201608604 - Laserfiche WebLink

Browse

rn m � � � rnm � y rn o �� rn � rn a� � �o rn �C p � o �z � a z� � � � �� Z �7 U] o z� � � � — � �� rn� rn �� rn� � � =c�r� � � �o cn � � � �� r� 6]� � .�.� Z �� CI] � �7 Z � R�TURN`rC3: Hoz11e Federa�Sa�in�s&Laan P�Box I D�9 w �rand Is�a��d NE b88�2 SUBDRDINATI�N AGREEMENT THIS A�REEMENT made and�xecu�ed th�s�I s�day of Decembers 241�,by and b��vveen HUME FEDERAL SAVINGS AND L�AN ASSC�CIAT�C)N�F�RAND �SLANI�,here�nafter referred to as "Subord�na�i��g Credi�or"�w��e�h�r one or more}, and��N�E FEDERAL SAV�NGS AND L�AN ASS��IAT��N �F GRAND�SLAND,hereiraafter referred�o as"Seeured Par�y". 'L�V'�T`N�SSET�: �'L�V'H�REAS,Richard B Fox and L7iane M Fox,�vvhe�her on�or more},laereinafter referred�a as"I)eb�or", has granted to th�S uhord i��a�ing�red i�or a Mor�ga��or Deed of Trust da�ed Apri� 14,��1�,and fi�ed of record i�� �he off�ce of the�al� Cou��ty Rebis�er of Deeds,an�he 2��'' da}�of Ap�,il,2�1�z as Document No.��1�03296 in respec�to that rea�estate described as: AI� of Lo�Seven�y�-ei�;h��78)a��d th�'�'es�e�-ly Ter��1��feet of Lot Se�enty-nln��7��ln�Q�f��S Subd��isio��o the�ity of��-and �s�and,Hal��oun��,Nebraska. `1VH�REAS,the S�cured Par��has agre�d to enter into a loan�ransac�ion w��h the Debtor,v�hereby cer�a�n funds are�a be advanced to�he Debtor condirional upon�l�e Debtar pra�iding the Se�ured Party wi�h a frst lien in resp�ct to the ab��e described real es�a�e,hereinafter referred to as�he"Cal�a�eral";and V��EREAS,t�he Subordina�ing Credit�r is�v�l�ing�o subordinate any Iien�t may have in r�spect�o�h� Caila�eral by reason of Sub�rdina�ing Cr�di�or's Mo�-�gage or De�d af Trus�of record�o perfe��se�urit�vvhenever and w��erever fi�ed in order t�assure the S�cur�d Parfiy of a fi�s��ien position in a�d�o�he Calla�e�•al; NaVV,T�EREF�RE, ��i�agreed: �. The Subordina�ing Cred�tor her�by cans�nfs fo a subord�nation of�ts priority pasi��an to�he Secured Par�}�and agrees�ha�its lien in respe��o�he Mar�gage or Deed of T'rust here�nabor��described, if any,shall a�all fi�mes be secondary�o�he ex�en�herein pr�v�ded and subject to the li�n of��e Secured Parry irr respect�o the �oi�ateral. � �. Th�Subnrd�na�ing�red��or hereby c�nsen��o�he Debtor gran�ing Secured Parry a first lien in alI th� Goilateral as des�r�bed above to s�cure indebtedness ta be advanced�o Debtor by Secured Par�y, in�he flrigina� pr�ncipa�amoun�of N�ne�y Six Thousand and�Ql10Qths Do�lars�$96�,��D.�� rec�rded in the office of�he�ali Coun�y Regis�er of De�ds on the�nd day ofNo�rember,Z016,as Documen�No.��6�734�. 3. So long as an ob�igation�s ou�standing from the De�tar�o the Secured Pa�-ty far inde�ted�ae�s e�idenced by Promissor�Notes or o�h�r ins�ruments af�ndeb�edness to the extent her�in provided in Parabraph 2,�he Secured Party's i��erest in the�o�lateral sha��ha�e priori�y ta over the l�en�f�he Subnrdinating Creditor��ha��o�latera�, and th�Su�ordina�ing�reditor's in�eres#in tha#�ollateral is, �n all respecfis,subject and subardinate��he security