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<br />ItEfURN TO:
<br />Home Federal Savings & Loan
<br />P O Box 1009
<br />Grand Island, NE 68802
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<br />SUBORDINATION AGREEMENT
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<br />THIS AGREEMENT made and executed this � day of March, 2012, by and between HOME ��"
<br />FEDERAL SAVINGS 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 GRAND ISLAND, hereinafter referred to as "Secured Party".
<br />WITNESSETH:
<br />WHEREAS, James W Waters and Sandra K Waters, (whether one or more), hereinafter referred to as
<br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated February 24, 2012, and filed
<br />of record in the office of the Hall County Register of Deeds, on the 8th day of March, 2012, as Document No.
<br />201201803 in respect to that real estate described as:
<br />The North ifty (N50) feet of Lot Five (5), and South Thirty (530) feet of Lot Six (6), Block 5ix (6), Bel-Air
<br />Addition to the City of Grand Island, Hall County, 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 Pariy of a first lien position in and to the Collateral;
<br />NOW, THEREFORE, 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 5ecured Parly 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 Seven Thousand Eight Hundred Eighty and 00/100ths Dollazs ($87,8880), recorded in
<br />the office of the Hall County Register of Deeds on the � day of March, 2012, as Document No.
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<br />3. So long as an obligation is outsta.nding 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 />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
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