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-RECO�DED <br />��0�1061�� <br />� 0�) Page 2 of 3 <br />FSA-2455 12-31=. _ .. <br />� 2. `�'�`I�REFORE; in consideration of the Lender's agreement to make sucli loan to Borrower and meat other <br />condit�ons of this subordination, the Government (1) consents to the Bonower obtaining the �oan from the Lender <br />for sucfi purposes; and'(2),agcees to and does subordinate in favor of the Lender and its successors and assigns its <br />liens of security interests created or evidenced by the above described instruinents insofar as they cover the <br />following described properly and provided the Lender perfects a lien on this property: <br />SEE ATTACHFsD LEGAL DESCRIPTION <br />3. This subordination is limited to (1) the amount actually loaned by the Lender to the Borrower (principal <br />and accrued interest) for the foregoing purposes, (2) future advances for taxes, insurance, and payments on liens <br />pric,i to the Lender's lien, and (3) the amotiznt actua;ly ad for fo;EClosura costs mad� by the Lendcr. Any <br />amount in excess of such amount will not be covered by this subordination unless prior written consent was <br />obtained from the Government for incurring the expenditure in question. <br />$140,000.00 PLUS INTEREST <br />4. The Lender must: <br />a. Incorporate into the Bonower's promissory note a statement that the loan will be in default should any <br />proceeds of the loan funds obtained as a result of this subordination be used (1) for a purpose that will <br />contribute to the excessive erosion of highly erodible land or to the conversion of wetlands to produce <br />-� an agticultural commodity, as provided by 7 C.F.R. part 1940, subpart G or any successor regulation, or <br />�'(2) for ariy`purpose ribt provided for above. ` ' <br />b. Obtain a perfected security interest on:the above properly. <br />a Give notice vf foreclosure as required by the Government. <br />5. FSA offsets under the Debt Collection Act (31 U.S.C. 3711 et seq.) or 7 C.F.R. part 3 have priority over <br />this subordination. <br />6. When the indebtedness has been satisfied, lender must mazk this form "PAID IN FULL" and return it to the <br />Deparhnent of Agriculture at the following address: <br />2550 N DIERS AVE., SUITE K <br />GP..APdD I�I,AtdD, NE u E S 03 <br />� <br />� <br />