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� � � �� N � 0 � � 0 -p � �� -1� � � �� �� �� � � � � � 1� C � .. �� � � � . � z� D r � r ,� � y`+ � .`�. _ r'' ' ° — :_� � �� .' r� : a} �:.� �' i� � �� _ (l'� �+ r� c_� �- v� r,� �=_J ,._._.. �v �:7 c_- G7 � �7 � C.J W c7 �, � C � Z —i � rn � o o � � L � � D c� r � r n U� � n � (n N 0 F-�+ IV � � � CD ..� �tETURN TO: Home Fedeial Savin@�s & Loan �. P O Box lOQ9 Grand Islarnd, NE 68802 � � SUBORDINATION AGREAYIENT / D � THIS AGREEMENT made and executed tlris �Q�' day of July, 2011 by and between HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Credito�" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Party". WITNESSETH: W.EIEREAS, Steven T Shelton aad Sheryl A Sheltoq (whether one or more), hereinafter referr� to as "Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated September 3, 2008 AND March 9, 2011 and filed of record in the office of the Hall County Register of Deeds, on September 29, 2008 AND March 23, 2011 as Docume� No. 200808254 AND 201102292 in respect to that real estate described as: Lot Fifteen (15), in Sass Second Subdivisioq in the City of Grand Island, Nebraska. VVI-�REAS, the Secure�ci Party has agreed to emer into a loan transaction with the Debtor, whereby certain funds aze to be advanced to the Debtor conditional upon the Debtor providing the Secur� Pa,rty with a first lien in respect to the above described reat estate, hereinafter referred to as the "Collateral"; and WI�REAS, the Subordinating Creditor is willin� to subordinaxe 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 filed in order to assure the Secured Party of a first lien position in and to the Collateral; NOW, THERFFORE, it iS agreed: 1. The Subordinating Creditor hereby consents to a subordina.tion of its priority position to the Secured Party and agrees thax 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 provided and subj ect to the lien of the Secured Party in respect to the Collaxeral. 2. The Subordinating Creditor hereby consents to the Debtor �ranting Secured Party a first lien in all the Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original principal amourn of Sixty S'vc Thousand Eight Hundred and 00/1QOths Dolla.rs ($66,800.00), recorded in the office of the Hall County Register of Deeds on the _�(� day of ��. I v , 2012 as Docume�t No. �� . 3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness evidenced by Promissory Notes or other instrume�s of indebtedness to the elctern herein provided in Paragraph 2, the Secured Party's urterest 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 iuterest of the Secured Party to the extent of the principal sum yet owing to Secured Pariy in respect to the indebtedness described in Paragraph 2 along with interest and costs allocable thereto, however evidenced.