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'• 89r- �. <br />r <br />SUBORDINATION 11GREi'1' <br />THIS SUBORDIN #T =ON AGREEMENT is entered <br />if �, 1989 by and between Teak Assa <br />, a corporation, and Bernard X. Comeau, <br />Champlain Valley Federal Savings and Loa <br />federally chartered savings and loan associati <br />RECITALS: <br />A. Champlain Valley, by virtue of a <br />Continental. Mortgage Company, a Nebraska corl <br />of a Pro iesarg.$oto dated December 5, 198 <br />principal ..:- .aliount of One Million Fifty <br />($101050,000,90) executed by Grand Island S <br />Nebraska general partnership (the "Note "), wh, <br />by a Deed of Trust, in property located in Gram <br />s as •legally described on Exhibit "A" ati <br />f incprporated herein by reference (the "Properl <br />Trust, dated December 5, 1984 is recorded in <br />Register of Deeds of Hall County, Nebraska a <br />006368; and <br />In Z day <br />;nvest>sents, <br />benefit of <br />ciation, a <br />pment from <br />is holder <br />to original <br />nd Dollars <br />kVestors, a <br />is secured <br />I, Nebraska, <br />hereto and <br />ich Deed of <br />rice of the <br />ent No. 84- <br />t. •B. Pursuant to the terms of an Assumptb bdification <br />Agreement 'dated April 30, 1987 and recorded it face of the <br />Register of Deeds of Hall County, Nebraska c .40, 1987 as <br />Document No. 87- 10327.6. Teak Associated Invents nc_ assum_ _ed _ <br />the obligations under said Note and Deed of Ti a result of <br />the purchase of the Property from Grand Islar Investors; <br />9 <br />C. Champlain Valley has been requested:l y the terms <br />of the Note and Deed of Trust to, among other- modify the <br />rate of interest to be paid by the borrower ler, modify <br />the term of the loan, and reduce the principaa aye thereof; <br />r and <br />O. Champlain Valley has required, as one <br />of said modification, that all liens and i <br />securing the. Note and Deed of Trust be and <br />superior to al,l. -liens and security irate= <br />Property, including that certain judgment 1. <br />Comeau pursuant to a Judgment filed in the Disl <br />County, Nebraska as Case No. 4448 entitled <br />Plaintiff v. Teak AssocjLUd Investments. Inc. <br />NOW, THEREFORE., for good and valuable <br />receipt and suffi-ciency of which is hereby <br />parties hereto agree as follows: <br />1. The judo'zent lien of Bernard K. Con' <br />Judgment filed in :the District Court of Hall,C <br />a case entitled Bernard-N. Comeau. Plain i <br />conditions <br />interests <br />prior and <br />gainst the <br />Bernard N. <br />urt of Hall <br />�� <br />,ation, the <br />edged, the <br />.suant to a <br />! lebraska in <br />Associated <br />J <br />:.i <br />k <br />1 <br />