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<br />THIS AGREEMENT made and executed this 14" day of October, 2004, by and between HOME FEDERAL SAVINGS
<br />AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and
<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Party ".
<br />WH NL:SSETH:
<br />O
<br />WHEREAS, KENNETH W WIEMERS and CANDI 1 WIEMERS, (whether one or more), hereinafter referred to as O
<br />"Debtor ", has granted to the Subordinating Creditor a Mortgage or Deed of Fruit dated June 29, 2004, and filed of record in the office
<br />ofthe Hall County Register of Deeds, on the 12th day of July, 2004, as Document No. 0200406820 in respect to that real estate
<br />described as:
<br />LOT FIVF (5), LAKE DAVIS ACRES THIRD SUBDIVISION, HALL COUNTY, 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 conditional upon the Debtor providing the Secured Party with a first lien in respect to the above described real
<br />estate, hereinafter referred to as the "Collateral "; and
<br />WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the Collateral by reason of
<br />Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever and wherever filed in order to assure the
<br />Secured Party ofa first lien position in and to the Collateral;
<br />NOW, THEREFORE, it is agreed:
<br />1. The Subordinating Creditor hereby 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 ufTrust hereinabove described, ifany, shall at all times be secondary to the extent herein
<br />provided and subject to the lien ofthe 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 original principal amount of One Hundred
<br />Two Thousand and 00 /100ths - — Dollars ($102,000,00), nrecorded in the office ofthe Hall County Register of Deeds on the ZOi:r
<br />day of October, 2004, as Document No. AADiI-IOO. –
<br />3. So long as on obligation is outstanding from the Debtor to the Secured Party for indcbmdnces evidenced by Promissory
<br />Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured Party's interest in the Collateral
<br />shall have priority to over the lien ofthe Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that
<br />Collateral is, in all respects, subject and subordinate to the security interest of the Secured Party to the extent of the principal sum yet
<br />owing to Secured Party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocable thereto,
<br />however evidenced.
<br />4. So long as any portion ofthe described obligation to Secured Party is outstanding and unpaid, the provisions ofthe Deed
<br />of Trust of other instrument of security between the Debtor and the Secured Party are controlling as to the Collateral in which Secured
<br />Party is to have a first security interest, including anytime there is a conflict between it and the provisions ofany lien instrument
<br />granted to the Subordinating Creditor by the Debtor.
<br />5. 'Phis Agreement is a continuing, absolute and unconditional agreement ofsuboidination without regard to the validity or
<br />enforceability ofthe Promissory Notes or other instruments of indebtedness between the Debtor and the Secured Party evidencing
<br />sums due or documents granting a security interest in the Collateral, irrespective ofthe time or order of attachment or perfection of the
<br />security interest in the Collateral or the order of filing the Deeds of'I rust or other instruments 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 ofthe sums secured as described in Paragraph 3 are outstanding and unpaid.
<br />7. Tire Subordinating Creditor agrees that the Promissory Notes or other instruments of indebtedness fthe Debtor
<br />evidencing the obligation between the Debtor and the Secured Party may from time to time be renewed, extended, modified,
<br />compromised, accelerated, settled or released, without notice to or consent by the Subordinating Creditor.
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