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<br />200703987
<br />
<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.o. Box 176
<br />Topeka, KS 66601
<br />
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<br />
<br />Subordinate Mortgage
<br />
<br />THIS SUBORDINATE MORTGAGE (Mortgage) is made on Mav 16, 2007. The grantor is DOUGLAS W.
<br />CRAMER. a sinllle Derson, (Borrower). This Mortgage is given to the Federal Home Loan Bank of Topeka, a
<br />corporation organized and existing under the laws of the United States of America, and whose address is One
<br />Security Benefit PI. Ste. 100, Topeka, KS 66606, its successors and assigns (Lender). Borrower owes Lender the
<br />principal sum of THREE THOUSAND FIVE HUNDRED AND 00/100 Dollars (U.S. $ 3.500.00). This debt is
<br />evidenced by Borrower's note dated the same date as this Mortgage (Note). The Note provides for no payments if the
<br />Borrower complies with the terms of the Note. The loan evidenced by the Note and secured by this Mortgage (Loan)
<br />is being made pursuant to the Affordable Housing Program (AHP) as implemented by Lender (12 U.S.C. 1430(j); 12
<br />CFR Part 951).
<br />
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from TIERONE 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 />
<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 />
<br />ALL THAT CERTAIN PARCEL OF LAND SITUATED IN THE CITY OF GRAND ISLAND,
<br />COUNTY OF HALL, BEING KNOWN AND DESIGNATED AS LOT 83 IN WEST LAWN, AN
<br />ADDITION TO THE CITY OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />
<br />(which has the address of: 1714 N GRAND ISLAND AVE. GRAND ISLAND. NE 68803-2736),
<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 />
<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 />household has owned the unit, shall be repaid t, from any net gain realized upon the refinancing, unless the
<br />property continues to be subject to a deed restriction or other legally enforceable retention agreement or
<br />mechanism. Provided that the Lender does not designate a default under the Note, the amounts due and
<br />payable under the Note will be forgiven as follows: The principal amount of the Loan shall be reduced over
<br />the first 5 years by 1I60th of the original principal balance of the Loan for each month the Loan is
<br />RFHPMTG.doc 1 Revised Feb 2006
<br />
<br />DL/L
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