Subordination of Lien (at Refinance)

In the event of a refinance of the AHP/DP assisted unit during the term of the lien, the borrower may be required to repay the unforgiven portion of the lien from any net proceeds at refinance, unless the unit continues to be subject to the FHLB Des Moines (the Bank’s) lien by means of a Subordination Agreement. Lenders named in a Deed Restriction may use the form “Subordination Agreement” to subordinate the lien

Subordination Agreement