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<br />�T,JBQRDINATION AGREE�1�
<br />- �0�50
<br />THIS AGREEMENT made and executed this 10'�' day of Novernber, 2010, by and between HOME FEDERAL SAVINGS
<br />AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and
<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter refened to as "Secured Fart}�'.
<br />WITNESSETH:
<br />WHEREAS, Travis R Lilienthal and Stephanie M Lilienthal, (whether one or more), hereinafter referred to as "Debtor", has
<br />granted ta the Subordinating Creditor a Mortgage or Deed of Trust dated March 8, 2010, and filed of record in the office of the Hall
<br />County Register of Deeds, on the 19th day of March, 2010, as Document No. 201001827 in respect to that real estate described as:
<br />Lot Three (3), Twin Lakes Second Subdivision, Hall Caunty, Nebraska.
<br />WHBREAS, the Secured Party has agreed to enter into a loan transaction with tkie Debtor, whereby certain fiuxds are ta be
<br />advanced to the Debtor conditional upon the Debtor providing the Secured Party with a first lien in respect ta the above described real
<br />estate, hereinafter refened to as the "Callateral"; 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 aud 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 lieu in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all times be secondary to the axtent herein
<br />provided and subject to the lien of the Secured Party in respect to the Collateral.
<br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a fixst lien in all the Collateral as
<br />described above to secure indebtednass to be advanced to Debtor by Secured Party, in the original principal amount of One Hundred
<br />Thousand and 00/lOths Dollars ($100,000.00), recorded in the office of the Hall County Register of Deeds on the � day of
<br />November, 2010 as Document No. � D lD -(�S � 7
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness evidenced by Promissory
<br />Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured Party's interest in the Collateral
<br />shall have priority 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 of the Secured Party ta the extent of the principal surn yet
<br />owing ta Secured Party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocable thereto,
<br />however evidenced.
<br />4. Sa long as any portion of the described obligatian to Secured Party is outstanding and unpaid, the provisions of the Deed
<br />af Trust of other izastrument of security betwecn the Debtor and the Secured Party are controlling as to the Collateral in which Secured
<br />Party is to have a�rst security interest, including any time there is a canflict between it and the provisions of any lien instrument
<br />granted to the Subordinating Creditor by the Debtox.
<br />5. This Agreement is a continuing, absolute and unconditional agreement of subordination witkxout regard to the validity or
<br />enforceability of the Prornissory Notes or other insVurnents of indebtedness between the Debtar and the Secured Party evidencing
<br />sums due or documents granting a security interest in the Collateral, inespective of the time or order of attachment or pearfection 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 remain in full force and effect atidi pi�}di�� �tp�n��he^Subordinating Creditor and upan its
<br />successors and assigns, so long as any portian of the sums secured as` �esc4�ibed xri Paragraph 3 are outstanding and unpaid.
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