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11 <br />C <br />-re to 4r <br />0.) n vi <br />m <br />N <br />RETURN TO: <br />Home Federal Savings & Loan <br />P O Box 1009 <br />Grand Island. NE 68802 <br />iC <br />\ :ic Pe f <br />vz <br />' n 0) <br />v - ri Z <br />r ( ' m m <br />C) N o <br />W <br />-r- r <br />r te - <br />(.1) <br />r ^cam.. is' <br />rN .��. <br />f (f) <br />SUBORDINATION AGREEMENT <br />THIS AGREEMENT made and executed this a1U day of February . 2013 , by and between HOME <br />FEDERAL SAVINGS AND LOAN ASSOCIATION 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 Party ". <br />WITNESSETH: <br />WHEREAS, Allan G Satterly and Jean M Satterly, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated August 1. 2011 , and filed <br />of record in the office of the Hall County Register of Deeds, on the 11 day of August. 2011 , as <br />Document No. 201105971 in respect to that real estate described as: <br />Lot Nineteen (19), Hidden Lakes Subdivision Number Four, 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 Trust hereinabove 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 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 One Hundred Eleven Thousand One Hundred Sixty Five and 00 /100ths Dollars <br />($111.165.00), recorded in the office of the Hall County Register of Deeds on the 210+ day of February, <br />2013 , as Document No. 2 o • 3 01533 <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 />R1 <br />0 <br />16 ,00 <br />