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01 <br />ICI <br />a� ,.. • <br />tn <br />Iv A s <br />rn <br />(Z.7 <br />CT) <br />Cr, <br />After Recording Return to: NEDCO, 4445 S. 86`h Street, Suite 200, Lincoln, Nebraska 68526 <br />SUBORDINATION AGREEMENT <br />RECITALS <br />Owner holds fee simple title to real estate legally described as follows: <br />Lot One (1), Lemke Subdivision, in the City of Grand Island, Hall County, Nebraska. <br />This agreement dated for reference MAR 0 1 2016 ( "Subordination <br />Agreement "), is made by and among: the SMALL BUSINESS ADMINISTRATION, an agency <br />of the United States of America ( "SBA "); Heritage Bank ( "Lender "); and Kelan J. Kava <br />( "Owner "). <br />SBA is the holder and beneficiary of a Deed of Trust executed by Owner dated February <br />19, 2015, which was recorded on March 3, 2015 as Instrument No. 2015 -01277 <br />This Deed of Trust ( "SBA Security Instrument ") was pledged to secure a note in the sum <br />of $92,000.00 in favor of Nebraska Economic Development Corporation ( "CDC "), which <br />evidences a loan made by the CDC to Kelan J. Kava ("Borrower") under SBA's 504 Loan <br />Program ( "SBA Loan"). <br />Owner has also executed, or is about to execute, a deed of trust in favor of Lender, which <br />shall be recorded concurrently herewith. <br />This Deed of Trust ( "Lender's Security Instrument ") secures a note in a sum not to <br />exceed $99,500.00 dated , which evidences a loan to the Owner made by the <br />Lender ( "Lender Loan"). <br />Lender has requested that SBA's lien position on the real and personal property described <br />in the SBA Security Instrument ( "Property ") be subordinated to the lien position of Lender's <br />Security Instrument. SBA is willing to do so provided that it retains its priority with regard to all <br />other legal and equitable interests in the Property. <br />