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�, Retum recorded mortgage to: FHLBank Topeka � 012 0 � � �. � P.o. �x i�� Topeka, KS 655fl1 Subordinate Mortgage THIS SUBORDINATE MORTGAGE (Mort�age� is made on May 15 , 20 1? by Joshua T Derr, A Single Person (Borrowerj. This Mortgage is �iven to the Federal Home Loan Bank of Topeka, a corporation organized and exlsting under the laws of the United States of America, and whose address is One Security Benefit PI. Ste. 100, Topeka, KS 66606, its successors and assigns (I.ender}. Borrower owes Lender the principal sum of Four Thousand and 00i100ths Dollars (U.S. $ 4,000.00 1, This debt ls evidenced by Borrower's note dated the same date as this Mortgage (Note�. The Note provides for no payments if the Borrower compl+es with the terms of the Note. The foan evidenced by the Note and secured by this Mortgage (Loan) is being made pursua�t to the Affordable Housing Program (AHP) as implemented by Lender (12 U.S.C.1430(jj;12 CFR Part 1291). In addition to the Loan, Borrower obtained a mortga�e loan (First Martgage Loan) from Home Federal Savings and Loan Assn of Grand Island (Senior Lien Holder), which loan is secured by a first mortgage lien on the Praperty (�irst Mortgage}, The documents evidencing or securing the First Mortgage Loan are collectively referred ta herein as the First Mortgage Loan Documents. This Mortgage secures to Lender the repayment of the debt evidenced by the Note. For this purpose, Borrower irrevocably mo�tgages, �rants and conveys to Lender and Lender's successors and assigns, with power of sale, subject to the rights of Senior Lien Holder under the First Mortgage, the following property, to-wit: Lot Thirteen (13), in Block Twro (2), in Parkhill Subdivision, an Add�ion to the Cit�r of Grand Island, Hall County, Nebraska. (which has the address of: �31 W.lohn St, Grand Island NE 68803 ), to have and to hold this property unto Lender and Lender's successors and assigns, forever, all the improvements now or hereafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Mortgage. All of the fore�oing is referred to in this Mortgage as #he Property. Borrower covenants tfiat 8orrower is lawfufly seized of the estate hereby conveyed and has the right to mortgage, g�ant and convey the Property and, except for tfie first Mortgage and other encumbrances of record acceptabfe to �nior Lien Holder, the Property is unencumbered. Borrower warrants and will defend generally the title to the Properly against all claims and demands, subjed to such encumbrances of record. 1. PAYMENTS. In the case of a sale or refinancing of the Property within frve years of the date of the IVote (the Retention Period), an amount equal to a pro rata share of the principal, reduced for every year Borrovuer owned the Property, shall be repaid to the Lender from any net gain realized upon the sale or refinancing, unless: S1) the Praperty was ass9sted with a permanent mortgage loan funded by an AHP subsidized advance; (2) the Properly is sold to a very low-, or low- or moderate-income household; or (3} following a refinancing, the Property continues to be subject to a deed restriction or other legally Revisexl February 2011