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- �� N � 0 �� � � N � � �� � - � N �� N �� a � �� RETURN TO: Home Fedetal Savings & I.oar► P O Box 1009 Grand Island. NE 68802 � e �� :9 � .. Pi � � � � � � � �� � � � � SUBORDINATION AGREEMENT r ... � C_J �--� _ �\) D —, r i°� � ` —1 c -- �, �, :' __ t1-t r° � �" _ _) l.. r.� J -L7 �� =3 _;.� =; � �, �' C�.) , S � '� ��'� � f' I '� �,� � � ._. v� n � Q "'� C D z rn --1 � o o T � � �r f *1 D '� r � r n V� � D � cn N 0 4-� i'V O �O O7 �v N THIS AGREEMENT made and executed this o1, day of �' 2012 by and between /b HOME FEDIItAL SAVINGS AND LOAN ASSOCIATION OF GRAND . SLAND, hereinafter referred to as "Subordinatin� Creditor" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Party". WITNESSETH: WI�REAS, Plulip S Burt and Vicki J Burt, (whether one or more), hereinafter referred to as "Debtor", has ganted to the Subordinating Creditor a Mortgage or Deed of Trust dated October 9, 2009 a,nd filed of record in the office of the Ha11 County Register of Deeds, on the 19th day of October, 2009, as Document No. 200908346 in respect to that real estate described as: Lot Sixteen (16), Kallos Second Subdivision, City of Grand Island, Ha.11 County, Nebraska. VVHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain funds are to be advanced to the Debtor conditional upon the Debtor providing the Secured Party with a first lien in respect to the above described real estate, hereinafter referred to as the "Collateral"; and WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the Collateral by reason of Subordinating Creditor's Mort�age or Deed of Trust of record to perfect security whenever and wherever Sled in order to assure the Secured Party of a first lien position in and to the Collateral; NOW, THFRFFORE, it iS agreai: 1. The Subordinating Creditor hereby consents to a subordination of its priority position to the Secured Pa.rty and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, sha11 at all times be secondary to the extern herein providecl and subject to the lien of the Secured Party in respect to the Collateral. 2. The Subordinating Creditor hereby consevis to the Debtor granting 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 amount ofATinety Two Thousand Thr� Hundred and 00/100ths Dollars ($92,300), recorded in the office of the Ha11 County Register of Deeds on the �� da,y of _ /l. �-� , 2012 as Document No. ao�a� 3. So long as an obligation is outstandin� from the Debtor to the Secured Party for indebtedness evidenced by Promissory Notes or other instruments of indebtedness to the extent herein provided in Pazagraph 2, the Secured Party's interest 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 a.11 respects, subject and subordinate to the security interest of the Secured Pariy to the extent of the principal sum yet owing to Secured Party in respect to the indebtedness describeci in Paragraph 2 along with interest and costs allocable thereto, however evidenced. �'�":� r ^fi ?� `�:r a 5� ...