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<br />THTS AC�REEMENT made and executed this 30th day of July 2010, by and between HOME FEDERAI, SAVINGS AND �
<br />LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and �.,, �
<br />HO1v�E FEDERAL SAVINGS ANIa LOAN ASSOCIATION OF GR.AND ISLAND, hereinafter referred to as "Secured Part}j'.
<br />WITNESSETH:
<br />WHEREAS, Kenneth D Caldwell and Parnela R Caldwell, (whether one or more), hereinafter referred to as "Debtor", has
<br />granted to the Subordinating Creditor a Mortgage or Deed of Trust dated September 19, 2005, and �led of record in the office of the
<br />Hall County Register of Deeds, on the 11th day of �ctober, 2005, as Document No. 200510049 in respact ta that real est�te described
<br />as:
<br />All of Lot "B" and the North Ten (10) Acres of Lot "C", in Garden Subdivision of I,at One (1), on Mainland in Sec6on
<br />Thirteen (13), Township Eleven (11) North, Range Nine (9) West oFthe 6th P.M., Hall County, Nebraska.
<br />WHEREAS, the Secured Party has agreed to enter inta 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 licn 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 firat lien position in and to the Collateral;
<br />NOW, THEREFORE, it is agreed:
<br />1. Tlae 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 Party in respect to ths Collateral.
<br />2. The Subordinating Creditor hereby consents to the Dcbtor granting Secured Party a first lien in all the Collateral as
<br />described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original principal amount of One Hundred
<br />Seventy Seven Thousand Four Hundred Seventy and p0/100ths Dollars ($177,4'70.00), recorded in the office of the Hall County
<br />Register af Deeds an We 8'� day of July, 2010, as Docunnent No. 201004700.
<br />3. So long as au obligation is outst�nding from the Debtor ta the Secured Parry 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 Callateral
<br />shall have priority ta over the lien of the Subordinating Creditor in that Collatcral, 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 th� principal sum yet
<br />awing to 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 partion of the described obligation to Secured Party is outstanding and unpaid, the provisians of the Deed
<br />of Trust 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 there is a canflict between it and the provisions of any lien instrument
<br />granted to the Subordinating Creditor by thc Debtor.
<br />5. This Agreement is a continu.ing, absolute and unconditional agreeme�t�f���i�tio�,�vithout regard to the validity or
<br />enforceability of the Promissory Notes or other instruments of indebtedness betwb e tef �d �h� Secured Parry evidencing
<br />sums due or documents grandng a security interest in the Collateral, irrespective of the tirne or order of attaclunent or perfection of the
<br />security interest in the Collateral or tb.e order of filing the Deeds of Trust or other instruments of security with respect to the Collateral.
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