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<br />RETIJRN TO:
<br />I�ome Fedeial Sa 'vu► s� & Laan �
<br />P O Box 1009
<br />Gtand Islanc� NE 68802 �(j
<br />SUBORDINATION AGREEMENT / Q . '
<br />THIS AGREEMENT made and executed this � day of July, 2012 by and between HOME FEDRRAT •
<br />SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordina.ting Creditoi"
<br />(whether one or more), aad HOME FIDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND,
<br />hereinafter referre,d to as "Sec�ued PaRy".
<br />WITNESSETH:
<br />WHEREAS, Michael J Cleary and Deborah S Cleary, (whether one or more), hereinafter referred to as
<br />"Debtor", ha,s �ranted to the Subordinating Creditor a Mortgage or Deed of Trust dated June 16, 2010, and filed of
<br />record in the office of the Hall County Register of Deeds, on the 14th day of July, 2012 as Document No.
<br />201004843 in respect to that re,al estate described as:
<br />Lot Ei�hteen (18), Bishop Heights Subdivision, in the City of Grand Island, Ha11 County, Nebraska..
<br />WHEREAS, the Secured Pariy has agreed to erner into a loan transaction with the Debtor, whereby certain
<br />funds are to be advance�i 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 "Collateral"; and
<br />WI�REAS, the Subordinatin� Cre,ciitor is willing to subordinate any lien it may have in respect to the
<br />Collateral by reason of Subordinating Creditor's Mortga�e 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, THER,EFORE, it ie agreed:
<br />1. The Subordinatin� Creditor hereby consents to a subordination of its priority position to the Secured
<br />Party aad 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 granring Sec�ued Party a first lien in a11 the
<br />Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original
<br />principal amowrt of One Hundred Ei�ht Thousand One Hundre�ci and 00/100ths Dollars ($108,100.00), recorded in
<br />the office of the Hall County Register of D�cis on the � day of � T� ,�.1 v , 2012 as Document
<br />No. �.o ��os1a(n .
<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 instruments of indebtedness to the extent herein provided in Para�raph 2, the Secured
<br />Party's iirterest in the Collateral sha11 have priority to over the lien of the Subordinating Creditor in that Collatera.l,
<br />and the Subordinating Creditor's interest in that Collateral is, in all respects, subject and subordinate to the security
<br />
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