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m � � N n� � m"' � �cD m ; � n� � � �m N m O 0 W� o� p D Oz � cn w - � �� m � 2D� O U�i � N W W � m cmi o D r cDi� ta.,�� � � �° � � � � . . rn o o .,., m . . . o o � � � � • N � Z . O SUBORD�NATION AGREEMENT THIS AGREEMENT made and executed this ua da�of G�, , 2014, by HOME FEDERAL SAVIIVGS AND LOAN ASSOCIATrON OF GRA,ND ISLAND, hereinafter referred to as "Subordi�ating Creditor" {whether orie or�nore), for the bEnefit af HOME FEDER.AL SAVINGS AND LOAN ASSOCIATI4N OF GRAND ISLAND, hexeinafter referred �o as "Secured Party". WITNESSETH; WHEREAS, STEPHEN T. BOWEN AND JACQUELINE E, BOWEN, husband and wife, {r�vhether one or more), hereinafter referred to as "DEbtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated April 3, 20p6, and filed in the office of the Hall County Register of Deeds, as document no, 0200b03454 in r�spec# to that reaI estate described as: Lt4T THREE (3), BLOCK TWO (2), IN KAY-DEE SUBDIVISION, IN THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA, WHEREAS, fl�e Secured Parky has agreed to �nter into a loar�transaction with the Debtor, whereby cer�ain fur�,ds are to be advanced to the Debtor conditionai upon the Debtor providing the Sec�red.Party with a first i�en in respect to the above described reai estate, hereinafter referred to as the "Collaterai"; and �Lx7HEREAS, the Subordanating Creditor is willing ta subardina�e any lien zt may nave iri respect to the Collateral by reason of Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security�vhene�ver anc�whe�ever filed in order to assure�he Secured Party af a first Iien position in and to the Collateral; NOW, THEREFORE, it is agreed: 1. The Subordinating Creditor hereby consents to a st�bordination of its priority�osition to the Secured Party and agrees t�at its �ien in respect to the Mortgage ar Deed o�'Trust here�nabove describ�d, if any, shall at ali times b� secondary to the extent here7n provided and subjEc# to the lien of the Secured Party in respect to the Collateral. 2. The Subordinating Creditor here�y consents �o the D�btor grant�ng Secured Party a first l�en in all the Collateral as describ�d above to secure indebtedness to be advanced to Debtor by Secured Party, in the original principal arnount of One Hundred Ten Thousand and OO/I OQths Do�lars {$1 I O,a00.00) rEcorded as Document No. �D��la S'� , � 3- So lang as an obligation is outstanding fram Debtor to the Secuxed Party for indebtedness evidenced by Promissory Notes or other instruments of indebtedness to the exter�t herein provided in �'aragxaph 2, the Secured Party's interest in the CollateraI shali have priority over the Iien of the Subordinating Creditor zn that collateral, and the Subordinating Crec�itor's interest in that Collateral is, in all respects, subject and subordinate to the security tnterest of the Secured Party to the extenf of the princ�pa� sum yet ovvnzng to Secured Party in respecY to the indebtedness described zn Pa�agraph 2 along vvith interest and casts aIlocabie thereto, however evidenced.