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<br />SUBORDINATION AGREEMENT
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<br />THIS AGREEMENT made and executed this �� day of January, 2011 by and between HOME FEDERAL SAVINGS
<br />AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and
<br />HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter refened to as "Secured Party".
<br />WITNESSETH:
<br />WHEREAS, Todd D Mor�an and Fae A Morgan, (whether one or mare), hereinafter referred to as "Debtor", has granted to
<br />the Subordinating Creditor a Mortgage or Deed of Trust dated March 25, 2009 and filed of record in the office of the Ha11 County
<br />Register of Deeds, on the 7th day of Apri1, 2009 as Document No. 200902543 in respect to that reat estate described as:
<br />Lot Twenty-Ei�ht (28}, Castle Estates Subdivision in the City of Giand Island, Ha11 County, Nebraska.
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<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 Debtor condirional upon the Debtor providing the Secured Party with a first lien in respect to the above described real
<br />estate, hereinafter referred to as the "Collateral"; and
<br />WHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the Collateral by reason of
<br />Subordinating Creditor's Mortgage or Deed of Trust of record to perfect sec�rity 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 />1. The Subordinating Creditor hereby consents to a subordinatian of its priority position to the Secured Party and agrees that
<br />its lien in respect to the Mortgage or Dced of Trust hereinabove described, if any, shall at a11 times be secondary to the exteirt herein
<br />provided and subject to the lien of the Secured Pariy in respect to the Collateral.
<br />2, The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first iien in all tt►e Coltateral as
<br />described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original principal amount of Sixty Two
<br />Thousand Nine Hundred & 00/100ths Dollars ($62,900.00 , recorded int �e office of the Hall County Register of Deeds on the
<br />�1j�1'ayofJanuary,2011asDocumentNo.�� (�U��.c�. and re—filed March 7.3, �+�►! 2011023�5
<br />� 3. So long as an obligation is oui�anding from the Debtor to the Secured Party for indebtedness evidenced by Promissory
<br />Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured Party's interest in the Collateral
<br />shali have priority to over the lien uf the Subordinating Creditor in that Collateral, and the Subordinating Greditor'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 thereto,
<br />however evidenced.
<br />4. So long as any portion of the described obligaxion to Secured Party is outstanding and unpaid, the provisions of the Deed
<br />of Trust of other instrument of security between the Debtor and the Secur�d Party are controlling as to the Collateral in which Secured
<br />Party is to have a first security interest, includin,g any time there is a conflict between it and the provisions of any lien instrument
<br />granted to the Subordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, absolute and unconditional agreemeM 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 documents granting a security interest in the Collateral, irrespective of the time or order of attachment or perfection of the
<br />security interest in the Collateral or the order 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 binding upon the Subordinating Cre�itor and upon its
<br />successors and assigns, so long as any portion of the sums secured as described in Paragaph 3 are outstanding and unpaid.
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