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201109519
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Last modified
1/5/2012 9:48:42 AM
Creation date
12/20/2011 8:52:18 AM
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DEEDS
Inst Number
201109519
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201109519 <br />(i) Who cannot reasonably be e�ected to �cupy the property as a principal Residence within a <br />reasonable time after the sale or transfer, all as provided in Section 143(c) and (i)(2) of the <br />Intemal Revenue Code; or <br />The following addenda to the Mortgage shall be incorporated into, and recorded with, the Mortgage. The term <br />"Mortgage" shall be deemed to include "Deed of Trust," if applicable. <br />THIS TAX-EXEMPT FINANCING RIDER is made the date set forth below and is incorporated into and shall be <br />deemed to amend and supplement the Mortgage, Dced of Trust or Security Deed ("Security Instrument") of the same date <br />given by the undersigned ("Borrower") to secure Borrower's Note ("Note° to CharterWest National Bank <br />("Lender') of the same date and <br />covering the property described in the Security Instrument and located at the property and address described as follows: <br />Address 417 W llth St Grand Island, NE 68801 <br />In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further <br />covenant and agree to amend Paragraph 9 of the Model Mortgage Form, entitled "Grounds for AcceleraUon of Debt,° by <br />adding additional grounds for acceleration as follows: <br />Le.nder, or such of its successars or assigns as may by separate instrument assume responsibility for assuring <br />compliance by the Borrower with the provisions of this Tax Exe,rnpt Financing Rider, may require immediate payment in full <br />of all sums secured by this Security Instrument if: <br />(a) All or part of the Property is sold or otherwise transferred by Borrower to a purchaser or other <br />transferee: <br />(ii) Who has had a present ownership interest in a principal Resid�ce during any part of the <br />thre�year period ending on the date of the sale or transfer, all as provided in Section 143(d) <br />and (i)(2) of the Intemal Revenue Code (except that "100 percent" shall be substituted for "95 <br />percent or more" where the latter appears in Section 143(d)(1)); or <br />FORM E-1 <br />FHA AND HUD MORTGAGE ADDENDUM <br />(iii) <br />(iv) <br />(b) <br />(c) <br />At an acquisition cost which is greater than 90 percent of the average area purchase price <br />(greater than 110 p�cent for Residences in targeted areas), all as provided in Section 143(e) <br />and (i)(2) of the Intemal Revenue Code; or <br />W ho has gross family income in excess of the applicable perc�tage of applicable median <br />family income as provided in Section 143(� and (i) (2) of the Intemal Revenue Code; or <br />Borrower fails to occupy the property described in the Security Instrument without prior written consent <br />of Lender or its successors or assigns described at the beginning of this Tax-Exempt Financing Rider; <br />or <br />Borrower omits or misrepresents a fact that is material with respect to the provisions of Section 143 of <br />the Intemal Revenue Code in an application for the loan secured by this Security Instrument. <br />References are to the Intemal Revenue Code as am�ded and in effect on the date of issuance of bonds, the <br />proceeds of which will be used to finance the Security Instrument and are deemed to include the implementing <br />regulations. <br />BY SIGNING BELOW, Borrower accepts and agree.s to the terms and provisions in this Tax Exempt Financing <br />Rider. <br />�' C�Gn-1� �y �s �G.�- ..,.� <br />BoR�� Eduardo Reyes Paramo <br />Borrower Ro gela Nunez Reyes <br />Non-Purchasing Spcwse <br />1993.CV (8/11) 906486 <br />December 16, 2011 <br />Dffie <br />December 16, Z011 <br />Date <br />Dffie <br />NIFA MRB/FORM E-1 <br />(10/OS) <br />GOTO(0O160b56) <br />
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