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<br /> : ; ,,,.; w• "�.•. SU90RDINATION AGREEMENT t'�1_, �0 2 4 3 3 -
<br /> 7
<br /> v r:..,"ty.,'�„ , ���°--
<br /> For and 1n conslder�tlon of Overland N�tlonal Bank (hereinafter c�lled
<br /> � °� Lendery, �king addition�l fln�nciag avallable to Central Mebrask� �00�0111 ;=;=_T,—.�--- — _
<br /> � Industries, Inc., (herein�fter ulled Barr�ower) co�es now, the S�ull Buslness f•—� :�,-�,,.r=.-_.
<br /> � Ad�inistr�tlon (herelnafter c�11ed SBA) Mhich h�s �ad� two lo�ns to Borrower (HAl- +
<br /> I-404,639-20-08-OM and QL-B-456.233-20-04•ON) md whlcri has rights, title or --
<br /> • ����� � intar�sts in two �ortgAges both d�ted Sapte�ber 14, 1981, recorded on SepteMber �.;.;-„------
<br /> 14, 1981, in the Register of Deeds Office of H�ll County. Nebraska, the f9rst "'-"r`��'�'-'�•��"'—"
<br /> �;�
<br /> arortgage �s Instrument No. 81-00470� �nd the second Mortgage as Instruaent No. 81- ____
<br /> 004710, both 1Qgally described �s follorrs: �x��
<br />_ �.. - ---.���
<br /> V ° � ° . ' P1at of a tract land ca�prising a part of the Southeast t ; -�.. = ,�,,=T.�.,�.
<br /> � ' Quarter of the Southeast Quarter (SE 1/4 SE 1/�) of , •
<br /> Section Twenty-one (21)� Townchlp Eleven (11) North, Range , .
<br /> � Nine (9) Mest of the 6th P.M.� in the C1ty of Grand �
<br /> , Island, Nall County, Nebraska, more particularlY described i . -_ v .•.•-.� -�•
<br /> as follows: Beginning at the intersectlon of the east ! � �
<br /> �� 11ne of lincoln Street with the south line of Oelta � .
<br /> - St�eet; tAc�cA easterly along the south line of said
<br /> pelta Street, a distance of Tro Hundred S1xty-faur (264.Oj . , . ,,,�,�„
<br /> fee# tA the uest liae of Edd�y Street; thence southerly � � � .:�r�j;..;_,'�'
<br /> , i along the �rest 1 ine of said Eddy Street, and thi s 11ne � ��-� ��-
<br /> } pro�ected southerly, a d�lstance of One Nundred Twenty �:};�;i;_..-
<br /> i (120.0) feet; thence weste�rly parallel to the sauth line '_�-_.
<br /> .T..._:�
<br /> of said Delta Street, a distance �f Two Hundred Thirty- , -._
<br /> ni�e (239.0) feet to a point T�enty-five (25.0) feet east ,,;
<br /> af the east tine of said Lincoln Street; thence northerly �
<br /> parallel to the east line of said Lincoln Street, a --
<br /> �. ��;�' � dlst�nce of Thirty 30.0) feet; thence westerly parallel �
<br /> ''�'�"'���, to the south line o� said Delta Street, a dist�oce of
<br /> '� Twenty-f�ive (25,0) feet to the est line of said lincoln °�"..���
<br /> � Street; thence northerly along the east line of said :,.r _
<br /> ' � Lincoln Street, a distance of Ninety (�6.0) fee� �o i.i�e � •
<br /> place of beginning and contaiM ng 0.710 a�res more or , .± �`
<br /> less. � � �
<br /> . ;,, ,.�' � and hereby subordinates any right, titl e, or interest in a portio� of these tMO .:.��;�u
<br /> • mortgages only, described as follows: :'
<br /> ��';':•'.i:�':t '
<br /> � f ':��� ., A tract of land comprisiag a part of the Southeast Quarter
<br /> y �
<br /> ; t of the Southeast Quarter (�� 1/4 SE 1/4) of Section 1,;;
<br /> Twenty-one (21), 7ownshi�a Eleven (11) North, Range Nine •
<br /> . :.t,::;
<br /> ,. � `, . ;;� a� ,,�;.,�. (9� ilest of the �¢h P.M., in the city of Grand Island, , • ,�,,t.,.,
<br /> • �� �• Ha 1 Co�a�ety, Nebraska, �re particularly described as , � . . ,, ti};;;'=
<br /> ���� � � '• ���� fol lows; Beginning at th� intersection of the east 1 ine � �
<br /> � �� �� of L i�c��n Street wi th the south l i ne of Del ta Street; � ��; '' ��� ' :;,;�':
<br />���,� �heoce easterly along the south line of said Delta Street, �. � �
<br /> �'�� a d9s#ance of Two Hundred Sixty-four and Twenty-eight '•I�`.�;,�
<br /> �' Hundrea�Zhs (264.28) feet t�o the west 19ne of E��y Street; ,
<br /> � ��:'`� �' � thence s�;�therly along the west line of sai� Ec��y Stree4., � ��'���`:, .
<br /> � •�i��,,•��'' � a distance of Two Hundred ��xty-four and Two-t�e,�ths '�„�,. ,'
<br /> ' . �''���; (264.2) feet, to the east line of said Lincain Street; " ' g, ,
<br /> thence northerly a�o�g !he east 11ne of said lincoln „
<br /> � Street, a dista�ce vf Onel�undred Ywenty (120.0) feet to
<br /> � ;•,�`.,�; � the pl ace of begina9ng.
<br /> . . , It is spe��fically understood and agreed that this subordination is limited in the
<br /> �. followiucg a�PSpects:
<br /> . , ; ;�,,:,,..
<br /> :� �;��'�''� •� a. The �c��"ar amount of this subordination in �.hr� real estate
<br /> + � Y:��. � sha16 �r.,��t exceed 5190,0�0 and SBA does not A�y� +t�his .
<br /> ,,1 �,�r.:. , ,�
<br /> , ,;. a �• :.�+ instraoment subordinate its cl aim or interest ir� and to the
<br /> ; ` aroree�entioned co�8at2ral �n ary amauaot abm�e b1��,�1.C��•, ;
<br /> �
<br /> � b. This subo�dination is intemded to be only as to the
<br /> partially unpaid or Mnoiiy unpaid coaiw ui e.nc LC�IUC�
<br /> based upon a cert�in Prwissory No�e arade in the amount of
<br /> 5190,000, and upan na ather� claim that tY�e �ender may now
<br /> have or hereinafter acqufr� against the borrower; it being
<br /> further understood that the satisfaction in Mhole or part
<br /> � of the aforementioned Note sh�ll terminate this
<br /> subordination as to all amounts paid and that in no event
<br /> shall the amount of this subordination exceed 5190,000, or
<br /> the outstanding balance upon the said Note, whichever is
<br /> less. The subordination is limited to the amount of money
<br /> advanced to the 8orrower by Lender and does not
<br /> subordinate the lien of SBA to any greater amount and
<br /> � � _
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