200210081 - Laserfiche WebLink

Browse

TI m c � n z X '1 s n:' U. r AGREEMENT SUBORDINATING EXISTING TRUST DEED TO NEW TRUST DEED N W O G' D 1 m r :- c, x lI, 200210081 Agreement made the 1BT41ay of SEPTEMBER , 2002, between KEVIN L PRIOR and O N 0 O G7 F-' lY Sa 9'p W ran wr G N O JANIS M. PRIOR, IIusband and Wife, of 1520 WINDSOR RD., Grand Island, Hall County, /S•. S State of Nebraska, herein referred to as truster, and EQUITABLE FEDERAL. SAVINGS BANK R' OF GRAND ISLAND, of 113 N. Locust St., City of Grand Island, County of Hall, State of Nebraska, herein referred to as beneficiary. The parties recite and declare that: a. Truster executed a trust deed on February 22, 2002, in favor of beneficiary, which was recorded on March 1, 2002, in the office of the Register of Deeds, of Hall County, State of Nebraska, as Document No. 200202292 covering the following described property (as defined in Neb. Rev. State. 76 -201) in Hall County, Nebraska. LOT TWENTY -SIX (26) IN BLOCK (2), IN NORMANDY ESTATES TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA. b. The above mentioned trust decd was given as security for Loan, described in such trust deed, in the original amount of Ten Thousand Seventy and 50/100 - -- ($10,070.50) Dollars, executed on February 22, 2002, by trustor in favor of beneficiary. c. Truster desires to obtain a loan in the amount of Forty -Two Thousand and No/] 00 ($42,000.00) from Equitable Federal Savings Batik of Grand Island, of 113 N. Locust, City of Grand Island, County of Hall, State of Nebraska, herein referred to as lender, but lender requires that such loan be secured by a trust deed that will be prior to the trust deed in favor of beneficiary. d. Beneficiary is willing to subordinate the lien of the trust deeds in their favor insofar as it encumbers the above- described premises, to the trust deed made in favor of lender in order that trustor may obtain such loan from lender. Said Deed of Trust securing lender's lien was recorded on at Document No. U(>� C) in the Office of the Hall County Register of Deeds. For the reasons set forth above, and in consideration of the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and agree as follows: