORTHUP
<br />My Comm. Exp. Dec. 1,S064 Notary Public
<br />K&AIR (-P- q--S NO r 4-h u f D
<br />My Commission Expires: () D4
<br />RETURN TO (Nt.3),
<br />Nations Title Agency, Inc.
<br />5370 W. 95th St.
<br />Shawnee, KS 66207
<br />Document prepared Principal Residential Mortgage, Inc.
<br />Sub- mrte.dot
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<br />This instrument is made as of March 11, 2003, by United Nebraska Bank ( "Lienholder "), a Corporation,
<br />having its principal place of business at Grand Island, NE.
<br />RECITALS
<br />A. Lienholder is the holder of a note secured by a mortgage (the "Second Mortgage ") on the Mortgaged
<br />Property, dated February 28, 2000, executed by Tim S. Bennett and Lisa L. Bennett and recorded on March
<br />13, 2000 as Document 200001969, in the real estate records of Hall County, NE, pertaining to the real
<br />estate located at 616 Ravenwood Dr, Grand Island, NE 68801 and further described as follows (the
<br />"Mortgaged Property "):
<br />LOT 34, Ravenwood subdivision, Hall County, Nebraska, according to the recorded plat thereof
<br />B. The Second Mortgage held by Lienholder is junior and subordinate to a Mortgage (the "First
<br />Mortgage ") held by Principal Residential Mortgage, Inc on the Mortgaged Property. Tim S. Bennett and
<br />Lisa L. Bennett, the owner ( "Owner ") of the Mortgaged Property desires to refinance the First Mortgage
<br />loan on the Mortgaged Property.
<br />For good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged,
<br />Lienholder agrees as follows:
<br />1. The Second Mortgage held by Lienholder shall be subject and subordinate to a new mortgage ( "New
<br />Mortgage ") securing a loan originated by Principal Residential Mortgage, Incorporated pertaining to the
<br />Mortgaged Property and securing a note in an original principal amount not to exceed Eighty Thousand
<br />Three Hundred Seventy Two Dollars ($80,372.00), bearing interest at a rate not to exceed Five and Five
<br />Eighths percent (5.625 %) per annum, and made primarily for the purpose of refinancing the First Mortgage
<br />loan.
<br />2. Lienholder acknowledges that Principal Residential Mortgage, Inc. is relying on this instrument in
<br />making the loan secured by the New Mortgage. Lienholder agrees that the new Mortgage shall have the
<br />same validity, priority, and effect as if executed, delivered and recorded prior to the date of the Second
<br />Mortgage, provided, however, that nothing in this instrument shall in any way alter, change or modify the
<br />terms and conditions of the Second Mortgage, or in any way release or affect the validity or priority of the
<br />Second Mortgage, except as provided herein.
<br />Entered into this 11th day of March,
<br />( "Lienholder ")
<br />By:
<br />Name: W l I ,0 w` (. • VV1C LPG (a4&v
<br />Title:
<br />STATE OF Alt 6,ja_ S �« )
<br />ss.
<br />COUNTY OF
<br />On this 1, d ay of �i (t� , 03, before me, a Notary Public,,� personally appeared,
<br />�i ll �Q.uti L V1( e (I C-1_ , to me personally known to be the QV)0',tn_(,..
<br />Of _ -jQAa)f4-SLG— and who being by me duly sworn, subscribed their name to
<br />the foregoing instrument as an officer of said corporation and acknowledged the execution of such
<br />instrument as the voluntary act and deed of said corporation.
<br />GENERAL NOWY -State of Nebraska
<br />II KATHLEEN J. NORTHUP
<br />My Comm. Exp. Dec. 1,S064 Notary Public
<br />K&AIR (-P- q--S NO r 4-h u f D
<br />My Commission Expires: () D4
<br />RETURN TO (Nt.3),
<br />Nations Title Agency, Inc.
<br />5370 W. 95th St.
<br />Shawnee, KS 66207
<br />Document prepared Principal Residential Mortgage, Inc.
<br />Sub- mrte.dot
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