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� �� � � N � 0 �� � ..��■ N � A � � �� � � W � B � �� � �� �� � � � $ � .. � RETIJRN TO: Home Federal Savings & L�n P O Box I009 Grend Islaud. NE 68802 `� r '��' � �y ��3 : i` �� ,,.� �. -_ .�,. '� � l SUBORDINATION AGREEMENT NOW, THIItEFORE, it is agrced: 1. The Subordinating Creditor hereby consents to a subordination of its priority position to the Secured Party and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at a11 times be secondary to the extent herein provided and subject to the lien of the Secured Paxty in respect to the Collateral. 2. The Subordinating Creditor hereby consents 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 of One Hundred Thirty Seven Thousand & 00/100ths Dollars ($137,000.00), recorded in the office of the Hall County Register of Deeds on the � day of b�- , 2012 as Document No. 2012o9oi 3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness evidenced by Promissory Notes or other instruments of indebtedness to the e�ctent herein provided in Paragraph 2, the Secured Pa.rty's irnerest 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 a11 respects, subject and subordinate to the security interest of the Secured Party to the extetrt 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. THIS AGREEMENT made and executed this �'�` da,y of 0��'D bri,.1 , 2012 by and between HOME FF.DERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referr� to as "Subordinating Creditor" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Party". WITNESSETH: WHEREAS, Larry D Schmidt and Sandra L Schmidt, (whether one or more), hereinaf}er referred to as "Debtor", has granted to the Subordinatin� Creditor a Mortgage or Deed of Trust dated September 7, 2012, and filed of record in the office of the Ha11 County Register of Deeds, on the 19th day of September, 2012, as Document No. 201207783 in respect to that real estate describ� as: Lot One (1), Paradise Lake Estates Fourth Subdivision, Hall County, Nebraska. WI�1tEAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain funds a.re to be advanc� 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 WI�REAS, the Subordinating Creditor is willing w subordinate 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 gosition in and to the Collateral; r �� w i.:� n � d v O -� � _ Z � f� � � � m � "� O C_a) O `T� �� � T �. �� z � � --� D w r � � r n � N 7c � � � � _� � � C:7� � 0 � �� o / �