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201501677 <br />RE-RCCORCEE? <br />FSA -2455 (12- 31 -07) Page 2 of 3 <br />2. THEREFORE, in consideration of the Lender's agreement to make such loan to Borrower and meet other <br />conditions of this subordination, the Government (1) consents to the Borrower obtaining the loan from the Lender <br />for such purposes, and (2) agrees to and does subordinate in favor of the Lender and its successors and assigns its <br />liens of security interests created or evidenced by the above described instruments insofar as they cover the <br />following described property and provided the Lender perfects a lien on this property: <br />South Half of the Southeast Quarter (S1 /2SE1 /4) of Section Sixteen (16), Township <br />Eleven (11) North, Range Eleven (11) West of the 6th P.M., Hall County, NE, except a <br />tract of land described in Warranty Deed filed with Document No. 77- 001652 <br />3. This subordination is limited to (1) the amount actually loaned by the Lender to the Borrower (principal <br />and accrued interest) for the foregoing purposes, (2) future advances for taxes, insurance, and payments on liens <br />prior to the Lender's lien, and (3) the amount actually advanced for foreclosure costs made by the Lender. Any <br />amount in excess of such amount will not be covered by this subordination unless prior written consent was <br />obtained from the Government for incurring the expenditure in question. <br />4. The Lender must: <br />a. Incorporate into the Borrower's promissory note a statement that the loan will be in default should any <br />proceeds of the loan funds obtained as a result of this subordination be used (1) for a purpose that will <br />contribute to the excessive erosion of highly erodible land or to the conversion of wetlands to produce <br />an agricultural commodity, as provided by 7 C.F.R. part 1940, subpart G or any successor regulation, or <br />(2) for any purpose not provided for above. <br />b. Obtain a perfected security interest on the above property. <br />c. Give notice of foreclosure as required by the Government. <br />5. FSA offsets under the Debt Collection Act (31 U.S.C. 3711 et seq.) or 7 C.F.R. part 3 have priority over <br />this subordination. <br />6. When the indebtedness has been satisfied, lender must mark this form "PAID IN FULL" and return it to the <br />Department of Agriculture at the following address: <br />Hall County FSA <br />2550 N Diers Ave., Suite K <br />Grand Island, NE 68803 <br />