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<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.O. Box 176
<br />Topeka, KS 46601
<br />Subordinate Mortgage
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<br />THIS SUBORDINATE MORTGAGE (Mortgage) is made on June 22, 2010. The grantor is Andrew K Haney, an unmarried
<br />individual (Borrower). This Mortgage is given to the Federal Home Loan :Bank of Topeka, a corporation organized and existing under
<br />the laws of the United States of America, and whose address is One Security Benefit Pl. Ste. 100, Topeka, KS 66606, its successors
<br />and. assigns (Lender). Borrower owes Lender the principal sum of Four Thousand and 00/100 Dollars (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 far no payments if the Borrower
<br />complies with the terms of the Note. '1"he 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 the 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 mortgages,
<br />grants and conveys to Lender and Lender's successors and assigns, with power o£ sale, subject to the rights of Senior Lien Holder
<br />under the First Mortgage, the following property, to-wit:
<br />LOT ONE (1), BLOCK TWENTY FOUR (24), BAKER'S ADDITION TO THE CITY OF GRAND IShANIa, HAL.,Ia COUNTY,
<br />NEBRASKA.
<br />(which has the address of: 2203 W 1st St., Grand Island, NE 68803 ), 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. PAYMENTS. 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 />does 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 awned 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. Such 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 frill 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 Holder 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 />Revised Feb 2006
<br />Page 1 ~f 2
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