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200806437 Return recorded mortgage to: FHLBank Topeka P.O. Box 176 Topeka, KS 66601 Subordinate Mortgage THIS SUBORDINATE MORTGAGE (Mortgage) is made on July 25. 2008. The grantor is Dylan L Skalka and Aneela K Skalka. husband and wife. Jointly and each in their own ril!ht (Borrower). This Mortgage is given to the Federal Home Loan Bank of Topeka, a corporation organized and existing under the laws of the United States of America, and whose address is One Security Benefit PI. Ste. 100, Topeka, KS 66606, its successors and assigns (Lender). Borrower owes Lender the principal sum of FOUR THOUSAND AND 00/100 Dollars (U.S. $ 4,000.00 ). This debt is evidenced by Borrower's note dated the same date as this Mortgage (Note). The Note provides for no payments if the Borrower complies with the terms of the Note. The loan evidenced by the Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable Housing Program (AHP) as implemented by Lender (12 U.S.C. 1430(j); 12 CFR Part 951). In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from TIERONE BANK (Senior Lien Holder), which loan is secured by a first mortgage lien on the Property (First Mortgage). The documents evidencing or securing the First Mortgage Loan are collectively referred to herein as the First Mortgage Loan Documents. This Mortgage secures to Lender the repayment of the debt evidenced by the Note. For this purpose, Borrower irrevocably mortgages, grants and conveys to Lender and Lender's successors and assigns, with power of sale, subject to the rights of Senior Lien Holder under the First Mortgage, the following property, to-wit: Lot Two (2), Block Five (5), Wiebe's Addition to the City of Grand Island, Hall County, Nebraska (which has the address of: 607 W Louise St.. Grand Island. NE 68801-6559), to have and to hold this property unto Lender and Lender's successors and assigns, forever, all the improvements now or hereafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Mortgage, All of the foregoing is referred to in this Mortgage as the Property. Borrower covenants that Borrower is lawfully seized of the estate hereby conveyed and has the right to mortgage, grant and convey the Property and, except for the First Mortgage and other encumbrances of record acceptable to Senior Lien Holder, the Property is unencumbered. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to such encumbrances of record. I. PAYMENTS. The principal of the debt evidenced by the Note shall be due and payable in the event Lender designates a default under the Note. It is a default under the Note if: (a) Borrower (or at least one of borrowers if more than one borrower) does not continue to occupy the Property as Borrower's principal residence; or (b) Borrower transfers the Property to another (other than Senior Lien Holder) without prior notice to Lender. (c) Subsequent owner does not meet AHP income requirements. (d) In the case of a refinancing prior to the end of the term of the Note, an amount equal to a pro rata share of the direct subsidy that financed the purchase, construction, or rehabilitation of the unit, reduced for every year the occupying household has owned the unit, shall be repaid to the Bank, from any net gain realized upon the refinancing, unless the property continues to be subject to a deed restriction or other legally enforceable retention agreement or mechanism. Provided that the Lender does not designate a default under the Note, the amounts due and payable under the Note will be forgiven as follows: The principal amount of the Loan shall be reduced over the first 5 years by 1/60th of the original principal balance of the Loan for each month the Loan is outstanding. Such monthly reductions shall take effect in arrears on the same day of the month RFHPMTG,doc 1 Revised Feb 2006 aKs ~l?