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<br />SIIBORDINATION AGREEMENT
<br />KNOW ALL MEN BY THESE PRESENTS:
<br />,~
<br />WHEREAS, the undersigned, First Savings Company, Grand Island,.
<br />Nebraska, is now the owner and holder of a certain promissory note
<br />and security agreement dated June 13, 1978, such note being secured
<br />by a real estate mortgage on the following described real estate,
<br />to-wit:
<br />Lot Eleven (11) in Block Five (5) in Morris Fourth
<br />Addition, an Addition to the City of Grand Island,
<br />Hall County, Nebraska,
<br />which note was duly made, executed, and delivered to the undersigned,
<br />First Savings Company, Grand Island, Nebraska, by Harold E. Vollmer
<br />and JoAnn K. Vollmer, husband and wife, and Dennis A. Lilienthal
<br />and Jana K. Lilienthal, husband and wife, and the real estate
<br />mortgage was duly made, executed, and delivered to the undersigned,
<br />First Savings Company, by Harold E. Vollmer and JoAnn K. Vollmer,
<br />husband and wife, hereinafter referred to as Mortgagors, and such
<br />mortgage was duly filed and recorded in the Office of the Register
<br />of Deeds of Ha11 County, Nebraska, being recorded as document
<br />rnimber 78-003862; and _
<br />WHEREAS, such Mortgagors desire to (sorrow from The First
<br />National Bank of Grand Island, Grand Island, Nebraska, in order
<br />to pay off a mortgage to Equitable Building and Loan Association
<br />of Grand Island, Nebraska, which mortgage was a prior mortgage
<br />to the mortgage heretofore given to First Savings Company, Grand
<br />Island, Nehraska, referred to above and The First National Bank
<br />of Grand island, Grand Island, Nebraska, has agreed to loan the
<br />swn of Twenty Five Thousand Dollars ($2 ,000.00) to Harold E. Vollmer
<br />and JoAnn R. Vollmer, husband and wife, PROVIDING tHA'r First Savings
<br />Company, Grand Island, Nebraska, executes a Subordination Agreement
<br />subordinating its real estate rrx~rtgage heretofore described herein
<br />to the mortgage Co ?he First National Bank of Grand Island, Grand
<br />Island, Nebraska.
<br />NOW, THEREFORE, in consideration of the sum of One Dollar
<br />(61.00} and the Lending to the Mortgagors by the First National
<br />Bank of Grand Island, Grand Island, Nebraska, a sum of money for
<br />the purposes of paying off the mortgage to Equitable Bui1 ding and
<br />Loan Association of Crand Island recorded in Book 145 of Mortgage.
<br />Records at Page 143 of the records of the Register of Deeds of
<br />Hall County, Nebraska, the undersigned First Savings Company,
<br />Grand Island, Nebraska, hereby acknowledges and agrees that the said
<br />mortgage to The First National Bank of Grand t:sland, Grand Island,
<br />Nebraska, in the princLpal amount of I\,ranty Five 'Phousand Dollara
<br />($25,000.00) as document no. 80-001881 in the Office of the Register
<br />Deeds of Hall County, Nebraska, is, and shall be, a first rn~rtgage
<br />lien on the real property hereint?efore described and Che interest
<br />which the undersigned has in and to such real estate by virtue of
<br />Its mortgage recorded as document no. 78-003862 in the Recoriis of
<br />the Register of Deeds of Hail County, Nebraska, be subordinate and
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