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<br /> AGREEMENT SUBORDINATING EXISTING
<br /> TRUST DEED TO NEW TRUST DEED
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<br />Agreement made the 25THday of APRIL 2006, between JAMES R BRISNEHAN AND
<br />MICHELLE C BRISNEHAN, HUSBAND AND WIFE, of3927 PARTRIDGE CIRCLE.,
<br />GRAND ISLAND, HALL COUNTY, State of Nebraska, herein referred to as trustor, Equitable
<br />Bank, of 113 N. Locust, Grand Island, Hall County, Nebraska, herein referred to as beneficiary
<br />and trustee.
<br />
<br />c:y
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<br />
<br />The parties recite and declare that:
<br />
<br />a. Trustor executed a trust deed on March 22, 2006, in favor of beneficiary/trustee,
<br />which was recorded on March 28,2006, in the office of the Register of Deeds, of Hall County,
<br />State of Nebraska, as Document No. 200602690 covering the following described property (as
<br />defined in Neb. Rev. State. 76-201) in Hall County, Nebraska.
<br />Lot 11, Block 3, Summerfield Estates Fourth Subdivision, 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 Thirty Thousand Eighty Five Dollars and 50/1 00---
<br />($30,085.50) Dollars, executed on March 22,2006, by trustor in favor of beneficiary/trustee.
<br />
<br />c. Trustor desires to obtain a loan in the amount of Two Hundred Seventy-Four
<br />
<br />Thousand Five Hundred and No/IOO ($274,500.00) from EQUITABLE BANK, 113-115 N.
<br />Locust St., City of Grand Island, County of Hall, State of Nebraska, herein referred to as lender,
<br />but lender requires that such loan be secured by a trust deed that will be prior to the trust deed in
<br />favor of beneficiary/trustee.
<br />d. Beneficiary/Trustee is willing to subordinate the lien of the trust deed in their favor
<br />insofar as it encumbers the above-described premises, to the trust deed made in favor of lender in
<br />order that trustor may obtain such loan from lender. Said Deed of Trust securing lender's lien
<br />was recorded on tv'\ A. ~ C) I 01 oaG at Document No.
<br />.~()\Jl~ () 3<6 ~ G." in the Office of the Hall County Register of Deeds.
<br />For the reasons set forth above, and in consideration ofthe mutual covenants and
<br />promises of the parties hereto, trustor and beneficiary covenant and agree as follows:
<br />
<br />SECTION ONE
<br />SUBORDINATION
<br />
<br />As an inducement to lender to grant such loan to trustor, beneficiary/trustee and trustor
<br />hereby subordinate the above-described trust deed of March 22, 2006, in favor of
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