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200202©00 SUBORDINATION AGREEMENT Robert W. Giesenhagen hereby confirms that his Promissory Note payable to Meadow Ranch Co. dated January 22, 1998, and the Deed of Trust which is recorded as Document No. 98- 101202 in the office of the Register of Deeds of Hall County, Nebraska, and which secures that Promissory Note both are now in full force and effect. Robert W. Giesenhagen and Meadow Ranch Co. agree that the final payment date of the aforesaid Promissory Note has been extended to December 1, 2002. Meadow Ranch Co. hereby covenants and agrees that the lien of the Deed of Trust which is recorded as Document No. 98- 101202 in the office of the Register of Deeds of Hall County, Nebraska, and which creates a lien in favor of Meadow Ranch Co. upon Lot Five (5) in Francis Court Subdivision in Grand Island Hall County, Nebraska, is and shall continue to be subordinate to any Deed of Trust heretofore or hereafter executed by Robert W. Giesenhagen as the owner of the above described Lot and as Trustor with United Nebraska Bank as beneficiary to secure a loan from that Bank to Trustor the proceeds of which are applied exclusively toward the costs of construction of a residence upon that Lot and that United Nebraska Bank may rely upon this Subordination Agreement in making any such construction loans to Robert W. Giesenhagen. Executed this 20 day of October, 2000. MEADOW RANCH CO. Robert W. GieserTKagen By �� Fred H. Bosselman, President STATE OF NEBRASKA, COUNTY OF HALL )ss: On this day of October, 2000, before me, the undersigned, a Notary Public, duly commissioned and qualified for in said County, personally came Robert W. Giesenhagen, to me known to be the identical person whose name is affixed to the foregoing instrument and acknowledged the execution thereof to be his voluntary act and deed. Witness my hand and Notarial Seal the day and year last above written. GENERA[ NOTARY State of Nebraska DONNA PREISENDORF My Comm. Exp. Dec. 26, 2000 Notary Public - u 1