|
-
<br />N
<br />e
<br />�
<br />N
<br />0
<br />N
<br />0
<br />N
<br />�
<br />�
<br />�
<br />�
<br />�
<br />�
<br />�- - �.�.,:_ a.bF.�..._---�
<br />� t --�� de . ,' '°-',�
<br />., ,,t d ,. . ,. q
<br />� ` !�; '
<br />= om�a.a.,..�, _,:,:�m_Y,.... _..__..� ,
<br />�
<br />�
<br />� � �
<br />� � .<
<br />��
<br />�a
<br />� �
<br />�
<br />�
<br />�
<br />�
<br />r �.,
<br />r_� C) fn
<br />v @ --1
<br />C T>
<br />r S — �' p
<br />c �`� � -� o E—�
<br />° ' � o �
<br />� � '� � f V
<br />c> � m fJ
<br />D �
<br />rn 3 � � N
<br />� r n
<br />v' O
<br />� � GJ 7�
<br />�� D
<br />� v � �
<br />r�*'� F-�-�►
<br />m � f!> �
<br />� �
<br />�
<br />REI'URN TO•
<br />F '' n�� Home Federal Savings & Loan
<br />� P O Box 1009
<br />� F�'� Grand Island. NE 68802
<br />SUBORDINATION AGREEMENT �'
<br />.� �; �
<br />,,� THIS AGREEMENT made and executed this �, day of March, 2012, by and between HOME /�
<br />•q FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter refened to as
<br />"Subordina,ting Creditor" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION
<br />OF GRAND ISLAND, hereinafter referred to as "Secured Part}�'.
<br />WTTNESSETH:
<br />WHEREAS, Nathan A Clemans and Jamie L Clemans, (whether one or more), hereinafter refened to as
<br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated December 9, 2009, and filed
<br />of record in the office of the Hall County Register of Deeds, on the 21st day of December, 2012, as Document No.
<br />200909967 in respect to that real estate described as:
<br />Lot Seventeen (17), Hoffman Second Subdivision, an Addition to the Village of Doniphan, Hall County,
<br />Nebraska.
<br />WI-�EREAS, 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 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 assure the Secured Party of a first lien position in and to the Collateral;
<br />NOW, TI�REFORE, 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 One Hundred Seventy Four Thousand Four Hundred and 00/100ths Dollazs ($174,400.00),
<br />recorded in the office of the Ha11 County Register of Deeds on the ,�."d day of Mazch, 2012, as Document No.
<br />ao�aa��ga .
<br />3. 50 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 />PaRy'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 />
|