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�� �� �� �� m �� ^ S � � �� � �� � � N � rn �^ �� �^ .��r �� � � � 7Cr C � A v � � � � � 1 A � 7�► � �7 d � c_-� C) � r.l;�.. F� - x, <� • ,� �� }�. � �; � <. �� r� � � �. r C7 � (� ,� � � c� � � v: � � � � C7 CJ� � � Q --- C � � � -�-� �� 77 -� �°' F-�► O -7 �" � � �j. C�7 �� r � � -^�-1 [n � C - J w r" m � � � �' 2 O — . . SUBORDINATIn�I AGREEMENT � THI�..AG�EE1vIE1�T'T made °and executed this �,�'�` day af November, 2010, by and between HOME FEDERAL � SAVINGS AI� LOAN ASSOCIATION OP GRAND ISLAND, hereinafter referred to as "5ubordinating Creditor" (whether one or �c rnore), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION �F GRANll ISLAND, hereinafter referred to as "Secured � Party�'. WITNESSETH: WHEREAS, Jeffrey L Greer and Melody G Greer, (whether one or more), hereinafter refened to as "Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated October 21, 2010, and filed of record in the of�ice of the Hall County Register of Deeds, on the 5'�' day of November, 2010, as Document No. 0201008238 in respect to that real estate described as: Lot One (1), Billy Poe Subdivision, Hall County, Nebraska. WH�REAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain funds are to be advanced to the Debtor conditional upon the Debtor providing the Secured Party with a fust lien in respect to the above described real estate, hereinafter referred to as the "Collateral"; and WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the Collateral by reason of Subordinating Creditar's Mortgage or Deed of Trust of record to perfect security whenever and wherever filed in order to assure the Secured Farty of a first lien position in and to the Collateral; NOW, THEREFORE, it is agreed: 1. The Subordinating Creditor hereby consents to a subardination of its priarity position to the Secured Party and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all tiznes be secondary to the extent herein provided and subject to tb.e lien of the Secured Party in respect to the Collateral. 2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in all the Collateral as described above to secure indebtedness to be advanced to Debtor by Secured 1'arty, in the original principal amo�nt of Fifty Thousand and 00/100ths Dollars ($50,000.00), recorded in the office of the Hall County Register of Deeds on the �� day af November, 2010, as Document No. a?o/O�S�3 . 3. So long as an obligation is outst�nding from the Debtor to the Secured Party for indebtedness evidenced by Promissory Notes or other instruments of indebtedness to the extent herein provided in Pazagraph 2, the Secured Party's interest in the Collateral shall have priority to over the lien of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that Collateral is, in all respects, subject and subordinate to the security interest of the Secured Party to the extent of the principal sum yet owing to Secured Party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocable thereto, however evidenced. 4. So long as any portion of the described abligation to Secured Party is outstanding and unpaid, the provisions of the Deed of Trust of other instniment of security between the Debtor and the Secured Party are controlling as to the Collateral in which Secured Party is to have a first secuxity interest, including any t'vne there is a conflict between it and the provisions of any lien instrument granted to the Subordinating Creditor by the Debtor. 5. This Agreement is a continuing, absolute and uncondidonal agreement of subordination without regard to the validity or enforceability of the Promissory Notes or other insWments of indebtedness between the DebtC�r��4 t�k �epti�i �a�y evidencing sums due or documents granting a securiry interest in the Callateral, irrespective of the time ar order of attachment or perfection of the security interest in the Collataral or the order af filing the Deeds of Trust or other instruments of security with respect to the Collateral. 6. This Agreement shall remain in full farce and effect and is bir►ding upon the Subordinating Creditor atid upon its