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<br />(---''/t) , 50
<br />
<br />THIS AGREEMENT made and executed this 29th day of August ,2008, by FIVE POINTS BANK ,
<br />hereinafter referred to as "Subordinating Creditor" (whether one or more), for the benefit of HOME FEDERAL SAVINGS AND
<br />LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Party".
<br />WITNESSETH:
<br />
<br />SUBORDINATION AGREEMENT
<br />
<br />200807648
<br />
<br />WHEREAS, Jeffrey L Roby and Angela L Roby, (whether one or more), hereinafter referred to as "Debtor", has granted to
<br />the Subordinating Creditor a Mortgage or Deed of Trust dated March 12,2002, and filed in the office of the Hall County Register of
<br />Deeds, on the 6th day of May, 2002, as Document No. 200204837, in respect to that real estate described as:
<br />
<br />Lot Thirty Nine (39), Castle Estate Subdivision, in the City of Grand Island, Hall County, Nebraska.
<br />
<br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain funds are to be
<br />advanced to the Debtor conditional upon the Debtor providing the Secured Party with a first lien in respect to the above described real
<br />estate, hereinafter referred to as the "Collateral"; and
<br />
<br />WHEREAS, the Subordinating Creditor is willing to subordinate 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 />
<br />NOW, THEREFORE, it is agreed:
<br />
<br />1. The Subordinating Creditor hereby consents to a subordination of its priority position to the Secured Party and agrees that
<br />its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all times be secondary to the extent herein
<br />provided and subject to the lien of the Secured Party in respect to the Collateral.
<br />
<br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first 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 One Hundred
<br />Forty Two Thousand Eight Hundred and OO/IOOths Dollars ($142,800.00), recorded in the office of the Hall County Register of Deeds
<br />on the 4't.. day of Jtp+~be(' iJ't/l.., as Document No. ~-67(d-/7 .
<br />
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness evidenced by Promissory
<br />Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured Party's interest in the Collateral
<br />shall have priority to over the lien of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that
<br />Collateral is, in all respects, 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 thereto, however
<br />evidenced.
<br />
<br />4. So long as any portion of the" described obligation' to the Secured Party is outstanding and unpaid, the provisions of the
<br />Deed of Trust or other instrument of security between the Debtor and the Secured Party are controlling as to the Collateral in which
<br />Secured party is to have a fiwsecurity interest, including anytime there is a conflict between it and the provisions of any lien
<br />instrument granted to the Subordinating Creditor by the Debtor.
<br />
<br />5. This Agreement is a continuing, absolute and unconditional agreement of subordination without regard to the validity or
<br />enforceability of the Promissory Notes or other instruments of indebtedness between the Debtor and the Secured Party evidencing
<br />sums due or documents granting a security interest in the Collateral, irrespective of the time or order 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 />
<br />6. This Agreement shall remain infull force and effect and is binding upon the Sl.!.bordinating C~e~ito~and l!Ponj!s
<br />. -_.- successors and asslgnS;-so long lis anY-portion- of the sums' i;-ecured-as -i:J.escnbedln-Paragraph 3 are outstanding and unpaid.
<br />
<br />7. The Subordinating Creditor and agrees that the Promissory Notes or other instruments of indebtedness of the Debtor
<br />evidencing the obligation between the Debtor and the Secured party may from time to time be renewed, extended, modified,
<br />compromised, accelerated, settled or released, without notice to or consent by the Subordinating Creditor.
<br />
<br />By:
<br />
<br />
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