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<br />AGREEMENT SUBORDINATING EXISTING
<br />TRUST DEED TO NEW TRUST DEED
<br />
<br />Agreement made the 11 th day of August. 2008, between MELVIN LEGG AND JACQUELYN
<br />A LEGG, HUSBAND AND WIFE, of8637 S LOCUST, DONIPHAN, HALL COUNTY, State
<br />of Nebraska, herein referred to as trustor, Equitable Bank, formerly known as, Equitable Federal
<br />Savings Bank of Grand Island, formerly known as The Equitable Building and Loan Assoication
<br />of Grand Island, Nebraska, of 113-115 N. Locust St., Grand Island, Hall County, Nebraska,
<br />herein referred to as beneficiary.
<br />The parties recite and declare that:
<br />
<br />a. Trustor executed a trust deed on September 19, 2002, in favor of beneficiary, which
<br />was recorded on September 24,2002, in the office ofthe Register of Deeds, of Hall County,
<br />State of Nebraska, as Document No. 200210171 covering the following described property (as
<br />defined in Neb. Rev. State. 76-201) in Hall County, Nebraska.
<br />
<br />LOT ONE (1), FLOYD ACRES SUBDIVISION, HALL COUNTY, NEBRASKA
<br />
<br />b. The above mentioned trust deed was given as security for Loan, described in such
<br />trust deed, in the original amount of Thirty Thousand and Noll 00---($30,000.00) Dollars,
<br />executed on September 19, 2002, by trustor in favor of beneficiary.
<br />
<br />c. Trustor desires to obtain a loan in the amount of One Hundred Twelve Thousand and
<br />
<br />No/lOO--- ($112,000.00) Dollars, :from EQUITABLE BANK, 113-115 N. Locust St., City of
<br />
<br />Grand Island, County of Hall, State of Nebraska, herein referred to as lender, but lender requires
<br />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 ofthe trust deed in their favor insofar as
<br />
<br />it encumbers the above-described premises, to the trust deed made in favor oflender in order that
<br />
<br />trustor may obtain such loan from lender. For the reasons set forth above, and in consideration of
<br />
<br />the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and
<br />
<br />agree as follows:
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