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<br />RETURN TO:
<br />Home Federal Savings & Loan
<br />P O Box 1009 ��
<br />Gcand Island, NE 68802 10 ,
<br />SUBORDINATION AGREEMENT �
<br />THIS AGREEMENT made and executed this 20�' day of January, 2012, 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 refened to as "Secured Party".
<br />WITNESSETH:
<br />WHEREAS, Steven N Wilson and Terri L Arp - Wilson, (whether one or more), hereinafter referred to as
<br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Tntst dated May 6, 2009, and filed of
<br />record in the office of the Hall County Register of Deeds, on the 15th da.y of May, 2009, as Document No.
<br />200903766 in respect to that real estate described as:
<br />Lot Suc (6), in Ross-Theasmeyer Subdivision, in Hall County, Nebraska
<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 Pazty of a first lien position in and to the Collateral;
<br />NOW, TI�REFORE, 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 />Z. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in all the
<br />Collatera,l as described above to secure indebtedness to be advanced to Debtor by Secured Pariy, in the original
<br />principal amount of Forty Three Thousand and 00/100ths Dollazs ($43,000.00), recorded in the office of the Hall
<br />County Register of Deeds on the �q� day of January, 2012, a.s Document No. 2,0 I� 60 51 "[
<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 />71
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