|
~~ ~ ~ ~ ~~.~ ~'
<br />°
<br />° ~
<br />° rn
<br />.~.~. rn cn • _ ~
<br />N ~ ~ ~ y ca --~ O m
<br /> _
<br />~ ~,~,^ ~ _ ~ O ~, ° ~ ~. co a
<br />~ -v ~ ~~ © z
<br />~ ~ rn ~ ~ ~ ~
<br /> C7 ~ C
<br />~r ~ ~
<br />
<br /> C,U ~
<br />~~ ~
<br />.,~.^ Z
<br />
<br /> AGREEMENT SUBORDINATING EXISTING
<br /> TRUST DEED TO NEW TRUST DEED
<br /> ~b
<br />~
<br /> ~~'
<br /> Agreement ma de the 5th day of June, 2009, between Douglas A Berlie and Barbara J Berlie,
<br />Husband and Wife, of 4021 Craig Dr., Grand Island, Hall County, State of Nebraska, herein
<br />referred to as trustor, Equitable Bank, of 113-115 N. Locust St., Grand Island, Hall County,
<br />Nebraska, herein referred to as beneficiary.
<br />The parties recite and declare that:
<br />a. Trustor executed a trust deed on June 11, 2007, in favor of beneficiary, which was
<br />recorded on June 18, 2007, in the office of the Register of Deeds, of Hall County, State of
<br />Nebraska, as Document No. 200705070 covering the following described property (as defined in
<br />Neb. Rev. State. 76-201) in Hall County, Nebraska.
<br />Lot Four (4), Grand West Fourth Subdivison, in the City of Grand Island, Hall
<br />County, Nebraska
<br />b. The above mentioned trust deed was given as security for Loan, described in such
<br />trust deed, in the original amount of Twenty Five Thousand and No/100---($25,000.00) Dollars,
<br />executed on June 11, 2007, by trustor in favor of beneficiary.
<br />c. Trustor desires to obtain a loan in the amount of One Hundred Fifty Thousand Five
<br />Hundred Dollars and No/100----($1SO,SOO.QO) from EQUITABLE BANK, 113-115 N. Locust
<br />St., City of Grand Island, County of Hall, State of Nebraska, herein referred to as lender, but
<br />lender requires that such loan be secured by a trust deed that will be prior to the trust deed in
<br />favor of beneficiary.
<br />d. Beneficiary is willing to subordinate the lien of the trust deed 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. Far the reasons set fo~h above, and in consideration of
<br />the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and
<br />agree as follows:
<br />SECTION ONE
<br />SUBORDINATION
<br />As an inducement to lender to grant such loan to trustor, beneficiary and trustor hereby
<br />subordinate the above-described trust deed of June 11, 2007, in favor of beneficiary, to the trust
<br />~'
<br />deed in favor of lender that is being recorded with this agreement arn,~~~~. ld, a(aOQ~ at
<br />Document No. ~~f b_~~a.~...>_ in the Office of the Hall County Register of Deeds.
<br />Beneficiary and trustor further agree that the lien of the trust deed in favor of lender shall be and
<br />is in all respects a lien prior and superior to the lien of the trust deed in favor of beneficiary.
<br />
|