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<br />Return recorded mortg�ge to:
<br />FHI�Bank Topeka
<br />P.O. Bax 17b
<br />Topeka, KS bG601
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<br />Subordznate Mortgage
<br />TH1S SUBORDINATE MORTGAGE (Mortgage) is made on October 14, 2010 by Tasha M Birch, an unmarried individual
<br />(Borrower). This Martgage is given to the Federal Home Loan Bank of Topeka, 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, Topeka, KS 66606, its successors and assigns
<br />(Lender). Borrower owes Lender the principal sum of Four Thousand and 00/100 Dollars (U.S. $4,00�.00 ). This debt is evidenced by
<br />Borrower's note dated the same date as this Mortgage (Note). The Note provides for no payments if the Borrower coanplies with the
<br />terms of the Note. `I'he loan evidenced by the Note and secured by this Mortgage (L,oan) is being made pursuant to the Aff'prdable
<br />Housing Program (AHP) as implemented by Lender (12 U.S.C. 1430(j); 12 CFR Part 1291).
<br />In addition to the Loan, �orrower 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 (Fit'st Mortga�e). `I'he documents evidencing or securing the Firsl Mortgage
<br />Loan are collectively referred to herein as the First Mortgage Laan 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 assi�ns, with power of sale, subject to the rights of Senior Lien Holder
<br />under the First Mort�age, the following property, to-wit:
<br />Lot Four (4), Block Eighty Nine (89), Whaeler and Bexuxett's Fourth Additiot� to the City of Grand Island, Hall County, Nebraska.
<br />(which has the address of: 107 E 17th 5t, Grand Island, N� 68801 ), to have and to hold this property unto Lender and Lender's
<br />successors and assigns, forever, all the improvements now or hereaft�r erected on the property, and all easements, appurtenances and
<br />fixtures now ar hereaftear a part of the property. All replacements and additions shall also be covered by this Mort�age. All of the
<br />for�going 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 recard 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 />2. DESIGNAT'lON OP DEFAULT AND REMEDIES. Lender shall give notice to Borrower and Senior Lien Halder 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 ta Borrower (and with respect to Senior Lien Holder, h0
<br />days from the date the notice is given to Senior Lien Holder), by which the de£ault 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 />Revi.sed September 2, 2010
<br />1. PAYMENTS. The principal of the debt evidenced by the Note shall be due and payable in tlie event J�ender designates a
<br />default under the Note. It is a default under the Note if: (a) Borrower (or at least one of t1�e borrowers if more than one
<br />borrower) does not continue to occupy the Property as Borrower's principal residence; (b) Borrower transfers the Property to
<br />another (other than Senior Lien Holder) withaut prior notice to Let�der; (c) the subsequent owner does not meet AHP income
<br />requirements; or (d) the Borrower fails to camply with the regulations of the Federal Housing Finance Agency (or any
<br />successor) pertaining to AHP. In the case of a re�nancing prior to the end of the term of the Note, an amount equal to a pro
<br />rata share of the direct subsidy that �nanced the purchase, construction, or rehabilitation af the unit, reduced for every year
<br />the occupying household has owned the unit, shall be repaid to the Lender, from any net gain realized upon the refinancing,
<br />unless the property continues to be subject to a deed restriction or otl�er legally enforceable retentio�� agreement nr
<br />mechanism. Provided that the Lender does not designate a default under the Note, the amounts due and payable under the
<br />Note will be forgiven as fallows: The principal amount of the Loan shall be reduced over tl�e first 5 years by 1/60th of the
<br />original principal balance of the Lvan for each month the Loan is outstanding. Such monthly reductions shall take e£fect in
<br />arrears on the same day of the month the Loan was originally made. In the event of foreclosure the full amount of tlie
<br />._ principal remaining due shall be forgiven.
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