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<br />THIS AGREEMENT made and executed this 9th day of November, 201p, by and between H�ME FEDERAI, SAVINGS �,�
<br />AND LOAN A5SOCIATION OF GR.AND ISLANU, hereinafter referred to as "Subordinating Creditor" (whether one or more), and �'�.,,
<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRANU I5LAND, hereinafter referred to as "Secured Party".
<br />WTTNESSETH:
<br />WHEREAS, Christopher L Kaskie and Mary A Kaskie, (whether one or tnore), hereinafter referred to as "Debtor", has
<br />granted to the Subordinating Creditor a Mortgage or Deed of Trust dated July 21, 2004, and filed of record in the office of the Hall
<br />County Register of Deeds, on the 30`� day of .�uly, 2004, as Document No. 200407529 in respect to that real estate describcd as:
<br />Lot Five (5), Block Two (2), Replat of Riverside Acres, an Addition to the City of Grand Island, Hall County, Nebraska
<br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain funds are ta 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"; at�d
<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 Tn�st af 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 position 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 lien of the Secured Farty in respect to the Collateral.
<br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in all the Collateral as
<br />described above to secure indebtedness to be advanced to Debtor by Secured Farty, in the original principal amount of E�hty
<br />Thousand and 00/100ths Dollars ($80,000.00), recorded in the office of the Hall County Register of Deeds on the g_ day of
<br />November, 2010, as Document No. GaQ /UO �3`r�D
<br />3. So long as an obligatian is outstanding frozn the Debtor to the Secured Party for indebtedness evidenced by Promissory
<br />Notes or other instrurnents of indebtedness to the extent herein provided in Paragraph 2, the Secured Pariy's interest in the Collateral
<br />shall have priority to over the lien of the Subordinating Creditor in that Collateral, and the Subordinating Greditor's interest in that
<br />Collateral is, in all respects, subject amd subordinate to the security interest of the Secured Party to the extent of the principal sum yet
<br />owing to Secured Party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocable thereto,
<br />however evidenced.
<br />4. So long as any portion of the described obligation to Secured Party is autstanding and unpaid, the provisions of the Deed
<br />of Trust af other instrurnent of security between the Debtor and the Secured Party are controlling as to the Callateral in which Secured
<br />Party is to have a first security interest, including any time there is a conflict between it and the provisions of any lien instrument
<br />granted to the Subordinating Creditor by the D�btor.
<br />5. This Agreement is a continuing, absolute and unconditional ag,xeement of subordination without regard to the validity or
<br />enforceability of the Promissory Notes or other instruments of indebtedness between the Debtor and the Secured Party evidencing
<br />sums due or documents granting a security interest in the Collateral, irrespective of the time or order of attachment or perfection of the
<br />security interest in the Collateral or the order of filing the Deeds of Trust or other instruments of security with respect to the Collateral.
<br />6. This Agreement shall rernain in full force and effect and is binding upon the Subordinating Creditor and upon its
<br />successors and assigns, so long as any portion of the sums secured as described in Paragraph 3 are outstanding and unpaid.
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