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<br />AGREEMENT SUBORDINATING EXISTING
<br />TRUST DEED TO NEW TRUST DEED
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<br />
<br />Agreement made the 6th day of MARCH , 2008, between GLEN R GARTNER AND
<br />TRACY L OVERSTREET GARTNER, HUSBAND AND WIFE, of 516 W KOENIG ST., GRAND ISLAND,
<br />HALL COUNTY, State of Nebraska, herein referred to as trustor, Equitable Bank, of 113-115 N
<br />Locust St., Grand Island, Hall County, Nebraska, herein referred to as beneficiary and Trustee.
<br />The parties recite and declare that:
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<br />a. Trustor executed a trust deed on February 21, 2007, in favor of beneficiary, which
<br />were recorded on February 28,2007, in the office of the Register of Deeds as Instrument No.
<br />200701543, in Hall County, State of Nebraska, covering the following described property (as
<br />defined in Neb. Rev. State. 76-201) in Hall County, Nebraska.
<br />THE WESTERLY 20 FET LOT LOT SEVEN (7) AND ALL OF LOT SIX (6), BLOCK 100, RAILROAD
<br />ADDITION, CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />
<br />b. The above mentioned trust deed was given as security for Loan described in
<br />trust deed, in the original amount of Forty Seven Thousand One Hundred Fifty Two and No/lOO
<br />Dollars (47,152.00) executed on February 21,2007, by trustor in favor of beneficiary.
<br />
<br />c. Trustor desires to obtain a loan in the amount of Ninety Three Thousand Seven
<br />Hundred and No/lOO Dollars---($93,700.00) from HOME FEDERAL BANK, 221 S Locust St.,
<br />City of Grand Island, County of Hall, State of Nebraska, herein referred to as lender, but lender
<br />requires that such loan be secured by a trust deed that will be prior to the trust deed in favor of
<br />beneficiary.
<br />
<br />d. Beneficiary is willing to subordinate the lien of the trust deeds in their favor insofar as
<br />it encumbers the above-described premises, to the trust deed made in favor of lender in order that
<br />trustor may obtain such loan from lender. For the reasons set forth above, and in consideration of
<br />the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and
<br />agree as follows.
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