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202603353
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Last modified
5/27/2026 4:01:30 PM
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5/27/2026 4:01:30 PM
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202603353
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202603353 <br />FSA-2455 (01-30-25) Page 2 of 3 <br />2. THEREFORE, in consideration of the Lender's agreement to make such loan to Borrower and meet other conditions <br />of this subordination, the Government (1) consents to the Borrower obtaining the loan from the Lender for such purposes, and (2) <br />agrees to and does subordinate in favor of the Lender and its successors and assigns its liens of security interests created or <br />evidenced by the above described instruments insofar as they cover the following described property and provided the Lender <br />perfects a lien on this property: <br />The West Half of the Northwest Quarter (W1/2NW1/4) of Section Six (6), Township Ten <br />(10) North, Range Ten(10) West of the 6th P.M., Hall County, Nebraska <br />3. This subordination is limited to (I) the amount actually loaned by the Lender to the Borrower (principal and <br />accrued interest) for the foregoing purposes, (2) future advances for taxes, insurance, and payments on liens prior to the Lender's <br />lien, and (3) the amount actually advanced for foreclosure costs made by the Lender. Any amount in excess of such amount will <br />not be covered by this subordination unless prior written consent was obtained from the Government for incurring the expenditure <br />in question. <br />4. The Lender must: <br />a. Incorporate into the Borrower's promissory note a statement that the loan will be in default should any <br />proceeds of the loan funds obtained as a result of this subordination be used (I) for a purpose that will <br />contribute to the excessive erosion of highly erodible land or to the conversion of wetlands to produce an <br />agricultural commodity, as provided by 7 C.F.R. Part 799 or any successor regulation, or (2) for any purpose <br />not provided for above. <br />b. Obtain a perfected security interest on the above property. <br />c. Give notice of foreclosure as required by the Government <br />5. FSA offsets under the Debt Collection Act (31 U.S.C. 3711 et seq.) or 7 C.F.R. Part 3 have priority over this <br />subordination. <br />6. When the indebtedness has been satisfied, lender must mark this form "PAID IN FULL" and return it to the <br />Department of Agriculture at the following address: <br />HALL COUNTY FSA <br />703 S WEBB RD, SUITE A <br />GRAND ISLAND, NE 68803 <br />
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