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<br />SUBOR (NATION AGREEMENT
<br />THIS AGREEMENT made and executed this .2 -'1 day of J U.Me. 2003, by STATE FARM BANK,
<br />hereinafter referred to as "Subordinating Creditor" (whether one or more), for the ben -.fit of HOME FEDERAL SAV II IGS AN
<br />LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Party ".
<br />W ITNESSETH:
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<br />WHEREAS, RUSSELL D ROPTE and PAMELA J ROPTE, (whether one or more), hereinafter referred to as "Debtor ", has
<br />granted to the Subordinating Creditor a Mortgage or Deed of Trust dated May 9, 2003, and filed in the office of the Hal County
<br />Register of Deeds, on the 30th day of May, 2003, as Document No. 200306838 in respect to that real estate described 2 s:
<br />LOT NINE (9), BLOCK ONE (1), CAPITAL HEIGHTS FOURTH SUBDIVISION, IN HALL COUNTY, N sBRASKA.
<br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain fui ids 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 Collate rat by reason of
<br />Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security wherever and wherever tiled in order to assure the
<br />Secured Party of a 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 of Trust hereinabove described, if any, 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 Coll iteral as
<br />described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original principal amount of °orty Five
<br />Thousan and 00 /100th s Dollars ($45,000.00) reco ded the office of the Hall County Register of Deeds on the ��r! day of
<br />J 2003, as Document No. CC%JU wj L5
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness evidenced b3 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 int,:rest in that
<br />Collateral is, in all respects, subject and subordinate to the security interest ofthe Secured Party to the extent ofthe pria.cipal sum yet
<br />owing to Secured party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocable t. aereto, however
<br />evidenced.
<br />4. So long as any portion of the described obligation to the Secured Party is outstanding and unpaid, the provi :ions of the
<br />Deed of Trust or other instrument of security between the Debtor and the Secured Party are controlling as to the Collate ral 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 />5. This Agreement is a continuing, absolute and unconditional agreement of subordination without regard to t re validity or
<br />enforceability of the Promissory Notes or other instruments of indebtedness between the Debtor and the Secured Party widencing
<br />sums due or documents granting a security interest in the Collateral, irrespective of thc: time or order of attachment or p --rfection of the
<br />security interest in the Collateral or the order of filing the Deeds of Trust or other instruments of security with respect t,) the Collateral.
<br />6. This Agreement shall remain in full force and effect and is binding upon the Subordinating Creditor and up :)n its
<br />successors and assigns, so long as any portion of the sums secured as described in Paragraph 3 are outstanding and unp tid.
<br />7. The Subordinating Creditor and agrees that the Promissory Notes or other instruments of indebtedness oft[ a Debtor
<br />evidencing the obligation between the Debtor and the Secured party may from time to time be renewed, extended, mod fred,
<br />compromised, accelerated, settled or released, without notice to or consent by the Subordinating Creditor.
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