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T'MS AGREEMENT made and executed this 6TH day of
<br />VICE PRESIDENT — Y EPTE R 2001 , by TIM A W 7C'T �-
<br />for Five Points Bank, hereinafter referred to as "Subordinat Creditor "��K ... r
<br />benefit of HOME FEDIERAL, SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, herrinafterhreftrrod to as more), for
<br />"Secured t]re
<br />Party".
<br />WITNESSETH:
<br />WHEREAS. JOSEPH M R.ROWN and LORI 7 BROWN, (whether one or more), hcrCinaftcr referred to as "Debtor', has
<br />granted to the Subordinating Creditor a Mortgage or Dccd of Trust dated September 23, 1999, and filed in the office of the Hall on
<br />October 1, 1999 as document # 99- 109673_ County Register of Deeds, in respect to that real estate described as:
<br />LOT ONE (1),•MIRACLF VALLEY SUBDIVISION, TO THE CITY OP GRAND ISLAND, HAIL COUNTY,
<br />NEBRASKA.
<br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain funds are to be
<br />advanced to the Debtor condition upon the Debtor providing the Sccurod patty with a first lien in respect to the above described real
<br />estate, hereinafter referred to as the " Collatefal'; and
<br />WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to dic Collateral by reason of
<br />Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever and wherever tiled in order to assure the
<br />Secured Party of a first lien position in and to tha Collateral;
<br />NOW, THEREFORE, it is agreed:
<br />I . no Subordinating Creditor IL=by consents to a subordination, of its priority position to the Secured Party and agrees that
<br />its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all times be secondary w the extent herein
<br />provided and subject to the lien of the Secured Party in respect to the Collateral.
<br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in all the Collateral as
<br />described above to secure indebtedness to be advanced to Debtor by Secured Party, in the on Teal ri ci sI am t of One Hundred
<br />Eighty Thousand dollars Dollars(Slso,000.00). Deed of Trust recorded as 0&C. #200105387.
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Parry for indebtedness evidenced by Promissory
<br />Notes or other instntmettls of indebtedness to the extent herein provided in Paragraph 2, the Scoured Pasty's interest in the Collateral
<br />shall have priority to over the lien, of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that
<br />Collateral is, in. all respects, subject and subordirtata to the security interest of the Secured Party
<br />owing to Sccurod patty in respect to the indebtedness described in Paragraph 2 along with interest stt and costs allocable there sum
<br />Cvidcnced.
<br />d. So long a.4 any portion of the dcw.ribed obligation to the Secured Party
<br />Deed of Trust or oticcr instrument of security between the Debtor and the Secur is
<br />arty are contrrolling�as todthe Collateral in which
<br />Secured Patty is to have a first security interest, including any time there is a conflict between it and the provisions of any lien
<br />instrument Granted to the Subordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, ,absolute and unconditional agreement of subordination without regard to the validity or
<br />enforceability of the Promissory Noteg or other instruments of indcbtedneaa between the Debtor and the Secured Party evidencing
<br />sums due or documents granting a security intet•c st in the Collateral, irrespective of the time or order of attachment or perfection of the
<br />security interest in tht Collateral or the order of filing the Deeds of Trust or other instrutents of security with respect to the Collateral.
<br />6. This Agreement shall remain in full force and effect and is binding upon the Subordinating Creditor and upon its
<br />successors and assigns, so long as any portion of the sums secured as described in Paragrapb 3 are outstanding and unpaid.
<br />7. The Subordinating Creditor and agrees that the Promissory Notes or other instrurncnts of indebtedness of the Debtor
<br />Compromised, accelerated, settled or relea
<br />evidencing the obligation between the Debtor and the Secured parry Wray from Time to time be renewed, extended, modified,
<br />released, Secured
<br />notice to or consent by the Subordinating Creditor,
<br />FIVE PPOINTS,
<br />"Suborditlatmb Creditor"
<br />TIM A. WOJCIK
<br />VICE PRESIDENT
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<br />200109433
<br />SUORD1 A ON AcMEMaU
<br />T'MS AGREEMENT made and executed this 6TH day of
<br />VICE PRESIDENT — Y EPTE R 2001 , by TIM A W 7C'T �-
<br />for Five Points Bank, hereinafter referred to as "Subordinat Creditor "��K ... r
<br />benefit of HOME FEDIERAL, SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, herrinafterhreftrrod to as more), for
<br />"Secured t]re
<br />Party".
<br />WITNESSETH:
<br />WHEREAS. JOSEPH M R.ROWN and LORI 7 BROWN, (whether one or more), hcrCinaftcr referred to as "Debtor', has
<br />granted to the Subordinating Creditor a Mortgage or Dccd of Trust dated September 23, 1999, and filed in the office of the Hall on
<br />October 1, 1999 as document # 99- 109673_ County Register of Deeds, in respect to that real estate described as:
<br />LOT ONE (1),•MIRACLF VALLEY SUBDIVISION, TO THE CITY OP GRAND ISLAND, HAIL COUNTY,
<br />NEBRASKA.
<br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain funds are to be
<br />advanced to the Debtor condition upon the Debtor providing the Sccurod patty with a first lien in respect to the above described real
<br />estate, hereinafter referred to as the " Collatefal'; and
<br />WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to dic Collateral by reason of
<br />Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever and wherever tiled in order to assure the
<br />Secured Party of a first lien position in and to tha Collateral;
<br />NOW, THEREFORE, it is agreed:
<br />I . no Subordinating Creditor IL=by consents to a subordination, of its priority position to the Secured Party and agrees that
<br />its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all times be secondary w the extent herein
<br />provided and subject to the lien of the Secured Party in respect to the Collateral.
<br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in all the Collateral as
<br />described above to secure indebtedness to be advanced to Debtor by Secured Party, in the on Teal ri ci sI am t of One Hundred
<br />Eighty Thousand dollars Dollars(Slso,000.00). Deed of Trust recorded as 0&C. #200105387.
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Parry for indebtedness evidenced by Promissory
<br />Notes or other instntmettls of indebtedness to the extent herein provided in Paragraph 2, the Scoured Pasty's interest in the Collateral
<br />shall have priority to over the lien, of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that
<br />Collateral is, in. all respects, subject and subordirtata to the security interest of the Secured Party
<br />owing to Sccurod patty in respect to the indebtedness described in Paragraph 2 along with interest stt and costs allocable there sum
<br />Cvidcnced.
<br />d. So long a.4 any portion of the dcw.ribed obligation to the Secured Party
<br />Deed of Trust or oticcr instrument of security between the Debtor and the Secur is
<br />arty are contrrolling�as todthe Collateral in which
<br />Secured Patty is to have a first security interest, including any time there is a conflict between it and the provisions of any lien
<br />instrument Granted to the Subordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, ,absolute and unconditional agreement of subordination without regard to the validity or
<br />enforceability of the Promissory Noteg or other instruments of indcbtedneaa between the Debtor and the Secured Party evidencing
<br />sums due or documents granting a security intet•c st in the Collateral, irrespective of the time or order of attachment or perfection of the
<br />security interest in tht Collateral or the order of filing the Deeds of Trust or other instrutents of security with respect to the Collateral.
<br />6. This Agreement shall remain in full force and effect and is binding upon the Subordinating Creditor and upon its
<br />successors and assigns, so long as any portion of the sums secured as described in Paragrapb 3 are outstanding and unpaid.
<br />7. The Subordinating Creditor and agrees that the Promissory Notes or other instrurncnts of indebtedness of the Debtor
<br />Compromised, accelerated, settled or relea
<br />evidencing the obligation between the Debtor and the Secured parry Wray from Time to time be renewed, extended, modified,
<br />released, Secured
<br />notice to or consent by the Subordinating Creditor,
<br />FIVE PPOINTS,
<br />"Suborditlatmb Creditor"
<br />TIM A. WOJCIK
<br />VICE PRESIDENT
<br />
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