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SUBORDINATE MORTGAGE
<br />THIS SUBORDINATE MORTGAGE ( "Security Instrument ") is given on July 2002.
<br />The Mortgagor is ANDREW J. WALTERS AND SHERRI A. WALTERS, HUSBAND AND WIFE whose
<br />address is 417 NORTH DARR, GRAND ISLAND, NE 68803.
<br />This Security Instrument is given to the Secretary of Housing and Urban Development, and whose address is
<br />451 Seventh St. SW, Washington, DC 20410. Borrower owes Lender the principal sum of:
<br />TWO THOUSAND FIVE HUNDRED FIFTY EIGHT AND 94/100 DOLLARS (U.S. $2,558.94) This debt is
<br />evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which provides for the full
<br />debt, if not paid earlier, due and payable on AUGUST 1, 2027.
<br />This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, and all renewals,
<br />extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under Paragraph
<br />7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and
<br />agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, warrant,
<br />grant and convey to the Lender, with power of sale the following described property located m HALL COUNTY,
<br />NEBRASKA.
<br />LOT SEVEN (7), IN BLOCK ELEVEN (11), PACKER AND BARR'S ADDITION TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Which has the address of 417 NORTH DARR, GRAND ISLAND, NE 68803.
<br />TOGETHER WITH 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
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to
<br />mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any
<br />encumbrances or record.
<br />Page 1 of 3
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<br />Commercial Federal Bank
<br />10845 Harney Street
<br />Omaha, NE 68154
<br />Attu: Walter Hess
<br />FHA Cue No. 321- 187694 -704°
<br />fxwa Above
<br />Thk I.ine fie, Rmordiaa Octal
<br />SUBORDINATE MORTGAGE
<br />THIS SUBORDINATE MORTGAGE ( "Security Instrument ") is given on July 2002.
<br />The Mortgagor is ANDREW J. WALTERS AND SHERRI A. WALTERS, HUSBAND AND WIFE whose
<br />address is 417 NORTH DARR, GRAND ISLAND, NE 68803.
<br />This Security Instrument is given to the Secretary of Housing and Urban Development, and whose address is
<br />451 Seventh St. SW, Washington, DC 20410. Borrower owes Lender the principal sum of:
<br />TWO THOUSAND FIVE HUNDRED FIFTY EIGHT AND 94/100 DOLLARS (U.S. $2,558.94) This debt is
<br />evidenced by Borrower's note dated the same date as this Security Instrument ( "Note "), which provides for the full
<br />debt, if not paid earlier, due and payable on AUGUST 1, 2027.
<br />This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, and all renewals,
<br />extensions and modifications of the Note; (b) the payment of all other sums, with interest, advanced under Paragraph
<br />7 to protect the security of this Security Instrument; and (c) the performance of Borrower's covenants and
<br />agreements under this Security Instrument and the Note. For this purpose, Borrower does hereby mortgage, warrant,
<br />grant and convey to the Lender, with power of sale the following described property located m HALL COUNTY,
<br />NEBRASKA.
<br />LOT SEVEN (7), IN BLOCK ELEVEN (11), PACKER AND BARR'S ADDITION TO THE CITY
<br />OF GRAND ISLAND, HALL COUNTY, NEBRASKA.
<br />Which has the address of 417 NORTH DARR, GRAND ISLAND, NE 68803.
<br />TOGETHER WITH 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
<br />covered by this Security Instrument. All of the foregoing is referred to in this Security Instrument as the "Property."
<br />BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and has the right to
<br />mortgage, grant and convey the Property and that the Property is unencumbered, except for encumbrances of record.
<br />Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any
<br />encumbrances or record.
<br />Page 1 of 3
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