200610762 - Laserfiche WebLink

Browse

200610762 SUBORDINATE LIEN RIDER Loan No.: 3006111257 THIS SUBORDINA TE LIEN RIDER is made this Thirtieth day of November,2006, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to PrimeLending, a PlainsCapital Company (the "Lender") of the same date and covering the Property described in the Security Instrument and located at: 506 SOUTH PLUM ROAD GRAND ISLAND, NE 68801-7863 [property Address] SUBORDINATE LIEN COVENANTS: In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: A. Prior Mortgages and Deeds of Trust; Charges; Liens. Notwithstanding the provisions set forth in the second paragraph of Section 4 of the Security Instrument, Borrower and Lender acknowledge their intent that the Security Instrument be subordinate to one or more mortgages, deeds of trust or other security instruments that has priority over it (each a "Superior Security Instrument") and agree that the provisions of such second paragraph of Section 4 shall be inapplicable to any Superior Security Instrument. Borrower agrees to perform all of Borrower's obligations under any Superior Security Instrument, including Borrower's covenants to make payments when due. B. Funds for Escrow Items. Notwithstanding the provisions of Section 3 of the Security Instrument, Borrower shall not be obligated to make payments of Funds for Escrow Items to Lender to the extent that Borrower makes such payments to the holder of a Superior Security instrument if such holder is an institutional lender. C. Property Insurance. Lender agrees that its right to hold insurance policies and renewals, as set forth in Section 5 of the Security Instrument, shall be subject to the terms of any Superior Security Instrument. (R&A) RAOl50545 - rdsubordin.ra - rev. 08/22/2005 Page 1 ~