201006815 - Laserfiche WebLink

Browse

~~ ~~ - • , r ~ ~....~, c~ cF~ -n e n ~-a ~ ~~ !l'~ ~ . ~ n1 ~i.. "~ ~ ~ ~ ~ ~ A (A f-. G..a t -~ ~ l.~ t:~~~ ~ T~ ~ ~ ~.J F...J .fir' ~+~yy ~ ~' a ~ CTl ~ f ~l r~ ~ ~ ~ C:z7 f'- ~7 ~ ..r.l ~ ~~ f ~ v~ y Q'~ ~~ Q ~ C.J"'I ~ AGREEMENT SUSORDINATLNG EXISTING TRUST DEED TO NEW TRUST DEED ~'~ ~ Agreement made the 14th day of September,. 2010, between DENNY JOE WATKINS AND BONEITA P WATKINS, HUSBAND AND WIFE, of 320 PONDEROSA DRIVE, GRAND ISLAND, HALL COUNTY, State of .Nebraska, herein referred to as trustor, Equitable Bank, of 113-115 N. Locust St., Grand Island, Hall County, Nebraska, herein referred to as beneficiary. The parties recite and declare that: a. Trustor executed a trust deed on August 26, 2009, in favor of beneficiary, which was recorded on September 3, 2009, in the office of the Register of Deeds, of Hall County, State of Nebraska, as Document No. 200907251 covering the following described property (as defined in Neb. Rev. State. 76-201) in Hall County, Nebraska. LOT SEVEN (7), IN BLOCK ONE (1), PONDEROSA LAKE ESTATES FOURTH SUBDIVISION AN ADDITION TO THE CITY OF GRAND 1SLAND, HALL COUNTY, NEBRASKA. b. The above mentioned trust deed was given as security for Loan, described in such trust deed, in the original amount of Eighty Thousand and 00/100---($80,000.00) Dollars, executed on August 26, 2009, by trustor in favor of beneficiary. c. Trustor desires to obtain a loan in the amount of Two Hundred Thirty Thousand and No/100--- ($230,000.00) Dollars, from EQUITABLE BANK , 113-115 N. Locust St., City of Grand Lsland, County of Hall, State of Nebraska, herein referred to as lender, but lender requires that such loan be secured by a trust deed that will be prior to the trust deed in favor of beneficiary. d. Beneficiary is willing to subordinate the lien of the trust deed in their favor insofar as it encumbers the above-described premises, to the trust deed made in favor of lender in order that trustor may obtain such loan from lender. For the reasons set forth above, and in consideration of the mutual covenants and promises of the parties hereto, trustor and beneficiary covenant and agree as follows: