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<br />0 FHLBank "Topeka
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<br />Subordinate Mortgage
<br />03
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<br />THIS SUBORDINA"T"E MORTGAGE (Mortgage) is made on March 31, 2005. The grantor is Jackie Cummings and
<br />Hazel Cummings, husband and wife (Borrower). This Mortgage is given to the Federal Home Loan Bank of Topeka,
<br />a corporation organized and existing under the laws of the United States of America, and whose address is One
<br />Security Benefit Pl. Ste, 100, Topeka, KS 66606, its successors and assigns (Lender). Borrower owes Lender the
<br />principal sum of Four Thousand Dollars (U.S. $ 4,000.00). This debt is evidenced by Borrower's note dated the same
<br />date as this Mortgage (Note). The Note provides for no payments if the Borrower complies with the teens of the
<br />Note. The loan evidenced by the Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable
<br />Housing Program as implemented by Lender (12 U.S.C. 14300); 12 CFR Part 951).
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from Platte Valley State Bank
<br />(Senior Lien Holder), which loan is secured by a first mortgage lien on the Property (First Mortgage). The
<br />documents evidencing or securing the First Mortgage Loan are collectively referred to herein as the First Mortgage
<br />Loan Documents.
<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 Lender 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 />Lot Three (3), Block Two (2), Boggs and Hill's Addition to the City of Grand Island, Hall County, Nebraska.
<br />(which has the address of: 1911 West 13`h Street, Grand Island, NE 68803),
<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 in arrears on the same day of the month the Loan was
<br />originally made.
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<br />M Return recorded mortgage to:
<br />0 FHLBank "Topeka
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<br />m"Topeka, KS 66601
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<br />Subordinate Mortgage
<br />03
<br />r--
<br />THIS SUBORDINA"T"E MORTGAGE (Mortgage) is made on March 31, 2005. The grantor is Jackie Cummings and
<br />Hazel Cummings, husband and wife (Borrower). This Mortgage is given to the Federal Home Loan Bank of Topeka,
<br />a corporation organized and existing under the laws of the United States of America, and whose address is One
<br />Security Benefit Pl. Ste, 100, Topeka, KS 66606, its successors and assigns (Lender). Borrower owes Lender the
<br />principal sum of Four Thousand Dollars (U.S. $ 4,000.00). This debt is evidenced by Borrower's note dated the same
<br />date as this Mortgage (Note). The Note provides for no payments if the Borrower complies with the teens of the
<br />Note. The loan evidenced by the Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable
<br />Housing Program as implemented by Lender (12 U.S.C. 14300); 12 CFR Part 951).
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from Platte Valley State Bank
<br />(Senior Lien Holder), which loan is secured by a first mortgage lien on the Property (First Mortgage). The
<br />documents evidencing or securing the First Mortgage Loan are collectively referred to herein as the First Mortgage
<br />Loan Documents.
<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 Lender 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 />Lot Three (3), Block Two (2), Boggs and Hill's Addition to the City of Grand Island, Hall County, Nebraska.
<br />(which has the address of: 1911 West 13`h Street, Grand Island, NE 68803),
<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 in arrears on the same day of the month the Loan was
<br />originally made.
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