201202008 - Laserfiche WebLink

Browse

201202008 interest of the Secured Party to the extent of the principal sum yet owing to Secured Party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocable thereto, however evidenced. 4. So long as any portion of the described obligation to Secured Party is outsta.nding and unpaid, the provisions of the Deed of Trust of other instrument of security between the Debtor and the Secured Party are controlling as to the Collateral in which Secured Pariy is to have a first security interest, including any time there is a conflict between it and the provisions of any lien instrument granted to the Subordinating Creditor by the Debtor. 5. This Agreement is a continuing, absolute and unconditional agreement of subordination without regard to the validity or enforceability of the Promissory Notes or other instruments of indebtedness between the Debtor and the Secured Party evidencing sums due or documents granting a security interest in the Collateral, irrespective of the time or order of atta.chment or perfection of the security interest in the Collateral or the order of filing the Deeds of Trust or other instruments of security with respect to the Collateral. 6. This Agreement shall remain in full force and effect and is binding upon the Subordinating Creditor and upon its successors and assigns, so long as any portion of the sums secured as described in Paragraph 3 aze outstanding and unpaid. 7. The Subordinating Creditor agrees that the Promissory Notes or other instruments of indebtedness of the Debtor evidencing the obligation between the Debtor and the Secured Party may from time to time be renewed, extended, modified, compromised, accelerated, settled or released, without notice to or consent by the Subordinating Creditor. _ 11 r. Barry HOME F] ASS( HOME AS STATE OF NEBRASKA COUNTY OF HALL ) (ss: ) �nd�trom, Piesident and CEO tAL SAVINGS AND LOAN .TION OF GRAoND ISLAND ZAL, SAVINGS AND LOAN .TION OF GRAND ISLAND "Secured Parly" Before me, a Notary Public qualified in said County, personally came Barry G. Sandstrom as President and CEO of HOME FEDERAL SAVIl�TGS AND LOAN ASSOCIATION, known to me to be the identical person who signed the foregoing Subordination Agreement on behalf of such entity, and acknowledged to execution thereof to be his voluntary act and deed on behalf of such entity. Witness my hand and Notarial seal on tlus 28 day of February, 2012. �NOTpRY.S� �Nel�asM� NpNCY 8 KNAPP�� 1�lC�.E�P� Notary Pu 'c Subhftohf 5/11