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<br />Return recorded martgage to:
<br />FfILRank Topeka
<br />P.O. .Box 176
<br />'I'opeNca, KS b4G01
<br />Subordinate Mortgage
<br />�_
<br />CC�
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<br />THIS SUB�RDINATE MOR.'i'(iAGE (Mortgage) is made oa� I7ecetnber 17, 201Q by Todd I Crawford, ai1 unmarried individual
<br />(Borrower). T'his Mort�age is given to the l�ederal Ho�ne Loax� Bank of rl'opeka, a corporation organiaed ai�d exisCiiig under the laws
<br />pF ihe United States of Aznerica, aiad whose address is One Security 13enetit PL Ste. 100, Topek�, KS 66606, its successors and assigns
<br />(Lender). Borrower owes Lender the principal sut�1 of Four thousaiad and OU/100 Dollaz�s (U.S. $ 4,000.00 ). `This debt is evidenced by
<br />Borrower's note dated ihe same date as this Mprtgage (Note). 7'he Note provides for no payz�ents if tl�e Borrawer complies with the
<br />terms of the Note. "1"he loan evidenced by the Note and sec�.ired by tliis Mortgage (Loan) is being anade p�irsuaxit to tt�e Affordal�le
<br />Housiug Prograzn (AHP) as implemented by Lende� (12 U.S.C. 1430(j); 12 CFR ['arc 129 I).
<br />In addition ta the Loa��, Barrower obtained a i��ortgage loan (I'irst Mortgage Laan) frati� Equitable Bank (Senior I,ien Holder), whicla
<br />loan is s�cured by a�rst mortgage lien on tl�e Px (First Mort�age). 'The docuznea�ts evidencing or securing th� First Mortgage
<br />Loan are collectively referred to herein as tlte First Mot'tgage I�oan Docuitnents.
<br />This Martgage secures to Lender tlie repaynlent oP tlie debt e��idenc�d by the Note. E�or tliis purpose, Borz i.rrevocably n�oregages,
<br />grants aizd conveys to Lender and I.ender's successors �rid assi�ns, witl� power af sale, subjecl to the riglits of Setiior Lien I-iolder
<br />under the'Firsc Mortgage, the f'allowing property, to-wit:
<br />LOT TWFN'TY (20), BI,OC'K FOUR (�1), MORIZIS SECONU ADDIT[C]N TO'l'H� C17'Y OF GRAND ISI,AND, HALCM COUN"I'Y,
<br />NEBRASKA
<br />(wliich l�as the address of: _312 E 17t}a St, Gra��d Island, NE 688U1 ), to have and to liold this property unto I.ender and Lencier's
<br />successors and assigns, forever, all the improveinents now or hereafter erectecl on tlie praperty, and all easeinents, appurtenances and
<br />fixtures �taw or hereafter a part oE the property. All reE�lacei�ients aud additious shall also be covered by this Mortgage. Al] of the
<br />foregoing is referred to i�► tl�is Mortgage as the Property.
<br />Bvrrower covenants that Borrower is lawfully seized of the estate k►ereby conveysd and lias the right to mortgage, grant ai�d convey
<br />tha Property and, except for tl�e First Mortgage aud otl�er encu��hrances of recox�d acceptable to Senior .I�ien �3older, the Property is
<br />unencurnbered. Borrower warrants and will defend ge�aerally tlz� title to the Praperty against a1l claims and demands, subject to such
<br />encumbrances of recard.
<br />1. PAYMEN'TS. The principal of itae debt evidenced Uy ttie Note sl�all be due and payable in tl�e event I.sender desi�;naCes a
<br />deFault under the Note. It is a default under Che Note if: (a) I3orrower (or at least oaie of t1�e borrowers i#' more than one
<br />b�rrower) does not catitinue to occupy tlte Properly as I3orrowcr's principal residezace; (b) Borrower transfers the Property to
<br />anotlaer (other tlian Senior Lien Holder) witk►4►it prior notic� Co Le�:�cler; (c) the subseque►7t ow��er does not mest AHP income
<br />require��ients; or (d) tl�e F3orrower Pails tc� comply with tl�e regulations of tl�e Federal Housing �inance Ageiicy (or any
<br />successor) pertaini�lg co AHP. In tt�e case of a refi��ancing prior to the ei�d oF tl�e tenn of Clie Note, an amourlt equal to a pro
<br />rata share of the direct subsidy that £inanced t1�e ��urcliase, cc7ristructioii, or rel�abilitatio��. c�f tl�e unit, reduced for �very year
<br />tlie occupying household has owxaed the unit, sl�all be rek�aid to tlze Lendez fron� any net gain realized �.ipan the refinancing,
<br />unless the propercy continues ta be subject to a deed restriction or ot}�er legally enforceable retention agree�nent or
<br />zttechanisin. Provided that tl�e Lender does ��ot desigr�ate a default under the Note, the arno�izats due a�id payable under the
<br />Note will be forgiven as follows: Tlie principal amou��t nf the I.oan slaall be reduced over tl�e first S years by i/60t1i of the
<br />original principal balaz�ce of tkie Loan for eacli montk� the Loan is outstanding. Such ��ionthly reciuctions slaall Cake effect in
<br />arrears on tlie sdme day of tlae moilkta the Loan w1s originally rnade. In tlie evex�t oF foreclosure the full amount of tl�e
<br />principal xemaining due sliall be fargiv�n.
<br />2. DESIGNATION OF DF..FAUI.,T AND REMEDIES. Lender shall give notice to �3orrower ax�d 8enior Lien E�older prior to
<br />a d�signation of a default under the Nc�te. 'I'I�e notice shall specify: (a) the default; (b) tl�e acti��n required to cure the default;
<br />(c) a date, not less t}�an 3Q days from the date the notice is �iveil to I3ozrower (and witl� respect to Senior I.,ien Holder, 6Q
<br />days from the date tlxe notice is givett to Setaior Li�a� f�older), by wl�ich ttie default must be cured; and (d) that kailure to cure
<br />Rev�sed September 2, 20�.Q
<br />�age 1 0� 2
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