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<br />200802593
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<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.O. Box 176
<br />Topeka, KS 66601
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<br />Subordinate Mortgage
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<br />THIS SUBORDINATE MORTGAGE (Mortgage) is made on March 27. 2008, The grantor is Shawn P Thoene. a
<br />Sine:le Person (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
<br />FOUR THOUSAND AND 00/100 Dollars (U,S, $ 4.000.00), This debt is evidenced by Borrower's note dated the
<br />same date as this Mortgage (Note), The Note provides for no payments if the Borrower complies with the terms of
<br />the Note, The loan evidenced by the Note and secured by this Mortgage (Loan) is being made pursuant to the
<br />Affordable Housing Program (AHP) as implemented by Lender (12 U.S,C, 1430(j); 12 CFR Part 951),
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<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,
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<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:
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<br />Lot Three (3), Block Four (4), Boggs and Hill's Addition to the City of Grand Island, Hall County,
<br />Nebraska
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<br />(which has the address of: 2015 W 12th St. Grand Island. NE 68803-3720),
<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,
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<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,
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<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 to the Bank, from any net gain realized upon the refmancing,
<br />unless the property continues to be subject to a deed restriction or other legally enforceable retention
<br />agreement or mechanism, Provided that the Lender does not designate a default under the Note, the
<br />amounts due and payable under the Note will be forgiven as follows: The principal amount of the Loan
<br />shall be reduced over the first 5 years by 1/60th of the original principal balance of the Loan for each month
<br />the Loan is outstanding, Such monthly reductions shall take effect in arrears on the same day of the month
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<br />RFHPMTG.doc
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<br />1
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<br />Revised Feb 2006
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