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<br />WHEREAS, Commercial Federal Bank, a National Banking Corporation, hereinafter _ (�
<br />referred to as "Commercial Federal Batik", is the Beneficiary and holder of a Deed of Trust executed �\
<br />by Brian D. Sands and Kris L. Sands, husband and wife, (hereinafter called the 'Borrower ") dated `
<br />October 31, 2002, and recorded November 20, 2002, as instrument No. 2002 - 12817, of the records of
<br />Hall County, Nebraska, covering the following described real estate, to -wit:
<br />Lot 26 in Island Acres Number 7, in the City of Grand Island, Hall County, Nebraska;
<br />(the "Subject Real Estate")
<br />WHEREAS, Borrowers have obtained a loan in the amount of $61,500.00 from
<br />TierOne Bank, hereinafter referred to as "Lender", which loan is secured by drat Deed of Trust dated
<br />July 1, 2003, and recorded July 8, 2003, as Instrument No. 2003 -08681 of the records of Hall County,
<br />Nebraska, covering the Subject Real Estate; and
<br />WHEREAS, Lender's Deed of Trust should be paramount and superior to the lien of
<br />Commercial Federal Bank.
<br />NOW, THEREFORE, in consideration of One Dollar ($1.00) and other valuable
<br />consideration to Commercial Federal Bank, the receipt whereof is hereby acknowledged, Commercial
<br />Federal Bank does hereby waive the priority of its Deed of Trust as described above and any other
<br />security it may have in the subject real estate and agrees that said Lender's Deed of Trust shall be
<br />superior to said Commercial Federal Bank's Deed of Trust and Commercial Federal Bank agrees that
<br />its Deed of Trust executed and recorded prior in time to said Lender's Deed of Trust shall be subject,
<br />junior, and subordinate to the Deed of Trust of Lender.
<br />Provided, however, that nothing herein contained shall operate in any way to release
<br />or affect the validity of the Commercial Federal Bank's security instruments as liens upon the Subject
<br />Real Estate or to otherwise affect the priority of said Commercial Federal Bank's lien except as
<br />herein provided.
<br />This Agreement shall be binding upon the undersigned and its successors and assigns.
<br />Executed this /-day of August, 2003.
<br />Commercial Federal Bank
<br />B l
<br />y Its
<br />STA'L'E OF NEBRASKA )
<br />�SS
<br />COUNTY OF rc�;
<br />On thi _ day of August, 2003, before me the undersigned, a Notary Public,
<br />personally came e 1 i e 4Ly,, — _— _ to--e5, W�L -/ -. _ of
<br />Commercial Federal Bank, by me known to be the identical person whose name is affixed to the
<br />foregoing instrument in said capacity and acknowledged the execution thereof to be the voluntary act
<br />and deed of said person and the voluntary act and deed of said corporation.
<br />WITNESS mv hand and notarial seal the day and year last above written.
<br />GENERAL NOTARY-State Of NeNtukA
<br />11; VICKI S. NEPODAL
<br />My Comm. Exp. Feb. 16, 1005
<br />_ Notary Publi c
<br />My Commission Expires: 0P-/,5- ��
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<br />SUBORDINATION AGREEMENT m
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<br />WHEREAS, Commercial Federal Bank, a National Banking Corporation, hereinafter _ (�
<br />referred to as "Commercial Federal Batik", is the Beneficiary and holder of a Deed of Trust executed �\
<br />by Brian D. Sands and Kris L. Sands, husband and wife, (hereinafter called the 'Borrower ") dated `
<br />October 31, 2002, and recorded November 20, 2002, as instrument No. 2002 - 12817, of the records of
<br />Hall County, Nebraska, covering the following described real estate, to -wit:
<br />Lot 26 in Island Acres Number 7, in the City of Grand Island, Hall County, Nebraska;
<br />(the "Subject Real Estate")
<br />WHEREAS, Borrowers have obtained a loan in the amount of $61,500.00 from
<br />TierOne Bank, hereinafter referred to as "Lender", which loan is secured by drat Deed of Trust dated
<br />July 1, 2003, and recorded July 8, 2003, as Instrument No. 2003 -08681 of the records of Hall County,
<br />Nebraska, covering the Subject Real Estate; and
<br />WHEREAS, Lender's Deed of Trust should be paramount and superior to the lien of
<br />Commercial Federal Bank.
<br />NOW, THEREFORE, in consideration of One Dollar ($1.00) and other valuable
<br />consideration to Commercial Federal Bank, the receipt whereof is hereby acknowledged, Commercial
<br />Federal Bank does hereby waive the priority of its Deed of Trust as described above and any other
<br />security it may have in the subject real estate and agrees that said Lender's Deed of Trust shall be
<br />superior to said Commercial Federal Bank's Deed of Trust and Commercial Federal Bank agrees that
<br />its Deed of Trust executed and recorded prior in time to said Lender's Deed of Trust shall be subject,
<br />junior, and subordinate to the Deed of Trust of Lender.
<br />Provided, however, that nothing herein contained shall operate in any way to release
<br />or affect the validity of the Commercial Federal Bank's security instruments as liens upon the Subject
<br />Real Estate or to otherwise affect the priority of said Commercial Federal Bank's lien except as
<br />herein provided.
<br />This Agreement shall be binding upon the undersigned and its successors and assigns.
<br />Executed this /-day of August, 2003.
<br />Commercial Federal Bank
<br />B l
<br />y Its
<br />STA'L'E OF NEBRASKA )
<br />�SS
<br />COUNTY OF rc�;
<br />On thi _ day of August, 2003, before me the undersigned, a Notary Public,
<br />personally came e 1 i e 4Ly,, — _— _ to--e5, W�L -/ -. _ of
<br />Commercial Federal Bank, by me known to be the identical person whose name is affixed to the
<br />foregoing instrument in said capacity and acknowledged the execution thereof to be the voluntary act
<br />and deed of said person and the voluntary act and deed of said corporation.
<br />WITNESS mv hand and notarial seal the day and year last above written.
<br />GENERAL NOTARY-State Of NeNtukA
<br />11; VICKI S. NEPODAL
<br />My Comm. Exp. Feb. 16, 1005
<br />_ Notary Publi c
<br />My Commission Expires: 0P-/,5- ��
<br />STA'L'E OF NEBRASKA )
<br />�SS
<br />COUNTY OF rc�;
<br />On thi _ day of August, 2003, before me the undersigned, a Notary Public,
<br />personally came e 1 i e 4Ly,, — _— _ to--e5, W�L -/ -. _ of
<br />Commercial Federal Bank, by me known to be the identical person whose name is affixed to the
<br />foregoing instrument in said capacity and acknowledged the execution thereof to be the voluntary act
<br />and deed of said person and the voluntary act and deed of said corporation.
<br />WITNESS mv hand and notarial seal the day and year last above written.
<br />GENERAL NOTARY-State Of NeNtukA
<br />11; VICKI S. NEPODAL
<br />My Comm. Exp. Feb. 16, 1005
<br />_ Notary Publi c
<br />My Commission Expires: 0P-/,5- ��
<br />
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