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200211583 <br />interest in that Collateral is, in all respects, subject and subordinate to the security interest of the <br />Secured Party to the extent of the principal sum yet owning to Secured Party in respect to the <br />indebtedness described in Paragraph 2 along with interest and costs allocable thereto, however <br />evidenced. <br />4. So long as any portion of the described obligation to the Secured Party is <br />outstanding and unpaid, the providions of the Deed of trust or other instrument of security <br />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 <br />provisions of any lien instrument granted to the Subordinating Creditor by the Debtor. <br />5. This Agreement is a continuing, absolute and unconditional agreement of <br />subordiantion without regard to the validity or enforceability of the Promissory Notes or other <br />instruments of indebtedness between the Debtor and the Secured Party evidencing sums due or <br />documents granting a security interest in the Collateral, irrespective of the time or order of <br />attachmentor perfection of the security interest in the Collateral or the order of filing the Deeds of <br />Trust or other instruments of security with respect to the Collateral. <br />6. This Agreement shall remain in full force and effect and s binding upon the <br />Subordinating Creditor and upon its successors and assigns, so long as any portion of the sums <br />secured as described in Paragraph 3 are outstanding and unpaid. <br />7. The Subordinating Creditor agrees that the Promissory notes or other instruments <br />of indebtedness of the Debtor evidencing the obiligation between the Debtor and the Secured <br />Party may from time to time be renewed, extended, modified, compromised, accelerated, settled <br />or released, without notice to or consent by the Subordinating Creditor. <br />Jam //s��S. Reed, "Subord a t Creditor" <br />Precious A. Reed, "Subordmahng Creditor' <br />STATE OF NEBRASKA) <br />(ss: <br />COUNTY OF HALL ) <br />Before me, a Notary Public qualified in said County, personally came James S. Reed and <br />Precious A. Reed, Husband and Wife known to me to be the identical people who signed the <br />foregoing Subordiantion Agreement on behalf of such entity, and acknowledged the execution <br />thereof to be their voluntary act and deed on behalf of such entity. <br />Witness my hand and notarial seal on this �6ft day of ) mil✓✓/ 2002. <br />Notary Public <br />My Commission Expires: GExE116l MOTngY•snlea6ehraslm <br />My km &p. Marti, t, 2006 <br />