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r N n CO <br /> mm °OcD <br /> n91 7J W zm IV m <br /> 0o � no co zDN <br /> m�00 <br /> > ri) N C <br /> N 0 <br /> o <br /> O m O CO <br /> CO <br /> O <br /> O <br /> RETURN TO: <br /> Home Federal Savings&Loan <br /> P O Box 1009 <br /> Grand Island,NE 68802 <br /> SUBORDINATION AGREEMENT <br /> THIS AGREEMENT made and executed this a 15.1. day of August,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,James D Uden and Judy R Uden,(whether one or more),hereinafter referred to as"Debtor", <br /> has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated December 1,2011 and filed of record <br /> in the office of the Hall County Register of Deeds,on the 15th day of December,2011,as Document No. <br /> 201109409 in respect to that real estate described as: <br /> See Attached Exhibit"A" for Legal Description <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 Forty Eight Thousand Five Hundred and 00/100ths Dollars($48,500.00),recorded in the office <br /> of the Hall County Register of Deeds on the also day of August,2013,as Document No. .2013 0 G.FS 3 3 . <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 />