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<br />AGREEMENT SUBORDINATING EXISTING
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<br />TRUST DEED TO NEW TRUST DEED
<br />200210499
<br />Agreement made the 26 day of SEPTEMBER 2002, between DARREL R OLSON AND (�
<br />LINDA M OLSON, Husband and Wife, of 2102 Pioneer Blvd., Grand Island, Hall County, State �l4C
<br />of Nebraska, herein referred to as hLSIOr, and EQUITABLE FEDERAL SAVINGS BANK OF
<br />GRAND ISLAND, of 113 N. Locust St., City of Grand Island, County of Hall, State of
<br />Nebraska, herein referred to as beneficiary.
<br />The parties recite and declare that:
<br />a. Trustor executed a trust deed on August 2, 2002, in favor of beneficiary, which was
<br />recorded on August 23, 2002, in the office of the Register of Deeds, of Hall County, State of
<br />Nebraska, as Document No. 200208824 covering the following described property (as defined in
<br />Neb. Rev. State. 76 -201) in Ilall County, Nebraska.
<br />Lot Seven (7), in Block "B" in "Park -View Subdivision ", located in the Northeast Quarter (NE +h) of
<br />Section Twenty -Nine (29), and the Northwest Quarter (NW'k) of Section Twenty-Eight (28), In
<br />Township Eleven (11), North, Range Nine (9), West of the 6a P.M., Nall County, Nebraska
<br />b. The above mentioned trust deed was given as security for Loan, described in such
<br />trust deed, in the original amount of Thirty Thousand and No /100 - -- ($30,000.00) Dollars,
<br />executed on August 2, 2002, by trustor in favor of beneficiary.
<br />c. Truster desires to obtain a loan in the amount of One Hundred Twenty-Eight
<br />Thousand Seven Hundred and No/ 100 ($128,700.00) from Equitable Federal Savings Bank of
<br />Grand Island, of 113 N. Locust, City of Grand Island, County of Hall, State of Nebraska, herein
<br />referred to as lender, but lender requires that such loan be secured by a trust deed that will be
<br />prior to the trust decd in favor of beneficiary.
<br />d. Beneficiary is willing to subordinate the lien of the trust deeds in their favor insofar as
<br />it encumbers the above - described prermses, to the trust deed made in favor of lender
<br />in order that trustor may obtain such loan from lender. Said Deed of Trust securing
<br />lender's lien was recorded on Oc4nber I r)ni�) r at Document
<br />No. oZO9 - 10°iQ7 ___ in the Office of the Hall County Register of Deeds.
<br />For the reasons set forth above, and in consideration of the mutual covenants and
<br />promises of the parties hereto, trustor and beneficiary covenant and agree as follows:
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