200211574 - Laserfiche WebLink

Browse

to secure a Note in the sum of $18,392.60, dated May 30, 2000, in favor of United Nebraska Bank, which Deed of Trust was recorded August 3, 2000, as Document #31f49&21Ji in the Official Register of Deeds Office of Hall County; and WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of $56,500.00, dated October 18, 2002, in favor of United Nebraska Bank, hereinafter referred to as "Lender," payahle with interest and upon the temts and conditions described therein, which Deed of Trust is to be recorded concurrently herewith; and IU '�q_C, IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SU BORDI NA'ITON AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO. WHEREAS, it is a condition precedent to obtaining said loan that said Deed of Trust last above mentioned shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the lien or charge of the Deed of Trust rust first above mentioned; and WIIEREAS, Lender is willing to make said loan, provided the Deed of Trust seeming the same is a lien or charge upon the above - described property prior and superior to the lien or charge of the Deed of Trust first above mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lion or charge of the Deed of Trust first above mentioned to the lien or charge of the deed of Trust in favor of Lender; and WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary is willing that the Deed of Trust securing the same shall, when recorded constitute a lien or charge upon said laud which is unconditionally prior and superior to the lien or charge of the Deed of Trust first above mentioned. NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce Lender to make the loan above referred to, it is hereby declared, understood, and agreed as follows: 'That said Decd of Trust securing said Note in favor of Lender, and any renewals of extensions thereof, shall unconditionally be and remaining all times a lien or charge on the property therein described, prior and superior to the lien or charge of the Deed of Trust first above mentioned. T" s a � m N O o m O oilE s to SUBORDINATIOWAGREEMENT 0 NOTICE: THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY – INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER r. — ; e^ PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECURITY INSTRUMENT. 'THIS AGRHEMEN'T, made this 18th day of October, 2002, by Darrell A. Nelson and Julia Anne Nelson, owner of the land hereinafter described and hereinafter referred to as "Owner," and United Nebraska Bank, present owner and holder of the Deed of Trust and Note first and hereinafter described and hereinafter referred to as 'Beneficiary;" WITNESSETH: THAT, WHEREAS, Darrell A. Nelson and Julia Anne Nelson, husband and wife, did execute a Deed of Trust dated May 30, 2000, to United Nebraska Bank as Trustee, covering: LOT THIRTEEN (13), IN BLOCK THREE (3), IN MORRIS SECOND ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NLARASKA. to secure a Note in the sum of $18,392.60, dated May 30, 2000, in favor of United Nebraska Bank, which Deed of Trust was recorded August 3, 2000, as Document #31f49&21Ji in the Official Register of Deeds Office of Hall County; and WHEREAS, Owner has executed, or is about to execute, a Deed of Trust and Note in the sum of $56,500.00, dated October 18, 2002, in favor of United Nebraska Bank, hereinafter referred to as "Lender," payahle with interest and upon the temts and conditions described therein, which Deed of Trust is to be recorded concurrently herewith; and IU '�q_C, IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS SU BORDI NA'ITON AGREEMENT, THE PARTIES CONSULT WITH THEIR ATTORNEYS WITH RESPECT THERETO. WHEREAS, it is a condition precedent to obtaining said loan that said Deed of Trust last above mentioned shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore described, prior and superior to the lien or charge of the Deed of Trust rust first above mentioned; and WIIEREAS, Lender is willing to make said loan, provided the Deed of Trust seeming the same is a lien or charge upon the above - described property prior and superior to the lien or charge of the Deed of Trust first above mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lion or charge of the Deed of Trust first above mentioned to the lien or charge of the deed of Trust in favor of Lender; and WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner; and Beneficiary is willing that the Deed of Trust securing the same shall, when recorded constitute a lien or charge upon said laud which is unconditionally prior and superior to the lien or charge of the Deed of Trust first above mentioned. NOW, THEREFORE, in consideration of the mutual benefits accruing to the parties hereto and other valuable consideration, the receipt and sufficiency of which consideration is hereby acknowledged, and in order to induce Lender to make the loan above referred to, it is hereby declared, understood, and agreed as follows: 'That said Decd of Trust securing said Note in favor of Lender, and any renewals of extensions thereof, shall unconditionally be and remaining all times a lien or charge on the property therein described, prior and superior to the lien or charge of the Deed of Trust first above mentioned.