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200307661
<br />SUBORDINATION OF MORTGAGE
<br />This instrument is made as of May 28, 2003, by Home Federal Bank ( "Lienholder "), a Corporation, having
<br />its principal place of business at 221 S Locust St, Grand Island, NE 68802 -1009.
<br />RECITALS
<br />A. Lienholder is the holder of a note secured by a mortgage (the "Second Mortgage ") on the Mortgaged
<br />Property, dated July 8, 2002, executed by Robert J. Baker and Denise M. Baker and recorded on July 15,
<br />2002 as Document 200207343, in the real estate records of Hall County, NE, pertaining to the real estate
<br />located at 510 Kennedy Pl, Grand Island, NE 68803 and further described as follows (the "Mortgaged
<br />Property"):
<br />LOT 29, WOLFE'S SUBDIVISION TO THE CITY OF GRAND ISLAND, HALL COUNTY,
<br />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. Robert J. Baker and
<br />Denise M. Baker, 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 Thirty Eight
<br />Thousand Dollars ($38,000.00), bearing interest at a rate not to exceed Four and Three Quarters percent
<br />(4.750 %) per annum, and made primarily for the purpose of refinancing the First Mortgage 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 i 28t da of may.
<br />�IOI�i1011 qi � Itl� ;�
<br />( "Lienholder ")
<br />By:
<br />Name:
<br />Title: S i- U,'c -C
<br />STATE OF 0Et',kQSKA )
<br />) ss.
<br />COUNTY OF H,E} LL
<br />Hoc -fbR N TO (W);
<br />NATIONS TITLE AGENTM' jN' a•
<br />5370 W. 95TH 0 '.
<br />SHAWNEE, KS
<br />On this . W7 day of —, ;?0p3 , before me, a Notary Public, personally appeared,
<br />5 TF- %/ t" � u �4 z kAA n4 , to me personally known to be the sat ce P(LfJJ o t " -T
<br />Of Haw4 FEo t.AZfif= <,/V1A14 s .` LAAJf , 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 />�
<br />otary AiWc
<br />1 NOTARY- 80aftaft
<br />ANTHONY R CHAPMAN
<br />Z
<br />My Commission Expires: 3 p s�MyCWft ftl1r&9 W
<br />Document prepared Principal Residential Mortgage, Inc.
<br />Sub- mrtg.dot
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