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<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.O. Box 176
<br />Topeka, KS 66601
<br />
<br />Subordinate Mortgage
<br />
<br />:l. 0 07055 f:j ;L
<br />
<br />THIS SUBORDINATE MORTGAGE (Mortgage) is made on June 28, 2007. The grantor is Jamie L Peterson, a
<br />sinl!Je person, and Krael Suck, a sine:le person, Jointlv and severallv and each in their own ril!:ht
<br />(Borrower). This Mortgage is given to the Federal Home Loan Bank of Topeka, a corporation organized and existing
<br />under the laws of the United States of America, and whose address is One Security Benefit PI. Ste. 100, Topeka, KS
<br />66606, its successors and assigns (Lender). Borrower owes Lender the principal sum of FOUR THOUSAND AND
<br />00/100 Dollars (U.S. $ 4,000.00 ). This debt is evidenced by Borrower's note dated the same date as this Mortgage
<br />(Note). The Note provides for no payments if the Borrower complies with the terms of the Note. The loan evidenced
<br />by the Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable Housing Program (AHP)
<br />as implemented by Lender (12 U.S.C. 1430(j); 12 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 />LOT NINE (9), IN FRACTIONAL BLOCK TWO (2), IN GILBERT'S ADDITION TO THE CITY
<br />OF GRAND ISLAND, NEBRASKA, AS THE SAME IS SURVEYED, PLATTED AND RECORDED
<br />
<br />(which has the address of: 1108 W 12th St. Grand Island, NE 68803-3725),
<br />to have and to hold this property unto Lender and Lender's.s'uccessors 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. AIl 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 an~ 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 shaIl 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 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 />RFHPMTG.doc 1 Revised Feb 2006
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