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�� � �� - � �� �� � �� j � � N � � �� � � �� �� � r � � C Z = A v � � � , � � 1 n�' � m cn` P1 � � � _ r � � Q 0. SU$ORDINATION AGREEMENT � '� c� cr� �..-. �--► ca � � � C.... � �.-1 � ... { R � � � a F� � C] Tt ' "n► � .� � m --� A � � r' �c7 �.""' I � 7'C Tr F--� ""� �'-' W dl� � � .. �-T.' �� �� �„ y�� �� N � �"1 � C� --�1 � 1"r"I � 0 � � N C,,.`"? h-y F"'""a � � N N � THIS AGREEMENT made and executed this lOth day of December, 2010, by and between HOME FEDERAL SAVING5 �� AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and �,, HOME F$DERAL SAVIN�'rS AND LOAN A550CIATION OF GRAND ISLAND, hereinafter referred to as "Secured Party". WITNESSETH: WHEREAS, Allen R Glass Sr and Janet M Glass, (whether one or more), hereinafter referred to as "Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated 7anuary 9, 2009, and filed of record in the office of the Hall Gounty Register af Deeds, on the 22nd day of January, 2009, as Document No. 200900389 in respect to that real estate described as: Lot Twenty Three (23) in Westwood Park Tenth Subdivision in the City of Grand Island, Hall County, Nebraska WHEREAS, the Secured Farty has agreed to enter into a loan transaction with the Debtor, whereby certain funds are to be advanced to the Debtor conditional upon the Debtor praviding the Secured Party with a first lien in respect to the above described real estate, hereinafter referred to as the "Collateral"; and WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the Collateral by reason of Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever and wher�ver �led in order to assure the Secured Party of a first lien position in and to the Collateral; NOW, THEREFORE, it is agreed: 1. The Subordinating Creditor hereby consents to a subordination of its priority position to the Secured Party and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all times be secondary to the extent hcrain provided and subject to the lien of the Secured Party in resp�ct to the Collateral. 2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in all the Collateral as described above to secure indebtedness to be advanced to Debtoz' by Secured Party, in the original principal amount of Seventy �� Thausand One Hundred Forty and 00/100ths Dollars ($75,140.00), recorded in the office of the Hall County Register of Deeds on the q��' day of December, 2010, as Document No. o"�p/ - 3. So long as an obligation is outstanding from the Debtor to the Sscured Pariy for indebtedness evidenced by Promissory Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured Party's interest in the Callateral shall have priority to over the lien of the Subordinating Creditor in that Collateral, and the Subordinatin� Creditor's interest in that Collateral is, in all respects, subject and subordinate to the security interest of the Secured Party to the extent of the principal sum yet owing to Secured Party in respect to the indebtedness described in Paragraph 2 along with interest and costs allocable thereto, however evidenced. 4. So long as any portion �f the described obligation to Secured Party is outstanding and unpaid, the provisions of the Deed of Trust of othcr instruraent of security between the Debtor and the Secured Party are controlling as to the Collateral in which Secured Party is to have a first security intcrest, including any time there is a conflict between it and the pravisiotts of any lien instrument granted to the Subordinating Creditor by the Debtor. 5. This Agre�ment is a continuing, absolute and unconditional agreement of subordinatian without regard to the validity or enforceability of the Promissory Notes or other instruments of indebtedness between the Debtor and the Secured Party evidencing sums due or docurnents granting a security interest in the Collateral, irrespective of the time or order of attachment or perfection of the security interest in the Collateral or the order of filing the Deeds of Trust or other instrunnents of security with respect to the Collateral. 6. This Agreement shall remain in full force and effect and is binding upon the Subordinating Creditor and upon its successars and assigns, so long as any portion of the sums secured as described in Paragraph 3 are outstanding and unpaid.