Laserfiche WebLink
� <br />� <br />N � <br />� <br />� - <br />N � <br />0 - <br />� � <br />� <br />CJ1 � <br />�� <br />� <br />s <br />- <br />";�;�=� <br />r. <br />{ ,; ^r . <br />r_ <br />a:� <br />l,2ETURN TO: <br />Home Federal Savin@,s 8c Loan <br />P O Box 1009 <br />Gisnd Island. NE 68802 <br />�+ <br />� <br />� <br />� � � <br />� <br />� � mo <br />� <br />� � <br />� � <br />B'� � <br />� <br />� <br />'D <br />Cv <br />SUBORDINATION AGREEMENT <br />r ,� <br />� r. � <br />♦__a <br />a ^' <br />D � <br />r i L � L� <br />n ,--i r <br />G <br />� � __. <br />r� i ��� � <br />� _$ y� <br />„� <br />_ <br />r�t <br />_�, <br />l-J �'� <br />"�� `,p <br />(� '�l <br />Y'�l 4' <br />Cy � ` <br />C/'i <br />t� <br />� <br />� <br />W <br />n <br />O <br />C <br />Z <br />--� <br />� <br />0 <br />-�, <br />D <br />r <br />r <br />� <br />'-'� <br />D <br />--i <br />rn <br />O <br />� <br />z <br />m <br />w <br />� <br />n <br />en <br />� <br />� <br />�� `i `i <br />"1� � <br />CP <br />THIS AGREEMENT made and executed this � day of 2012 by and belw�n <br />HOME FEDIItAL SAVINGS AND LOAN ASSOCIAT'ION OF GRAND ISL hereinafter referre,ci to as <br />"Subordinating Creditor" (whether one or more), and HOME FEDERAL SA AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Part�'. <br />WITNESSETH: <br />Wf�REAS, Geor�e T Ayoub II and Jacalyn A Ayoub, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated April ?, 2008, and filed of <br />record in the o�ce of the Ha11 County Re�ister of Deeds, on the 16th day of April, 2008, as Documeat No. <br />200803162 in respect to that real estate described as: <br />Lot One (1), in Block Two (2), Parkhill Subdivision to the City of Crrand Island, Hall County, Nebraska <br />WI�REAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certa.in <br />funds are to be advanced to the Debtor conditional ugon 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 />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 wherevec fileci in order to assure the Secured Party of a first lien position in and to the Callateral; <br />NOW, TI�REFORE, it is age�: <br />i. The Subordinatin� Creditor hereby consents to a subordination of its priority position to the Secured <br />Pariy and a�rees 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 Pariy in respect to the <br />Collateral. <br />2. The Subordinating Creditor hereby consents to the Debtor grarning Secured Party a first lien in all the <br />Collateral as described above to secure indebtedness to be advanced to Debtor by Secured PaRy, in the original <br />principal amount of One Hundred Nineteen Thousand Five Hundred Seventy Five and OO/100ths Dollars <br />($119, recorded in the o�ce of the Ha11 County Register of Deeds on the �� day of <br />�.�.t 2012 as Document No. a o i av 5 3� !o <br />3. S ng as an obligation is outstanding from the Debtor to the Secured Par .ty for indebtedness evidenced <br />by P'romisso N tes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured <br />Party's interest m the Collateral shall have priority to over the lien of the Subordinating Creditor in tha.t Collateral, <br />and the Subordinating Creditor's interest in that Collateral is, in all respects, subject and subordinate to the security <br />N <br />0 <br />h--� <br />� <br />C7 <br />C.PI <br />V J <br />, V <br />� <br />� <br />�� S� <br />