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� <br />0 � <br />� <br />� � <br />N � <br />0 �� <br />� � <br />W - <br />� <br />� <br />� <br />� <br />� <br />� <br />� <br />9�i <br />C <br />� <br />� � � <br />�!° do <br />6 6 �� � � C� C!� ? <br />(�$ � p � o D <br />C_ Z --1 N <br />� � c= � rn 0 <br />� :1' r � Q � <br />o r p -� <br />�, %' �' c.D � z iv <br />m i:: -- <br />� 4 __: � m C7 <br />�� i � q w <br />� r � � <br />��i � r n <br />�? � <br />� �� t C.�� 7� O� <br />-�' �'�: 7-- �V <br />r, � �.�. ' <br />rn � �-• <br />r� t ._ (;7� C!� W � <br />d �y � cn � <br />xErut�t �ro: <br />Home Federal Savines & Loan <br />P O Box 1009 <br />Grand Island NE 68802 <br />SUBORDINATION AGREEMENT <br />THIS AGREEMENT made and executed this a.� day of June, 2012 by and between HOME <br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter refened to as <br />"Subordinating Credito�' (whether one or more), and HOME FEDERAI. SAVINGS AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Parl.y". <br />WTTNESSETH: <br />WHEREAS, Violet J Sheeks and ,{whether one or more), hereinafter referred to as "Debto�", has granted <br />to the Subordinating Creditor a Mortgage or Deed of Trust dated July 15, 2011, and filed of record in the office of <br />the Hall County Register of Deeds, on the 27th day of July, 2011 as Document No. 201105530 in respect to that real <br />estate described as: <br />Lot One (1), Rainbow Lake Subdivision, in Hall County, Nebraska. <br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby cettain <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 "CollateraP'; and <br />WI�REAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the <br />Collateral by reason 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, THEREFORE, 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 all <br />times be secondary to the extent 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 granting 5ecured Party a first lien in all the <br />Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Pazty, in the original <br />principal amount of One Hundred Foriy Seven Thousand Two Hundred Fifiy and 00/100ths Dollars ($147,250.00), <br />recorded in the office of the Hall County Register of Deeds on the �'N'' day of June, 2012, as Document No. <br />�.o��a5�3� . <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 inshuments of indebtedness to the extent herein provided in Paragraph 2, the Secured <br />Party's interest in the Collateral shall have priority to over the lien of the Subordinating Creditor in that Collateral, <br />and the Subordinating Creditor's interest in that Collateral is, in all respects, subject and subordinate 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 interest and costs allocable thereto, however evidenced. <br />� <br />�� <br />�� <br />