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20�1055�� <br />under the Note shall not 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 Loan for each <br />month the Loan is outstanding. Such monthly reductions shall take effect in arrears on the same day of the <br />month the Loan was originally made. The amount of the Loan due and payable at any time shall be determined <br />after deducting the principal 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, terms, covenants <br />and conditions of the First Mortgage and to a11 advances heretofore made or which may hereafter be made <br />pursuant to the First Mortgage, including all sums advanced for the purpose of (a) protecting or further <br />securing the lien of the First Mortgage, curing defaults by Borrower under the First Mortgage or for any other <br />purpose expressly permitted by the First Mortgage; or (b) constructing, renovating, repairing, furnishing, <br />fixturing or equipping the Property. The terms and provisions of the First Mortgage are paramount and <br />controlling, and they supersede any other terms and provisions hereof in conflict therewith. In the event of <br />foreclosure or deed-in-lieu of foreclosure of the First Mortgage, or if the First Mortgage is assigned to the <br />Secretary of the U.S. Department of Housing and Urban Development, any provisions herein or any provisions <br />in any other collateral agreement restricting the use of the Property or otherwise restricting Borrower's ability <br />to sell the Property shall have no fiurther force or effect on subsequent owners or purchasers of the Properly. <br />Any person, including his successors or assigns (other than Borrower or a related entity of Bonower), <br />receiving title to the Property through a foreclosure or deed-in-lieu of foreclosure of the First Mortgage, or <br />through the assignment of the First Mortgage to the Secretary of the U.S. Department of Housing and Urban <br />Development, shall receive title to the Property free and clear from such reslrictions. <br />3. NOTICES. Any notice to Borrower provided for in this Mortgage shall be given by delivering it or by <br />mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed <br />to the Properly Address or any other address Borrower designates by notice to the Lender. <br />4. RELEASE. Upon satisfaction of all sums secured by tlus Mortgage (whether by payment or forgiveness), <br />Lender shall release this Mortgage without chazge to Bonower. Borrower shall pay any recordation costs. <br />5. MODIFICATION OF FIRST MORTGAGE LOAN DOCUMENTS. The I,ender consents to any agreement <br />or arrangement in which Senior Lien Holder waives, postpones, extends, reduces or modifies any provisions of <br />the First Mortgage Loan Documents, including any provisions requiring the payment of money. <br />IN WITNESS WHEREOF, Bortower has executed this Mortgag <br />Borrower. �- Borrow . <br />Nicholas J Mohr dy R Mohr ` <br />STA'Y'E OF Nebraska ) <br />) ss. <br />COUNTY OF Hall ) <br />The foregoing instrument was acknowledged before me on this 27 day of July 2011 <br />by Nicho J Mohr and Brandy R Mohr, Husband and Wife. <br />� � <br />> <br />No Public (seal) <br />My Commission Expires: J� I��l �'— � Npy � <br />_ My Comm. Exp. May 16, 2012 <br />2 <br />