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200003867
<br />Return recorded mortgage to:
<br />Federal home Loan Bank of Topeka
<br />Y.O. Box 176
<br />Topeka, KS 66601
<br />Subordinate Mortgage
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<br />THIS S0131116RDINAd! MORTGAGE (Mortgage) is made on MAY__LOTZ _ _ 2(D_Q_. The
<br />grantor is ERICK D 1DIRVELL_ AND_ _A)?RLIr_L_NORVEL)?________.___ ___ (Borrower). This
<br />Mortgage is given to the Federal home Loan Bank of Topeka, a corporation organized and existing under the laws
<br />of the United States of America, and whose address is 120 SE 6th St., Topeka, KS 66603, its successors and assigns
<br />(Lender). Borrower owes bender the principal sum of FIVE THOUSAND AND NO----- -- - - - -- Dollars
<br />(II.S. $ _5-,- )II0._00— ). This debt is evidenced by Borrower's note dated the same date as this Mortgage (Note).
<br />The Note provides for no payments if the Borrower complies with the terms of the Note. The loan evidenced by the
<br />Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable Housing Program as
<br />implemented by Lender (12 II.S.C. 14300); 12 CFR Part 960).
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from
<br />UN_ IT_ED_NEBRASKA BAM _ (Senior Lien holder), which loan is secured by
<br />a first mortgage lien on the Property (First Mortgage). The documents evidencing or securing the First Mortgage
<br />Loan are collectively referred to herein as the First Mortgage Loan Documents., filed May 10, 2000 a S
<br />Document No. 200003802.
<br />This Mortgage secures to Lender the repayment of the debt evidenced by the Note. For this purpose, Borrower
<br />irrevocably mortgages, grants and conveys to bender and Lender's successors and assigns, with power of sale,
<br />subject to the rights of Senior Lien holder under the First Mortgage, the following property, to -wit:
<br />CHARLES
<br />LOT 2 BLOCK 3AWASMEMI)DITION TO THE CITY OF GRAND ISLAND, HALL COUNTY , NEBRASKA
<br />(which has the address of: 1609 W LOUSIE, GRAND ISLAND, _NE 68801 __ ),
<br />to have and to hold this property unto Lender and Lender's successors and assigns, forever, all the improvements
<br />now or hereafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a part of the
<br />property. All replacements and additions shall also be covered by this Mortgage. All of the foregoing is referred to in
<br />this Mortgage as the Property.
<br />Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage,
<br />grant and convey the Property and, except for the First Mortgage and other encumbrances of record acceptable to
<br />Senior Lien Holder, the Property is unencumbered. Borrower warrants and will defend generally the title to the
<br />Property against all claims and demands, subject to such encumbrances of record.
<br />1. PAYMENTS. The principal of the debt evidenced by the Note shall be due and payable in the event
<br />Lender designates a default under the Note. It is a default under the Note if (a) Borrower (or at least one of
<br />borrowers if more than one borrower) does not continue to occupy the Property as Borrower's principal
<br />residence; or (b) Borrower transfers the Property to another (other than Senior Lien Holder) without
<br />obtaining the prior approval of Lender. (Lender's approval will be given if the new Property owner assumes
<br />the Note and satisfies the same qualification requirements Borrower was subject to when Borrower initially
<br />obtained the Loan.). Provided that the Lender does not designate a default under the Note, the amounts due
<br />and payable under the Note will be forgiven as follows: The principal amount of the Loan shall be reduced
<br />over the first 5 years by 1 /60th of the original principal balance of the Loan for each month the Loan is
<br />outstanding. Such monthly reductions shall take effect it) arrears on the same day of the month the Loan was
<br />originally made.
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<br />200003867
<br />Return recorded mortgage to:
<br />Federal home Loan Bank of Topeka
<br />Y.O. Box 176
<br />Topeka, KS 66601
<br />Subordinate Mortgage
<br />t — ti. l W u.
<br />Q \J fV V Ce
<br />F— 7 O
<br />THIS S0131116RDINAd! MORTGAGE (Mortgage) is made on MAY__LOTZ _ _ 2(D_Q_. The
<br />grantor is ERICK D 1DIRVELL_ AND_ _A)?RLIr_L_NORVEL)?________.___ ___ (Borrower). This
<br />Mortgage is given to the Federal home Loan Bank of Topeka, a corporation organized and existing under the laws
<br />of the United States of America, and whose address is 120 SE 6th St., Topeka, KS 66603, its successors and assigns
<br />(Lender). Borrower owes bender the principal sum of FIVE THOUSAND AND NO----- -- - - - -- Dollars
<br />(II.S. $ _5-,- )II0._00— ). This debt is evidenced by Borrower's note dated the same date as this Mortgage (Note).
<br />The Note provides for no payments if the Borrower complies with the terms of the Note. The loan evidenced by the
<br />Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable Housing Program as
<br />implemented by Lender (12 II.S.C. 14300); 12 CFR Part 960).
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from
<br />UN_ IT_ED_NEBRASKA BAM _ (Senior Lien holder), which loan is secured by
<br />a first mortgage lien on the Property (First Mortgage). The documents evidencing or securing the First Mortgage
<br />Loan are collectively referred to herein as the First Mortgage Loan Documents., filed May 10, 2000 a S
<br />Document No. 200003802.
<br />This Mortgage secures to Lender the repayment of the debt evidenced by the Note. For this purpose, Borrower
<br />irrevocably mortgages, grants and conveys to bender and Lender's successors and assigns, with power of sale,
<br />subject to the rights of Senior Lien holder under the First Mortgage, the following property, to -wit:
<br />CHARLES
<br />LOT 2 BLOCK 3AWASMEMI)DITION TO THE CITY OF GRAND ISLAND, HALL COUNTY , NEBRASKA
<br />(which has the address of: 1609 W LOUSIE, GRAND ISLAND, _NE 68801 __ ),
<br />to have and to hold this property unto Lender and Lender's successors and assigns, forever, all the improvements
<br />now or hereafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a part of the
<br />property. All replacements and additions shall also be covered by this Mortgage. All of the foregoing is referred to in
<br />this Mortgage as the Property.
<br />Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage,
<br />grant and convey the Property and, except for the First Mortgage and other encumbrances of record acceptable to
<br />Senior Lien Holder, the Property is unencumbered. Borrower warrants and will defend generally the title to the
<br />Property against all claims and demands, subject to such encumbrances of record.
<br />1. PAYMENTS. The principal of the debt evidenced by the Note shall be due and payable in the event
<br />Lender designates a default under the Note. It is a default under the Note if (a) Borrower (or at least one of
<br />borrowers if more than one borrower) does not continue to occupy the Property as Borrower's principal
<br />residence; or (b) Borrower transfers the Property to another (other than Senior Lien Holder) without
<br />obtaining the prior approval of Lender. (Lender's approval will be given if the new Property owner assumes
<br />the Note and satisfies the same qualification requirements Borrower was subject to when Borrower initially
<br />obtained the Loan.). Provided that the Lender does not designate a default under the Note, the amounts due
<br />and payable under the Note will be forgiven as follows: The principal amount of the Loan shall be reduced
<br />over the first 5 years by 1 /60th of the original principal balance of the Loan for each month the Loan is
<br />outstanding. Such monthly reductions shall take effect it) arrears on the same day of the month the Loan was
<br />originally made.
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