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<br /> <br /> <br /> cz) <br /> PO 33 <br /> ~ err ~ ~ ~ L7 G7 -6 Ca <br /> m ....r~ ~n co 1A, Cn C= <br /> 3> C" <br /> W <br /> <br /> w z <br /> <br /> <br /> 201003035 <br /> <br /> UNILATERAL SUBORDINATION AGREEMENT <br /> <br /> WHEREAS, the parties to this agreement are the old lender, namely The Platte <br /> Valley State Bank & Trust Company hereinafter called LENDER #1; and the new lender, V\ <br /> namely First National Bank of Omaha, its Successors and/or Assigns, hereinafter called c' <br /> LENDER #2 and John Steffes and Kathryn Steffes, as husband and wife, hereinafter <br /> called BORROWER, <br /> <br /> WHEREAS, BORROWER is the owner of the real estate hereinafter called <br /> PROPERTY which is described as: Lot One, Grand West Third Subdivision, in the City <br /> of Grand Island, Hall County, Nebraska. <br /> <br /> WHEREAS, BORROWER has executed a Note in a principal amount of $17,487.44 <br /> secured by a Mortgage/Deed of Trust in favor of LENDER #1, covering the <br /> PROPERTY, recorded on May 18, 2007 as INST 0200705034 in the office of the <br /> Register of Deeds of Hall County, Nebraska. <br /> <br /> WHEREAS, BORROWER will be executing or has executed a Note in a <br /> principal amount not to exceed $197,000.00to be secured by a Mortgage/Deed of Trust in <br /> favor of LENDER #2, covering the PROPERTY, and to be recorded in the office of the <br /> Register of Deeds of Hall County, Nebraska. <br /> <br /> NOW THEREFORE, in consideration of $1.00 and other valuable consideration, <br /> receipt whereof is hereby acknowledge, LENDER #1 agrees to subordinate and does <br /> hereby subordinate its liens as shown and referred to above, to the lien of LENDER #2 <br /> as shown and referred to above, but only to the extent of the principal amount of the new <br /> lien as shown in the above paragraph, plus any accrued interest, taxes, insurance or costs <br /> advanced to protect its security. <br /> <br /> Dated this 20th day of April 2010, <br /> iY <br /> <br /> <br /> Platte Valley State Bank & <br /> t q,' LENDER #1) <br /> By. <br /> Kyle herty, V President <br /> STATE OF NEBRASKA ) <br /> )SS: <br /> COUNTY OF BUFFALO ) <br /> <br /> Acknowledged before me this 20th day of A 291 yl~la~fi y, Vice Pre ' ent of <br /> Platte Valley State Bank & Trust Co. o alf of said C r n <br /> <br /> <br /> tart' Public L.au(a( ~3au' <br /> <br /> GENERAL NOTARY - State of Nebraska <br /> hl LAURA A. aAUER <br /> My Comm. Exp. May 22, 2010 <br />