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�� <br />�� <br />N � <br />� �� <br />� .�.� <br />� �^ <br />� � <br />� <br />N � <br />� �^ <br />(Sa <br />�.^ <br />�� <br />� <br />� <br />O � <br />� �i <br />rl � <br />�� C <br />M <br />� � <br />� � <br />� <br />A <br />h � <br />7C = <br />� <br />m <br />� <br />C <br />� <br />� <br />m� <br />A y <br />� <br />V <br />SUBORDINATION AGREEMENT <br />�. <br />r- . <br />-x, '�>��` <br />�; �_.., <br />Y_ <.. <br />, , r <br />`•+. <br />�� �-t� <br />�.�, � .. <br />rn <br />c-� <br />cn <br />�: <br />�� <br />t--� <br />c-a <br />� <br />CJ'1 <br />� <br />� <br />1--� <br />N <br />G-7 <br />C.C? <br />c� c,�� <br />o --� <br />� � <br />� <br />_.� r <br />--� �.-� <br />�a � <br />-rry ...,� <br />. :�.: f'r <br />f I i <br />r �� <br />�° :z <br />u� <br />x <br />ry <br />cn <br />� <br />THiS AGREEMENT made and executed this �.�� day of /�/o✓erd� ,2Q10, by <br />Five Points Bank, hereinaf�er referred to as "Subordinating Creditor" (whether one or <br />more), for the benefit of HOME FEDERAL SAVINGS AND LOAN ASSOCIATION <br />Of� GRAND ISLAND, hereinafter referred to as "Secured Party". <br />WITNESSETH: <br />WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may <br />have in respe�t ta the Collateral by reason of Subordinating Creditor's Mortgage or Deed <br />of Trust of recard to perfect security whenever and wherever filed in order to assure the <br />Secured Party of a tirst lien positiort in and to the Collateral; <br />NOW, THEREFORE, it is agreed: <br />1. The Subardinating Creditor hereby consents to a subardinatian af its <br />priority positian to the Secured Party and agrees that its lien in respect to the Mortgage or <br />Deed of Trust herernabov� described, if any, shall at a11 trmes be secondary to the extent <br />hereitt pr�vided and subject ta the lien of the Secured Party in respect to the Collateral. <br />2. The Subordinating Creditor hereby consents to the Debtar granting <br />Secured Party a�'irst lien in all the Collatezal as described above to secure indebtedness to <br />be advanced to Debtor by Secured Party, in the principal ainount not to exceed Seventy <br />Five Th�usand Dollars ($�5,000.00). <br />3. So long as an obligation is outstanding from Debtor to the Secured Party <br />for indebtedness evidenced by Promissory Notes or other instruinents of indebtedness to <br />the extent herein provided in Paragraph 2, the Secured Party's interest in the Collateral <br />shall have priority over the lien of the Subordinating Creditar in that collateral, and the <br />Subordinating Creditor's interest in that Collateral is, in all respects, subject and <br />subordinate to the security interest af the Secured Party to the extent of the prii�cipal sum <br />yet owning to Secur�d Party in respect to the indebtedness described in Paragraph 2 along <br />with interest and casts allocable thexeto, however evidenced. <br />WHEREAS, Erin M. and Dena K. Sullivan, (whether one or more), hereinafter <br />referred to as "Debtor", has granted to the Subordinating Creditor a Deed of Trust dated <br />March 5, 2009, and filed May 4, 2U09, in the office of the Hall County Register af Deeds, <br />as docume�t no. 0200903350 in respect t� that real estate described as: <br />Lot Twelve (12), W�stwood Park Sixth Subdivision, in the City of Grand Island, Hall <br />County, Nebraska. <br />WHEREAS, the Secured Party has agreed to enter into a loan transactian with the <br />Debtor, whereby c�rtain funds are to be advanc�d to the Debtor conditional upon the <br />- - Debta��e�a�d��g �he ��uied P�y with-a �rst ���n ir� res�ect to �lie abowe c�escrit;�i real <br />estate, hereinafter referred to as the "Collateral"; and <br />� <br />N <br />c� <br />w <br />C�] <br />� <br />C1_� <br />N <br />cf.1 <br />GL7 <br />� <br />r1'1 <br />� <br />m <br />v <br />A <br />C17 <br />Z <br />� <br />�7 <br />� <br />� <br />F'il <br />� <br />a <br />� .Sa <br />