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1.30187 i 1'a SA
<br />144645
<br />SUBORDINATION AGREEMENT
<br />THIS SUBORDINATION AGREEMENT executed this 2nd day of
<br />February, 1957, executed by ORAL . TAGUE and JOYCE TAGUE, Whose'
<br />mailing address is Route 2, Box 43A, - Manilla, Iowa 51454 ( "Tagues "), to
<br />and for the benefit of COLDOME CREDIT CORPORATION, whose malting
<br />address is Goldome Center, Two Perimeter Park South, P.O. Box 43200;
<br />Birmingham, Alabama 35243 ("Goldome " ) .
<br />WI TN ESSETH
<br />WHEREAS, under date of April 7, 3981, *forth Hills Estates, Inc., a
<br />corporation, secured a loan from Tagues in the original principal sum of
<br />$250,000.00, together with interest thereon, as evidenced by the-
<br />$250,000.00 Promissory Nate of North bills Estates, Inc. to Tagues teact
<br />April 7, 1.981 (the "5258,400.90 Promissory !"totem); and
<br />WHEREAS, the indebtedness evidenced by the $250,060.90 '
<br />Promissory Note is secured by a Real Estate Mortgage dated April 7,
<br />1981; recorded April 10, 1981, as Document No. 8 1- 001 792 of the Records
<br />of hall County; Nebraska, _ executed by North Hills Estates, Inc_,. as
<br />Mortgagor (the *Second Mortgage which constitutes a -lien upon the
<br />following described real estate."
<br />Lots One (1)y Two (2), Three f3L Eire (5) and Six (6);
<br />in Stock Four ( 4) and Lots seven (?} and Eight (B) in Bloch.
<br />Three (3) , - all in Packer 8 &wr's Addition to the City of
<br />Gravid Island, Mall County, Nebraska
<br />(the "Mortgaged Premises "); and
<br />WHEREAS, the 4lortgacyed Premises is presently owned by Barth A_
<br />Otis -and Anthony Wheeter ( "Otis and heeter�); and
<br />WHEREAS, under rate of December 18> 1988. Otis and Wheekar and
<br />the "Tagues entered into a. Lear: Modification Agreement whereby the
<br />repayment terms of the $250,€10€$,00 Promissory Mote were modified; and -
<br />WHEREAS, the Tagues represent that they remain the owners and
<br />holders of the $250.000_00 . Promissory Note and the Secnrid Akirtgage;
<br />and
<br />WHEREAS, .C,otd mae has agreed, conditional upon the execution of
<br />i
<br />this Subordination Agreement, to snake a loan to Otis and Wheeler in the
<br />original principal sum of $1,208,i1Of3.00 in accordance with the terms.
<br />conditions and provisions of the st,?OU,Oe#_00 Promissory Note of
<br />Otis and Wheeler to Gokiome dated January 23, 1987 (the 131,200,000.40
<br />Promissory Mote " }, a copy of which has been provided Tagues and
<br />secured by, among other documents, a Deed of Trust, Security
<br />Agreement and Assignment of Rents ( "Goldome Deed of Trust ") which is
<br />also dated January 23, 3987, a copy of which has also been provided
<br />Tare ; and
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