02/10/2004 Resolutions 2004-27
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RES 0 L UTI 0 N 2004-27
WHEREAS, the City of Grand Island, is the lender and secured party of a Real Estate
Lien dated March 18,2002 and recorded on March 18,2002 as Instrument No. 200203049 secured
by property located at 1221 Warren Lane and owned by Matthew A. Treffer and Kamra K. Treffer,
husband and wife, said property being described as follows:
Lot Four (4), Houghkirk Subdivision in the City of Grand Island, Hall County,
Nebraska.
WHEREAS, Matthew A. Treffer and Kamra K. Treffer, husband and wife, wish to
execute a Deed of Trust and Note in the amount of $62,900 with Full Spectrum Lending to be
secured by the above-described real estate; and
WHEREAS, the new lender, Full Spectrum Lending, Beneficiary, wishes to extend
the new loan secured by a Deed of Trust conditioned upon the City subordinating its Real Estate
Liens to their lien priority; and
WHEREAS, the value of the above-described real estate is sufficient to adequately
secure both loans.
WHEREAS, the requested subordination of the City's lien priority is in the best
interests of all parties.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF
THE CITY OF GRAND ISLAND, NEBRASKA, that the Mayor is hereby authorized and directed to
execute an agreement subordinating the lien priority of the above described Real Estate Liens from
Matthew K. Treffer and Kamra K. Treffer, husband and wife, to the City of Grand Island, as
beneficiary to that of the new loan and Deed of Trust of Full Spectrum Lending, Beneficiary, as more
particularly set out in the subordination agreement.
Adopted by the City Council of the City of Grand Island, Nebraska, February 10, 2004.
QJ'\~ CCDu~(h
RaNae Edwards, City Clerk
Approved as to Form J:l I? ~~ W
February 9, 2004 J:l City Attorney