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m <br /> � � N n� � <br /> m"' � �cD m <br /> ; � n� � � �m N m <br /> � �o m � �� p 0 <br /> o �� p Z �z � cDi� <br /> °D �� 0 � D� � U�i <br /> W <br /> m� o D r cDi� o�o � <br /> � � c <br /> � �° � � <br /> rno � `.`. z <br /> 0o W � � <br /> � z <br /> O <br /> RETURN TO: <br /> Home Federal Savings&Loan <br /> P O Box]009 <br /> Grand Island.NE 68802 <br /> SUBORDINATION AGREEMENT <br /> THIS AGREEMENT made and executed this ���_��' day of January,2014,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, Anthony R Chapman and Kerry A Chapman,(whether one or more),hereinafter referred to as <br /> "Debtor",has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated March 10,2011,and filed of <br /> record in the office of the Hall County Register of Deeds,on the 23`d day of March,2011,as Document No. <br /> 201102293 in respect to that real estate described as: <br /> Lot Eighteen(18),Jeffrey Oaks Fifth Subdivision, in the City of Grand Island, Hall County,Nebraska. <br /> WHEREAS,the Secured Pariy 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 /> l. 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 ofNinety Eight Thousand Four Hundred Eighty Five and 00/100ths Dollars($98,485.00),recorded <br /> in the office of the Hall County Register of Deeds on the 2°d day of lanuary,2014,as Document No.201400020. <br /> 3. So long as an obligation is outstanding fi-om the Debtor to the Secured Party for indebtedness evidenced <br /> by Promissory Notes or other instruments of indebtedness to the extenf hei•ein 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 />