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<br /> 10 Q.~0 ~ <br /> m <br /> "'" <br /> p c: m '" ~ <br /> :") Z n::t c:::::> o V) <br /> '" r.::;::o C) ~ <br /> ::I: E c ....... C)Q o --1 <br /> ,. ~ r~ el>- f',.) <br />f\.j '"II Z Z--1 <br />S ~ n ~~ = --1fTl 0 1;; <br />S ~ Z 0=:: -<0 <br />CO ~ C) z <br />s I o --rJ <br />(,0 ~ ...,., ..t: --rJz ex> ~ <br />.;.. r :c rn <br />-..J C) <:::> X> co 0 ~ <br /> m ""'lJ <br />.t:o. m ::3 r ;;0 CD :s: <br /> 0 .X> <br /> en (f) 11"1 <br /> ...::: ;::><; -C ~ <br /> 200809474- )> -..l e <br /> C> --- <br /> W en ...L: <br /> Gn. <br /> SUBORDINATION AGREEMENT <br /> <br /> <br /> <br />COMES NOW the City of Grand Island, Nebraska, secured partylbeneficiary and bereby partially <br />subordinates its trust deed/real estate lien recorded October 5, 2007 affecting the following described real <br />estate: <br /> <br />~ <br />L~ <br /> <br />Lot One (1), Platte Valley Industrial Park Sixth Subdivision, in the City of Grand Island, <br />Hall County, Nebraska. <br /> <br />It is the intent of this Agreement that the trust deeds for amounts loaned by Platte Valley State <br />Bank & Trust and Nebraska Economic Development Corporation (''NEDCO'') and/or U.S. Small <br />Business Administration ("SBA") to Zitski, LLC, Nova Tech, Inc., and Gloria J. Thesenvitz <br />(collectively the "Borrowers") that has been or is about to be filed, shall be superior to the trust <br />deed/real estate lien of the City of Grand Island, its successors and assigns recorded October 5, 2007, up <br />to the amount of $9,000,000 plus interest and amounts advanced to protect the collateral Thereafter, the <br />City of Grand Island's lien shall have priority. It is further understood that this subordination shall <br />include all current obligations, extensions, renewals, advances or modifications made by the City of <br />Grand Island, Nebraska to Borrowers which is secured by the trust deed/real estate lien recorded October <br />5, 2007 at Document Number 0200708621 in the records of the Register of Deeds of Hall County, <br />Nebraska. Nothing in this Subordination Agreement is intended as a promise to provide financing or <br />make advances to Borrowers by the City of Grand Island, Nebraska and it is not the intention of the City <br />of Grand Island, Nebraska to warrant or guarantee the obligations of Borrowers but merely to partially <br />subordinate its lien interests under the instrument recorded at Document Number 0200708621. It is <br />understood that Platte Valley State Bank & Trust, NEDCO and SBA intend to lend funds to Borrowers <br />but that the subordinated amount is not to exceed $9,000,000 plus interest and amounts advanced to <br />protect the collateral <br />Nothing in this instrument is intended to relieve Borrowers of their obligation to the City of <br />Grand Island, Nebraska or to subordinate any other lien interests including, but not limited to, real estate <br />taxes and special assessments. <br /> <br />Dated: <br /> <br />Nov. 5' .:lOtJg <br />. <br /> <br />City of Grand Island, Nebraska <br /> <br />BY"n<-<~,.,u~~.,___ <br />Marga t Homa y, Mayor <br /> <br />STATE OF NEBRASKA <br /> <br />) <br />)ss. <br />COUNTY OF HALL ) <br />The foregoing instrument was acknowledged before me on f/olJ'erY\b~ 5 ,20 "t~ <br />Margaret Homady, Mayorofthe City of Grand Island, Nebraska. ~( J <br /> <br />GENfIW. NOTARY. State of Nebraska 1Z MIt ;f <br />CARLA L ENGWND Notary Public <br />My Comm. . May 23. 2012 <br />