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i <br />r <br />�� <br />- <br />N ��. <br />0 � <br />N <br />0 �� <br />� �� <br />� i� <br />W = <br />:.�.� <br />� <br />�s <br />' r� <br />� <br />°� <br />�� <br />�< <br />�• i <br />�� <br />� <br />�ZE TO: <br />Home Federal Saviug�.& I.oan <br />P O Box 1009 <br />Grand Island. NE 68$02 <br />rv <br />�� <br />� � t � � � <br />� r � <br />r � <br />� � � � <br />� � ° � rv <br />��� �' � -J <br />m t > <br />� � �` <br />� � <br />; � <br />° � x� <br />\ � G.J <br />� � .� � <br />O <br />N <br />SUBORDINATION AGREEMENT <br />c� cn <br />o � <br />C D <br />� m <br />--I <br />-< o <br />o � <br />� Z <br />_ �T► <br />D � <br />r � <br />r n <br />� <br />x <br />D <br />N <br />N <br />I`�.?� <br />O <br />F--* <br />('V <br />C� <br />F-� <br />t1't <br />�"'L <br />� <br />THIS AGREEMENT made and executed this � day of February, 2012 hy and between HOME <br />FEDERAL SAVJNGS 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 GR.AND ISLANA, hereinafter referred to as "Secured Part�'. <br />WITNESSETH: <br />WHEREAS, Matthew J States and Evelyn D Staies, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated June 8, 2010 and filed of <br />record in the office of the Hall County Register of Deeds, on the 13th day of August, 2010, as Document No. <br />201005698 in respect to that real estate described as: <br />See Attached E�ibit "A" <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 canditional upon the Debtor providitt� the Secured Party with a first lien in <br />respect to the above described real estate, hereinafter referred to as the "Collateral"; and <br />WI-iEREA5, the Subordinating Creditor is willing to suhordinate 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 Party of a first lien position in and to the Collateral; <br />NOW, TI�REFORE, it is agreed: <br />1. The Subordinatittg Creditor hereby conse�s to a�bordination of its priority position to the Secured <br />Party and agre,es that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at a11 <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. T7ne Subardinating Creditor hereby conseMs to the Debtor granting Secured Party a first lien in a11 the <br />Callaxeral as described above to s$cure indebtedness to be advanced to Debtor by Secured Party, in the original <br />principal amaunt of One Hundred Fifty Seven Thousand & 00(100ths Dollars ($157,040.00), ra:orded in the office <br />of the Ha11 Counly Register of Deeds on the I^( �++ da.y of February, 2012 as Document No. <br />ao� a�aSV. <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 instrumerrts of indebtedness to the exterrt herein provided in Para�c'aph 2, the Secured <br />Party's interest in the Collateral shall have priority to over the lien of the Subordinating Creditor in that Collaxeral, <br />and the Subordir►ating Creditor's interest in that Collateral is, in all resgects, subject and subordinate to the security <br />� <br />�� <br />� <br />� <br />c� <br />� <br />r )� <br />�' � �f <br />��� � <br />