|
�s
<br />t
<br />r
<br />rn
<br />fn
<br />200204930
<br />UNILATERAL SUBORDINATION AGREEMENT
<br />WHEREAS, the parties to this agreement are the old lender, namely The Platte
<br />Valley State Bank & Trust Company hereinafter called LENDER #1; and the new lender,
<br />namely First National Bank of Omaha, hereinafter called LENDER #2 and Arthur R.
<br />Langvardt and Teresa K. Luther, hereinafter called BORROWER,
<br />WHEREAS, BORROWER is the owner of the real estate described as:
<br />Lot Forty Three (43), Amick Acres East Subdivision, Hall County, Nebraska.
<br />WHEREAS, BORROWER will be executing or has executed a Note in a
<br />principal amount not to exceed $13,240.60, secured by a Mortgage/Deed of Trust in favor
<br />of LENDER #1, covering the PROPERTY, recorded on July 10, 2000 as Document
<br />No. 200005602, in the office of the Register of Deeds of Hall County, Nebraska AND
<br />Note in a principal amount not to exceed $10,105.50, secured by a Mortgage/Deed of
<br />Trust in favor of LENDER #1 covering the PROPERTY, recorded on February 21, 2001
<br />as Document 200101263, in the office of the Register of Deeds of Hall County,
<br />Nebraska.
<br />WHEREAS, BORROWER will be executing or has executed a Note in a
<br />principal amount not to exceed $104,000.00, to be secured by a Mortgage/Deed of Trust
<br />in favor of LENDER #2, covering the PROPERTY, and to be recorded in the office of
<br />the Register of Deeds of Hall County, Nebraska. A, sec o?Opa-049
<br />NOW THEREFORE, in consideration of $1.00 and other valuable
<br />consideration, receipt whereof is hereby acknowledge, LENDER #1 agrees to
<br />subordinate its liens as shown and referred to above, to the lien of LENDER #2 as
<br />shown and referred to above, but only to the extent of the principal amount of the new
<br />lien as shown in the above paragraph, plus any accrued interest, taxes, insurance or costs
<br />advanced to protect its security.
<br />Dated this 301' day of April, 2002.
<br />The Platte Valley State Bank & Trust Company
<br />(I.FNDER NI)
<br />By:� _.-
<br />John Stumb , V'ce President
<br />S jATE OF NEBRASKA )
<br />)SS:
<br />COUNTY Or BUFFALO )
<br />Acknowledged before me this 30`h day of April, 2002 by John Stumbo, the Vice President
<br />of The Platte Valley State Bank & Trust Company on behalf of said corporation.
<br />GENERAL NOTARY-State of Nebraska Nota blic
<br />ALLYSON D. BEAHM
<br />��' My Comm. Eq Nov. 6, 2000
<br />C�
<br />O
<br />O
<br />—�1
<br />O
<br />[�
<br />O
<br />O
<br />cm
<br />a
<br />m
<br />1'fl
<br />0
<br />C
<br />N
<br />Co
<br />o
<br />UNILATERAL SUBORDINATION AGREEMENT
<br />WHEREAS, the parties to this agreement are the old lender, namely The Platte
<br />Valley State Bank & Trust Company hereinafter called LENDER #1; and the new lender,
<br />namely First National Bank of Omaha, hereinafter called LENDER #2 and Arthur R.
<br />Langvardt and Teresa K. Luther, hereinafter called BORROWER,
<br />WHEREAS, BORROWER is the owner of the real estate described as:
<br />Lot Forty Three (43), Amick Acres East Subdivision, Hall County, Nebraska.
<br />WHEREAS, BORROWER will be executing or has executed a Note in a
<br />principal amount not to exceed $13,240.60, secured by a Mortgage/Deed of Trust in favor
<br />of LENDER #1, covering the PROPERTY, recorded on July 10, 2000 as Document
<br />No. 200005602, in the office of the Register of Deeds of Hall County, Nebraska AND
<br />Note in a principal amount not to exceed $10,105.50, secured by a Mortgage/Deed of
<br />Trust in favor of LENDER #1 covering the PROPERTY, recorded on February 21, 2001
<br />as Document 200101263, in the office of the Register of Deeds of Hall County,
<br />Nebraska.
<br />WHEREAS, BORROWER will be executing or has executed a Note in a
<br />principal amount not to exceed $104,000.00, to be secured by a Mortgage/Deed of Trust
<br />in favor of LENDER #2, covering the PROPERTY, and to be recorded in the office of
<br />the Register of Deeds of Hall County, Nebraska. A, sec o?Opa-049
<br />NOW THEREFORE, in consideration of $1.00 and other valuable
<br />consideration, receipt whereof is hereby acknowledge, LENDER #1 agrees to
<br />subordinate its liens as shown and referred to above, to the lien of LENDER #2 as
<br />shown and referred to above, but only to the extent of the principal amount of the new
<br />lien as shown in the above paragraph, plus any accrued interest, taxes, insurance or costs
<br />advanced to protect its security.
<br />Dated this 301' day of April, 2002.
<br />The Platte Valley State Bank & Trust Company
<br />(I.FNDER NI)
<br />By:� _.-
<br />John Stumb , V'ce President
<br />S jATE OF NEBRASKA )
<br />)SS:
<br />COUNTY Or BUFFALO )
<br />Acknowledged before me this 30`h day of April, 2002 by John Stumbo, the Vice President
<br />of The Platte Valley State Bank & Trust Company on behalf of said corporation.
<br />GENERAL NOTARY-State of Nebraska Nota blic
<br />ALLYSON D. BEAHM
<br />��' My Comm. Eq Nov. 6, 2000
<br />C�
<br />
|