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200410988 Subordinating Lender declares, agrees and acknowledges that (a) It consents to and approves (i) all provisions of the note and Second Security Instrument in favor of Lender above referred to, and (ii) all agreements, including but not limited to any loan or escrow agreements, between Borrower and Lender for the disbursement of the proceeds of the Second Loan: (b) Lender making disbursements pursuant to any such.agreement is under no obligation or duty to, nor has Lender represented that it will, see to the application of such proceeds by the person or persons to whom Lender disburses such proceeds and any application or use of such proceeds for purposes other than those provided for in such agreement or agreements shall not defeat the subordination herein made in whole or in part; and (c) It intentionally and unconditionally waives, relinquishes and subordinates the lien of the First Security Instrument in favor of the lien or charge upon said land of the Second Security Instrument and understands that in reliance upon, and in consideration of, this waiver, relinquish and subordinate specific loans and advances are being and will be made and, as part and parcel thereof, specific monetary and other obligations are being and will be entered into which would not be made or entered into but for said reliance upon this waiver, relinquishment and subordination. NOTICE: THIS ORDINATION AGREEMENT CONTAINS A PROVI §ION WHICH ALLOWS THE PERSON OBLIGATED ON YOUR REAL PROPERTY SECURITY TO OBTAIN A LOAN A PORTION OF WHICH MAY BE EXPENDED FOR OTHER PURPOSES THAN IMPROVEMENT OF THE LAND. i NOTARY SRAI, AND FORM) State of Nebraska ) SS. County of Hall ) The foregoing document was executed before me on October 26, 2004, by Jay Vavricek, Mayor of the City of Grand Island, Nebraska. 6ENEAAt NOTARY • State of Nebrask9 RANAE EDWARDS My Comm. Fxp. Dm 2% 2006 • Subordination Agreement 1.742-XX (12101) � ffiv N �A-- - N - t