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nr � C� RI <br /> o 021X1 W zm tv <br /> Dam <O 0 t7 <br /> zDO Z OTZ 71 D <br /> W <br /> o =m z <br /> T{ Om J >.-`) a CO <br /> moo > rc co o wr <br /> morn <br /> o o m <br /> po <br /> � Z <br /> O <br /> RETURN TO <br /> Home Federal Savinr,s&Loan <br /> P O Box 1009 <br /> _Gland Island,NF (,XXOZ <br /> SUBORDINATION AGREEMENT <br /> THiS AGREEMENT made and executed this (oil' day of June,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 IIOME FEDERAL SAVINGS AND LOAN ASSOCIATION <br /> OF GRAND ISLAND,hereinafter referred to as"Secured Party". <br /> WITNESSETH: <br /> WHEREAS,Howard C Runner and Judy M Bunner, (whether one or more),hereinafter referred to as <br /> "Debtor",has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated February 18,2011,and filed <br /> of record in the office of the Hall County Register of Deeds, on the 25th day of February,2011,as Document No. <br /> 201101561 in respect to that real estate described as: <br /> Lot Eleven(11),Jack Voss Horse Country Club Second Subdivision to the City of Grand Island,Hall <br /> 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 /> 1 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 Fifteen Thousand Seven yundred and 00/100ths Dollars($115,700.00)recorded <br /> in the office of the Hall County Register of Deeds on the i'" day of Tune,2013,as Document No. <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 />