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<br />AGREEMENT SUBORDINATING EXISTING
<br />TRUST DEED TO NEW TRUST DEED
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<br />Agreement made the 5TH day of SEPTEMBER , 2003, between JASON R
<br />MATHEWS and CONNIE J MATHEWS, HUSBAND AND WIFE, of 3007 W 16th, Grand
<br />Island, Hall County, State of Nebraska, herein referred to as trustor, and EQUITABLE
<br />FEDERAL SAVINGS BANK OF GRAND ISLAND, of 113 N. Locust St., City of Grand
<br />Island, County of Hall, State of Nebraska, herein referred to as beneficiary.
<br />The parties recite and declare that:
<br />a. Trustor executed a trust deed on July 12, 2003, in favor of beneficiary, which was
<br />recorded on July 21, 2003, in the office of the Register of Deeds, as Document No. 200309313,
<br />in Hall County, State of Nebraska, covering the following described property (as defined in Neb.
<br />Rev. State. 76 -201) in Hall County, Nebraska.
<br />THE EAST FIFTY SIX FEET (ES6') OF LOT FOUR (4), FRANZEN SUBDIVISION, A REPLAT OF LOT TWENTY
<br />ONE (21), ISLAND ACRES, CITY OF GRAND ISLAND, HALL 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 NINE THOUSAND FIVE HUNDRED AND NO /100 - --
<br />($9,500.00) Dollars, executed on July 12, 2003, by trustor in favor of beneficiary.
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<br />c. Trustor desires to obtain a loan in the amount of Thirty -Six Thousand Five Hundred
<br />and No /100 ($36,500.00) Dollars -- from Equitable Federal Savings Bank of Grand Island, of
<br />113 N. Locust, City of Grand Island, County of Hall, State of Nebraska, herein referred to as
<br />lender, but lender requires that such loan be secured by a trust deed that will be prior to the trust
<br />deed 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 premises, to the trust deed made in favor of lender
<br />in order that trustor may obtain such loan from lender. Said Reed of Trust securing
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<br />lender's lien was recorded o 5 i at Document No. 70�
<br />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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