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<br />APR -22 -2003 TUE 10:54 AM UNITED HE BANK GI
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<br />FAX N0. 3083818347
<br />20030499'7
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<br />SUBORDINATION AGREEMENT Cn N
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECUI%Y�
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER
<br />PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY
<br />INSTRUMENT.
<br />P. 02
<br />THIS AGREEMENT, made this 20 Day of April, 2003, by David A. Green and
<br />Ellen I. Nelson- Green, owner of the land hereinafter described and hereinafter referred to
<br />as "Owner," and Nebraska Energy Federal Credit Union, present owner and holder of the
<br />Mortgage and Note first and hereinafter described and hereinafter referred to as
<br />"Beneficiary;"
<br />WITNESSETH:
<br />THAT, WHEREAS, David A. Green and Ellen I. Nelson- Green, husband and
<br />wife, did execute a Deed of Trust dated May 31, 2001, to Nebraska. Energy Federal
<br />Credit Union:
<br />Lot Eleven (11), Marylane Subdivision, Hall County, Nebraska,
<br />to secure a Note in the sum of $16,146.00 dated May 31, 2001, in favor of Nebraska
<br />Energy Federal Credit Union, which Deed of Trust was recorded June 14, 2001, as Inst.
<br />No. 200105678 in the Official Register of Deeds Office of Hall County; and
<br />WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and
<br />Note in the sum of $86,900, dated March 6, 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 Deed of Trust is to be recorded concurrently
<br />herewith; and (,� A.g G A, I ©y4,9
<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 alien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust fast 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 Deed 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 to, it is hereby declared, understood, and agreed as follows:
<br />1) 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.
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