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<br />Return recorded mortgage to:
<br />TIILBank Topeka
<br />P.O. Box l76
<br />Topeka, KS 66G�1
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<br />Subordinat�e Mortgage
<br />THIS SUBORDINA'I'E MOIt'I'GAGE (Mortgage) is made on December 16, 2010 by AN.UREW R AI7AMS and TISHA M LEE,
<br />each a single person (Borrower). This Mortgage is �;iven to tl.�e Federal IIome I ,oatz Rat�k of 'I'opeka, a corporation nr�anized and
<br />exisCing under the laws of the United States of America, and whose address is One Security Benefit P1. Ste. 100, Topeka, KS 6C�06,
<br />its successors and assigns (Lender), Borrower owes Lender the principal sum of Four thousand and 00/100 Dollars (U.S. $4,000.00 ).
<br />This debt is evidenced by �orrc�wer's note clated the same date aq tl�is Mortgage (Note). The Nole provides for no payments if the
<br />Borrower complies with t1�e terms of the Note. The loan evideziced by the .Note and secured by this Mortgage (Loan) is being made
<br />pursuant to the Affordable Housing Program (�1HP) as implemented by Lender (12 U.S.C. 1�330(j); 12 CFR Part 1291).
<br />In addition to the Lpan, Borrower obtained a znortgage loan (First Mortgage Loan) from �quitable I3ank (Senior I.ien Holder), which
<br />loan is secured by a first rnortgage lian on the 1'roperty (First Mortgage). The documents evidencing or securing tlie First Mortgage
<br />Loan are collectively referred to herein as the First Mortgage Loan Docutnents.
<br />This Mortgage secures to Lender the rEpayment of the debt evidenced by the Note. For t11is purpose, Borrower irrevocably mc�rt�ages,
<br />grants and epnveys to Lender and l..ender's 5uccessars and assigzas, with power c�f sale, subject to tl�e rights of Senior Lien Holder
<br />under the First Mortgage, the followiz�g �roperty, to-wit:
<br />I.OT THREE (3) AND I'H�, NORTH TWO (2) FEE'J' nF I.,qT FIVE (5), IN BI.00K TWENTY-TWO (22), lN C'OL�I,E;GE
<br />ADDI1'ION TO WEST LAWN,IN 'I'HE CI'I'Y OF GREIND IS[,ANl7, HALL COUNTY, NEF3RASKA
<br />(which has the address of: 2136 PAIZK AV�, Grand Island, NE C>8803 ), to have and to hold this property unta Lender and .[.ender's
<br />successors and assi�ns, forever, all the im�rovements i�ow ��r hereafter erected on the property, and all easements, appurtenances and
<br />fixtures now or hereaf'ter a part of the properCy. All replaeemenCs and additic�ns shall also be cc>vered by this Mortgage. �111 of t}ie
<br />foregoing is referred to in this Mortgage as the Property.
<br />Borrower covenants lhat Borrower is lawfully seized of the estate hereUy conveyed and has the right to mortgage, grant and convey
<br />tl�e Prqperty and, except for the First Mortgage and other encumbrances of record acceptable to Senior Lien IIolder, tlie Property is
<br />unencumbered. Borrower warrants and will defend generally the title to tlie Property against all clain�.s and d�mands, subject to such
<br />encumbrances of record.
<br />1. PAYMF:NTS. The principal oF Che debt evidenced by the Note shall be due and payablc in tlie event Lender clesignates a
<br />default under the Note. It is a default under the Note if: (a) Borrower (pr ac leflst one of the borrowers if more than one
<br />bqrrower) does nnt contir�ue to occupy the Property as k3orrc7wer's principal residence; (b) Borrowec transfers the Property to
<br />anc7ther (other tl�an Senior l.,ien Holder) withput prior notice to Lender; (c) the subsequent owner does not meec AHP income
<br />requirements; or (d) the Borrower fails to comply with the regulations of the Federal Housi��g Finance Agea�cy (or auy
<br />successor) pertainin� to AHP. In the case of a rernanci�ig prior to the end of the tenn of the Note, an amount equal to a pro
<br />rata share of the direct subsidy th.at financed tlte purchase, construction, ar rehabilitation of the uz�it, reduced for every year
<br />the occupyin� household has owned the unit, shall be repaid to the Lender, from any net �ain realized upon the refinancing,
<br />unless the property continues to be subject to a deed restricCion or other legally enforceable retention agrcement or
<br />mechanism. Provided that the Lender does not designate a default under ttie Note, the amounts due and payable under the
<br />Note will be for�iven as follows: The principal amount c�f the l,oan shall be reduced over the first 5 years Uy 1/60th of the
<br />original principal balance of the Loan for each ct�onth the Loan is outstanding. Sucl� znonthly reductions shall kake effect in
<br />arcears on the same day of the mont}� the Loan was originally made. [n the event of foreclosure the full amount ol ttie
<br />pria�cipal remaining due shall be forgiven.
<br />2. DESIGNA`I'ION (�F DEFAULT AND REMBDI�S. Lender shall give notice to Borrower and Senior Lien Hnlder prior to
<br />a d�signation of a default under the Note. 'I'he nolice shal] specify: (a) the default; (b) the action required to cure the default;
<br />(c) a daCe, not less than 30 days from the date tl�a notice is given to Borrower (attd with respect to Senior Lien Holder, FO
<br />days from the date the notice is given to Senior Lien Holder), by which tkie d�fault must be cured; and (d) that failure to cuce
<br />Revised September 2, 2010
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