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mom C <br /> zm� ry m RI <br /> w O a m <O o O <br /> -D O Z mz D <br /> W co <br /> r 0 =m z <br /> m <br /> D A N <br /> r � <br /> moor E co c <br /> 0 <br /> 0 co z <br /> 00 <br /> rn z <br /> 0 <br /> RETURN'I(1: <br /> IIome Federal tiavin jpau <br /> , ,Q l3ux 1009 <br /> (fraud lclM4,NE 68802 <br /> SUBORDINATION AGREEMENT <br /> tiiHS AOREE.MENT made and executed this Lv ' day of . )<< rte, , 2013,by and between <br /> HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND,hereinafter referred to as <br /> "Subordinating Creditor"(whether one or more), and IIOME FEDERAL SAVINGS AND LOAN ASSOCIATION <br /> OF GRAND ISLAND, hereinafter referred to as"Secured Party". <br /> WITNESSETH: <br /> WHEREAS,Brian L Priess and Judy K Priess, (whether one or more),hereinafter referred to as"Debtor", <br /> has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated July 8, 2011, and filed of record in the <br /> office of the Hall County Register of Deeds, on the 22nd day of July, 2011, as Document No. 201105377 in respect <br /> to that real estate described as: <br /> Lot Seven(7)of Scudder%Addition to the Village of Doniphan,Ball 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 Sixty Four Thousand One Hundred and 00/100ths Dollars($64,100.00)recorded in the office of <br /> the Hall County Register of Deeds on the i.94-6 day of /_A_a 7 ao 13 ,as Document No. <br /> 16113a4a33 . <br /> 3. SP!pits 0 an Wiggled=i frOfill the Rghtgr Ig 09$VCififiI4 NM'tr'r indOl*Q**Qs%av_ideww0 <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 />