201108225 - Laserfiche WebLink

Browse

m � � N p� � � mm o �y m 1 � n�� Zm N m o �o� , Z �O 0 0 w 0�� O O„ � � N ZD T G TZ O cn � G��0 O 2 W pp Z � D N (/� � mm m f� �D N .z�] � m�o � cn cr � � �0�� 0 0 0 ._.._. m w � �� N (/) z N O Return Address: Equitable Bank PO Boa 160 Grand island NE 68802-41�0 �GREE1�iENT SUBORDIIVATI�iG EXISTING T12UST DEED TO NEW TRUST DEEID Agreement made the 27TH day of OCTOBBR.2011 between JOHN STADE Al\TD KATHERINE STADE.HUSBAND AND WIFE,of 911 E SOUTH ST,GRAND ISLAl�,�D, HALL COUNTY, State of Nebraska,herein referred to as trustar,Equitable Banlc,of 113-115 N. Locust St.,Grand Island,Hall County,Nebraska,herein referred to as beneficiary. T11e parties recite and declare that: a. Trustar executed a trust deed on December 2,2010,in favor of beneficiary,which was recorded on Deceinber 6,2010 in thc office of the Register of Deeds,of Hall County,State of Nebraska,as Document No,201009054 and Modification Agreement dated 27t1i day of October, 2011 anc�recorded on Nov. 1, 2011 as Document No. 201108206 covering the following described property(as defined in Neb.Rev. State.76-2�1)in Hall County,Nebraska. LOT SEVEN(7)IN PLEASANT VIEW THIRTEENTH SUBDIVISION,IIV THE CITY OF GRAND ISLAI�-D,HA..LL COUNTY,NEBRASKA. b. The above mentioned trust deed was given as security for Loan,descnbed in such tirust deeci,in the original amount of Twenty Thousand and NO/100---($20,0�0.00)Dollars,executed on December 2,2010 and Modification Agreement executed on October 27,2011 lo�vering credit limit to Seveliteen Thousand Fivc Hundred and T�TO/100(517,500.00),by trustor in favor of beneficiary. c: Trustor desires to obtain a loan in the amount of One Hundred Twenry Thousand Nine Hundred and No/100---($120,90�.00)Dollars,frozn EQUITABT,E BA1VK, 113-115 N.Loaust St.,City of Grand Islanc�,County of Hall;State of Nebraska,herein reFerred to as lender,but lender requires that sucl�loan be secured by a tnist deed that will be prior to the trust deed in faeor of beneficiary. d. Beneficiary is wffling to subordinate the lien of the trust deeci in their favor insofar as it encumbers the above-described preinises,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�romises of tlle parties hereto,trustor and beneficiary covenant and agree as follows: