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<br />WHEN RECORDED MAIL TO:
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<br />Homecomings Financial, LLC
<br />500 Enterprise Drive Suite 150
<br />Horsham, PA 19044
<br />Attn: Joe Schrader
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<br />SUBORDINATION AGREEMENT
<br />
<br />THIS AGREEMENT, made May 14, 2007, by Mortgage Electronic Registration Systems, Inc.,
<br />present owner and holder of the Note first hereinafter described and hereinafter referred to as "Beneficiary";
<br />
<br />WIT N E SSE T H:
<br />
<br />THAT Jason C. McCormick and Jennifer L. McCormick, Husband and Wife, ("Owner"), did
<br />execute a Deed of Trust dated 8/15/2005, to First Tennessee Bank National Association, as trustee,
<br />covenng:
<br />
<br />Lot Six (6) in Block Seven (7), in Koehler Place, an Addition to the
<br />City of Grand Island, Hall County, Nebraska
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<br />
<br />To secure a Note in the sum of $35,000.00 dated 8/15/2005 in favor of Mortgage Electronic Registration
<br />Systems, Inc. , which Deed of Trust was recorded on 8/1912005 as Instrument No. 200508184, Official
<br />Records.
<br />
<br />WHEREAS, O-;;.er has executed, or is about to execute, a Deed of Trust and note in the sum of
<br />$72,065.00 dated "/5 07 in favor of MortgageIT, Inc., hereinafter referred to as "Lender", payable
<br />with interest and upon the terms and conditions described therein, which Deed of Trust is to be recorded
<br />concurrently herewith; and
<br />
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Deed of Trust last above
<br />mentioned shall unconditionally be and remain at all times a lien or charge upon the land hereinbefore
<br />described, prior and superior to the lien or charge of the Deed of Trust first above mentioned; and
<br />
<br />WHEREAS, Lender is willing to make said loan provided the Deed of Trust securing the same is a
<br />lien or charge upon the above described property prior and superior to the lien or charge of the Deed of Trust
<br />first above mentioned and provided that Beneficiary will specifically and unconditionally subordinate the lien
<br />or charge of the Deed of Trust frrst above mentioned to the lien or charge of the Deed of Trust in favor of
<br />Lender; and
<br />
<br />WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such loan to Owner;
<br />and Beneficiary is willing that the Deed of Trust securing the same shall, when recorded, constitute a lien
<br />or charge upon said land, which is unconditionally prior and superior to the lien or charge of the Beneficiary's
<br />Deed of Trust first above mentioned.
<br />
<br />NOW THEREFORE, in consideration of the mutual benefits accruing to the parties hereto, and
<br />other valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and in order to
<br />induce Lender to make the loan above referred to, it is hereby declared, understood and agreed as follows:
<br />
<br />(1) That said Deed of Trust securing said note in favor of Lender, shall
<br />unconditionally be and remain at all times a lien or charge on the property therein
<br />described, prior and superior to the lien or charge of the Beneficiary's Deed of Trust frrst
<br />above mentioned.
<br />
<br />(2) That Lender would not make its loan above described without this Subordination
<br />Agreement.
<br />
<br />(3) Nothing herein contained shall affect the validity or enforceability of Beneficiary's
<br />Deed of Trust except for the subordination as aforesaid.
<br />
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