Since the problem does not provide specific values for \(T_1\), \(\theta\), or \(r\), we cannot compute numerical answers. However, the general forms of the answers are:
For the tension in the lower cord:
\[ \boxed{T_2 = \frac{mg - T_1 \cos(\theta)}{\cos(\theta)}} \]
For the speed of the block:
\[ \boxed{v = \sqrt{\frac{r (T_1 \sin(\theta) + T_2 \sin(\theta))}{m}}} \]