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<br />THIS AGREEMENT made and executed this 9th day of December, 2010, by and between HOME FEDERAI, SAVINGS �
<br />AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Credito�' (whether ane or more), and �, ��
<br />HOME FEDBRA�L SAVINGS"AND LOAN ASSoCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Party".
<br />WITNESSETH:
<br />WHEREAS, James F Hinman and Rene L Hinman, (whether one or more), hereinafter referred to as "Debtor', has granted to
<br />the Subordinating Creditor a Mortgage or Deed of Trust dated November 14, 2007, and filed of record in the office of the Hall County
<br />Register of Deeds, on the 26th day of November, 200'7, as Document No. 200709926 in respect to that real estate described as:
<br />T.ot Seven (7), in Slock Four (4), Y,ake Davis Acres Subdivision, Hall County, Nebraska.
<br />WHEREAS, the Secured Party has agreed to enter intn a loan transaction vcrith the Debtor, whereby certain funds are to be
<br />advanced to the Debtor conditional upon th� Debtor pro�vidin� the Secured Party with a fust lien in respect to the above described real
<br />estate, hereinafter referred to as the "Collateral"; and
<br />WHEREAS, the Subordinadng Creditor is willing to subordinate any lien it zz�ay have in respect to the Collateral by reason o£
<br />Subordinating Creditor's Martgage or Deed of Trust of record to perfect security whenever and wherever filed in arder to assure the
<br />Secured Party of a first lien position in and to the Collateral;
<br />NOW, THEREFORE, it is agreed:
<br />l. 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 Party in respect to the Collateral.
<br />2. The Subardinating Creditar hereby consents to the Debtor granting Secured Farty a first lien in all the Collateral as
<br />described above to secure indebtedness to be advanced to Debtor by Sectued Party, in the original principal amouut of �Sixty Five
<br />Thousand and 00/100ths Dollars ($65,000.00), recar e in the off'ice of the Hall County Register of Deeds on the '� � day of
<br />December, 2010, as Document No. /��
<br />3. So long as an obligation is outstauding from ihe Debtor to the Secured Party for indsbtedness evidenced by Promissory
<br />Notes or other insteuments 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 Subordinatang Creditor's interest in that
<br />Collateral is, in all respects, subject and 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 thereta,
<br />however evidenced.
<br />4. So long as any portion of the described obligation ta Secured Party is outstat�ding and unpaid, the provisions of the Deed
<br />of Trust of othar instnunent of security between the Debtor and the Secured Party axe conirolling as ta the Collateral in which Secured
<br />Party is to have a first secttrity interest, including any time there is a conflict between it and tbe provisians of any lien instniment
<br />granted w the Subordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, absolute aud unconditional agreement of subordination without regard to the validity or
<br />enforceability of the Promissory Notes or ather instrurnents 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 af the
<br />security interest in the Collateral or the ard�r 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 and is bind���o� �e�����ti�g Creditor and upon its
<br />successors and assigns, so long as auy portion of the sums secur�d as describe in aragrap 3 �itstanding and unpaid.
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