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_D SUBORDINATION AGREEMENT
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
<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 />THIS AGREEMENT, made this 150' day of April, 2002, by Timothy C Plate aka
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<br />Tim C Plate, a single individual, owner of the land hereinafter described and hereinafter c�
<br />referred to as "Owner," and Charley W Fox, present owner and holder of the Deed of
<br />Trust and Note first and hereinafter described and hereinafter referred to as
<br />"Beneficiary;"
<br />WITNESSETH:
<br />THAT, WHEREAS, Tim C Plate, a single individual, did execute a Deed of Trust
<br />dated December 29, 1997, to D Steven Leininger, Attorney at Law and member of the
<br />Nebraska State Bar Association, as Trustee, covering:
<br />LOTS ONE HUNDRED THIRTY -EIGHT (138) AND ONE HUNDRED SIXTY -NINE (169),
<br />BUENAVISTA SUBDIVISION, AN ADDITION TO THE CITY OF GRAND ISLAND, HALL
<br />COUNTY,NEBRASKA
<br />to secure a Note in the sum of $250,000.00, dated December 29, 1997, in favor of
<br />Charley W Fox, which Deed of Trust was recorded December 30, 1997 as Document
<br />Number 97- 110965 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 $91,451.63, dated April 15, 2002, 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
<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 a lien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust first 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 unconditio -nally subordinaw —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
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<br />_D SUBORDINATION AGREEMENT
<br />NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
<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 />THIS AGREEMENT, made this 150' day of April, 2002, by Timothy C Plate aka
<br />a
<br />cc
<br />M
<br />C.
<br />�e
<br />C
<br />Tim C Plate, a single individual, owner of the land hereinafter described and hereinafter c�
<br />referred to as "Owner," and Charley W Fox, present owner and holder of the Deed of
<br />Trust and Note first and hereinafter described and hereinafter referred to as
<br />"Beneficiary;"
<br />WITNESSETH:
<br />THAT, WHEREAS, Tim C Plate, a single individual, did execute a Deed of Trust
<br />dated December 29, 1997, to D Steven Leininger, Attorney at Law and member of the
<br />Nebraska State Bar Association, as Trustee, covering:
<br />LOTS ONE HUNDRED THIRTY -EIGHT (138) AND ONE HUNDRED SIXTY -NINE (169),
<br />BUENAVISTA SUBDIVISION, AN ADDITION TO THE CITY OF GRAND ISLAND, HALL
<br />COUNTY,NEBRASKA
<br />to secure a Note in the sum of $250,000.00, dated December 29, 1997, in favor of
<br />Charley W Fox, which Deed of Trust was recorded December 30, 1997 as Document
<br />Number 97- 110965 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 $91,451.63, dated April 15, 2002, 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
<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 a lien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust first 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 unconditio -nally subordinaw —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 />
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