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<br />THIS AGREEMENT made and executed this day of January, 2003, by FIVE POINTS BANK, hereinafter referred to as
<br />"Subordinating Creditor' (whether one or more), for the beirefit of HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />GRAND ISLAND, hereinafter referred to as "Secured Party ".
<br />WITNESSETH:
<br />WHEREAS, JAMES 1 WOHLERS and JANENE R WOHLERS, (whether one or more), hereinafter referred to as "Debtor ",
<br />has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated March 16, 2001, and filed in the office of the Hall
<br />County Register of Deeds, on the 23rtl day of March, 2001, as Document No. 200102326, in respect to that real estate described as
<br />LOT SEVEN ( 7) AND THE WESTERLY ONE -HALF OF LOT FIGHT (8), ALL IN BLOCK THIRTEEN (13) IN
<br />CHARLES WASMER'S ADDITION TO THE CITY OF GRAND ISLAND, 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 hr 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] rust ofrecord to perfect security whenever and wherever filed in order to assure the
<br />Secured Party of a first lien position in and to are Collateral;
<br />NOW, THEREFORE, it is agreed:
<br />I. 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 of Trust hereinabove described, if any, shall at all times be secondary to the extent herein
<br />provided and subject to the lien of the Secured Party in respect to the Collateral.
<br />2. The Subordinating Creditor hereby consents to die 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 SEVENTY
<br />THOUSAND DOLLARS AND NO /00 Dollars ($70,000.00), recorded in the office ofthe HALL County Register of Deeds on die
<br />fir\ _day of vicsrxear7 , 2001, as Document No. 9CO.J- tY344,h
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness 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 of the 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 sun yet
<br />owing to Secured party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocahle thereto, however
<br />evidenced.
<br />4. So long as any portion of die described obligation to We Secured Party is outstanding and unpaid, the provisions of the
<br />Deed of'I'rust or other instrument of security between the Debtor and the Secured Party are controlling as to the Collateral in which
<br />Secured Party is to have a first security interest, including any time there is a conflict between it and the provisions of any lien
<br />instrument granted to the Subordinating Creditor by the Debtor.
<br />i. This Agreement is a continuing, absolute and unconditional agreement of subordination without regard to the validity or
<br />enforceability ofthe Promissory Notes or odder 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 attuchnnent or perfection of the
<br />security interest in the Collateral or the order of filing the Deeds of Trust 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 nfthe sums secured as described in Paragraph 3 are outstanding and unpaid.
<br />7. 'the Subordinating Creditor and agrees that the Promissory Notes or other instruments of indebtedness of the Debtor
<br />evidencing the obligation between the Debtor and the Secured party may from time to time he renewed, extended, modified,
<br />compromised, accelerated, settled or released, without notice to or consent by the Subordinating Creditor.
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<br />AGREEMENT
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<br />THIS AGREEMENT made and executed this day of January, 2003, by FIVE POINTS BANK, hereinafter referred to as
<br />"Subordinating Creditor' (whether one or more), for the beirefit of HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF
<br />GRAND ISLAND, hereinafter referred to as "Secured Party ".
<br />WITNESSETH:
<br />WHEREAS, JAMES 1 WOHLERS and JANENE R WOHLERS, (whether one or more), hereinafter referred to as "Debtor ",
<br />has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated March 16, 2001, and filed in the office of the Hall
<br />County Register of Deeds, on the 23rtl day of March, 2001, as Document No. 200102326, in respect to that real estate described as
<br />LOT SEVEN ( 7) AND THE WESTERLY ONE -HALF OF LOT FIGHT (8), ALL IN BLOCK THIRTEEN (13) IN
<br />CHARLES WASMER'S ADDITION TO THE CITY OF GRAND ISLAND, 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 hr 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] rust ofrecord to perfect security whenever and wherever filed in order to assure the
<br />Secured Party of a first lien position in and to are Collateral;
<br />NOW, THEREFORE, it is agreed:
<br />I. 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 of Trust hereinabove described, if any, shall at all times be secondary to the extent herein
<br />provided and subject to the lien of the Secured Party in respect to the Collateral.
<br />2. The Subordinating Creditor hereby consents to die 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 SEVENTY
<br />THOUSAND DOLLARS AND NO /00 Dollars ($70,000.00), recorded in the office ofthe HALL County Register of Deeds on die
<br />fir\ _day of vicsrxear7 , 2001, as Document No. 9CO.J- tY344,h
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness 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 of the 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 sun yet
<br />owing to Secured party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocahle thereto, however
<br />evidenced.
<br />4. So long as any portion of die described obligation to We Secured Party is outstanding and unpaid, the provisions of the
<br />Deed of'I'rust or other instrument of security between the Debtor and the Secured Party are controlling as to the Collateral in which
<br />Secured Party is to have a first security interest, including any time there is a conflict between it and the provisions of any lien
<br />instrument granted to the Subordinating Creditor by the Debtor.
<br />i. This Agreement is a continuing, absolute and unconditional agreement of subordination without regard to the validity or
<br />enforceability ofthe Promissory Notes or odder 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 attuchnnent or perfection of the
<br />security interest in the Collateral or the order of filing the Deeds of Trust 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 nfthe sums secured as described in Paragraph 3 are outstanding and unpaid.
<br />7. 'the Subordinating Creditor and agrees that the Promissory Notes or other instruments of indebtedness of the Debtor
<br />evidencing the obligation between the Debtor and the Secured party may from time to time he renewed, extended, modified,
<br />compromised, accelerated, settled or released, without notice to or consent by the Subordinating Creditor.
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