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� <br />��� <br />- <br />N �� <br />0 �� <br />�� <br />N �� <br />A �� <br />� � <br />� ��' <br />� <br />� � <br />�� <br />�� <br />� <br />�� <br />�-- . -,_��.�,�...<.� '�� <br />� � '�,. � �d�� i b y = 3 <br />�: F,. �� , :, • � <br />� <br />� <br />� � <br />�� <br />O <br />G <br />S <br />D <br />r <br />� <br />n - <br />0 <br />� �.. <br />rn <br />� <br />�n <br />---� <br />rn <br />� <br />v <br />-n <br />� �. <br />m <br />rn <br />O <br />N <br />�v <br />r.� <br />►--a <br />r'V <br />�r� <br />rn <br />� <br />f--+ <br />O <br />� <br />� <br />►--� <br />N <br />W <br />C.I7 <br />C'9 CJ) <br />� � <br />c m <br />z rn <br />� <br />-< p <br />o '� <br />- *� z <br />Y m <br />D � <br />r � <br />r n <br />c/� <br />� <br />D <br />� � <br />U'� <br />� <br />RETURN TO: <br />Home Federal Savings & Loan �O <br />P O Box 1009 <br />Gtand Island. NE 68802 �o� <br />SUBORDINATION AGREEMENT <br />THIS AGREEMENT made and executed this 30'� 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 SAVING5 AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Party". <br />WITNESSETH: <br />WHEREAS, Robert B Falldorf and Irene S Falldorf, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated Mach 16, 2009, and filed of <br />record in the office of the Hall Couaty Register of Deeds, on the 25th day of March, 2009, as Document No. <br />200902140 in respect to that real estate described as: <br />Lot Three (3), in Rainbow Lake Subdivision, Hall County, Nebraska. <br />WI�REAS, the Secured Pazty 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 asstue 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 />Pariy 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 Two Hundred Fourteen Thousand Seven Hundred Seventy Five and 00/100ths Dollars <br />($214,775.00), recorded in the office of the Ha11 County Register of Deeds on the _�v� day of January, 2012, as <br />Document No. �c� � a �o "�Co\ <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 />N <br />O <br />i--a <br />Pv <br />O <br />F-.+ <br />O <br />� <br />!�-� <br />8 � <br />