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<br /> AGREEMENT SUBORDINATING EXISTING /SSe')
<br /> TRUST DEED TO NEW TRUST DEED
<br />
<br />
<br />
<br />Agreement made the 1ST day of NOVEMBER, 2005, between ROBERT RIEDY AND KRISTIN
<br />RIEDY, HUSBAND AND WIFE, of 320 REDWOOD RD., GRAND ISLAND, HALL
<br />COUNTY, State of Nebraska, herein referred to as trustor, Equitable Federal Savings Bank of
<br />Grand Island, of 113 N. Locust, Grand Island, Hall County, Nebraska, herein referred to as
<br />beneficiary.
<br />
<br />The parties recite and declare that:
<br />
<br />a. Trustor executed a trust deed on September 19, 2005, in favor of beneficiary, which
<br />was recorded on September 26,2005, in the office ofthe Register of Deeds, of Hall County,
<br />State of Nebraska, as Document No. 200509531 covering the following described property (as
<br />defined in Neb. Rev. State. 76-201) in Hall County, Nebraska.
<br />SEE ATTACHED EXHIBIT "A"
<br />
<br />b. The above mentioned trust deed was given as security for Loan, described in such
<br />trust deed, in the original amount of Two Hundred Forty Thousand Two Hundred Fifteen and
<br />No/100---($240,2l5.00) Dollars, executed on September 19, 2005, by trustor in favor of
<br />beneficiary.
<br />
<br />c. Trustor desires to obtain a loan in the amount of Thirty-Nine Thousand and No/lOO
<br />
<br />($39,000.00) from EQUITABLE FEDERAL SAVINGS BANK OF GRAND ISLAND, 113-115
<br />
<br />N. Locust St., 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 />
<br />deed in favor of beneficiary.
<br />
<br />d. Beneficiary is willing to subordinate the lien of the trust deed in their favor insofar as
<br />
<br />it encumbers the above-described premises, to the trust deed made in favor of lender in order that
<br />
<br />trustor may obtain such loan from lender. Said Deed of Trust securing lender's lien was recorded
<br />on tJ~ ot('1,oO~ at Document NO.~, in the
<br />Office of the Hall County Register of Deeds.
<br />
<br />For the reasons set forth above, and in consideration ofthe mutual covenants and
<br />
<br />promises ofthe parties hereto, trustor and beneficiary covenant and agree as follows:
<br />
<br />SECTION ONE
<br />SUBORDINATION
<br />As an inducement to lender to grant such loan to trustor, beneficiary and trustor hereby
<br />subordinate the above-described trust deed of September 19, 2005, in favor of beneficiary, to the
<br />trust deed in favor of lender that is being recorded with this agreement. Beneficiary and trustor
<br />
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