|
SUBORDINATION AGREEMENT
<br />$Z~ 004665
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />WHEREAS, Philip Sanders, homeowner, desires to execute a mortgage to Superior
<br />Mortgage, Inc, on the following described real estate:
<br />South 88 Feet of Lot Eight (8), Bleck One Hundred Thirty-Three
<br />(133), Union Pacific Railway Second Addition to the City of
<br />Grand Island, Hall County, Nebraska,
<br />and desires to have said mortgage to be a first mortgage lien against the above
<br />described real estate; and,
<br />WEB;REAS, the said Philip Sanders has executed a housing rehabilitation grant
<br />agreement with the City of Grand Island, Nebraska, a municipal corporation, which
<br />has resulted in the filing of a real estate lien against the above described real
<br />estate, which real estate lien is recorded as Document 1k81-004553 in the Register
<br />of Deeds Office, Hall County, Nebraska; and,
<br />WHEREAS, the undersigned City of Grand Island, Nebraska, recognises that this
<br />real estate lien, Document -0F81-004553, should be subordinate to the mortgage of
<br />Superior Mortgage, Inc.
<br />NOW, THEREFORE, in consideration of the sum of One Dollar ($1.00) and other
<br />good and valuable consideration, the receipt of which is hereby acknowledged, the
<br />undersigned City of Grand Island, Nebraska, a municipal corporation, hereby acknow-
<br />ledged the priority of the mortgage of Superior Mortgage, Inc. in the amount of
<br />$27,900.00 which will be given by Philip Sanders, and the undersigned specifically
<br />subordinates the lien recorded as Document 181-004553 of the said City of Grand
<br />Island, Nebraska, in favor of the mortgage to Superior Mortgage, Inc.
<br />The undersigned, by the execution of this Subordination Agreement, does not
<br />release the lien of it's "real estate lien" in any particular manner, but only
<br />subordinates and makes junior such lien to the mortgage of Superior Mortgage, Znc.
<br />Dated this ~ day of ~ 1981.
<br />THE CITY OF GRAND ISLAND, NEBREASKA,
<br />a municipal corporation.
<br />/~ -~{ i
<br />By l 1 P.,., 1 f {:
<br />Mayo
<br />ATTEST:
<br />_~~~
<br />City Clerk
<br />STATE OF NEBRASKA )
<br />ss.
<br />COUNTY OF HALL )
<br />,Th, foregoi g atrument was acknowledged before me this ~ ~ ~ day of
<br />,, 1981, by Robert Kria, Mayor, of The City of Grand Island,
<br />_. ebr aka, a municipal corporation, on behalf of the corporation.
<br />Rk,KpiARY•ShbulNe6~+s G2~~GG~i:/
<br />JERENNE J. GARROUTTE ~/,h.l *.,-, ~i --
<br />MyCumm.E-P-Seut.23,1983 '~ Notary- bllc
<br />My Commission expires ~.,_~~~,,iY~f~t~v,~ ~~a 1g~3
<br />
|