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<br />AGREEMENT SUBORDINATING EXISTING
<br />TRUST DEED TO NEW TRUST DEED
<br />Agreement made the 12th day of MAY , 2003, between GARY L _-
<br />KRUSE, TRUSTEE, GARY L KRUSE REVOCABLE TRUST AND ARDITH A KRUSE, C �\
<br />TRUSTEE, ARDITH A KRUSE REVOCABLE TRUST, of 1611 Chesapeake Circle, Grand \ v
<br />Island, Hall County, State of Nebraska, herein referred to as trustor, and EQUITABLE
<br />FEDERAL SAVINGS BANK OF GRAND ISLAND, of 113 N. Locust St., City of Grand
<br />Island, County of Hall, State of Nebraska, herein referred to as beneficiary.
<br />The parties recite and declare that:
<br />a. Truster executed a trust deed on September 20, 2002, in favor of beneficiary, which
<br />was recorded on September 27, 2002, in the office of the Register of Deeds, as Document No.
<br />200210319, in Hall County, State of Nebraska, covering the following described property (as
<br />defined in Neb. Rev. State. 76 -201) in Hall County, Nebraska.
<br />LOT THIRTY-EIGHT (38), MORNINGSIDE ACRES SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA.
<br />b. The above mentioned trust deed was given as security for Loan, described in such
<br />trust deed, in the original amount of FIFTY THOUSAND AND NO /100 - -- ($50,000.00) Dollars,
<br />executed on September 20, 2002, by trustor in favor of beneficiary.
<br />c. Truster desires to obtain a loan in the amount of One Hundred Fifteen Thousand and
<br />No /100 ($115,000.00) Dollars -- from Equitable Federal Savings Bank of Grand Island, of 113
<br />N. Locust, City of Grand Island, County of Hall, State of Nebraska, herein referred to as lender,
<br />but lender requires that such loan be secured by a trust deed that will be prior to the trust deed in
<br />favor of beneficiary.
<br />d. Beneficiary is willing to subordinate the lien of the trust deeds 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 Tmst securing
<br />lender's lien was recorded on coati / L , �� at Document No. R66 _:� - 0617,E
<br />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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