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<br />Exhibit B <br /> <br />~UBORDIN^TtON AGREEMENT <br /> <br />200702101 <br /> <br />KNOW ALL MEN BY THESE PRESENTS: That Mark Schuele and Phyllis <br />Schuele for valuable consid~rutl0n, the receipt of which Is hereby acknowledged <br />do hereby subordinate to the mortguge referred to hereinafter their interest In that <br />certain lease between Mark Schuele and Phyllis Schuele (hereinafter "LESSOR") <br />and Mid- Nebraska Quality Foods, {nc., (hereinafter" LESSEE ,,) dated <br />1977, pertaining to the following described property: <br /> <br />Situate in the City of Grand (sland, in the County of Hail. In the <br />State of Nebraska and being described as follows: <br /> <br />A tract of land located in the Southeast Quarter of the Southeast <br />Quarter (SEl/4SE1/4) of Section Twenty-One (21) township Eleven (1I) <br />North, Range Nine (9) West of the 6th P. M. In Hall County, Nebraska, <br />more particularly described as follows: <br />Beginning at a point Seven Hundred Seven and Five-tt'lnths (707.5) <br />feet South of the Southeast corner of Pleasant Home Subdivision, said <br />point being Thirty-three (33.0) feet West of the East line of said Section <br />Twenty-One (21); thence Wester1~' parallel to the South Une of said Pleasant <br />Home Subdivision a distance of Two Hundred Sixty-One (261.0); thence <br />southerly parallel to the East line of said Section Twenty-One (21), a dis- <br />tance of One Hundred Thirty-four (134.0) feet; thence Easterly parallel <br />to the South line of said Pleasant Home Subdivision, a distance of Two <br />Hundred Sixty-One (261.0) feet; thence Northerly parallel to the East line <br />of said Section twenty-One (21), a distance of One Hundred Thirty-Four <br />(134.0) feet, to the place of beginning, and containing 0.71 acres. more <br />or less. <br /> <br />The mortgage to which said LESSOR subordinates hereby is that certain <br />mortgage from Mid-Nebraska Quality Foods, Inc.. as mortgagor, to the First <br />National Bank of Grand Island, Nebraska, as mortgagee, dated . , 1977. <br />and filed and recorded as follows: <br /> <br />The express purpose of such subordination shall be to enable said <br />mortgagee to fully exercise its rights in accordance with the terms of said mortgage, <br />provided however, that under no circumstances whatsoever shall this subordination <br />be construed so as to allow said mortgagee to deprive LESSOR of his ownership of <br />the underlying fee by judicial action or otherwise, unless payment is made by said <br />mortgagee to said LESSOR under the terms and of an amount determined as set forth <br />hereinafter, <br />In the event of default by the LESSEE in the performance of its obli- <br />gations pursuant to the provisions of said mortgage on the building, LESSOR hereby <br />gives the right to the mortgagee to purchase the land for "fair market value". If a <br />voluntary agreement betwet'ln the LESSOR and said mortgagee as to the "fair market <br />value" cannot be arrived at, three appraisers shall be selected to determine said <br />".fair market value" of the land. One appraiser is to be chosen by the LESSOR. one <br />by the mortgagee, and these two appraiser:; are then to choose a third appraiser. <br />The cost of the appraisers shall be shared equally by the parties - If LESSOR is not <br />satisfied with the "fair market ,-alue" a~ '1ftermined by said appraisers, LESSOR <br />shall have the first option to pay off the~ortgage 0" said building, and mortgagee <br />shall assign all its right. title and Interest in and to said building to LESSOR- <br /> <br />IN WITNESS WHEREOF, the said Mark Schuele and Phyllis Schuele <br />have hereunto set their hands and seals on the day of . 1977. <br /> <br />Signed in the presence of: <br /> <br />-. .-.. ---~~-- <br /> <br />Mark Schuele <br /> <br />Phyllis Schuele <br /> <br />(J\'-~ <br /> <br />rf-7 r <br />../ <br />