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�� �� �� 0 �- �� � �� N �'�� A - � N �� Cn �� � �� �� �� �� �� � � � �fl� �� � � � � � � � � � �- -� C� Cn S � � D T-'� � Z -i � � � � ; � m O � r i c� -< o �' ` e` F o a`� w p � z N:;` p � Z i� �, ;�. = m n �� r � � -' � r v m � �� ;l' N �� W � � n � �� ;` �.� r ^i �° N � m ;�.. —.] � o� � � �TI7RN TO: Home Fedenql Ssvinss & L,�n P O Box 1009 ` Grand Island. NE 68802 SUBORDINATION AGREEMENT THIS AGRF.EMENT made and execute,d this I�'�''_ day of August, 2012 by and between HOME i� �� FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Subordinating Creditor" (whether one or more), and HOME FEDERAL SAVINGS AND LOAN ASSOCIATION OF GRAND ISLAND, hereinafter referred to as "Secured Paity". WITNESSETH: VVHEREAS, Steven J Simonds and Lisa M Simonds, (whether one or more), hereinafter refened to as "Debtor", has �ted to the Subordinating Creditor a Mortgage or Deed of Trust dated January 13, 2010 and filed of re.cord in the office of the Hall County Register of Deeds, on the 25th day of January, 2010as Documern 1Vo. 201000505 in r�gect to that real estate described as: Lot Twenty (20), Grand West Third Subdivision, in the City of Grand Island, Ha11 County, Nebraska. WI�REAS, the Secured Party has agreed to enter into a loan transaction with the Debtor, whereby certain funds aze to be adva.nc� to tt►e Debtor conditional upon the Debtor providing the Secured PaRy with a first lien in respect to the above described real estate, hereinafter referred to as the "Collateral"; and WHEREAS, the Subordinating Creditor is willing to subordinate any lien it ma.y have in respect to the Collateral by reason of Subordinating Creditor's Mortgage or Deed of Trust of ra:ord to perfect security whenever and wherever filed in order to assure the Secured Party of a first lien position in and to the Collateral; NOW, TFIEREFORE, it is agreed: 1. The Subordinating Creditor hereby conseirts to a subordination of its priority position to the Secured Party and agrees that its lien in respect to the Mortgage or Deed of Trust hereinabove described, if any, shall at all times be secondary to the extem herein provided and subject to the lien of the Secured Party in respect to the Collateral. 2. The Subordinaxing Creditor hereby consents to the Debtor granting Secured Party a first lien in all the Collateral as described above to sECUre indebtedness to be advanced to Debtor by Secured Pariy, in the original principal amowrt of Eighty One Thousand Three Hundred Forty and 00/100ths Dollars ($81,340.00), recorded in the office of the Hall County Register of Deeds on the � day of August, 2012 as Documem No. an�ao��4 3. So long as an obli�ation is outstanding from the Debtor to the Secured Party for indebtedness evidenced by Promissory Notes or other instrumerns of indebtedness to the extent herein provided in Paragraph 2, the Secured Party's interest in tUe Collateral shall have priority to over the lien of the Subordinaring Creditor in that Collateral, and the Subordinating Creditor's i�ere4t in that Collateral is, in all respects, subject and subordinate to the security interest of the Secured Party to the extent of the principal sum yet owing to Secured Party in respect to the indebtedness described in Paragraph 2 along with irterest and costs allocable thereto, however evidenced.