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�� <br />�� <br />�� <br />N � <br />A �� <br />� ��� <br />� �� <br />� �� <br />� <br />N <br />� <br />— <br />�� <br />�� <br />�� <br />�_ <br />•P � <br />� <br />RS <br />� <br />d <br />RETURN TO: <br />Home Fedecal Savin�s 8c Loan <br />P O Box 1�9 <br />Graud Island, NE 68802 <br />ti� <br />� <br />�a <br />.� <br />� <br />c <br />N <br />11��' � <br />� ���a d <br />� <br />� <br />o� <br />SUBORDINATION AGREEMENT <br />x``� <br />r �o r , <br />� <br />P` <br />� <br />� <br />� <br />m <br />c� <br />� <br />- <br />m <br />� <br />0 <br />� <br />0 <br />rn <br />r*� <br />0 <br />� <br />� <br />� <br />r.s <br />� <br />c1� <br />� <br />- <br />N <br />� <br />"O <br />� <br />� <br />0 <br />� <br />E'> (n <br />O —1 <br />C 'Sm <br />�� <br />� <br />�� <br />c� -� <br />" � <br />� rn <br />� cn <br />r z� <br />r �. <br />� <br />� <br />3s► <br />¢�a <br />� <br />THIS AGREEMENT made and executed this 21� day of September, 2011, by and between HOME <br />FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as <br />"Subordinating Creditor" (whether one or more), and HOME FEDERAL SAVII�TGS AND LOAN ASSOCIATION <br />OF GRAND ISLAND, hereinafter referred to as "Secured Part}�'. <br />WTTNESSETH: <br />WI�REAS, Lonnie J Mitteis and Debra R Mitteis, (whether one or more), hereinafter referred to as <br />"Debtor", has granted to the Subordinating Creditor a Mortgage or Deed of Trust dated June 13, 2011, and filed of <br />record in the office of the Hall County Register of Deeds, on the 17�` day of June, 2011, as Document No. <br />201104508, in respect to that real estate descnbed as: <br />See Attached Fxhibit "A" for Legal Description <br />WHEREAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain <br />funds are to be advanced to the Debtor conditional upon the Debtor providing the Secured Parly with a first lien in <br />respect to the above described real estate, hereinafter refened to as the "Collateral"; and <br />VVHEREAS, the Subordinating Creditor is willing to subordinate any lien it may have in respect to the <br />Collateral by reason of Subordinating Creditor's Mortgage or Deed of Trust of record to perfect security whenever <br />and wherever filed in order to assure the Secured Patty 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 <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 5ubordinating 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 Twenty-Three Thousan� Two Hundred Dollars ($123,200.00) recorded in the <br />office of the Hall County Register of Deeds on the � day of �_ �, as Document <br />No. .�� ���C���� . <br />3. So long an oas bligation is outstanding from the Debtor to the Secured Party for indebtedness evidenced <br />by Promissory Notes or other instruments of indebtedness to the extent herein provided in Paragraph 2, the Secured <br />Pariy's interest in the Collateral shall 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 />Q� <br />E"� <br />0 <br />�a <br />F--► � <br />0 <br />-�.7 � <br />t--+ � <br />�` <br />R� � <br />.���d <br />� � <br />