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- <br />� <br />�� <br />N � <br />0 �� <br />� <br />� ..�� <br />N �� <br />0 �� <br />� — <br />� �� <br />W �� <br />� �� <br />1�� <br />- <br />�� <br />�� <br />�� <br />��� <br />�� <br />� <br />� � <br />� � .. <br />� <br />� � <br />� <br />. �,i`�.� <br />t". <br />� <br />�� <br />D <br />r <br />r , '�i ` <br />c ' <br />� ,'-`_ <br />r�, i�__ <br />n� i `_ <br />�n r�. <br />_, <br />,.-� <br />:� <br />:_-, �-, , <br />Tj �.' <br />rri i` <br />J z <br />vr S <br />r .� <br />�_J <br />1---- <br />�V <br />c'� <br />---a <br />W <br />0 <br />"C� <br />� <br />N <br />C ; <br />V7 <br />� � <br />� �-�{ <br />C D <br />2 —� <br />—� m <br />� o <br />o � <br />-'� � <br />�' � <br />y�- r� <br />r � <br />r :�,. <br />cn <br />� <br />✓ <br />� � <br />C! 7 <br />tn <br />.. REI'URN TO: <br />�� Home Fedeial Savines & Loan <br />� P O Box 1009 <br />Grand Island. NE 68802 <br />SUBORDINATION AGREEMENT <br />THIS AGREEMENT made and executed this Z(0'�' day of October, 2012, by and between HOME <br />FEDERAL SAVINGS AND LOAN ASSOCIAITON 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 refened to as "Secured Part}�'. <br />WITNESSETH: <br />WI�REAS, Clint A Brisbin and Charlene K Brisbin, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated March 21, 2011 and filed of <br />record in the office of the Hall County Register of Deeds, on the lst day of April, 2011, as Document No. <br />201102539 in respect to that real estate described as: <br />Lot One (1), Versaw Subdivision, Hall County, 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 referred 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 Tnist hereinabove descn�bed, if any, shall at all <br />times be secondary to the extent herein provided and subject to the lien of the Secured Pazty 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 Pariy, in the original <br />principal amount of Ninety Six Tho d and 00/100ths Dollars ($96,000.00), recorded in the office of the Hall <br />County Register of Deeds on the 2.�' day of October, 2012, as Document No. �,O 1�.� 8 93 (• <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 />Pariy'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 />N <br />O <br />F�-a <br />i'V <br />C� <br />ca <br />i--+ <br />W <br />F—► <br />��5� <br />