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When recorded mail to: The Equitable Building and Loan Association 619 N.DiersAve. 200501520 Grand Island, NE 68803 SUBORDINATION AGREEMENT The undersigned The Equitable Building and Loan Association, FSB (undersigned hereinafter designated as "Subordinator "), is the holder and owner of a Security Deed hereinafter designated as "Deed of Trust/Mortgage" Charles E. Steele and Mary H. Steele (hereinafter designated as the "Borrower "), dated July 9, 2001 recorded July 16, 2001 in (Deed of TrusVMortgage) Book 2001, Page 06937, of record in the Office of the County /Court Clerk for Hall County, Nebraska, which was made to secure an indebtedness of $9,644.27. The said Borrower has applied for a loan not to exceed the sum of $39,791.00 secured by a Deed of Trust/Mortgage conveying said property to MIDFIRST BANK (hereinafter designated as the "Lender "). (Said Deed of Trust/Mortgage will be filed of (�� # Pa I �3Fs� record on the date of % a Deed of Trust -Beek 0 ge t-i The said Lender has declined to make such a loan unless said outstanding security shall be subordinated to said new loan and the Deed of Trust/Mortgage securing it. THEREFORE, in consideration of ONE ($1.00) DOLLAR, in hand paid by the said Borrower to the Subordinator and in consideration of the consummation of said loan in reliance upon this instrument, the Subordinator hereby waives and subordinates all right, title or interest under said outstanding Deed of Trust/Mortgage above set forth, or otherwise, in or to the property therein described, as against said loan to be so made by the said Lender, so that the Deed of Trust/Mortgage to be executed by the said Borrower to the said Lender shall convey title to said property superior to said outstanding Deed of Trust/Mortgage of the Subordinator and superior to the indebtedness thereby secured. This Subordination Agreement shall be binding upon the successors, heirs and assigns of the Subordinator, and shall operate to the benefit of the grantee in said Deed of Trust/Mortgage, the successors, heirs and assigns of said grantee, and of any purchaser at any foreclosure sale there under, and shall apply with like force and effect to any renewal thereof. The said outstanding Deed of Trust/Mortgage now held by the Subordinator shall remain otherwise in full force and effect, the waiver and subordination herein provided being limited in applications to the proposed loan herein set forth, or any renewal thereof.