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- � v e � � �� 0 _— � � �� � � � - �� �� � � ��..�� THIS AGREENIENT made and executed this � day of January, 2011 by and between HOME FEDERAL SAVINGS � � � � � � � � � s 1� �V I�� AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and HOME FEDERAL SAVIl�iGS AND LOAN ASSOCIATION OF GRAND LSLAND, hereinafter referred to as "Secured Party". WITNES SETH: WHEREAS, Donald F Batenhorst and Helen E Batenhorst, (whet,h� one or more), hereinaftea referred to as "Debtor", has granted to the Subordinating Crer�itor a Mortgage or Deed of Trust daied August 9, 2010 and fil�l of record in the office of the Ha11 County Register of Deeds, on t�e 16th day of August, 2010 as Document No. 201005736 in respect to that real estate described as: Lot Eight (8), Btock Two (2), Woodland Park First Subdivision ta the City of Grand Island, Hall County, Nebr�eska. WHEREAS, the Secured Pazty t�as agreed to enter into a Ioan transadion with the Debtor, whereby certain funds are to be advanced to the Debtor oondirional upon the Debtor providing the Secured Party with a first tiea in respect to the almve described real estate, hereinafter referre� tn 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 Subordinxting Creditor's Mort,gage or Deed of Trust of record to perfect sewrity whenever and wherevet filed in order ta assure the Secured PaRy of a first lien position in and to the Collateral; NOW, THEREFORE, it is agreed: 1. The Subordinating Creditor hereby conserns to a subordination of its priority position to the Secured Party and agrees that its lien in respect to the Mort�age or Deed af Trust hereinabove described, if any, shall at a11 times be s�ondary to the extent herein provided and subject to the lien of the Secured Party in respect to the Collat�al. 2. The Subordinating Creditor hereby consents to the Debtor granting Secured Pariy a first lien in all the Collateral as described above to secure indebtedness to be advanced to Debtor by Se�au�d Party, in the original principal amount of One Hundred Fifty Nine housand Eight Nundred and 00/I OOths Dollars ($15 500.00), recorde m the office of the �Iall County Register of Dceds on the �� day of Jam�ry, 201 t as Document Nqr��,�� 3. So long as an obligation is outstanding from the Debtor to the Secured Party for indebtedness evidenced by Promissory Notes or other instrumerits of indebtedness to the e�ctern herein provided in Para�raph 2, the Secured Parly's irrterest in the Collatera! shall have priority to over the lien of the Subordinating Creditor in that Collateral, and the Subordinating Creditor's interest in that Collateral is, in all respects, subject and subordinate to the security interest of the Secured Party to the exkent of the principal �m yet owing to Secured Party in re��ect to the indebtedness described in Paragraph 2 along with interest and costs allocable thereto, however evidenced. 4. So long as any portivn of the described obligation to Secured Party is outstandin� a.nd unpaid, the provisions of the Deerl of Trust of other instrument 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 i�erest, inciuding any time there is a conElid between it and the provisions of any lien instrument granted to the Subordinating Creditor by the Debtor. 5. This Agreerne�rt is a continuing, absolute and unconditional agreement of subordination without regard to t6e validity or enforceability of the Promisseu�y Notes or other instruments of indebtedness between the Debtar and the Secured Party evidencing sums due or dacuments granting a security imerest in the Collateral, irrespective of the time or order of attachment or perfection of the security interest in the CollateraJ or the order of filing the De�is of Trust or arther instruments of security with respect to the Collateral. 6. This Agreemern shall remaun in fiull force and effect and is bindin� upon the Subordinatin� Greditor and upon its successors and assigns, so tong as any portion of the sums secured as descxe'bed in Paragraph 3 are outstanding and unpaid. � � . � � � y z r � c7 � ,� �° � m^a9 �:'�:;a � �� �d � � � 0 tv O N F--+ d P-+ F--+ F Cn �. � c �� rti 7�C � � � �� �� � r� c� �(� cn a � � � r 0 SUBQRDINATION AGREEMENT � <„ o --� c � z --i -� rn . -� o o - r+ -'' z _ �'1 A C� r � r D. V� 7[ D .1 t. � v3 �