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<br />SUBORDINATTON AGREEMENT
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<br />THIS AGREEMENT made and executed this �$µ' day of Deccmber, ZO10 by and between HOME FEDERAL SAVINGS
<br />AND LOAN ASSOCTATTON OF GRAND [SLAND, hereinafter reFerred to as "Subordinating Creditar" (whethar oae or more), and
<br />H011� FEDERAC, SAVINGS AND L�JAN ASSOCIATI�N OF GRAND ISLAND, hereinafter refereed to as "Secured Party".
<br />WITNESSETH:
<br />Wk�1tEAS, Steven D Kunzman and Golleen M Kunzman, (whether one or more), hereinafter referred to as "Ucbtar", has
<br />gra,nted to tlae 5ubordinating Creditor a Mprtgage or Deed of Trust dated April 25, 2008 and filed of record in the office of the Hall
<br />County Re�ister of Deeds, on the 5th day of May, 20Q8 as Document No. 2p0803810 in respect to that real estate described as:
<br />Lot Seventeen (17), Blpck Two (2), in Replat of Riverside Acres, an Addition to the City of Grand Tsland, Hall County,
<br />Nebraska,
<br />WHEREAS, the Secured Party has agre�d to enter into a loan transaction with the Debto.r, whereby certain funds are ta be
<br />advanced to the Debtor conditiona1 upon the Debtor providing the Secured Party with a first lien in respect to the above described real
<br />estate, hereinafter referred ta as the "Collatecal"; z�nd
<br />WHEREAS, the Subardinating Cred�tor is willin� to subordinate any lien it may have in r�spect to the Callateral by reason pf
<br />Subardinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever and wherever filed in order to assure the
<br />Secured Parry pf a first lien pasition in and tq the Cpilatcral;
<br />NpW, THEREFORE, �t is agreed:
<br />1. The Subordinating Creditor hereby consents to a subordinatian ofits priority pasition tn tha Secured Party and agrees that
<br />its lien in respect to the Mortgage nr Deed af Trust hereinabove described, if any, shall at all times be secondary to the exterrt herein
<br />provided and subject to the lien of the Securc�d Paaty in respect to the Collateral.
<br />2. The Subordin�tittg Creditor hereby consents to the Uebtor granting Secured Party a first lien in all the Callateral as
<br />described above to secure indebtedness to be advanced to Debtar by Secured Party, in the original pr�ncipal amount of One Hundred
<br />Five Thousand Three kIundred & 00/100ths .Dollars ($105,300.00) recorded in the offzce af the Hall County Register of.Dceds an the
<br />`� day ofDecember, 2010 as Docume�rt Na. ��� �.
<br />3. So long as an abligation is outstanding from the Debtor ta the Secured Party for indebtedness evidenced by Promissnry
<br />Notes or other instruments of indebtedness to the extent herein prnvided in Paragraph 2, the Secured Party's 'rnterest in the Collateral
<br />shall have pciority to over tl�e lien of the Subardinating Cteditor in that Collateral, and the Subordinating Creditor's interest in that
<br />Collateral is, in all respects, subject and subardinate to the security interest ofthe Secured Party to the extent of the principal sum yet
<br />owing to Secured Party in respect to the ittdebtedness described in Paragraph 2 alang with interast and costs �Ilocable thereto,
<br />hawever evidenced.
<br />4. So lpng as any portion ofthe dascribed obli�ation to Secured Party is outstanding and unpaid, the provisions oftlae Deed
<br />of Trust of nther instrument pf security between the Debtor and the Secured Party are controlling as to the Collateral in which Secured
<br />Party is to have a first security i�terest, including any tirne there is a canElict between it and the provisions of any lien instrument
<br />granted to the Subordinating Creditar by the Debtor.
<br />S. This Agreeme�rt ts a continuin�, absalute and unconditional a$reement of subordination without regard ta ihe validity or
<br />enforceability ofthe Promissory Notes ar other instruments of indebtedness between the Debtpr and the Secured Party evidencing
<br />sums due or dpcurnents granting a security interest in the Collateral, irrespective of the time or arder af attachment or perfection of the
<br />security interest in the Collateral or the order of filing the Deeds of Trust ar other instruments of security with respect to the Collateral.
<br />6. This Agreement shall remain in full force and effeci and is binding upan thc Sub�rdinating Creditor and upon its
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