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<br /> . 17604—The Augustine Co., County BuppHea, Grand Island, Nebr. . . �
<br /> SUHORDIN�TION AGREE�II�NT�
<br /> THIS AGREF�iEAt2', M�zde and entered into this 4th day oP January, 1940, by and between 3EARS,
<br /> ROEBUCK ArdD CO. , a New York corporation authorized to do business in Nebraska, Party of the
<br /> Fir�t Part, and hereinafter rePerred to as the ��Tenant" , and GRACE B.PAINE, of Grand Island,
<br /> Hall County, Atebraska, Party of the Second Part, hereinafter referred to as nLandlord, ��
<br /> l� I T N E S S � T H:
<br /> t�IHEREAS, Gi3ACE B.PAINE, is the owner of the following described reaI. estate, to-wit:
<br /> The westerly two-thirde oP Lot Three (3) in Blvck Sixty-four ( 6�-) ir� the �riginal To�vn, now
<br /> City, of Grand Island, H�.11 County, Nebraska, situated at 3�5-317 West Third Street, in
<br /> Grand I�l€�.nd,Nebraska,
<br /> �vhich said prPmises are nov�� occupied by Tenant under a �vritten Iease dated July 14, 1939�
<br /> expiring July 15, 1944, and recor•ded in Book , at Page �, of the Deed Recorder 's
<br /> records oY Hall County, �ebraska.
<br /> V�'HEREAS, Landlord contemplates making a loan from The Equitable Life Assuranc� SocSety of
<br /> the United States and execute and deliver to said The Equitable 3�ife Assurance Society of
<br /> the United States a mortgage eavering said pr�;miReG, and that said Society requirea that
<br /> said mortg�.ge be a fir�t lien upon said premisE�s and th�t the lPase under which Tenant
<br /> occupies said premises sh�.11 be sub�PCt to and ,�unior to said mortgage,
<br /> NOW, TNE'r?EFORE, it is agreed by and between the parties hereto that in the event the said
<br /> The Equitable Lif e Assura.nce Soci�ty makes said loan to the �,andlord and the latter executea
<br /> and del.ivers to said Society a mortga.ge on eaid premises, that said mortgage, when executed,
<br /> delivereci, and recorded, shalI. cons'Gitute a Iien superior to said lease, notwithstanding
<br /> the fact th�t said lease is recorded prior to said mortgage, and that this agreement is
<br /> made �.nd entered into for the benePit oP The Equit�,ble Life Assurance Society of the United
<br /> St�tes,
<br /> Tenant understands and expressly a.�rees that its lease, under which it occupies said premises,
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<br /> and its rights tihereunder, �hall be ,junior to and sub�ect to the mortgage of the said The
<br /> ' Equitable Life Assurance Society. In all other respoata said Iease shall remain in �ull
<br /> force and et'i'ect.
<br /> Thi� agreement is entered into by Sears, Roebuck and Co. upon the express understanding
<br /> that ita peaceable and quiet pos�esaion of the above described premises under said lease
<br /> will not be disturb�d by said The Equitable Life Aasurance 3ociety of the United States
<br /> or any subsequent holder or ovmer of any mortgage to be given to said The Equitable Life
<br /> Assur�.nce society of the Un��e� States, or by any receiver or purchaser of the premises in
<br /> � the event oP foreclosure of said mortgage on account of caid mortgage or by reason of any-
<br /> ` thing done or eaus�d to be donP her�under so I.ong as said Sears, Roebuck and Co. is not in
<br /> clePault in the performance of the covenants and agreementa on its part contained in said
<br /> lea�e.
<br /> IN t�ITN�;55 WF�:REUF, the parties hereto have hereunto set their hands and seals on the d.a.y
<br /> and yPar Pirst above written,
<br /> SEARS,ROEBUCK AND CO3
<br /> AT�'�ST,� (CORP) B�4�.B__._H_a_ttersl_eY� .
<br /> ChRS.E.Humm (SEAL) ----�ice PrPSidP;ri�-�
<br /> Asaistant Secretary
<br /> Grace B.Paine _(SEAL)
<br /> STATE OF ILLIAtUIB ) On this 27th day of December, �939, before me, the undersigned,
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<br /> COUNTY OF COOK ) • a Notary Public in and for said county, pera�nally came G.B.Hat-
<br /> tersley, Vi�e President of SEARS, RUEBUCK AND CO. , a corporation, to me knov�n to be the
<br />' Vice President and the identical person whose name is affixed to the fore�oing instrument,
<br /> and acknov�ledged the exPCUtion thereof to be his valuntary act and deed as such ofPicer
<br /> and the voluntary act and deed of the said. cor-�oration, and that the corporate seal of the .
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