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<br />Return recorded mortgage to:
<br />FHLBank Topeka
<br />P.O. Boz 176
<br />Topeka, KS 66601
<br />201io34ss
<br />Subo�dinate Mo�tgage
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<br />THIS 5UBORDINATE MORTGAGE (Mortgage) is made on May 06, 2011 by Matthew R Leffler and Angela K Leffler,
<br />Husband and Wife (Borrower). This Mortgage is given to the Federal Home Loan Bank of Topeka, a corporation organized
<br />and existing under the laws of the United States of America, and whose address is One Security Benefit Pl. Ste. 100, Topeka,
<br />KS 66606, its successors and assigns (Lender). Borrower owes Lender the principal sum of Four thousand and 00/100 Dollars
<br />(LT.S. $ 4,000.00 ). This debt is evidenced by Borrower's note dated the same date as this Mortgage (Note). The Note provides
<br />for no payments if the Borrower complies with the terms of the Note. The loan evidenced by the Note and secured by this
<br />Mortgage (Loan) is being made pursuant to the Affordable Housing Program (AHP) as implemented by Lender (12 U.S.C.
<br />1430(j); 12 CFR Part 1291).
<br />In addition to the Loan, Borrower obtained a mortgage loan (First Mortgage Loan) from Equitable Bank (Senior Lien
<br />Holder), which loan is secured by a first mortgage lien on the Property (First Mortgage). The documents evidencing or
<br />securing the First Mortgage 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
<br />mortgages, grants and conveys to Lender and Lender's successors and assigns, with power of sale, subject to the rights of
<br />Senior Lien Holder under the First Mortgage, the following property, to-wit:
<br />Lot Two (Z), in Block Two (2), in Wiebe's Addition to the City of Grand Island, Hall County, Nebraska
<br />(which has the address of: 809 W Charles St., Grand Island, NE 68801 ), to have and to hold this property unto Lender and
<br />Lender's successors and assigns, forever, all the improvements now or hereafter erected on the property, and all easements,
<br />appurtenances and fixtures now or hereafter a part of the property. All replacements and additions shall also be covered by
<br />this Mortgage. All of the foregoing is xeferred 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
<br />convey the Property and, except for the First Mortgage and other encumbrances of record acceptable to Senior Lien Holder,
<br />the Property is unencumbered. Borrower warrants and will defend generally the title to the Property against a11 claims aad
<br />demands, subject to such encumbrances of record.
<br />1. PAYMENTS. In the case of a sale or refinancing of the Property within five years of the date of the Note (the
<br />Retention Period), an amount equal to a pro rata share of the principal, reduced for every year Borrower owned the
<br />Property, shall be repaid to the Lender from any net gain realized upon the sale or refinancing, unless: (1) the
<br />Property was assisted with a permanent mortgage loan funded by an AHP subsidized advance; (2) the Property is sold
<br />to a very low-, or low- or moderate-income household; or (3) following a refinancing, the Property continues to be
<br />subject to a deed restriction or other legally enforceable retention agreement or mechanism. The Lender will have
<br />ultimate control over any funds repaid by the Borrower pursuant to this section. Lender shaI1 be given notice of any
<br />sale or refinancing of the Property occurring prior to the end of the Retention Feriod. Provided that Borrower
<br />complies with the terms of the Note, the amounts due and payable under the Note shall not become due and payable,
<br />but shall be forgiven as follows: The principal amount of the Loan shall be reduced over the first 5 years by 1/60th of
<br />the original principal balance of the Loan for each month the Loan is outstanding. Such monthly reductions shall take
<br />effect in arraars on the same day of the month the Loan was originally made. The amount of the Loan due and
<br />payable at any time shall be determined after deducting the principal amount of the Loan which has been forgiven by
<br />Lender.
<br />2. SUBORDINATION. This Mortgage is subject and subordinate in all respects to the liens, terms, covenants and
<br />conditions of the First Mortgage and to all advances heretofore made or which may hereafter be made pursuant to the
<br />First Mortgage, including all sums advanced for the purpose of (a) protecting or further securing the lien of the First
<br />Mortgage, curing defaults by Borrower under the First Mortgage or for any other purpose expressly permitted by the
<br />First Mortgage; or (b) constructing, renovating, repairing, furnishing, fixturing or equipping the Property. The terms
<br />and provisions of the First Mortgage are paramount and controlling, and they supersede any other terms and
<br />Revised February 2011
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