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<br />SUBORDINATION AGREEMENT
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<br />TInS AGREEMENT mado and executed this ~ day of April, 2009, by The Federal Home Loan Bank of Topeka
<br />,hereinafter ....fenoed to ... "Subordinating Creditor" (whether one or more), for the benefit of HOME FEDERAL SAVINGS AND
<br />LOAN ASSOCIATION OF ORAND ISLAND, hettJinafter referred to sa "Seeumd Party".
<br />WTINESSETH: .
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<br />WHEREAS, Emily J Hays and , (whether one or more), bereinafter refenoed to IIll "Debtor", has granted to the Subordinating
<br />Creditor a Mortgage or Deed of Trust dated July 17,2007, and filed in the offioe of the Hall County Register of Deeds, on the 18th
<br />day of July, 2007, a, Document No. 20070608~ in mapeet to that real eatate de..ribed 1Ill:
<br />
<br />The West Half (Wl/2) of Lot Twelve (12), of Island Aores, an Addition to the City of Grand Island, Hall County, Nebraska.
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<br />WHEREAS, the Seoured party ha, agreed to enter into a loan transaction with the Debtor, whereby oertain funds are to be
<br />advanced to the Debtor oonditional upon the Debtor providing the Secured Party with a fmt lien in respeet to the above described real
<br />estate, hereinafter....ferred to IIll the "Collateral"; and
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<br />WHEREAS, the Subordinating Cmditor is wiUing to IlIIbordinate any lion It may have in ""peetto the Collateral by reaaon of
<br />Subordinating Creditor's Mortgage or Deed of Trust of record to perfect seourity whenever and wherever filed in order to a,sum the
<br />Secured party of a first lien po,ltion in and to the Collateral;
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<br />NOW, THEREFORE, It I, agreed:
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<br />I. The Subordinating Creditor hereby consents to a subordination of Its priority po,ition to the Secured Party and agrees that
<br />its lien in respect to the Mortgage or Deed ofTru,t hereinabove desenbed, if any, shall at aU times be second8I}' to the extent herein
<br />provided and IlIIbject to the lien of the Seoured Party in ....spect to the Colleteral.
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<br />2. The Subordinsting Creditor hereby oonsents to the Debtor granting Scoured Party a first lien in all the Collateralllll
<br />desoribed above to s= indebtedness to be advanced to Debtor by Seoured Party, in the original principal amount o.f.l$olrtY Five
<br />Thousand & 0011 OOths Dollars ($45,000.00), recorded in the office of the Hall County Register of Deed. on the ~
<br />day of April, 2009, a, Document No. PC() 9 - () 3a (} 3 .
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<br />3. So long IIll an obligation ia outstanding from the Debtor to the Secured Party for indebtedne.. evidenced by Promiasory
<br />Notes or other instruments of indebtedness to the extent hettJin 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 thet Collateral, and the Subordinating Creditor', interest in that
<br />Collaternl is, in all respects, IlIIbject and llIIbordinllte to the seourity interest of the Scoured party to the exleut of the principal sum yet
<br />owi,,!: to Secured party in respect to the indebtednes, described in Paragraph 2 along with interesland oo,ts allocable thereto, however
<br />evidenced.
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<br />4. So long es any portion of the de,cribed obligation to the Secured Party is outstanding Iud unpaid, the provisions ofthe
<br />Deed of Trust or other instrumenl of ,eeurity between the Debtor and the Scoured Party are oontrolling IIllto the Collate...l in whioh
<br />Secured Party is to have a fir,t ,ecurity interest, including any time there is a oonflict between it and the provisions of any lien
<br />instruttlent granted to the Subordinating Creditor by the Debtor.
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<br />5. This Agreement is a continuing, absolute and unconditionollgreement of ,ubordination without regord to the volidity or
<br />enforceobility of the Promi'sory Notes or other insl1'Umenlo of indebtedness between the Deblor and the Secured Party evidencing
<br />,ums due or documents granting a security intere,t in the CoUlterol, irrespective of the time or order of Ittachment or perfeotion of the
<br />,ecurity interest in the Colllteral or the order of filing the Deeds of Trust or other instruments of seourity with respeot to the Collaterol.
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<br />6. This Al:I'CeJUcnt shall relUllin in full force and effect and is bindin~ upon the Subordinating Creditor and upon its
<br />suooessors and Is,igns, '0 long a, any portion of the sums secured a, described in P....graph 3 are outstanding Ind unpaid.
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<br />7. The Subordinating Creditor and agrees thet the Promis.ory Note, or other in,truments of indebtedness of the Debtor
<br />evidencing the obligltion between the Debtor and the Secumd party llIaY from lime to time be renewed, extended, modified,
<br />compromi,ed, ICcelerated, ,eIlled or relea,ed, without notice to or con,ent by the Subordinating Creditor.
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<br />STATE OF KANSAS )
<br />(ss:
<br />COUNTY OF ':nlAWn ec
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<br />rv rlIefore me, a Notary Poblic quolified in said County,personllly oame th ris IAA M I 'f)
<br />1::..._ t'- of The Federal Home Lo8tt Bank ofTopeko, I . known to me to
<br />person who signed the foregoing Subordination Agreement on behalf of suoh entity, and loknowledged the ""eoutio
<br />(his)(her) voluntary aot and deed on behalf of such entity.
<br />
<br />Wimess my haud and Notariol ,eol on this ~day of April, 2009.
<br />
<br />as
<br />e the identicII
<br />thereof to be
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<br />My Commission Ex ires:
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<br />J~-17- !()
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<br />JJuu)V ~
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<br />Notary Publio
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