|
<br />I\,)
<br /><Sl
<br /><Sl
<br />(J)
<br /><Sl
<br />co
<br />-.....J
<br />......
<br />(J)
<br />
<br />p
<br />=-
<br />i;
<br />!
<br />
<br />1lO
<br />m
<br />"TI
<br />c:
<br />Z
<br />Qnc
<br />rn>'~
<br />n~
<br />"'.....
<br />
<br />~.)
<br />n ~"......:
<br />ji'l;;
<br />
<br />\J\
<br />U\
<br />o
<br />
<br /> ,-......>
<br /> ,':;::;';:;') 0 Ul
<br /> 4'::'~
<br /> <~ 0 .:...~
<br /> ...........'....l c: J:.~
<br /> ... ." (J) :::z: --~
<br />;;;, " r''''''' -., fTl
<br />PI -0 -<
<br /> 0
<br />C") N 0 ""T1
<br />C) CD ...,., .,~~
<br />--""I , (
<br /> If -,. [".'
<br />!,:"') :> en
<br />r'TI r -U
<br />Pl ::3 r- ::>J
<br />('"1 r :t,..
<br />UJ (fJ
<br /> -!: ;:><::
<br /> l>
<br /> Cl '--"'--"
<br /> a:> (P
<br /> en
<br />
<br />SUBORDINATION AGREEMENT
<br />
<br />NOTICE; THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY
<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 />
<br />THIS AGREEMENT, made this 26th day of September, 2006, by Dean A. and
<br />Patricia D. Bierhaus, husband and wife, owners of the land hereinafter described and
<br />hereinafter referred to as "Owner", and New Century Mortgage, present owner and
<br />holder of the Deed of Trust and Note first and hereinafter described and hereinafter
<br />referred to as "Beneficiary".
<br />
<br />WITNESSETH:
<br />
<br />THAT, WHEREAS, Dean A. and Patricia D. Bierhaus, married persons, DID
<br />EXECUTE a Deed of Trust dated February 23,2006 to the City of Grand Island,
<br />covering:
<br />
<br />Lot 14, Freedom Acres Subdivision, Hall County, Nebraska
<br />ID # 400155478
<br />
<br />To secure a Note in the sum of$5,81O.00 February 23,2006 in favor of the City of Grand
<br />Island, which Deed of Trust was recorded March 31, 2006 as Document No. 200602814
<br />in the Official Register of Deeds Office of Hall County; and
<br />
<br />o~
<br />~[
<br />Clar
<br />
<br />~I
<br />
<br />--.]3
<br />~l
<br />O?z
<br />o
<br />
<br />~,
<br />\~
<br />
<br />WHEREAS, Owner has executed, or are about to execute, a Deed of Trust and
<br />Note in the sum of $108,000.00 dated September 26: 2006 in favor of New Century
<br />Mortgage, hereinafter referred to as "Beneficiary" payable with interest and upon the
<br />terms and conditions described therein, which Deed of Trust is to be recorded Doc...:Mdttlo-C/67/S
<br />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 first 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 of the Deed of Trust first above mentioned and provided
<br />that Beneficiary will specifically and unconditionally subordinate the lien or charge of the
<br />Deed of Trust first above mentioned to the lien or charge of the Deed of Trust in favor of
<br />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 first above mentioned.
<br />
|