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THIS AGREEMENT made and executed this 20TII day oflune, 2002, by and between HOME FEDERAL SAVINGS AND
<br />LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor^ (whether one or more), and
<br />HOME FEDERAL SAVINGS AND LOAN ASSOC'.IATION OF GRAND ISI AND, hereinafter referred to as "Secured Party
<br />WITNESSETH:
<br />WHEREAS, BONNIE I BROWN and BARRY D BROWN, (whether one or more), hereinafter ref d to as "Debtor', has
<br />granted to the Subordinating Creditor a Mortgage or Deed of Trust dared April 11, 1996, and filed of record in the office of the Hall
<br />County Register of Deeds, on the 18th day of April, 1996, as Document No. 9 &102885 in respect to that real estate dose bcd as
<br />The Easterly Eight and a Half (E8 1/2) feet of Lot Seven (9) and the Westerly Thirty Nine (W39) fact of Iot Eight (8), in
<br />Block Six (6), of Charles Ww-mer' s Addition to the City of Grand Island, hall County, Nebraska
<br />WHEREAS, the Seeumd Party has agreed to enter into a loan "reaction with the Debtor, whereby certain funds are to be
<br />advanced to the Debtor conditional upon the Debtor providing the Secured Parry with a first lien in respect to the above described real
<br />estate, hereinafter referred to is We "Collateral ", and
<br />WHIIRLAS, the Subordinating Creditor is willing to snhordimate 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 of a first lien position in and to the Collateral,
<br />NOW, IHIALEI ORE, it is agreed:
<br />I the Subordinating Creditor hereby consents to a subordination of it priority position to the Secured Parry and agrees that
<br />its lieu in respect to the Mortgage or Deed of Tmst hereinab evc described, if any, shall at all times be secondary to the extent herein
<br />provided acid subject to the liar of the Secured Party in respect to the Collateral.
<br />2, The Subordinating Creditor hereby consents to the Debtor granting Secured Party a fast 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 Ferry Six
<br />Thousand Seven Hundred and 00,100" Dollars ($46,90000), recorded in the office of the County Register f
<br />Deeds on the Aim day ofe--J�, 2002, as Document No. —
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Puny for indebtedness nit em d by Promissory
<br />Notes or other instmmentS of indebtedness to the extent herein prodded in Paragraph 2, the Secured Party's interest in the Collateral
<br />shall have priority to over the lion of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that
<br />Collateral is, in all mspceta, 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 therein,
<br />however evidenced
<br />4. So long as any portion of the described obligation to Secured Party is outstanding and unpaid, the provisions of the Deed
<br />of Trust of other armament 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 any time there is a conflict between it and the provisions of any lien instNmcm
<br />granted to the Subordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, absolute and unconditional agreement of subordination without regard to the validity or
<br />enfmmeabiliity of the Promissory Notes or other instruments of indebtedness between the Delnor and The Secured Party evidencing
<br />ms duo or documents granting a security interest in the Collateral, irrespective of the time or rder of attachment 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 fill force and effect and is binding upon the Subordinating Creditor and upon its
<br />successors and assigns, so long as any portion of the sums secured as described in Paragraph 3 are outstanding and unpaid.
<br />Z the Subordinating Creditor agrees that the Promissory Notes or otter instruments of indebtedness of the Debtor
<br />evidencing the obligation between the Debtor and the Securer) Party may from time to time he nerevod, extended, modified,
<br />compromised, accelerated, settled or released, without notice to or consent by the Subordinating (kemon,
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<br />THIS AGREEMENT made and executed this 20TII day oflune, 2002, by and between HOME FEDERAL SAVINGS AND
<br />LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor^ (whether one or more), and
<br />HOME FEDERAL SAVINGS AND LOAN ASSOC'.IATION OF GRAND ISI AND, hereinafter referred to as "Secured Party
<br />WITNESSETH:
<br />WHEREAS, BONNIE I BROWN and BARRY D BROWN, (whether one or more), hereinafter ref d to as "Debtor', has
<br />granted to the Subordinating Creditor a Mortgage or Deed of Trust dared April 11, 1996, and filed of record in the office of the Hall
<br />County Register of Deeds, on the 18th day of April, 1996, as Document No. 9 &102885 in respect to that real estate dose bcd as
<br />The Easterly Eight and a Half (E8 1/2) feet of Lot Seven (9) and the Westerly Thirty Nine (W39) fact of Iot Eight (8), in
<br />Block Six (6), of Charles Ww-mer' s Addition to the City of Grand Island, hall County, Nebraska
<br />WHEREAS, the Seeumd Party has agreed to enter into a loan "reaction with the Debtor, whereby certain funds are to be
<br />advanced to the Debtor conditional upon the Debtor providing the Secured Parry with a first lien in respect to the above described real
<br />estate, hereinafter referred to is We "Collateral ", and
<br />WHIIRLAS, the Subordinating Creditor is willing to snhordimate 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 of a first lien position in and to the Collateral,
<br />NOW, IHIALEI ORE, it is agreed:
<br />I the Subordinating Creditor hereby consents to a subordination of it priority position to the Secured Parry and agrees that
<br />its lieu in respect to the Mortgage or Deed of Tmst hereinab evc described, if any, shall at all times be secondary to the extent herein
<br />provided acid subject to the liar of the Secured Party in respect to the Collateral.
<br />2, The Subordinating Creditor hereby consents to the Debtor granting Secured Party a fast 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 Ferry Six
<br />Thousand Seven Hundred and 00,100" Dollars ($46,90000), recorded in the office of the County Register f
<br />Deeds on the Aim day ofe--J�, 2002, as Document No. —
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Puny for indebtedness nit em d by Promissory
<br />Notes or other instmmentS of indebtedness to the extent herein prodded in Paragraph 2, the Secured Party's interest in the Collateral
<br />shall have priority to over the lion of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that
<br />Collateral is, in all mspceta, 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 therein,
<br />however evidenced
<br />4. So long as any portion of the described obligation to Secured Party is outstanding and unpaid, the provisions of the Deed
<br />of Trust of other armament 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 any time there is a conflict between it and the provisions of any lien instNmcm
<br />granted to the Subordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, absolute and unconditional agreement of subordination without regard to the validity or
<br />enfmmeabiliity of the Promissory Notes or other instruments of indebtedness between the Delnor and The Secured Party evidencing
<br />ms duo or documents granting a security interest in the Collateral, irrespective of the time or rder of attachment 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 fill force and effect and is binding upon the Subordinating Creditor and upon its
<br />successors and assigns, so long as any portion of the sums secured as described in Paragraph 3 are outstanding and unpaid.
<br />Z the Subordinating Creditor agrees that the Promissory Notes or otter instruments of indebtedness of the Debtor
<br />evidencing the obligation between the Debtor and the Securer) Party may from time to time he nerevod, extended, modified,
<br />compromised, accelerated, settled or released, without notice to or consent by the Subordinating (kemon,
<br />
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