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<br /> `}� after Subordinating Crediter shall be allotted a firs��t{t�t.l�mited to�e�F�dr��v+�1�ousand
<br />;� � Three Hundred EightyAne and No/l0a Dollars(�305,,3�1.QQ); � :
<br />.1- � �
<br />-; : � NOW,TI-IEREFORE.it is agreed j .
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<br /> a� � � ' 1. The Subordinating Creditor hereby cons�te.ta�a suborciination af its priority position ;�
<br /> �t , .� to the Secured Party to the extent there shall remain due fmm Dcbtor any s�um in excess of Ttuee `�� .
<br />`F� - Hundred Five Thousand Three Hundred Eighty�ne and rlul144 Dotlars(�305,381.00)and � -
<br /> :` agrees t13at its lien in excess of that amount,if any,shall at aU°times be secQndary w t�e extent f
<br /> ;�. herein provided and subje�t to the lien of the Secured Party in respcct to Ehat real estate descri6ed � .
<br /> �. as: � • .
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<br /> T= Lot Clne(1},in"Fanner Subdivision",sn Addition ta the City of Crtarcd lstand, ! ' .= � -
<br /> � Hall County,Nebraska; ' •
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<br /> ��:r � and �' � . : �
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<br /> � � � Part of the Southeast Quarter of the Southeast Quarter(SEl/4SE114)of Section �; •:�.'�:
<br /> �� Twenty-One(21),Tovmship Eleven(11)North,Rar.��Nine(9)�ilest of the 6th ` ', �
<br /> '` descn�ed as follows: Beginaing �� "�4
<br />_.9. P.M.,Hall County,Nebraska,morc parGe�rty �;;:�.'::,_,'
<br /> ��: -- at a point in the F.a�t line o f sai d Section�-�ic h is 3 4 1 Fee t Sa u�i o f t he Sou t h e a s t ' '��`r'`�`j`
<br /> � F�
<br />�x � Corner of Pteasant Home Subdivision,as the point of beginning aad continuing � '. �''`'.` �
<br /> 3,F .� <
<br />''�' ' Souttn 165.5 feei,thence West aud parallel with th�s S�division 3�7 feet;thence '
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<br /> .r:, No�t�arallel with the East line 165.5 feet,thence East 32T feet to pourt of
<br /> :; Fxce ti "1Cherefr m a certaie�tract of Y�d more particularly ::" .
<br />•��� d�cr"sb�as fallow�s.� A tract of land bei�the southerly six(6)feet of the ;
<br />-`�} .. nox&�etly three hundred foriy-seven(347y feet of the westerly three and five tenths _ ' ;;;::��.;
<br /> ���: (;.�feet of the easterly thirty-six and fire tenths(36.5�feet of the Southeast •:; �"
<br />:-i:i � � Q��ra�¢er of the Souiheast Quarter(SEI/4SE1/4)of said Secrion Twenty-One E��?, � . ;,�
<br /> � 1}-i�southerly and contiguous to Pleasam4�tome Subdivision in th.City o�'��nd �:� �;.;:;�?.
<br /> �� -,,��-� • Islaad,Nebraska.AndAlsoExce�h'n�ac�araintractoflandm�rzp�0iculariy ,;��''�rt,.;!::
<br /> $ � � : des�bed as follows: A tract of land in t9ae Southeast Quarter o*t�Souticeast j, �.��:S �'
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<br />>'-f' •' � Qa;�¢-er(SEll4SE1/a)of Section 21,Township 11 North,Range 9 West of the 6th 't •- '� �`
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<br />:-=�:;� .. . P.i�4^commencing at the Sauth�st coraer of Ple�s Home Subdivision in the `..':.
<br /> + '- City of Grand Island,Nebraska;thence rannning wes2 e.�the south line of Pleasant : � �-
<br /> ' � � � Home Subdivision for a distance of 29'F fe�i to the souihwest comes of Hlock 16 ; � �'
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<br /> � � ' in Pleasant Home Subdivision;thence rur�ning south and parallel to the east line � ��.—.
<br /> � of said Sec6on 21 a distance of 341 feet to the actual point of beginning,thence '
<br /> :�:; ' ' � � numing south and parallel ta the east line of said Section 21 a distance of 165.5 ' �
<br /> >�:; feet;thence mm�ing west and parallel to ttae south line of Pleasant Home ���.
<br /> Subdivision a distance af 30 fcet;thence running north and paralt8l to the east line '��'`
<br />.:�-�. '�`�I, of said Section 2l,a distance of 165.5 feet;thence running east an�parallel ta the ;.��,��:�' ..
<br />-��`��� ����•�� � south line of Pleasant Home Subdivision a distance of 30 feet to th�point of �� `'��;` .< �:
<br />_��;, , _ ; beguming. , .
<br />,_.,;.,, . • �gether with sU buitdings,improvements and appurtenances thereto. • r���;
<br />-.:-:�:�, � 2. So long as an obligation is outstand�ng frora the Debwr W the Secured Party for . „
<br /> ����`;` ' indebtedness evidenced by Promissory Notes or other inswments of indebtedness,ttc�Secured _ ..
<br />=-����: � � �� Party's interest in the Collateral shall have priority over ticos�sums owing to Subordinating � �•
<br /> "�`�`` � Creditor in excess of Three Hundred Five Thousand Three Hundred Eighty-One and Noll00 ' �
<br /> '�'�'+ � Dollars($305,381.00)10 the extent of the outstanding obligation owir��t�the Secwed Party b3 �«`��.`1'� �
<br /> '�� '' ' reason of�s above-mentioned Promissory Notes or other wstrumen'�s of indebtedness and the ; .`;���?r:``;,;% �
<br /> �.��1� Subordin��ng Creditor's interest,to the extent it is secured by a first ln�n in that Collateral in { �, . �:�:���� _
<br /> =�:,a • . . excess of srs.^.h sum,is,in all respeets,subject and subordi�a::to the extent of the obligation - : , „
<br /> � '�:� . � � outstanding and unpaid to the security interest of the Secured Pariy,tro�¢ver evid��:r,ed. ,�,.. :
<br />.=. ,±� 3. So long as any portion of an obligation is outstanding and ur4���3,the psovisions of �"���':°. .
<br /> `•.=`- the Mortgage or Deed of Tr�st b�tw�een the Debtor and the�ecured Pz-ty-are cor�trabling as to the i ,� . � • '
<br /> __..�� �. Collateral value in excess of�Hundred Five Thousan�TIuee Hc:^.dred Ei�:�}r-�ne and
<br /> � . No/100 Dollars($305,381.00)in which Secured Party is to have a secar,.d secunty interest and in . �
<br /> � all cases in which there is a conflict between it and the provisions of a.n-y 14tortgage or Deed of ;'
<br /> � Trust granted to the Subordinating Creditor by the Debtor. ,
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<br /> 5'J`s, � 4. This A ment is a continuing,absolute and uriconditional agreement of ;
<br /> � subordination wi out regard to the validity or enforceability of the Prom�ssory Notes or other f� � �
<br /> instnunenis of indebtedness between the Debtor and the Secured Party evidencing sums due or , . �
<br /> _ , � � ' documents granting a security interest in the Collaleral,inespective of the time or order of E �
<br /> _'_�-'>! � � attachment or perfection of the secwity interest in the Collateral or the order of filing the Deeds ;
<br /> " �� of Tn�st or Mortgages with respect to the Collatersil. �
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