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201704545
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Last modified
7/8/2017 1:06:12 PM
Creation date
7/7/2017 10:32:46 AM
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DEEDS
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201704545
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201704545 <br />FSA -2455 (09-16-16) Page 2 of 3 <br />2, THLREFORE, in consideration of the Lendei's agreement to make such loan to Barrower and meet other <br />conditions of this subordination, the Government (t) 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 />See Exhibit A <br />3. This subordination is limited to (1) the ainount. 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 Lend&s lien, vaid (3) the amount actually advanced for foreclosure costs made by the Lender. Any <br />am ou nt i n excess of such amount wl 11 n ot be covered by thi s subordination unt e s s p rior written co n s on t was <br />o btai n P, d frorn tb o Govern m ent fo r i ncurr ing th e exp end iture in que stioin. <br />4. The, Lender must. - <br />a. I n co rpo rate i nto tb e Bo rrower's p rom i s sory note a state m ent th at th e I oan w i I I be in defau It s houl d any <br />proceads 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 Jand or to the coinversion of wetlands to produce <br />an agricultural commodity, as provided by 7 C.F.R. Part 799 or any successor regulation, or (2) for any <br />purpose not provided for above. <br />b. Obtain a perfected sernirity interest on the above property, <br />c. Give notice of foreclosure as required by the Government. <br />5. F SA o ffs ets under the Debt Co I I action Act (3 1 U. S, C, 3 711 et -so q.) or 7 C.F.R., Part 3 have priority over <br />this subordination. <br />6. When the indebtedness has been satisfied, lender ini-ist mark this form "PAID IN FU1_V' and return it to the <br />Department of Agniculture at the following address: <br />Hall County FSA <br />2550 N. Diers Ave., Suite X <br />Grand Island NE 68803 <br />
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