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<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.O. Box 176
<br />Topeka,]{S 66601
<br />
<br />I
<br />
<br />It:,. otJ
<br />Subordinate Mortgage
<br />
<br />TIllS SUBORDINATE MORTGAGE (Mortgage) is made on Marchl 2007 The grantor is Shawn L La Roche and
<br />Jason D La Roche (Borrower). This Mortgage is given to the Federal Home Loan Bank of Topeka, a corporation
<br />organized and existing under the laws of the United States of America, and whose address is One Security Benefit PI.
<br />Ste. 100, Topeka, KS 66606, its successors and assigns (Lender). Borrower owes Lender the principal sum of Four
<br />Thousand Dollars (U.S. $ 4,000.00 ). This debt is evidenced by Borrower's note dated the same date as this
<br />Mortgage (Note). The Note provides for no payments if the Borrower complies with the terms of the Note. The loan
<br />evidenced by the Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable Housing
<br />Program (AHP) as implemented by Lender (12 U.S.C. 14300); 12 CFR Part 951).
<br />
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from Home Federal Savings and
<br />Loan Association (Senior Lien Holder), which loan is secured by a first mortgage lien on the Property (First
<br />Mortgage). The documents evidencing or securing the First Mortgage Loan are collectively referred to herein as the
<br />First Mortgage Loan Documents.
<br />
<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, subject
<br />to the rights of Senior Lien Holder under the First Mortgage, the following property, to-wit:
<br />
<br />Lots Five (5) and Lot Six (6) of Subdivision of Lot Nine (9), Windolph Subdivision of part of the Northeast Quarter
<br />of the Northwest Quarter (NE v.. NW 14) and the Northwest Quarter of the Northeast Quarter (NW Y4 NE 14) of
<br />Section Fourteen (14), Township Eleven (11) North, Range N'me (9) West ofthe efb PM, Hall County, Nebraska.
<br />
<br />(which has the address of: 203 Wainwright St, Grand Island, NE 68801 ),
<br />to have and to hold this property unto Lender and Lender's successors and assigns, forever, all the improvements now
<br />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 />
<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 />
<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 prior
<br />notice to Lender. (c) Subsequent owner does not meet AHP income requirements. (d) In the case of a
<br />refinancing prior to the end of the term of the Note, an amount equal to a pro rata share of the direct subsidy
<br />that financed the purchase, construction, or rehabilitation of the unit, reduced for every year the occupying
<br />
<br />Revised Feb 2006
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