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<br />
<br />200510747
<br />
<br />SUBORDINATION AGREEMENT
<br />
<br />NOTICE; THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY ~ 0 . S"
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER
<br />PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECUIRTY
<br />INSTRUMENT.
<br />
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<br />
<br />THIS AGREEMENT, made this ~ day of September, 2005, by 122 E. 8th St.,
<br />owners of the land hereinafter described and hereinafter referred to as "Owners", and
<br />GMAC Mortgage Corporation DBA ditech.com, present owner and holder ofthe Deed of
<br />Trust and Note second and hereinafter described and hereinafter referred to as
<br />"Beneficiary" .
<br />
<br />WITNESSETH:
<br />
<br />THA T, WHEREAS, David M. Job, a single person, DID EXECUTE a Deed of
<br />Trust dated November 13, 1998 to the City of Grand Island, covering:
<br />
<br />Lot Eight (8), Block One Hundred Thirty Six (136), Union
<br />Pacific Railway, 2nd Addition to the City of Grand Island,
<br />Nebraska, Hall County, a/k/a 122 E. 8th Street
<br />
<br />To secure a Note in the sum of $15,255.00 dated November 13, 1998 in favor ofthe City
<br />of Grand Island, which Deed of Trust was recorded November 24, 1998 as Document
<br />No. 98-111514 in the Official Register of Deeds Office of Hall County (remaining
<br />amount owed as of September lfL., 2005 is Six Thousand One Hundred Two Dollars
<br />($6,102.00); and
<br />
<br />WHEREAS, Owner has executed, or are about to execute, a Deed of Trust and
<br />Note in the sum of $15,000.00 dated September .11.e., 2005 in favor of GMAC Mortgage
<br />Corporation DBA ditech.com., hereinafter referred to as "Beneficiary" payable with
<br />interest and upon the terms and conditions described therein, which Deed of Trust is to be
<br />recorded concurrently herewith; and
<br />
<br />IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS
<br />SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR
<br />ATTORNEYS WITH RESPECT THERETO.
<br />
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Deed of
<br />Trust last above mentioned shall unconditionally be and remain at all times a lien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust second above mentioned; and
<br />
<br />WHEREAS, Beneficiary is willing to make said loan, provided the Deed of Trust
<br />,securing the same is a lien or charge upon the above-described property prior and
<br />superior to the lien or charge ofthe Deed of Trust second above mentioned and provided
<br />that Beneficiary will specifically and unconditionally subordinate the lien or charge of the
<br />Deed of Trust second above mentioned to the lien or charge of the Deed of Trust in favor
<br />of Beneficiary; and
<br />
<br />WHEREAS, it is to the mutual benefit of the parties hereto that Beneficiary make
<br />such loan to Owners; and Beneficiary is willing that the Deed of Trust securing the same
<br />shall, when recorded constitute a lien or charge upon said land which is unconditionally
<br />prior and superior to the lien or charge of the Deed of Trust second above mentioned.
<br />
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