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�� <br />�� <br />�� <br />0 <br />� � <br />N �� <br />0 — <br />� - <br />� � <br />� — <br />- <br />�� <br />� <br />�� <br />�� <br />' - -. <br />. . k+ _ . „ � <br />,'4`.:`. ' , <br />R�7'[JRN TO: <br />Home Federal Savings & Loan <br />P O Box 1009 <br />Cnand Island, NE 68802 <br />� <br />es� <br />� <br />� � � <br />� � �. <br />�� <br />1 <br />; <br />r,l c e <br />�� <br />� � <br />�� <br />I <br />SUBORDINATION AGREEMENT <br />a� <br />m <br />r <br />n ��; - <br />o ,� <br />-� �`"--- <br />�'I � +�3 <br />cr� <br />-a <br />r �, <br />�� <br />�� �'� <br />�r, <br />fTl ��., �.. <br />�� v" <br />Q 4�' <br />U � <br />`..J <br />, _. <br />ti <br />"�� <br />-:� <br />F—a <br />CO <br />:� <br />� <br />F-.-+ <br />H � <br />�_ � <br />O <br />c� cn <br />o -� <br />c n <br />z --� <br />� rn <br />� o <br />O �1 <br />� Z <br />�: rn <br />A CZ1 <br />r � <br />r D <br />cn <br />� <br />D <br />.� � <br />v� <br /><n <br />N <br />O <br />F-� <br />1'V <br />C� <br />-�.] <br />� <br />"J <br />� <br />THIS AGREEMENT made and executed this �l day of Au�ust, 2012 , by and between HOME ��, S�� <br />FEDERAL SAVINGS AND LOAN A550CIATION OF GRAND ISLAND, hereinafter referred to as <br />"Subordinating Creditor" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Part}�'. <br />WITNESSETH: <br />WHEREAS, Richard A Necker and Gwendolyn K Necker, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated November 4. 2009 , <br />and filed of record in the office of the Hall County Register of Deeds, on the 16�' day of November. <br />2009 , as Document No. 200909036 in respect to that real estate described as: <br />Lot Three (3), in Block Fourteen (14), in Schimmer's Addition to the City of Grand Island, Hall County, <br />Nebraska. <br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain <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 refeaed to as the "Collateral"; and <br />WHEREAS, 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 a11 <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 Secured Party a first lien in all the <br />Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original <br />principal amount of Thirty Seven Thousand Nine Hundred Sixty and 00/100ths Dollars ($37.960.00), recorded <br />in the office of the Hall County Register of Deeds on the l'1a-►�+ day of Au�ust. 2012 , as <br />Document No. �.0 1'a. o�� S�-�- <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 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 />