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<br /> AGREEMENT SUBORDINATING EXISTING
<br /> TRUST DEED 'I'O NEW TRUST DEED
<br />
<br />Agreement made the 30th day of August, 2010, between THOMAS E TOWNS AND TAMI S ~1
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<br /> TOWNS, HUSBAND AND WIFE, of 1609 MEADOW 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 on November 10, 2008, in favor of beneficiary, which
<br />was recorded on November 19, 2008, in the office of the Register of Deeds, of Hall County,
<br />State of Nebraska, as Document No. 200$09558 covering the following described property (as
<br />defined in Neb. Rev. State. 76-201) in Hall County, Nebraska.
<br />LOT EIGHT ($), BLOCK THREE (3), SUMMERFIELD ESTATES FOURTH SUBDIVISION,
<br />IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />b. The above mentioned trust deed was given as security far Loan, described in such.
<br />trust deed, in the ariginal amount of Forty Five Thousand Six Hundred Thirty and 74/100---
<br />($45,630.74) Dollars, executed on November 10, 200$, by trustor in favor of beneficiary.
<br />c. Trustor desires to obtain a loan in the amount of Two Hundred Thirty Seven.
<br />Thousand and No/100--- ($237,000.00) Dollars, fro~n EQUITABLE BANK , 113-115 N. Locust
<br />St., City of Grand Island, County of Hall, State of Nebraska, herein referred to as lender, but
<br />lender requires that such loan be secured. by a trust deed that will be prior to the trust deed in
<br />favor of beneficiary.
<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 favox 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 benef ciary covenant and
<br />agree as follows:
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