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�� <br />�� <br />� � <br />� �� <br />� �� <br />� �� <br />� �� <br />W <br />v r�+� <br />�^ <br />�� <br />rr�w <br />��� <br />�� <br />� � �.. <br />r� <br />� <br />W <br />C/) <br />� <br />� <br />� <br />� <br />c <br />=nv <br />n � � <br />7C = <br />� <br />n� <br />� <br />Q <br />Q <br />TION AGREEM NT <br />m <br />� � ��...; �-� �; c� <br />s c, —, <br />__ G- xr � � <br />:. �. �^� � __, <br />.. � h. y'\ � � � � � <br />� T� � ,{� �^C � /A <br />c � _ �� a -, � ►�-'� � <br /><y� t- � �, �, � � <br />� ,, � �.{ <br />c.� � ��;:. y r.� � 7] <br />� r, r� � i .�. -:z� C <br />r-; � r �'" i CX7 � <br />r� <br />� � � �' � «r'f <br />%� C„,.] <br />tv � -`"� O <br />THIS AGREEMENT made and executed this 21st day of October, 2010, by and between HOME FEDERAI, SAVINGS �", <br />AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and {-�; � <br />HOME FBDERAI, SAVINGS AND LOAN AS50CIATION OF GRAND ISLAND, hereinafter refenred to as "Secured Party". �� <br />WITNES�E'�H: � <br />WH�REAS,, Scott J Roach and Stephanie J Roach, (whether onc or more), hereznafter referred to as "Debtor", has granted to <br />the Subordinating Creditor a Mortgage or Deed of Trust dated June 15, 2010, and filed of record in the office of the Ha11 County <br />Register of Deeds, on the 14th day of July, 2010, as Document No. 2p 1004839 in respect to that real estate described as: <br />Lot (1), Hoffman Second Subdivision in the Village af Doniphan, Hall County, Nebraska <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 />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 />NOW, THEREFORE, it is agreed: <br />1. The Subordinating Creditor hereby consents to a subordination of its priority positian 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 Iien of the Secured Party in respect to the Collateral. <br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in a11 the Collateral as <br />described above to secure indebtedxaess to be advanced to Debtor by Secured Party, in the original principal amount of One Hundred <br />Ninety Two Thousand and 00/100ths Dollars ($192,000.00), recorded in the office of the Hall Courity Register of Deeds on tha <br />�_ day of October, 2010, as Document No. �/d- <br />3. So lan� as an obligation is outstanding from the Debtor to the Secured Pariy for indebtedness evidenced by Pramissory <br />Notes or other instniments of indebtedness to the extent herein provided in Paragraph 2, the Secured Party's interest in the Collateral <br />shall have priarity 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 af the Secured Party to the extent of the principal sum yet <br />owing to Secured Pariy in respect to the indebtedness described in Paxagraph 2 along with interest and casts allocable thereto, <br />however evidenced. <br />4. So long as any portion of the described obligation to Secured Party is outstanding and unpaid, the provisions of the Deed <br />of Tarust of other instrument of security between the Debtor and the Secured Party are controlling as to the Collateral in which Secured <br />Party is to have a first security interest, including any time tbere is a conflict between it and the provisions of any lien instrument <br />granted to the Subordinatang Creditor by the Debtor. <br />5. This Agrecment is a continuing, absolute and unconditional agreement of subordination without regard to the validity ar <br />enforceability of the Promissory Notes or other instrtunents of indebtedness betweeT.�t� �a�tQ�:�I���Sbcured Party cvidencing <br />sums due or docurnents granting a security interest in the Collateral, irrespective of the time or order ot� attachment or perfection of the <br />security interest in the Collateral or the order of filing the Deeds of'I'rust or other instruments of security with respect to the Collateral. <br />6. This Agreennent shall remain in full force and effect and is binding upon the Subordinating Creditor and upon its <br />successors and assigns, so long as any portian of the sums secured as described in Paragraph 3 are outstanding and unpaid. <br />