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200510606 Return recorded mortgage to: FHLBank Topeka P.O. Box 176 Topeka, KS 66601 Subordinate Mortgage THIS SUBORDINATE MORTGAGE (Mortgage) is made on September 30.2005 grantor is Daniel J Dryer. a sinQle person . The (Borrower). This Mortgage is given to the Federal Home Loan Bank of Topeka, a corporation organized and existing 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 (Lender). Borrower owes Lender the principal sum of FOUR THOUSAND 00/100 Dollars (U.S. $ 4.000.00 ). This debt is evidenced by Borrower's note dated the same date as this Mortgage (Note). The Note provides for no payments if the Borrower complies with the terms of the Note. The loan evidenced by the Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable Housing Program as implemented by Lender (12 U.S.C. 14300); 12 CFR Part 951). In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) TIERONE BANK (Senior Lien Holder), which loan is secured by a first mortgage lien on the Property (First Mortgage). The documents evidencing or securing the First Mortgage Loan are collectively referred to 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 mortgages, grants 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: East Forty One (41) feet of Lot Nine (9) and West Nineteen (19) feet of lot Ten (10), Block Eight (8), Morris Fifth Addition to the City of Grand Island, Hall County, Nebraska. (which has the address of: 414 E 18th St. GRAND ISLAND. NE 68801 ), 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 foregoing is referred to in this Mortgage as the Property. Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and, except for the First Mortgage and other encumbrances of record acceptable to Senior Lien Holder, the Property is unencumbered. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to such encumbrances of record. 1. PAYMENTS. The principal of the debt evidenced by the Note shall be due and payable in the event Lender designates a default under the Note. It is a default under the Note if: (a) Borrower (or at least one of borrowers if more than one borrower) does not continue to occupy the Property as Borrower's principal residence; or (b) Borrower transfers the Property to another (other than Senior Lien Holder) without obtaining the prior approval of Lender. (Lender's approval will be given if the new Property owner assumes the Note and satisfies the same qualification requirements Borrower was subject to when Borrower initially obtained the Loan.). Provided that the Lender does not designate a default under the Note, the amounts due and payable under the Note will be forgiven as follows: The principal amount of the Loan shall be reduced over the first 5 years by 1/6oth of the original principal balance of the Loan for each month the Loan is outstanding. Such monthly reductions shall take effect in arrears on the same day of the month the Loan was originally made. 2. DESIGNATION OF DEFAULT AND REMEDIES. Lender shall give notice to Borrower and Senior Lien Holder prior to a designation of a default under the Note. The notice shall specify: (a) the default; (b) the action required to cure the default; (c) a date, not less than 30 days from the date the notice is given to Borrower (and with respect to Senior Lien Holder, 60 days from the date the notice is given to Senior Lien Holder), by which the default must be cured; and (d) that failure to cure the default on or before the date specified in the notice may result in designation of a default under the Note and the sale of the Property. The notice shall further inform Borrower of the right to reinstate after designation of a default and the right to bring a court action to assert the non-existence of a default or any other defense of Borrower to a designation of default and sale. If the default is not cured by Borrower on or before the date specified in the notice, and Senior Lien Holder has not exercised its right to cure the default, then Lender at its option may designate a default and require immediate payment of all sums secured by this Mortgage without further demand and may invoke the power of sale and any other remedies permitted by applicable law. Notwithstanding Lender's right to invoke any remedies hereunder, Lender may not commence foreclosure proceedings or accept a deed in lieu of foreclosure, or exercise any other rights or remedies hereafter until it has given Senior Lien Holder at least 60 days' prior written notice. Lender shall be entitled to collect all expenses incurred in pursuing the remedies provided in this section 2, including, but not limited to, reasonable attorneys' fees and costs of title evidence. Page 1 of 2