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<br />200705334
<br />
<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.O. Box 176
<br />Topeka, KS 66601
<br />
<br />~
<br />
<br />Subordinate Mortgage
<br />
<br />THIS SUBORDINATE MORTGAGE (Mortgage) is made on June 25, 2007. The grantor is Laramie J. Lingeman, a
<br />Single Man and Danielle L. Nordhues, a Single Woman (Borrower). This Mortgage is given to the Federal Home
<br />Loan Bank of Topeka, a corporation organized and existing under the laws of the United States of America, and
<br />whose address is One Security Benefit PI. Ste. 100, Topeka, KS 66606, its successors and assigns (Lender).
<br />Borrower owes Lender the principal sum of Four thousand and no/100 Dollars (V.S. $ 4,000.00). 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 V.S.C. 14300); 12
<br />CFR Part 951).
<br />
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from Five Points Bank (Senior
<br />Lien Holder), which loan is secured by a first mortgage lien on the Property (First Mortgage). The documents
<br />evidencing or securing the First Mortgage Loan are collectively referred to herein as the First Mortgage Loan
<br />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 />Lot Three (3), Block Seven (7), in Woodbine Addition to the City of Grand Island, Hall County, Nebraska.
<br />
<br />(which has the address of: 2115 W. Division St., 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 />
<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 ofrecord.
<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 />
<br />Revised Feb 2006
<br />
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