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! <br />� <br />�� <br />�� <br />N � <br />e = <br />N � <br />0 � <br />W �� <br />� �� <br />N �� <br />.p r <br />�� <br />� <br />��� <br />� <br />.. <br />, ..� <br />r� <br />�� ` Q � <br />1 1� ' � ' � � A r T C D � <br />G � `' r � ° Z � <br />e �� o '�~ � '{ o <br />t � � <br />N o -+i F-+ '. <br />�f ° <br />.. m C� -*i Z N <br />P1� _ `?� =rn <br />�C �: � �' � r � o <br />-.� <br />`_i 3 r v W <br />�l� ``; W � � <br />� v � n <br />m F--� .....� N <br />N N � � <br />RETURN TO: <br />Home Federal Savinss & � <br />P p Aox I OQ9 G <br />Graud Island NE 68802 <br />SUBORDINATION AGREEMENT �y � <br />THIS AGREEMENT made and executed this �� day of April, 2012 by and between HOME ��� <br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referrecl to as <br />"Subordinaxing Creditor" (whether one or more), and HOME FEDERAL SAVIlVGS AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Pazty". <br />WITNESSETH: <br />WHEREAS, James R Fagan and Coleen R Fagan, (whether one or more), hereinafter refeired to as <br />"Debto�", has �ranted to the Subordinating Creditor a Mortgage or Deed of Trust dated August 17, 2Wd aad filed of <br />record in the office of the Hall County Register of Deeds, on the 29th day of August, Z000 as Document No. <br />200007002 in respect to that real estate described as: <br />Lot One (1), Ross Heights Second Subdivision, in the City of Gra.nd Island, Ha11 County, Nebraska. <br />WI-�REAS, the Secured Party has agreed to enter into a loan uansaction with the Debtor, whereby certain <br />funds are to be advanc�i 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 Subordinatin� 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, THEREFORE, it is ageed: <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 hereinahove described, if any, shall at a11 <br />times be secondary to the e.xtern herein provided and subject to the lien of the Secured Party in respect to the <br />Collateral. <br />2. The Subordinatin� Creditor hereby consents to the Debtor granting Secured Party a first lien in a11 the <br />Collateral as described above ta s�ue indebtedness to be advanced to Debtor by Secured Party, in the original <br />principal amowrt of Fifly Two Thousand and 00/100ths Dollars ($52,000.00), recorded in the office of the Hall <br />County Register of De.eds on the � day of April, 2012 as Docwment No. a.o 1� o���� . <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 instruments of indebtedness to the elctent herein provided in Paragraph 2, the Secured <br />Party's interest in the Collateral sha11 have priority to over the lien of the Subordinating Creditor in that Collateral, <br />and the Subordinsting Creditor's imerest in thax Collateral is, in all respects, subject and subordinate to the security <br />urterest of the Secured Party to the extent of the principal sum yet owing to Secured Party in respect to the <br />indebtedness described in Paragraph 2 along with i�erest and costs allocable thereto, however evidenc�i. <br />