|
<br />Form FHA-NB 465-2
<br />(4-19-67)
<br />
<br />f./11-/1
<br />
<br />I
<br />
<br />UNITED STATES DEPARTHENr OF AGRICULTURE
<br />FARMERS HOME ADMINISTRATION 87- 107189
<br />SUBORDINATION AGREEMEilfi'
<br />
<br />WHEREAS, the Unit~~.States of America, acting through the Farmers Home
<br />Administration (hereinafter called "the Government"), is the owner and holder
<br />of the following-described real estate mortgagees) or deed(s) of trust
<br />(Hereinafter, whether one or more, called "security instrument") covering
<br />certain land in the County of . HALL /, ~tate of Nebraska,
<br />and executed by LARRY E. TEICHMEIER & ~mRY L. lEICH~llilE~
<br />
<br />(hereinafter called lithe Borrower"):
<br />
<br />
<br />Lien Instrument Date of Instrument
<br />Real Estate Mortgage Ap~il 1,1981
<br />
<br />Recorded in Book At Page Number
<br />
<br />Book -Register of Deeds
<br />Docket No. 81-001599
<br />
<br />SE~ NE~; NE~ SE~ All in Section 23, TI2N, RIIW of the 6th
<br />P.M., Hall County, Nebraska
<br />
<br />WHEREAS the Borrower has executed Right-of \"ay & Easement '. ' dated
<br />,
<br />July O~ HUl7 to ATT Communications of ~tidwest,(~ereinafter
<br />called" ranteeu) and has requested that the right, title, and intertN-e of
<br />the Grantee acquired by virtue of saidRight-of-Way,easement be paramount and
<br />superior to the lien of the Government's security instrument:
<br />IDW, THEREFORE, for and in consideration of the payment of $810.00 to
<br />the Government, the receipt whereof is hereby acknowledged, and in further
<br />consideration of the payment of all rents, royalties, bonuses, payments and
<br />delay moneys which may hereafter, from time to time, become due and payable
<br />under the terms of said Righ t-of-way, easement subject to the
<br />rights of prior mortgagees if any, and in further consideration of the other
<br />covenants, conditions and agreements herein contained, the Government does
<br />hereby waive the priority of its security instrument, and agrees that said
<br />Righ t-of-Way, easement shall be superior to said secur.i. ty
<br />instrument.
<br />PROVIDED, HOWEVER, that nothing herein contained shall operate in any way
<br />to release or affect the validity of said security instrument as a lien upon
<br />the real estate covered thereby, or to affect the priority of said lien, except
<br />as herein provided; and
<br />PROVIDED, FURTHER, that in the event all such rents, royalties, bonuses,
<br />payments, or delay moneys be not paid to the Government as hereinbefore pro-
<br />vided, the Government may declare this agreement null and void, in which event
<br />all payments theretofore received by the Government hereunder shall be retained
<br />by the Government, and the rights of all parties in and to the land described
<br />in said security instrument shall be the same as though this agreement had
<br />never been executed.
<br />THIS AGREEMENT shall be binding upon the heirs, successors and assigns of
<br />all parties mentioned herein and shall be and remain in fUll force and effect
<br />(unless sooner terminated as hereinbefore provided) until the rights of the
<br />Government in and to the land described in said sccuri ty instrument shall have
<br />been released of record ap~ the Grantee notified thereof, or until the rights
<br />of the Grantee in and to said real estate shall have been released of record,
<br />whichever shall sooner occur; upon the occurrence of either of which events,
<br />this agreement shall terminate.
<br />
<br />r-
<br />
<br />L
<br />
<br />L
<br />
<br />~
<br />
<br />,
<br />r'
<br />k
<br />
<br />L
<br />
|