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N) i .% ? <br />co Q''` <br />e <br />W pQ <br />pQ-36 <br />Return to City of Grand Island after Recording. <br />SUBORDINATION AGREEMENT <br />COMES NOW the City of Grand Island, Nebraska, secured party/beneficiary and hereby <br />partially subordinates its trust deed/real estate lien recorded May 25, 2016, on the following <br />described real estate: <br />THE WESTERLY TWO THIRDS (W 2/3) OF LOT SIX (6), IN BLOCK FIFTY <br />FIVE (55) OF THE ORIGINAL TOWN, NOW CITY OF GRAND ISLAND, HALL <br />COUNT, NEBRASKA. <br />It is the intent of this Agreement that the trust deed for amounts loaned by Pinnacle Bank <br />to FAmos Construction Inc., a Nebraska corporation and The Chocolate Bar Inc., a Nebraska <br />corporation (Borrower) that was filed March 29,2019 as Instrument Number 201901813 shall be <br />superior to the trust deed/real estate lien of the City of Grand Island, its successors and assigns <br />recorded September 29, 2016, up to the amount of $175,000.00 plus interest and amounts <br />advanced to protect the collateral. Thereafter, the City of Grand Island's lien shall have priority. <br />It is further understood that this subordination shall include all current obligations, extensions, <br />renewals, advances or modifications made by the City of Grand Island, Nebraska to Borrowers <br />which is secured by the trust deed/real estate lien recorded September 29, 2016 as Document <br />Number 201606457 in the records of the Register of Deeds of Hall County, Nebraska. Nothing <br />in this Subordination Agreement is intended as a promise to provide financing or make <br />advances to Borrowers by the City of Grand Island, Nebraska and it is not the intention of the <br />City of Grand Island, Nebraska to warrant or guarantee the obligations of Borrowers but merely <br />to partially subordinate its lien interests under the instrument recorded at Document Number <br />201606457. It is understood that Pinnacle Bank intends to lend funds to Borrowers but that the <br />subordinated amount is not to exceed $175,000.00 plus interest and amounts advanced to <br />protect the collateral. <br />Nothing in this instrument is intended to relieve Borrowers of their obligation to the City of Grand <br />Island, Nebraska or to subordinate any other lien interests including, but not limited to, real <br />estate taxes and special assessments. <br />Dated: ('tO c \o..L! \aoi 9 City of Grand Island, Nebraska <br />ON 'OMEN! SV a3U31N3 <br />