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<br />SUBORDINATION AGREEMENT
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<br />THIS AGREEMENT made_and executed this 31 st day of Match, 2011, by and between HQME FEDERAL SAVINGS AND
<br />LOAN ASSO.CIATIQN OF GR?�ND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and ��
<br />HOME FEDERAL SAVINGS A1�TD LOAN A,SSOCJATION OF GRAND ISLAND, hereinafter referred to as "Sectued Part}�'. ����
<br />WT�NESSETH: , -
<br />WHEREAS, Lyle B DeBlois and Eileen M Kelly, (whether one or more), hereinafter referred to as "Debtor", has granted to
<br />the Subordinating Creditor a Mortgage or Deed of Trust dated July 17, 2009, and filed of record in the office of the Hall County
<br />Register of Deeds, on the 23rd day of 7uly, 2009, as Document No. 200906031 in respect to that real estate described as:
<br />Lot Nine (9) in Blanvelt 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 aze to be
<br />advanced to the Debtor conditional 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 5ubordinating Czeditor 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 Tiust of record to perfect security whenever and wherever filed in order to assure the
<br />Secured Parly 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 Secured Party and agrees that
<br />its Iien in respect to the Mortgage or Deed of Tnist 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 Subordinating 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 Fifty Thousand
<br />and 00/100ths Dollars ($50,000.00), recorded in the office of the Hall County Register of Deeds on the 15th day of February, 20111,
<br />as Document No. 201101295.
<br />3. 50 long as an obligation is outstanding 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 />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 sum yet
<br />owing to Secured Party itt respect to tha indebtedness described in Pazagraph 2 along with interest aad costs allocable therato,
<br />however evidenced.
<br />4. So long as any portion of the described obligation 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 Secured Parly are controlling as to the Collateral in which Secured
<br />Pariy is to have a first security interest, including any time there is a conflict betweett it and the provisions of any lian instrument
<br />granted to the Subordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, absolute and unconditional agreament 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 Creditor and upon its
<br />successors and assigns, so long as any portion of the sums secured as descn`bed in Paragraph 3 aze outstanding and unpaid.
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