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� � � N � 0 � N �� - s -�P � , _ = � � C ,� � � � � � � rv C� 1 ----► � s �� � � r_ r C' � �1� _ :Z o �. N a� ��``- � � G� � � �' � --� � � � � � �� �, �.:. �� � � � RETURN TO: Hame Fedeial Savin@� P Q Box 1009 Grand Island. N� 68802 SUBORDINATION AGREEMENT � �� l�� FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND I5LAND, hereinafter referred to as "Subordinating Creciito�" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Part�'. WTfNESSETH: n � � � c n z --� � rn � � o - *1 � Z = m � � r �o r � � �� � � N ' �'�_ o ° � �� C7 � � � � THIS AGREF.MENT made and executed this � day of June, 2012 by and hetween HOME WF�EREAS, Timothy S Danielson and Pamela S Danielson, (whether one or more), hereina.fter referred to as "Debtrn", has granted to the Suhordinating Creditor a Mort�age or De�i of Trust dated November 28, 2008, and filed of record in the office of the Hall County Register of Deeds, on the 17th day of December, 2008 as Document No. 200810208 in respect to that real estate described as: Lot Ten (10), Block Three (3), Pleasant View Addition to the City of Grand Island, Hall Coumy, Nebraska. WI�REAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certa.in funds are to be advancecl to the Debtor conditional upon the Debtor providing the 5ecured Party with a first lien in respect to the above described real estate, hereinafter referred to as the "Collateral"; and Wi�EREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the Collateral by reason of Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever and wherever fil� in order to assure the Secured Pariy of a first lien position in and to the Collateral; NOW, THEREFORE, it is a�reed: 1. The Subordinating Creditor hereby consents to a subordination of its priority gosition to the Secured Party and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all times be secondary to the extent herein providexi and subject to the liea of the Seciued Party in respect to the Collateral. 2. The Subordinating Creditor hereby consents to the Debtor granrin� Secured Party a first lien in all the Colla.teral as described above to secure indebtedness to be advanced to Debtor by Secured Farty, in the original principal amount of One Hundred Forly One Tbousand Four Hundred and 00/100ths Dollazs ($141,400.00), recorded in the office of the Hall County Register of Deeds on the J 1.I-a'�' day of June, 2012, as Document No. 2e ��-c�4'I � � . 3. So long as an obligation is outstanding from the Debtor to the Secured Pasty for indebtedness evidenced by Promissory Notes or other instrumerns of indebtedness to the e�rtent herein provided in Paragraph 2, the Secured Party's interest in the Collateral shall have priority to over the lien of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that Collateral is, in all respects, subject and subordinate to the security interest of the Secured Party to the extent of the principal sum yet owing to Secured Party in respect to the indebtedness described in Para�raph 2 along with interest and costs allocable thereto, however evidenced. � � � � � � �