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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 SUBORUINA'T'F.', .MOR'TGAGE (Mortgage) is made on May 21, 2010. The grantor is Kristen Zwick, an unmaz-ried individual
<br />(Borrower). This Mortgage is given to the Federal Home Loan Bank of 'T'opeka, a corporation organized and existing under the laws
<br />of the United States of America, and whose address is One Security Benefit Pl. Ste. 100, 7bpeka, KS 66606, its successors and
<br />assigns (Lender). Borrower owes Lender the principal sum of Four Thousand and 00/1.00 I.7ollars (U.S. $4,000.00 ). This debt is
<br />evidenced by Borrower's note dated the same date as this Mortgage (Note). The Note provides for no payments if the Borrower
<br />complies with the terms of the Note. The loan evidenced by the Note and. secured by this Mortgage (Loan) is being made pursuant to
<br />the Affordable Housing Program (AHP) as implemented by Lender (12 U.S.C. 1430(j); 12 CFR Part 951).
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from Equitable Bank (Senior Lien Holder), which
<br />loan is secured by a first mortgage lien on the Property (First Mortgage). The documents evidencing or securing t}re First Mortgage
<br />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 irrevocably martgages,
<br />grants and conveys to Lender and Lender's successors and assigns, with power of sale, subject to the rights of Senior Lien Holder
<br />under the First Mortgage, the following property, to-wit:
<br />LOT EIGHT (8), JAMSON SUBDIVISION, IN 'I'HIu CITY OF GRAND ISLAND, IIALL COUNTY, NEBRASKA
<br />(which has the address of: 414 E Delaware Ave Grand Island NE 68801 ), to have and to hold this property unto Lender and Lender's
<br />successors and assigns, forever, all the improvements now or hereafter erected on the property, and all easements, appurtenances and
<br />fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by this Mortgage. All of the
<br />foregoing is referred 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, grant and convey
<br />the Property and, except for the First Mortgage and other encumbrances of record acceptable to Senior Lien Holder, the Property is
<br />unencumbered. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to such
<br />encumbrances of record.
<br />1. PAYMENT'S. The principal of the debt evidenced by the Note shall be due and payable in the event Lender designates a
<br />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)
<br />lees not continue to occupy the Property as Borrower's principal residence; or (b) Borrower transfers the Property to another
<br />(other than Senior Lien Holder) without prior notice to Lender. (c) Subsequent owner does not meet AHP income
<br />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
<br />the direct subsidy 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 refinancing, unless the
<br />property continues to be subject to a deed restriction or other legally enforceable retention agreement or mechanism.
<br />Provided that the Lender does not designate a default under the Note, the amounts due and payable under the Note will be
<br />forgiven as follows: The principal amount of the Loan shall be reduced over the first 5 years by 1/60th of the original
<br />principal balance of the Loan for each month the Loan is outstanding. Suclr monthly reductions shall take effect in arrears on
<br />the same day of the month the Loan was originally made. In the event of foreclosure the full amount of the principal
<br />remaining due shall be Forgiven.
<br />2. DESIGNATION OF DEFAULT AND REMEDIES. Lender shall give notice to Borrower and Senior Lien. Haller prior to
<br />a designation of a default under the Note. The notice shall specify: (a) the default; (b) the action required to cure the default;
<br />(c) a date, not less than 30 days from the date the notice is given to Borrower (and with respect to Senior Lien Holder, 60
<br />days from the date the notice is given to Senior Lien Holder), by which the default must be cured; and. (d) that failure to cure
<br />the default on or before the date specified in the notice may result in designation of a default under the Note and the sale of
<br />the Property. The notice shall further inform Borrower of the right to reinstate after designation of a default and the right to
<br />bring a court action to assert the non-existence of a default or any other defense of Borrower to a designation of default and
<br />Revised Feb 2p06
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