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<br />THIS A^�R�EMEAIT macia and.gxecuted this 6th day of December, 2010, by and between HOME FEDERAL SAVINGS a
<br />AND LOAN ASS��ATION'OF GR:4ND ISLANll, hereinafter referred to as "Subordinating Creditar" (whether one or more), and �
<br />HOM� FEDERAL, SAVINGS AND'�,OAN A550CIATION OF GR.AND ISLAND, hereinafter referred to as "Secured Party". �
<br />WIT�'SS�TH: � .., . .
<br />WHEREAS, Jerome D Fieper and Deborah K Pieper, (whether one or more), hereinafter referred to as "Debtor", has granted
<br />to the Subordinatir�g Creditor a Mortgage or Deed of Trust dated October 4, 2010, and filed of record in the office of the Hall County
<br />Register of Deeds, on the 25th day of October, 2010, as Document No. 0201007850 in respect to that real estate described as:
<br />Lot Four (4), Indianhead Second Subdivision, in 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 to be
<br />advanced to the D�btor conditional upon the Debtor providing the Secured Party with a first lien in respect to the above described real
<br />estate, hereinaft�r referred to as the "Collateral"; and
<br />WHEREAS, the Subordinating Creditor is willing to subordinate any lien it znay have in arespect to the Collateral by reason of
<br />Subordinating Creditor's Mortgage or Deed of Trust 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 5ecured 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 5ubordinatiug 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 Party, in the original principal amount of One Hundred
<br />Fifty Five Thousand Five Hu�dred Seventy Five and 00/100ths Dollars ($155,575.00), reco d', the office of the Hall County
<br />Register of Deeds on the c �'" day of December, 2010, as Docurnent No.
<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 instnunents 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 to the extent of the principal surn 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 Farty is outstanding and unpaid, the provisions of the Deed
<br />of Trust of other instniment of security between khe Debtor and the Secured Party are controlling as to the Collateral in which 5ecured
<br />Party is to have a first security interest, including any time there is a conflict between it and the parovisions o£ any lien instrument
<br />granted to the Subordit►ating Creditar by the Debtor.
<br />5. This Agreement is a continuing, absolute and unconditional agreement 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 docuxnents granting a security interest in the Collateral, irrespective of the time or order of attachment ox perfectian of the
<br />security interest in the Collateral or the order of filing the Deeds of Trust or other instruments of securi�y w respe� to the Collateral.
<br />6. This Agreement shall remain in full force and effect and is binding upon the Subarti�at�ng�"C'rfe a�id �pon 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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