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<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.O. Box 176
<br />Topeka, KS 66601
<br />Subordinate Mortgage
<br />THIS SUBORDINATE MORTGAGE (Mortgage) is made on __ April 30th 2010 .The grantor is
<br />Dennise B Akins. a sinsle person
<br />(Borrower).
<br />This Mortgage is given to the Federal Home Loan Bank of Topeka, a corporation organized and existing under the
<br />laws of the United States of America, and whose address is One Security Benefit PL Ste. 100, Topeka, KS 66606,
<br />its successors and assigns (Lender). 13arrower awes Lender the principal sum of Four Thousand and 00/100
<br />Dollars (U.S. $ 4,000.00 ),
<br />This debt is evidenced by Borrower's note dated the same date as this Mortgage (Nate). The Note provides for no
<br />payments if the Borrower complies with the terms of the Note. The loan evidenced by the Note and secured by this
<br />Mortgage (Loan) is being made pursuant to the Affordable Housing Program (AHP) as implemented by Lender (12
<br />U.S.C. 1430(j); 12 CFR Part 9S 1).
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from CharterWest National
<br />Bank
<br />(Senior Lien Holder),
<br />which loan is secured by a first mortgage lien on the Property (First Mortgage). The documents evidencing or
<br />securing the First Mortgage Loan are collectively referred to herein as the First Mortgage Loan Documents.
<br />This Mortgage secures to Lender the repayment of the debt evidenced by the Nate. 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 />The South Half (Sl/2) of Lot Eight (S), Block Two (2), in Wiebe's Addition to the City of Grand Island, Hall
<br />County, Nebraska.
<br />(which has the address of: 422 S Eddy St Grand Island , NE 68801 )
<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
<br />the property. All replacements and additions shall also be covered by this Mortgage. All of the foregoing is referred
<br />to in this Mortgage as the Property.
<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 far 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 />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
<br />of borrowers if mare 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
<br />subsidy that financed the purchase, construction, or rehabilitation of the unit, reduced for every year the
<br />occupying household has owned the unit, shall be repaid to the Bank, from any net gain realized upon the
<br />refinancing, unless the property continues to be subject to a deed restriction or other legally enforceable
<br />retention agreement or mechanism. Provided that the Lender does not designate a default under the Note,
<br />the amounts due and payable under the Note will be forgiven as follows: The principal amount of the
<br />Loan shall be reduced over the first 5 years by 1/6pth of the original principal balance of the Loan for each
<br />12857.CV (5/09) 903710
<br />Page 1 of 3
<br />Revised Feb 2006
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