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<br /> AGREEMENT SUBORDINATING EXISTING
<br /> TRUST DEED TO NEW TRUST DEED
<br />
<br /> Agreement made the 27th day of July, 2010, between Jeffrey W. Perry, a single person and
<br /> Scott S. Zuidema, a single person, of 1302 % W 4"' Street, Grand Island, Hall County,
<br />
<br /> State of Nebraska, herein referred to as trustor, Daniel R. Purdy and Annette L. Purdy,
<br /> Husband and Wife, of 3559 Hillside Drive, Grand Island, Hall County, Nebraska, herein
<br />
<br /> referred to as beneficiary.
<br />
<br />
<br /> The parties recite and declare that:
<br />
<br /> a. Trustor executed a trust.deed on October 9, 2009, in favor of beneficiary, which was
<br /> recorded on October 13, 2009, in the office of the Register of Deeds, of Hall County, State of
<br />
<br /> Nebraska, as Document No. 200908156 covering the following described property (as defined in
<br /> Neb. Rev. State. 76-201) in Hall County, Nebraska.
<br />
<br />
<br /> The Southerly Seventy Five (75) feet of Lot Ten (10), Block Six (6), in Bonnie Brae
<br /> Addition to the City of Grand Island, Hall County, Nebraska.
<br />
<br />
<br />
<br /> b. The above mentioned trust deed was given as security for Loan, described in such
<br />
<br /> trust deed, in the original amount of Ninety Five Thousand Seven Hundred Fifty and 00/100-
<br /> --($95,750.00) Dollars, executed on October 9, 2009, by trustor in favor of beneficiary.
<br />
<br />
<br /> c. Trustor desires to obtain a loan in the amount of Ten Thousand One Hundred Sixty-
<br /> Six and 50/100--- ($10,166.50) Dollars, from Equitable Bank , 113-115 N. Locust St., City of
<br />
<br /> Grand Island, County of Hall, State of Nebraska, herein referred to as lender, but lender requires
<br />
<br /> that such loan be secured by a trust deed that will be prior to the trust deed in favor of
<br /> beneficiary.
<br />
<br /> d. Beneficiary is willing to subordinate the lien of the trust deed in their favor insofar as
<br />
<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 />
<br /> the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and
<br />
<br /> agree as follows:
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