Laserfiche WebLink
_— <br />� <br />.�� <br />� <br />� <br />- <br />B � <br />� �� <br />N � <br />0 � <br />0 <br />� �� <br />� '� <br />� <br />.� <br />�� <br />- <br />� <br />I� <br />Z. <br />� <br />� <br />� <br />� <br />RETURN TO: <br />Home Fedeial Savings & La�n <br />P O Box 1009 <br />Grand Islattd NE 6880a <br />a. <br />z: : <br />a. <br />i <br />i <br />7 <br />� " f ti/ <br />r_� <br />r--+ <br />.� rv <br />D � <br />r � <br />r � <br />� n <br />•° N <br />� � <br />rn <br />A � <br />cn -U <br />� �Cn � � <br />` o C„� <br />�. '�l <br />rn `p W <br />m W <br />0 <br />N <br />SUBORDINATION AGREEMENT <br />C7 fJ� <br />� � <br />cn <br />Z m <br />--r <br />� O <br />O T <br />� Z <br />= rn <br />a w <br />r � <br />r n <br />N <br />7C <br />� <br />�i v <br />� <br />� <br />N� <br />O <br />� <br />N <br />� <br />0 <br />� <br />0 <br />OQ <br />� <br />� <br />� <br />� <br />� <br />� �D <br />THIS AGREEMENT made and executed this � day of January, 2012 by and between HOME ��� <br />FF.DERAL SAViNGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as � <br />"Subordinating Creditor" (whettier one or more), and HOME FEDERAL SAVINGS AND LOAN A5SOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Party". <br />WITNESSETH: <br />WHEREAS, Kent R Daws and Tammy S Daws, (whether one or more), hereinafter referred to as "Debtor", <br />ha.s granted to the Subordinating Creditor a Mortgage or Deed of Trust dated Apri17, 2004 and filed of record in the <br />office of the Hall County Register of Deeds, on the 19th day of April, 2004, as Documeut No. 200403780 in respect <br />to that real estate described as: <br />Lot Three (3), in R& B Subdivisioq in the City of Grand Island, Hall County, Nebraska. <br />VVHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain <br />funds a.re to be advance.d to the Debtor conditional upon the Debtor providing the Secured Party with a first lien in <br />respect to the above described r�l estate, hereinafter referred to as the "Collateral"; and <br />WI�REAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the <br />Collateral by reason of Subordinatin� Creditor's Mortgage or Deed of Trust of record to perfect security whenever <br />and wherever filed in order to assure the Secured Pariy of a first lien position in and to the Collateral; <br />NOW, 't'r�FRFFORE, it is agreed: <br />1. The Subordinating Creditor hereby consents to a subordination of its priarity position to the Secured <br />Party and agrees that its lien in resgect to the Mortgage or Deed of Trust hereinabove described, if any, shall at a11 <br />times be secondary to the extem 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 describ� above to secure indebtedness to be advanced to Debtor by Secured Pariy, in the original <br />principal amount of One Hundred One Thousand & 00/100ths Dollars ($101,000.00), recorded in the office of the <br />Hall County Register of Deeds on the �t� day of January, 2012 as Document No. �/ o� (��� �5 y 1• <br />3. So long as an obli�ation is outstanding from the Debtor to the Secured Party for indebtedne.ss evidenced <br />by Promissory Notes or other instruments of indebtedness to the extent herein provided in Para�raph 2, the Secured <br />Party's interest in the Collateral sha11 have priority to over the lien of the Subordinating Creditor in that Collateral, <br />and the Subordinaxing Creditor's interest in that Collateral is, in a11 respects, subject and subordinate to the security <br />