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� O�� 0� o�� Return recorded martgage ta: FH48ank Topeka P.O. Box 176 Topeka, KS 66601 Subordinate Mortgage S SUBORDINATE MORTGAGE (Mortgage) is made on May 27, 2011 by Jared M loudy, A Married Person, and also �ed by .)ean M Loudy, His Spouse (Barrower). This Mortgage is given to the Federal Home Loan Bank of Topeka, a poration organized and existing under the laws of the United States af America, and whose address is One Security �efit PI. Ste. 100, Topeka, KS 66606, its successors and assigns (Lender). Borrower owes Lender the principal sum of r Thousand and 00/100ths Dollars (U.S. $4,000.00). This debt is evidenced by Borrower's note dated the same date his Mortgage (Note). The Note provides for no payments if the Borrower complies with the terms of the Note. The evidenced by the Note and secured by this Mortgage (Loan) is being made pursuant to the Affordable Housing ram (AHP� as implemented by Lender (12 U.S.C.1430(j);12 CFR Part 1291). In � ddition to the Loan, Borrower obtained a mortga$e loan (First Mortgage Loan� ftom Home Federal Savings & Loan As of Grand lsland (Senior Lien Hotder�, which loan is secured by a f+rst mortgage {ien on the Property (First M gage). The documents evidencing or securing the First Mortgage Loan are collecCively referred to herein as the Fi Mortga�e 4oan Documents. Th' Mortgage secures to Lender the repayment of the debt evidenced by the Note. For this purpase, Borrower irr ocably mortgages, grants and conveys to Lender and Lender's successors and assigns, with power of sale, subject to e rights of Senior Lien Ho{der under the First Mortgage, the following property, to-wit: Lot Seventy Nine (79), in Hagges' Subidivision in the City of Grand Isfand, Hall County, Nebraska. (w ch has the address of: 1419 Hagge Ave — Grand Island, NE 68801), to ve and to hold this property unto Lender and Lender's successors and assigns, forever, all the impravements now or reafter erected on the property, and all easements, appurtenances and fixtures now or hereafter a part of the pr erty. AU replacements and additions shall also be covered by this Mort�age. All of the foregoing is referred to in thi ortgage as the Property. �wer covenants that Burrower is lawfully seized of the estate hereby conveyed and has tMe right to mortgage, and convey the Property and, except for the First Mortgage and other encumbrances of record acceptable ta r Lien Holder, the Property is unencumbered. Borrower waarrants and wil{ defend general{y the titfe to the �rty a�ainst all claims and demands, subject to such encumbrances of record. 1. PAYMENTS. In the tase of a sale or refinancing ofthe Property within five years of the date ofthe Note (the Retention Period�, an amount equal to a pro rata share of the principal, reduced for every year Borrower owned the Property, shall be repaid to the Lender from any net gain realized upon the sale or refinancing, unless: (1) the Property was assisted with a permanent mortgage loan funded by an AHP subsidiaed advance; (2) the Property is sotd to a very low-, or low- or moderate-income household; or (3) fiollowing a refinancing, the Properly continues to be subject to a deed restriction ar other legally enforceable retention a�reement or mechanism. the Lender will have ultimate controi over any funds repaid by the Borrower pursuant to this Revised February ZOli