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<br />RETURN TO:
<br />Home Federal Savir�s 8c Loan
<br />P O Box 1009
<br />Gisnd Island. NE 68802
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<br />SUBORDINATION AGREEMENT
<br />THIS AGREEMENT made and executed this � day of Q c;� �r , 2012 by and between
<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as
<br />"5ubordinating Creditor" (whether one or more}, and HOME FF.DERAL SAVINGS AND LOAN ASSOCIATION
<br />OF GRAND ISLAND, hereina.fter referred to as "Secured Party".
<br />WTTNESSETH:
<br />WHEREAS, Patricia A Gerlach and ,(whether one or more), hereinafter referred to as "Debto�", has
<br />granted to the Subordinating Creditor a Mortgage or Deed of Trust dated January 6, 2011, and filed of record in the
<br />office of the Ha.11 County Register of Deeds, on the 20th day of Jarniary, 2011 as Document No. 201100453 in
<br />respect to that real estate described as:
<br />Lot Three (3), Valley View Third Subdivision, In the City of Crrand Island, Hall County, Nebraska.
<br />WFIEREAS, 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 Secwed 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 Pariy of a first lien position in and to the Collateral;
<br />NOW, THQtEFORE, it is agr�l:
<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 hereina.bove described, if any, shall at all
<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 a11 the
<br />Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Party, in the ori�inal
<br />principal amou� of Seveirty Nine Thousaad Seven Hundred and 00/IOOths Dollars ($79,700.00), recorded in the
<br />office of the Hall County Register of Deeds on the � day of ("�� e.{� b o r , 2012 as Document No.
<br />a oiav9 i �a .
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Pariy for indebtedness evidenced
<br />by Promissory Notes or other instrumerns of indebtedness to the eartent hetein provided in Pazagraph 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 />iuterest of the Secured Party to the eutent of the principal sum yet owing to Secured Pariy in respect to the
<br />indebtedness described in Paragraph 2 along with interest and costs allocable thereto, however evidenced.
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