|
201901177
<br />SUBORDINATION AGREEMENT
<br />THIS AGREEMENT, made this 28th day of February, 2019, by and between U.S. BANK
<br />NATIONAL ASSOCIATION, a national banking association with its principal place of business at
<br />400 City Center, Oshkosh, WI 54901 (hereinafter referred to as "Lender") and GRAND ISLAND
<br />REGIONAL HOSPITAL, INC., a Nebraska corporation, having its mailing address located at 3533
<br />Prairieview, Grand Island, NE 68803 (hereinafter referred to as "GIRH").
<br />WHEREAS, pursuant to a Hospital Lease, dated February 28, 2019, between GIRH and
<br />GI Hospital Building, LLC, a Nebraska limited liability company ("Hospital Building"), GIRH
<br />shall occupy certain land and improvements (collectively hereinafter referred to as the
<br />"Premises") at 3533 Prairieview, Grand Island, NE 68803 in Grand Island, Hall County,
<br />Nebraska and located on the property described on Schedule I attached hereto and made a part
<br />hereof (as the same may have been or may hereafter from time to time be amended, modified or
<br />restated being hereinafter referred to as the "Hospital Lease"); and
<br />WHEREAS, pursuant to a Personal Property Lease, dated February [27], 2019, between
<br />GIRH and GI Hospital Equipment, LLC, a Nebraska limited liability company ("Hospital
<br />Equipment"), GIRH shall lease certain items of personal property (hereinafter referred to as the
<br />"Personal Property") from Hospital Equipment (as the same may have been or may hereafter
<br />from time to time be amended, modified or restated being hereinafter referred to as the
<br />"Personal Property Lease"); and
<br />WHEREAS, pursuant to a Master Equipment Lease Agreement, dated February [27],
<br />2019, between GIRH and Hospital Equipment, GIRH shall lease certain items of equipment
<br />(hereinafter referred to as the "Equipment" and together with the Premises and the Personal
<br />Property, the "Leased Property") from Hospital Equipment (as the same may have been or may
<br />hereafter from time to time be amended, modified or restated being hereinafter referred to as the
<br />"Equipment Lease"); and
<br />WHEREAS, pursuant to an Option to Purchase Agreement, dated as of February [27],
<br />2019, between GIRH and GI Hospital Real Estate, LLC a Nebraska limited liability company
<br />("Hospital Real Estate" and collectively with Hospital Building and Hospital Equipment, the
<br />"Pledgors" and each, a "Pledgor"), GIRH has certain rights to purchase the Premises (the
<br />"Purchase Option") (as the same may have been or may hereafter from time to time be
<br />amended, modified or restated being hereinafter referred to as the "Option Agreement" and
<br />collectively with the Hospital Lease, Personal Property Lease and Equipment Lease, the "GIRH
<br />Agreements" and each, a "GIRH Agreement"); and
<br />Whereas, Lender is or will be the holder of a certain (i) Construction Deed of Trust and
<br />Security Agreement with Assignment of Rents dated as of February 28, 2019, and (ii) Leasehold
<br />Construction Deed of Trust and Security Agreement with Assignment of Rents dated as of
<br />February 28, 2019 to be recorded in the Office of the Recorder of Deeds of Hall County,
<br />Nebraska, which covers the Premises form a part (collectively, as the same may have been or
<br />
|