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N <br />e <br />e <br />C-n <br />M <br />C <br />M'91 <br />a = v <br />Z <br />RETURN TO: <br />Home Federal Savings & Loan <br />P O Box 1009 <br />Grand Island. NE 68802 <br />SUBORDINATION AGREEMENT <br />THIS AGREEMENT made and executed this I qJA day of December, 2011, by and between HOME <br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as <br />"Subordinating Creditor" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Party". <br />WITNESSETH: <br />WHEREAS, Terry Babcock and Tracy Babcock, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated April 12, 2006, and filed of <br />record in the office of the Hall County Register of Deeds, on the 21 st day of April, 2006 as Document No. <br />200603554 in respect to that real estate described as: <br />Portion of Kuester Lake, and being on a part of the East Half of the Southwest Quarter (El/2SW 1/4), in Section <br />Thirteen (13), Township Eleven (11), North, Range Nine (9) West of the 6th P.M., Hall County, Nebraska <br />Lot Twenty (20), having a lake foot frontage on One Hundred (100') feet, situated on the East side of East <br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain <br />funds are to be advanced to the Debtor conditional upon the Debtor providing the Secured Party with a first lien in <br />respect to the above described real estate, hereinafter referred to as the "Collateral"; and <br />WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the <br />Collateral by reason of Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever <br />and wherever filed in order to assure the Secured Party of a first lien position in and to the Collateral; <br />NOW, THEREFORE, it is agreed: <br />1. The Subordinating Creditor hereby consents to a subordination of its priority position to the Secured <br />Party and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all <br />times be secondary to the extent herein provided and subject to the lien of the Secured Party in respect to the <br />Collateral. <br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in all the <br />Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original <br />principal amount of Seventy Thousand Ten Dollars ($70,010.00) recorded in the ffice of the Hall County Register <br />of Deeds on the day of December, 2011 as Document No. 0X®1 1 <br />3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness evidenced <br />by Promissory Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured <br />Party's interest in the Collateral shall have priority to over the lien of the Subordinating Creditor in that Collateral, <br />and the Subordinating Creditor's interest in that Collateral is, in all respects, subject and subordinate to the security <br />rv <br />(D -i <br />r <br />~ <br />n <br />c D <br />r*t <br />l <br />° <br />fV <br />o <br />o -n <br />N <br />M <br />rn . <br />Z <br />y <br />0 <br />cn <br />r D <br />l <br />W <br />C7 <br />n <br />rri <br />, <br />CI7 <br />`i `i <br />! P <br />r'n <br />O <br /><n <br />