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<br />Return To:
<br />Home Federal Savings & Loan
<br />P O Box 1009
<br />Grand Island. NE 68802
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<br />SUBORDINATION AGREEMENT
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<br />THIS AGREEMENT made a�d�exg�u�,�°fih�s °' �°_ of September, 2011, by HERITAGE BANK
<br />f/k/a CITY NATIONAL BANK� Al�� '�RUS�'�'' �;�- �,? :,� , ST"ITTGS, NEBRASKA , hereinafter refened to as
<br />"Subordinating Creditor" (whetb;er o�� ����q�e�;� �qa� t�, b t�n£-,��OME FEDEItAL SAVINGS AND LOAN
<br />ASSOCIATION OF GRAND IS`���;�ier�ina�fer=r�-�ts��ecured Party".
<br />WITNESSETH:
<br />WHEREAS, David A Litz and Mary C Litz, (whether one or more), hereinafter referred to as "Debtor", has
<br />granted to the Subordinating Creditor a Mortgage or Deed of Trust dated October 30, 2002, and filed in the office of
<br />the Adams County Register of Deeds, on the 14th day of November, 2002, as Document No. 200212548 in respect
<br />to that real estate described as:
<br />Lot One (1) of Amick Acres West Third Subdivision, Hall County, ATebraska.
<br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain
<br />funds aze to be advanced to the Debtor conditional upon the Debtor providing the Secured Party with a first lien in
<br />respect to the above described rea,l 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
<br />Collateral by reason of Subordinatuig Creditor's Mortgage or Deed of Trust of record to perfect security whenever
<br />and wherever filed in order to assure the Secured Party of a first lien position in and to the Collateral;
<br />NOW, TI�REFORE, it is agreed:
<br />1. The 5ubordinating Creditor hereby consents to a subordination of its priority posirion to the Secured
<br />Party and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all
<br />times be secondary to the extent herein provided and subject to the lien of the Secured Party in respect to the
<br />Collateral.
<br />2. The Subordinating Creditor hereby consents to the Debtor granting Secured Party a first lien in all the
<br />Collateral as described above to secure indebtedness to be advanced to Debtor by Secured Party, in the original
<br />principal amount of One Hundred Fifty-Five Thousand Eight Hundred Twenty-Five and 00/100ths Dollars
<br />($155,825.00), recorded in the office of the Adams County Register of Deeds on the � day of September,
<br />2011, as DocumentNo. ��/�� �`',���
<br />3. So long as an obligation is outstanding from the Debtor to the Secured Pariy for indebtedness evidenced
<br />by Promissory Notes or other instruments of indebtedness to the extent herein provided in Pazagraph 2, the Secured
<br />Party's interest in the Collateral sha11 have priority to over the lien of the Subordinating Creditor in that Collateral,
<br />and the Subordinating Creditor's interest in that Collateral is, in all respects, subject and subordinate to the security
<br />interest of the Secured Party to the extent of the principal sum yet owing to Secured pariy in respect to the
<br />indebtedness described in Paragraph 2 along with interest and costs allocable thereto, however evidenced.
<br />4. So 1 any portion of the described obligation to the Secured Party is outstanding and unpaid, the
<br />provisions o e Deed of Trust or other instrument of security between the Debtor and the 5ecured Party are
<br />� contro ' g as to the Collateral in which Secured Pariy is to ha.ve a first security interest, including any time there is
<br />onflict between it aad the provisions of any lien instrument granted to the Subordinating Creditor by the Debtor.
<br />5. This Agreement is a continuing, absolute and unconditional agreement of subordination without regard
<br />to the validity or enforceability of the Promissory Notes or other instruments of indebtedness between the Debtor
<br />and the Secured Parly evidencing sums due or documents granting a security interest in the Collateral, irrespective
<br />of the time or order of attachment or perfection of the security interest in the Collateral or the order of filing the
<br />Deeds of Trust or other instruments of security with respect to the Collateral.
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