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2Q��05�9� <br />complies with the terms of the Note, the amounts due and payable under the Note shall not <br />become due and payable, but shall be forgiven as follows: The principal amount of the <br />Loan shall be reduced over the first 5 years by 1/60th of the original principal balance of the <br />Loan for each month the Loan is outstanding. Such monthly reductions shall take effect in <br />arrears on the same day of the month the Loan was originally made. The amount of the <br />Loan due and payable at any fime shali be determined after deducting the principal <br />amount of the Loan which has been forgiven by Lender. <br />2. SUBORDINATION. This Mortgage is subject and subordinate in all respects to the liens, <br />terms, covenants and conditions of the First Mortgage and to all advances heretofore <br />made or which may hereaffer be made pursuant to the First Mortgage, including all sums <br />advanced for the purpose of (a) protecting or further securing the lien of the First Mortgage, <br />curing defaults by Borrower under the First Mortgage or for any other purpose expressly <br />permitted by the First Mortgage; or (b) conslructing, renovating, repairing, fumishing, <br />f�Cturing or equipping the Properly. The terms and provisions of the Frst Mortgage are <br />paramount and controlling, and they supersede any other terms and provisions hereof in <br />conflict therewith. In the event of foreclosure or deed-in-lieu of foreclosure of the First <br />Mortgage, or if the First Mortgage is assigned to the Secretary of the U.S. Department of <br />Housing and Urban Development, any provisions herein or any provisions in any other <br />coliateral agreement restricting the use of the Property or otherwise restricting Borrower's <br />ability to sell the Properfy shall have no further force or effect on subsequent owne�s or <br />purchasers of the Property. Any person, inciuding his successors or assigns (other than <br />Borrower or a related entity of Borrower}, receiving title to the Property through a foreclosure <br />or deed-in-lieu of foreciosure of the First Mortgage, or through the assignment of the First <br />Mortgage to the Secretary of the U.S. Department of Housing and Urbon Development, shall <br />receive title to the Property free and clear from such restrictions. <br />3. NOTICES. Any notice to Barrower provided for in this Mortgage shall be given by delivering <br />it or by mailing it by first class maii unless applicable law requires use of another method. The <br />notice shall be directed to the Property Address or any other address Borrower designates <br />by notice to the Lender. <br />4. RELEASE. Upon safisfaction of all sums secured by this Mortgage {whether by payment or <br />forgiveness), Lender shall release this Mortgage without chorge to Borrower. Borrower shall <br />pay any recordation costs. <br />5. MODIFICATIC�N OF FIRST MORTGAGE LOAN DOCUMENTS. The Lender consents to any <br />agreement or arrangement in which Senior Lien Holder waives, postpones, extends, reduces <br />or modi�es any provisions of the First Morfgage Loan Documents, including any provisions <br />requiring the payment of money. <br />IN WITNESS WHEREOF, Borrower has executed this Mortgage. <br />Borrower: ���--�� BoROwer: Q�_ <br />Erik J Hansen Kayla A ansen <br />STA7E OF NEBRASKA ) <br />j ss. <br />COUNTY OF HALL � <br />The foregoing insfrument was acknowledged before me on this 8th day of July, 2011, <br />by Erik J Hans d Kayla A Hansen, Husband and Wife. <br />� <br />Notary Public � <br />My Commission Expires: ��/y'�" �'-�' �nN onnna� <br />� ►�y Comm. Exp. May 19, 2Dt3 <br />