201204164 - Laserfiche WebLink

Browse

�d�1.��1�� imerest of the Secured Party to the extem of the principal sum yet owing to Secured Pariy in respect to the indebtedness described in Pazagraph 2 along with interest and costs allocable thereto, however evidenced. 4. So long as any portion of the described obligation to Secured Party is outstanding and unpaid, the provisions of the Deed of Trust of other instrumem of security between the Debtor and the Secured Party are coirtrolling as to the Collateral in which Secured Party is to have a first security interest, including any time there is a conflict between it and the provisions of any lien instrument granted to the Subordinating Creditor by the Debtor. 5. This Agreemern is a conrinuin�, absolute and unconditiona.l agreement of subordina.tion without regazd to the validity or enforceability of the Promissory Notes or other instruments of indebtedness between the Debtor and the Secured Party evidencing sums due or documeirts �ranting a security interest in the Collateral, irrespective of the time or order of attachment or perfection of the security interest in the Collateral or the order of filing the Deeds of Trust or other instruments of security with respect to the Collateral. 6. This Agreement shall remain in full force and effect and is binding upon the Subordinating Creditor and upon its successors and assigns, so long as any portion of the sums secured as described in Paragraph 3 are outstanding and unpaid. 7. The Subordinating Creditor agrees that the Promissory Notes or other instruments of indebtedness of the Debtor evidencing the obligation between the Debtor and the Secured Pariy may from time to time be renewed, extended, modified, compromised, accelerated, setxled or released, without notice to or consent by the Subordinating Creditor. Barry . S dstrom, President and CEO HOME ERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND "Sub inat g itor" � Barry S dstrom, President and CEO HOME ERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND "Secured Party" STATE OF NEBRASKA ) (ss: COUNTY OF HALL ) Before me, a Notary Public qualified in said County, personally came Barry G. Sandstrom as Presidern and CEO of HOME FEDERAL SAVINGS AND LOAN ASSOCIATION, known to me to be the identical person who signed the foregoing Subordination Agreemecrt on behalf of such entity, and acknowledged to execution thereof to be his voluntary act and deed on behalf of such entity. Witness my hand and Notarial seal on this �� day of � ��= �p 1 ��AAL�V ��N P� wc�n.�.a�.�a�s Public Subhftohf 5/11