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<br />
<br />200802139 SUBORDINATION AGREEMENT
<br />
<br />COMES NOW the City of Grand Island, Nebraska, secured party/beneficiary and hereby
<br />partially subordinates its trust deed/real estate lien recorded June 12, 1998 on the following
<br />described real estate:
<br />
<br />Lot Six (6), Block One (1), George Loan's Subdivision, in the City of
<br />Grand Island, Nebraska, Hall County, a/k/a 610 E. 1 ih Street
<br />
<br />It is the intent of this Agreement that the trust deed for amounts loaned by Equitable
<br />Bank (New Lender) to Tony J. and Kristy M. Casarez (Borrowers) that has been or is about to
<br />be filed, shall be superior to the trust deed/real estate lien of the City of Grand Island, its
<br />successors and assigns recorded June 12, 1998, up to the amount of $65,000 plus interest and
<br />amounts advanced to protect the collateral. Thereafter, the City of Grand Island's lien shall
<br />have priority. It is further understood that this subordination shall include all current obligations,
<br />extensions, renewals, advances or modifications made by the City of Grand Island, Nebraska to
<br />Borrowers which is secured by the trust deed/real estate lien recorded June 12, 1998 as
<br />Document Number 98-105678 in the records of the Register of Deeds of Hall County, Nebraska.
<br />Nothing in this Subordination Agreement is intended as a promise to provide financing or make
<br />advances to Borrowers by the City of Grand Island, Nebraska and it is not the intention of the
<br />City of Grand Island, Nebraska to warrant or guarantee the obligations of Borrowers but merely
<br />to partially subordinate its lien interests under the instrument recorded at Document Number 9&.-'_
<br />100G77. It is understood that Equitable Bank (new lender) intends to lend funds to Borrower/s J
<br />but that the subordinated amount is not to exceed $65,000 plus interest and amounts advanced
<br />to protect the collateral. a.OO~ 0 I 3 q I c.'::
<br />Nothing in this instrument is intended to relieve Borrowers of their obligation to make
<br />payments to the City of Grand Island, Nebraska or to subordinate any other lien interests
<br />including, but not limited to, real estate taxes and special assessments.
<br />
<br />Dated: a -c:17-osr
<br />
<br />City of Grand Island, Nebraska
<br />
<br />BY~~~1~_ ~
<br />M garet H6rnady, May
<br />
<br />STATE OF NEBRASKA )
<br />)ss.
<br />COUNTY OF HALL )
<br />
<br />The foregoing instrument was acknowledged before me on J.t..1rlA. o..r1 a 7
<br />20~, by Margaret Hornady, Mayor of the City of Grand Island, Nebraska.
<br />
<br />~D ffi~
<br />
<br />GENERAL NOTARY. State of Nebraska Nota ry Pub I i c
<br />RANAE EDWARDS
<br />My Comm. Exp. Dec. 29, 2010
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