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�� <br />� <br />� <br />�� <br />�� <br />�� <br />- <br />�� <br />�� <br />N <br />e <br />� <br />N <br />0 <br />Cn <br />� <br />N <br />N <br />� <br />� <br />� � � <br />� � <br />� <br />�-... <br />a� � �- ; c� cn <br />� � a � '�' c v N <br />?�' �_ Z — � <br />e� r '�. +� —�m O <br />r s t' ...� <br />�.,, �_�._, .. o � <br />o ,,'• o � <br />� im�� CD T ' Z i`o3 <br />� �� � �� p � <br />` -��- � r" y�' CIl <br />�i <br />� � � � � <br />c� � �,y 7� � <br />' � N <br />-, �` � � <br />�, . <br />i-, �' � c�� [U ;�. <br />n� � � <br />�, <br />RETURN TO: <br />Home Fedeial5avings & Lan <br />P O Box 1009 <br />Grend Islaud NE 68802 <br />SUBORDINATION AGREEMENT <br />THIS AGREEMENT made and executed tkus� '��'`'... day of 2012 by and between <br />HOME FEDERAL SAVINGS AND LOAN ASSOCIA'TIQN OF GRAND ISL , hereinafter referred to as <br />"Subordinating Credito�" (whether one or more), and HOME FEDERAL SA G AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Party". <br />WITNESSETH: <br />VVHEREAS, Shannon M Ready and Lori J Ready, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated August 27, 2010, and filed <br />of record in the office of the Ha11 County Register of Deeds, on the 13th day of September, 2010 as Document No. <br />201006541 in respect to that real estate described as: <br />Lot Thirty-Five (35}, R& B Subdivision, Hall County, Nebraska. <br />WI�REAS, the Secured Party has agreed to erner irno 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 abave described real estate, hereinafter referred to as the "Collateral"; and <br />WI-�1tEAS, the Subordinating Cr�itor is willing to subordinate any lien it may have in respect ta the <br />Collateral by reason of Subordinating Creditor's Mo�tgage or Deed of Trust of record to perfeet 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 agreed: <br />1. The Subordinating Creditor hereby conserrts 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 exteiat herein provided and subject to the lien of the Secured Party in respect to the <br />Collateral. <br />2. The Subordinating Creditor hereby consents to the Debtor �rarning Secured Party a first lien in a11 the <br />Collateral as desaribed ahove to secure indebtedness to be advanced to Debtor by 5ecured Party, in the original <br />principal amouirt of One Hundred Seventeen Thousand One Hundred and 00/100ths Dollars ($117,100.00), recorded <br />in the office of the Hall County Register of Deeds on the �'` d day of 2012 as <br />Document No. �,c� � �. �� �3 . <br />3. So long as an obligation is outstanding from the Debtor to the Secured Party r debteciness evidenced <br />by Promissory Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured <br />Party's imerest in the Collateral sha11 have priority to over the lien of the Subordinating Creditor in that Collateral, <br />and the Subordinating Creditor's i�erest in that Collateral is, in all respects, subje�t and suhordinate to the security <br />interest 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 iuterest and costs allocable thereto, however evidenced. <br />�' <br />�� �� <br />