Laserfiche WebLink
� <br />� <br />�� <br />� <br />� <br />�� <br />� <br />- <br />- <br />� <br />� <br />N <br />0 <br />� <br />N <br />0 <br />N <br />0 <br />e <br />� <br />� ` a .,,� � � � � '�'r ��'� <br />� , x '.' � , � <br />f� c�.d �.. � <br />..�� ..ti .._,��..�_ - _ '; p <br />�Ef(JRN TO: <br />Home Federal Savings & Loan <br />P O Box 1009 <br />Gtand Island NE 68802 <br />rv <br />c� <br />�--+ <br />._ �v <br />r 3 <br />r �� � <br />� � <br />o � <br />� p� <br />rn <br />� <br />c� � <br />m � <br />� <br />� � <br />� �J <br />C7 � <br />n7 . L <br />fi1 � <br />O <br />N <br />n � <br />Z '�i <br />� rn <br />� O <br />o 'n <br />� � <br />= m <br />D � <br />r � <br />r a <br />� <br />� <br />D <br />L/'� <br />� <br />�. N <br />O <br />F�—� <br />N <br />O <br />N <br />0 <br />0 <br />� <br />� � <br />��� <br />�.a <br />0 <br />SUBORDINATION AGREEMENT <br />M arc.E► <br />THIS AGREEMENT made and executed this I s � day of �, 2012, by and between HOME ��, �� <br />FEDERAL SAVIl�TGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as <br />"Subordinating Creditor" (whether one or more), and HOME FEDERAL SAVIl�TGS AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Party". <br />WITNESSETH: <br />WHEREAS, Steven Hameloth and Constance D Hameloth, (whether one or more), hereinafter referred to <br />as "Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated Apri116, 2008, and filed <br />of record in the office of the Hall County Register of Deeds, on the 24th day of April, 2008, as Document No. <br />200803458, and Deed of Trust dated February 24, 2011 and filed Mazch 9, 2011 in the office of the Ha11 County <br />Register of Deeds as Document No. 201101870, in respect to that real estate described as: <br />Villa No. 4 in Fairways Villas Condominium Property Regime I, Grand Island, Hall Couaty, Nebraska <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 conditional upon the Debtor providing the Secured Party with a first lien in <br />respect to the above described real estate, hereinafter refened 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 assure the Secured Party of a first lien position in and to the Collateral; <br />NOW, TI�REFbRE, it is agreed: <br />1. The Subordinating Creditor hereby consents to a subordination of its priority position to the Secured <br />Party 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 Eighty Two Thousand Two Hundred Eighty Five and 00/100ths Dollars ($82,285.00), recorded <br />in the office of the Hall County Register of Deeds on the l� day of �� , 2012, as Document No. <br />ao�ao���� . <br />3. So long as an obligation is outstanding from the Debtor to the Secured Pany 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 />