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80-- p48 <br />SIIBORDINATION AGREEMENT <br />KNOW ALL MEN BY THESE PRESENTS: <br />,~ <br />WHEREAS, the undersigned, First Savings Company, Grand Island,. <br />Nebraska, is now the owner and holder of a certain promissory note <br />and security agreement dated June 13, 1978, such note being secured <br />by a real estate mortgage on the following described real estate, <br />to-wit: <br />Lot Eleven (11) in Block Five (5) in Morris Fourth <br />Addition, an Addition to the City of Grand Island, <br />Hall County, Nebraska, <br />which note was duly made, executed, and delivered to the undersigned, <br />First Savings Company, Grand Island, Nebraska, by Harold E. Vollmer <br />and JoAnn K. Vollmer, husband and wife, and Dennis A. Lilienthal <br />and Jana K. Lilienthal, husband and wife, and the real estate <br />mortgage was duly made, executed, and delivered to the undersigned, <br />First Savings Company, by Harold E. Vollmer and JoAnn K. Vollmer, <br />husband and wife, hereinafter referred to as Mortgagors, and such <br />mortgage was duly filed and recorded in the Office of the Register <br />of Deeds of Ha11 County, Nebraska, being recorded as document <br />rnimber 78-003862; and _ <br />WHEREAS, such Mortgagors desire to (sorrow from The First <br />National Bank of Grand Island, Grand Island, Nebraska, in order <br />to pay off a mortgage to Equitable Building and Loan Association <br />of Grand Island, Nebraska, which mortgage was a prior mortgage <br />to the mortgage heretofore given to First Savings Company, Grand <br />Island, Nehraska, referred to above and The First National Bank <br />of Grand island, Grand Island, Nebraska, has agreed to loan the <br />swn of Twenty Five Thousand Dollars ($2 ,000.00) to Harold E. Vollmer <br />and JoAnn R. Vollmer, husband and wife, PROVIDING tHA'r First Savings <br />Company, Grand Island, Nebraska, executes a Subordination Agreement <br />subordinating its real estate rrx~rtgage heretofore described herein <br />to the mortgage Co ?he First National Bank of Grand Island, Grand <br />Island, Nebraska. <br />NOW, THEREFORE, in consideration of the sum of One Dollar <br />(61.00} and the Lending to the Mortgagors by the First National <br />Bank of Grand Island, Grand Island, Nebraska, a sum of money for <br />the purposes of paying off the mortgage to Equitable Bui1 ding and <br />Loan Association of Crand Island recorded in Book 145 of Mortgage. <br />Records at Page 143 of the records of the Register of Deeds of <br />Hall County, Nebraska, the undersigned First Savings Company, <br />Grand Island, Nebraska, hereby acknowledges and agrees that the said <br />mortgage to The First National Bank of Grand t:sland, Grand Island, <br />Nebraska, in the princLpal amount of I\,ranty Five 'Phousand Dollara <br />($25,000.00) as document no. 80-001881 in the Office of the Register <br />Deeds of Hall County, Nebraska, is, and shall be, a first rn~rtgage <br />lien on the real property hereint?efore described and Che interest <br />which the undersigned has in and to such real estate by virtue of <br />Its mortgage recorded as document no. 78-003862 in the Recoriis of <br />the Register of Deeds of Hail County, Nebraska, be subordinate and <br />