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<br /> � ` 06/14/99 6ION 19:27 FAX 19089817620 UNION BANF{ GI NE �001
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<br /> REAL PRCIPERTY � o
<br /> SUBORDINATION AGREEMENT �
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<br /> RONALD R. AGUILAR MOU �
<br /> NTAIN WEST FINANCIAL, INC.
<br /> 715 N. WHITE ITS SUCCESSORS AND/OR ASSIGNS
<br /> GRAND ISLAND, NE 68803 207 N. PINE
<br /> GRAND ISLAND� NE68801
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<br /> 715 N. WHITE
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<br /> �08-389-4648
<br /> C D1Tfl: City of Grand Island, a Municipal Corporation, trustee and
<br /> C1
<br /> For valuable oonskdera6on,the reoeipt and sufticieAOy of whioh are 6�olcAOwledged,C�editor and M� ?NTA TN . W .ST. T NANC'T A T.�
<br /> I-A1� _ _
<br /> _�,,. ("Lender")re�olve ihe priority of their debte and security intoteats snd agrea as follows:
<br /> 1. GREDITbR'S SECURITY IN7�REST. Creditor�Y�Q$ Alds a �Q( in the amount afs 17'���' and related
<br /> Mort pa or Deed oi Trust whiCh wAd roCO�ded Or1 �u `?� ��y� in THF R F.(,T�TRR p�0EEL1G
<br /> in itte bGUke anq reoofds of ihe.. . fw
<br /> urdy, jf� ,and ancumbaring the following da9afbad real property,sll present
<br /> antl tuiure improremer�and flxtures locatsd thereon(tha`Property'):
<br /> LOT ELEVEN ( 11 ) AND THE SOUTH FIVE ( 5) FEET OF LOT TWELVE ( 12) ,
<br /> BLOCK THREE ( 3) , LAMBERT' S SECOND ADDITION TO THE CITY OF GRAND
<br /> ISLAND, H�1LL COUNTY NEBRASKA
<br /> ,
<br /> 2. LENDER'S SECURiTY INTEREST AND CON[1RION PREG�D�NT. �orrowpr h�s requasted a$ ��'� 38.400 �oan from Lender to
<br /> be secured by a MorDgege or�eed oi Tn,at on the Property trom Qrantor/Mortgapor in lavor of Lsnder. Lander ia only wilGng to mske the loan on
<br /> condltlon that Creditor's security interest deecribed in parag�aph 1 b9 eubOrdin�ted io the Mort4age or Deed of Trus! to be exeouted In favor of
<br /> �ender, and recorded in the Re�ister of Deeds Office as Docume�it No. 99-106594.
<br /> Lender's secudry Interest wlll also secure,wlthou Iimltation,ail other sums due under tha loan as amended from tlm�to Ums,and such additiolldl
<br /> sums as lsntler may aQvance under the provisions as to tuture adwances, addltlonel suma for the purpoae of curing any of BorcowaPa defaults,
<br /> Interest on principat, and �ttarneyo'faae and co�ca incur�.d by l�nd�r fn �+y proc�rdirtgs ariaing out 4f ar in connection with Lentler's securiiy
<br /> intonst,ineludine proceedings to enforce or foreclose it,sll 8s permitted by the terms end COntlftions of Lender's Mortgage or Daed of Tn�st.
<br /> 3. 5llBOHDIHATIQN OF CREDI7'�R'S S�CURIIY IN7'EiiEST. Ctaditor sprses that Ita secufity IrReCeat arld aIl of C�edito�'s�ighis theroundor ehall at
<br /> all tim68 p6 IRfAfior and subordinate tQL� s seourhy Intersst and Lsnder'a rtghm in th6 Prop9fty, inolutling any extensions, r9newels, or
<br /> modiflcatfons,up to a maxlmum of$��� 3�.,1�11(L,plus interast.
<br /> 4. PRIDRITY OF SECfJRI1Y INTEREST9. The priority of the security intereate belonping to Cretlitor and Lender in the Property wlll ba governsd by
<br /> this AAreemant and not by tNe time ar Ofd9f in whiCh the eeoutiiy iflbere9t9 wer6 oreated or perte4ted,by recording in ihe epproprlate public offics,or
<br /> othrrwisr.
<br /> 5. WA1VF�i OF LIMITATJOd3. Creditor waivas any obligati0n of Leoder to provide Geditor witl� noUce of any or sll am�ndmente, extenalons of
<br /> renswals of tha loan, additional advances or loans, notice of dafeutt, notioe of anaeteratlon of dabt, notice of demand tor payment or nolice oi
<br /> repoeeeseiOA arld the �ight ot Creditor to requira I.snder to marshall any c411ataral. In additiorl, Lsndef may take or refrain from tsking any aalon
<br /> (induding,buc not 1lmitad ta,making addtpon�l advancrs or losns)wlth rospoct to eorrrnwr,any gusuantor,or w'iy coll�teral without notice to or the
<br /> oonsent of Creditor and wittwut ettecting any of Lender's rightp unOef this Aereement.
<br /> 6. DOCUMENTATION ANp NQN-INTERFERENCE Craditor wllt not prsvsnt,hinder or detay Landa�from er1f0�Cing itb eecurity intorest. Credltor will
<br /> exeoute and deliver to Lender such edditionel documants or oiher inatrumante ae the Ler,der may deem neoessary io aarry out this aeraement.
<br /> 7. TERMINATION. This /4ereement wil! ramain In full force and effect naw and forever, desptte the commencement of any federal or seate
<br /> bankruptCy,ineolvenCy,receivs�ship,Ilquldatlon or raorpanlzaUon prooeadirtg.
<br /> 6. EFFECT ON BQRROWER AND THIRD PARTIES. Thie Agre6meM will not affeCt the BMotoOability end priority of CreditoY'e and Lendar'e seourity
<br /> intarests(n the Prcparty and Nghts aqAlnat tha Bonowar,Grantor/MartgaBor,or Arry thlrcf p�rty oxoapt av vat torth haroin.
<br /> �Ea��d Fqma�aoT.w��,�µlta/ee� (ecq ea�a�ee
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