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<br />_ _ AGREEMENT SUBORDINATING EXISTING
<br /> TRUST DEED TO NEW TRUST DEED ~ ~
<br />
<br /> Agreement made the 12th day of Auc~U5'r, 2010, between BRIAN J. SUTLER AND ANGELA ~
<br /> ~'
<br /> M. BUTLER, HUSBAND AND WIFE, of 1509 MANSFIELD RD., GRAND ISLAND, HALL
<br /> COUNTY, State of Nebraska, herein referred to as trustor, Equitable Bank of 113-115 N. Locust
<br /> St., Grand Island, Hall County, Nebraska, herein referred to as beneficiary.
<br /> The parties recite and declare that:
<br />a. Trustor executed a trust deed an July 1 S. 2010, in favor of beneficiary, which. was
<br />recorded on July 20, 2010, in the office of the Register of Deeds, of Hall County,
<br />State of Nebraska, as Document No. 201005022 covering the following described
<br />property (as defined in Neb. Rev. State. 76-201) in Hall County, Nebraska.
<br />LOT THIRTY ONE (31), GRAND WEST SUBDIVISION IN THE CITY OF GRAND ISLAND, HALL
<br />COUNTY, NEBRASKA
<br />b. The above mentioned trust deed was given as security for Loan, described in such
<br />trust deed, in the original amount of Thirty Thousand Fifty-Six Dollars and No/100---
<br />($30,056.00) Dollars, executed on July 15, 2010, by trustor in favor ofbeneficiary.
<br />c. Trustor desires to obtain a loan in the amount of One Hundred Sixteen Thousand and
<br />No/100------- ($116,000.00) from EQUITABLE BANK, 113-11 S N. Locust St., City of Grand
<br />Island, County of Hall, State of Nebraska, herein referred to as lender, but lender requires that
<br />such loan be secured by a trust deed that will be prior to the trust deed in favor ofbeneficiary.
<br />d. Beneficiary is willing to subordinate the lien of the trust deed in their favor insofar as
<br />it encumbers the above-described premises, to the trust deed. made in favor of lender in order that
<br />trustor may obtain. such loan from lender. For the reasons set forth above, and in consideration of
<br />the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and
<br />agree as follows:
<br />SECTION ONE
<br />SUBORDINATION
<br />As an inducement to lender to grant such loan to trustor, beneficiary and trustor hereby
<br />subordinate the above-described trust deed of July 1 S, 2010, in favor of beneficiary, to the trust
<br />deed in favor of lender that is being recorded with this agreement on o`~b~0 at
<br />Document No. (~~d ~ ob~8~.5 _ _ in the Office of the Ha11 County Register of Deeds.
<br />Beneficiary and trustor further agree that the lien of the trust deed in favor of lender shall be and
<br />is in all respects a lien prior and superior to the lien of the trust deed in favor of beneficiary.
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