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SUBORDINATION AGREEMENT
<br />NOTICE; THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY -
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER
<br />PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECUIRTY
<br />INSTRUMENT.
<br />THIS AGREEMENT, made this 25th day of January, 2005, by Troy Lehn and
<br />Cathy Lehn, owners of the land hereinafter described and hereinafter referred to as
<br />"Owners ", and Major Mortgage, present owner and holder of the Mortgage and Note first
<br />and hereinafter described and hereinafter referred to as "Beneficiary ".
<br />WITNESSETH:
<br />THAT, WHEREAS, Troy and Cathy Lehn, Husband and wife, DID EXECUTE a
<br />Deed of Trust dated October 15, 1999 to the City of Grand Island, covering:
<br />Lot Ten (10), Houghkirk Subdivision to the City of
<br />Grand Island, NE, Hall County, a/k/a 1216 Warren Lane EXCEPTING therefrom
<br />a tract of land more particularly described in Warranty Deed recorded as doc#
<br />To secure a Note in the sum of $15,240.00 dated October 15, 1999 in favor of the City of
<br />Grand Island, which Deed of Trust was recorded October 19, 1999 as Document No.
<br />0099110163 in the Official Register of Deeds Office of Hall County; and 95-102886.
<br />WHEREAS, Owner has executed, or are about to execute, a Deed of Trust and
<br />Note in the sum of $66,000.00 dated January 31, 2005 in favor of Major Mortgage,
<br />hereinafter referred to as "Lender" payable with interest and upon the terms and
<br />conditions described therein, which Deed of Trust is to be recorded concurrently
<br />herewith; and as Do "ment No. 200500938.,
<br />IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS
<br />SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR
<br />ATTORNEYS WITH RESPECT THERETO.
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Deed of
<br />Trust last above mentioned shall unconditionally be and remain at all times a lien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust first above mentioned; and
<br />WHEREAS, Lender is willing to make said loan, provided the Deed of Trust
<br />securing the same is a lien or charge upon the above - described property prior and
<br />superior to the lien or charge of the Deed of Trust first above mentioned and provided
<br />that Beneficiary will specifically and unconditionally subordinate the lien or charge of the
<br />Deed of Trust first above mentioned to the lien or charge of the Deed of Trust in favor of
<br />Lender; and
<br />WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such
<br />loan to Owners; and Beneficiary is willing that the Deed of Trust securing the same shall,
<br />when recorded constitute a lien or charge upon said land which is unconditionally prior
<br />and superior to the lien or charge of the Deed of Trust first above mentioned.
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<br />SUBORDINATION AGREEMENT
<br />NOTICE; THIS SUBORDINATION AGREEMENT RESULTS IN YOUR SECURITY -
<br />INTEREST IN THE PROPERTY BECOMING SUBJECT TO AND OF LOWER
<br />PRIORITY THAN THE LIEN OF SOME OTHER OR LATER SECUIRTY
<br />INSTRUMENT.
<br />THIS AGREEMENT, made this 25th day of January, 2005, by Troy Lehn and
<br />Cathy Lehn, owners of the land hereinafter described and hereinafter referred to as
<br />"Owners ", and Major Mortgage, present owner and holder of the Mortgage and Note first
<br />and hereinafter described and hereinafter referred to as "Beneficiary ".
<br />WITNESSETH:
<br />THAT, WHEREAS, Troy and Cathy Lehn, Husband and wife, DID EXECUTE a
<br />Deed of Trust dated October 15, 1999 to the City of Grand Island, covering:
<br />Lot Ten (10), Houghkirk Subdivision to the City of
<br />Grand Island, NE, Hall County, a/k/a 1216 Warren Lane EXCEPTING therefrom
<br />a tract of land more particularly described in Warranty Deed recorded as doc#
<br />To secure a Note in the sum of $15,240.00 dated October 15, 1999 in favor of the City of
<br />Grand Island, which Deed of Trust was recorded October 19, 1999 as Document No.
<br />0099110163 in the Official Register of Deeds Office of Hall County; and 95-102886.
<br />WHEREAS, Owner has executed, or are about to execute, a Deed of Trust and
<br />Note in the sum of $66,000.00 dated January 31, 2005 in favor of Major Mortgage,
<br />hereinafter referred to as "Lender" payable with interest and upon the terms and
<br />conditions described therein, which Deed of Trust is to be recorded concurrently
<br />herewith; and as Do "ment No. 200500938.,
<br />IT IS RECOMMENDED THAT, PRIOR TO THE EXECUTION OF THIS
<br />SUBORDINATION AGREEMENT, THE PARTIES CONSULT WITH THEIR
<br />ATTORNEYS WITH RESPECT THERETO.
<br />WHEREAS, it is a condition precedent to obtaining said loan that said Deed of
<br />Trust last above mentioned shall unconditionally be and remain at all times a lien or
<br />charge upon the land hereinbefore described, prior and superior to the lien or charge of
<br />the Deed of Trust first above mentioned; and
<br />WHEREAS, Lender is willing to make said loan, provided the Deed of Trust
<br />securing the same is a lien or charge upon the above - described property prior and
<br />superior to the lien or charge of the Deed of Trust first above mentioned and provided
<br />that Beneficiary will specifically and unconditionally subordinate the lien or charge of the
<br />Deed of Trust first above mentioned to the lien or charge of the Deed of Trust in favor of
<br />Lender; and
<br />WHEREAS, it is to the mutual benefit of the parties hereto that Lender make such
<br />loan to Owners; and Beneficiary is willing that the Deed of Trust securing the same shall,
<br />when recorded constitute a lien or charge upon said land which is unconditionally prior
<br />and superior to the lien or charge of the Deed of Trust first above mentioned.
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