Laserfiche WebLink
� <br />�� <br />� <br />— <br />— <br />N �� <br />B = <br />N � <br />0 ! <br />� <br />i <br />� — <br />� <br />�� <br />r <br />� <br />,�.. <br />�� <br />,,� <br />g' . <br />�� <br />RETURN TO: <br />Hame Federal Savitt�s & Loan <br />P O Box 1009 <br />Giand Island NE 68802 <br />P��'i <br />� <br />e <br />� � � r� <br />� � .. <br />� � c� cn <br />,� � <br />d � � G D N <br />T -;-� z —1 <br />� r c__:� —1 rTl O <br />� �" �" , � � � 0 �-'� <br />� �' r' �, _ p -*� <br />° �` i , o � C.J -n i V <br />�� s� v L <br />t�1 '�'--_ • �. . � � � <br />La D �n <br />c.--n � "T� r �7 � <br />�°' � r D <br />r� <br />p ,s� � N <br />r� �: C.�� � <br />� „ T> • U1 <br />� _; ���. , � '� --� � <br />� % � � � <br />0 7�"� � <br />v� <br />SUBORDINATION AGREEMENT <br />THIS AGREEMENT made and executal this � da.y of August, 2012 by and between HOME �:� <br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter refened to as �/e� <br />"Subordinating Creditor" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Party". <br />WITNESSETH: <br />Wf�REAS, David E Bartlett and Marsha R Bartlett, (whether one or more}, hereinafter referred to as <br />"Debto�", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated September 16, 2011 and <br />filed of record in the office of the Hall County Register of Deeds, on the 27th day of September, 2011, as Document <br />No. 201107159 in respect to that real estate describ� as: <br />Lot Two (2), Sussex Place Third Subdivision, in the City of Grand Island, Hall County, Nebraska. <br />WI�REAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain <br />funds are to be advance�l to the Debtor conditional upon the Debtor providing the Secured Party with a first lien in <br />respect to the above described rea.l 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 5ubordinaxing Creciitor's Mortga�e or Deed of Trust of record ta perfect security whanever <br />and wherever filed in order to assure the Secured Party of a first lien position in and to the Collateral; <br />NOW, T'�iERF,FORE, it is agre.e�i: <br />1. The Subordinating Creditor herehy consents to a subordination of its priority position to the Seciued <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 provideci 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 Secured Party a first lien in a11 the <br />Collateral as des�s'ibed above to secure indebtedness to be a.dvanced to Debtor by Secured Party, in the original <br />principal amourn of One Hundred Ninety Three Thousand Eight Hundred Fifty and 00/100ths Dollaxs <br />($193,850.00), recorded in the office of the Hall Cowity Register of Dceds on the �h da.y of August, 2012 as <br />Document No. �o �.�, o�l0 3 9•. <br />3. So long as an obligation is outstanding from the Debtor to the Secuted Party for indebtedness evidenced <br />by Promissory Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured <br />Party's itrterest in the Collateral sha11 have priority to over the lien of the Subordinating Creditor in that Collateral, <br />and the Subordinaxing Creditor's interest in tli,at Collateral is, in all respects, �bject and subordinsxe to the security <br />