Laserfiche WebLink
� <br />� <br />_ <br />� <br />- <br />�� <br />N <br />0 <br />� <br />N <br />0 <br />-P� <br />� <br />� <br />� <br />0 <br />� <br />� <br />� <br />� <br />n � <br />9C <br />A � <br />� .f. <br />RETURN TO: <br />Home Federal Sevincts & Loan <br />_P O Box ] 009 <br />Grand Island NE 68802 <br />N <br />0 <br />� <br />� <br />� <br />s <br />� <br />�L <br />� <br />� <br />0� <br />�l� <br />"Suhordinating Creditor" (whether one or more) and HOME FIDERAL SAVINGS AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Party". <br />WITNESSETH: <br />r�. <br />c_ _ <br />�(� _ -� <br />D -- <br />� � r' y � <br />� � o �, r . -c <br />�� � � <br />� �_., w <br />6i ) � <br />cn -� <br />� - i � <br />� <br />� �� (� N <br />� <br />,� � <br />�-� C f 1 <br />r�s � O <br />0 <br />� <br />C7 C/) <br />m -� <br />c a <br />Z � <br />� m <br />� o <br />o '*'t <br />T ' z <br />s rn <br />D � <br />r �o <br />r n <br />� <br />� <br />D <br />cn <br />cn <br />SUBORDINATION AGREEMENT <br />THIS AGREEMENT made and executed this � day of May, 2012 by and between HOME <br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as <br />V�REAS, Dewayne D Dymek and Rhonda L Dymek, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or De,ed of Trust dated Apri122, 2011, and filed of <br />record in the office of the Hall County Register of Deeds, on the 3rd day of May, 2011, as Document No. <br />201103345 in respect to that real estate described as: <br />Lots Twenty (20) and Twenty One (21), Argo Second Subdivision, Village of Alda, Hall County, <br />Nebraska. <br />VVHEREAS, the Secured Party has agreed to erner 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 rea.son 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 a11 <br />times be secondary to the extent herein provided aad 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 a11 the <br />Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original <br />principal amou�t of One Hundred Twenty Four Thousand Five Hundred and 00/100ths Dollars ($124,500.00), <br />recorded in the office of the Hall County Register of Deeds on the �� da.q of May, 2012, as Document No. <br />3.o�ao��9�-. <br />3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness evidenc� <br />by Promissory Notes or other instruments of indebtedness to the extern herein provided in Paragraph 2, the Secured <br />Party's interest in the Collateral shall have priority to over the lien of the Subordinaxing Creditor in that Collateral, <br />and the Subordinating Creditor's interest in that Collateral is, in a11 respects, subject and subordinate to the security <br />