|
.
<br /> r~.
<br />~
<br />~
<br />~
<br />
<br />~ ~ ~-I
<br />W ~~,.
<br />~a ~..
<br />....~ ~.
<br />~• ~wr ~
<br />~..^
<br />~.
<br />~~
<br />~~
<br />.~~ y
<br />
<br />~~
<br />n
<br />~~
<br />d
<br />m
<br />~~ ~~ .
<br />~,
<br />rr,
<br />rT~
<br />rv
<br />~ c a c,F>
<br />~ ~
<br />~ ~
<br />~a ~ m
<br />--c ~
<br />-~ c,
<br />c.~
<br />coo
<br />c~ '*~
<br />_*, - ~.
<br />~~ r~ 1
<br />n rx~
<br />r-^ :.~
<br />r-- zr
<br />to
<br />--~r--
<br />o
<br />rn
<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.O. Box 17b
<br />Topeka, KS b6601
<br />Subordinate Mortgage
<br />THIS SUBORDINATE MORTGAGE (Mortgage) is made on May 7th 2010 .The grantor is
<br />Matthew C Fleming and Amber L Flemine. husband and wife
<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). Borrower owes Lender the principal sum of Two Thousand and 00/100
<br />Dollars (U.S. $ 2,000.00 ).
<br />This debt is evidenced by Borrower's note dated the same date as this Mortgage (Note). 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 951).
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from CharterWest National
<br />Bank (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 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 />The Southerly 2.50 Feet of Lot Thirteen (13) and all of Lot Fifteen (15), in Block Ten (10), in University
<br />Place, an Addition to the City of Grand Island, Hall County, Nebraska, and that part of Vacated Prospect
<br />Street more particularly described in Oridinace No. 4979, filed February l 1, 1971 in Book 21, Page 441
<br />(which has the address of: 2204 N Howard Ave Grand island , NE b8803 )
<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 ar 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 anal, 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.
<br />1. PAYMENTS. The principal of the debt evidenced by the Nate 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 more than one borrower) does not continue to occupy the Property as Borrower's principal
<br />residence; ar (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 rehabiNtation 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 /60th of the original principal balance of the Loan for each
<br />12857.CV (5/09) 903711
<br />Page 1 of 3
<br />Revised Feb 2006
<br />m
<br />a ~
<br />_.g
<br />rv ~
<br />~ ~
<br />O
<br />r--+ ]~
<br />o ~
<br />~ ~
<br />W ~
<br />F--+ C
<br />f__,, rn
<br />z
<br />D
<br />~-.
<br />~~
<br />~~,
<br />coTO(noof7e7a)
<br />
|