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m � � N � � mm o D m ; � n� ��cn pm N m � m � � o0 W � �o p � �O cs cDi� ; zD �, � �z o - �� 0 N OW W cn m� o O �cDi� � � � �� �o o �� z �� N z O RE'1'URN'1'O: Home Federal Savinas&Loan P O Box 1009 Grand Island.NE 68802 SUBORDINATION AGREEMENT THIS AGREEMENT made and executed this 20th day of May,2015,by and between HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND,hereinafter referred to as"Subordinating Creditor" (whether one or inore),and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinaftei referred to as"Secured Party". WITNESSETH: WHEREAS, William R Earl and Karen L Earl, (whether one or more),hereinafter referred to as"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated July 1,2014 aud filed of record in the of�ce of the Hall County Register of Deeds, on the 8th day of May,2015, as Document No.201502930 in respect to that real estate described as: Lot Four(4),Block Two(2),Ponderosa Lake Estates Third Subdivision,an Addition to the City of Grand Island,Hall County,Nebraska. WHEREAS,the Secured Party has agreed to enter into a loan transaction with the Debtor,whereby certain fuuds are to be advanced to the Debtor conditional upon the Debtor providing the Secured Party with a first lien in respect to the above described real estate,hereinafter referred to as the"Collateral";and WHEREAS,the Subordinating Creditor is willing to subordinate any lien it may have in respect to the Collateral by reason of Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever and wherever filed in order to assure the Secured Party of a first lien position in and to the Collateral; NOW,THEREFORE, it is agreed: 1. The Subordinating Creditor hereby consents to a subordination of its priority position to the Secured Party and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all times be secondary to the extent herein provided and subject to the lien of the Secured Party in respect to the Collateral. 2. The Subordinating Creditor hereby consents to the Debtor granting Secur�ed Party a fiist lien in all the Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original principal amount of One Hundred Sixty Four Thousand and 00/100ths Dollars($164,000.00) recorded in the office of the Hall County Register of Deeds on the 20th day of May,2015, as Document No. 201502930. 3. So long as an obligation is outstanding fi•om the Debtor to the Secured Parry for indebtedness evidenced by Promissory Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2,the Secured Party's interest in the Collateral shall have prioriry to over the lien of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that Collaterai is,in all respects, subject and subordinate to the security