201207880 - Laserfiche WebLink

Browse

�0120788� FORM E-1 FHA AND HUD TAX-EXEMPT FINANCING RIDER The following addenda to the Mortgage shall be incorporated into, and recorded with, the Mortgage. The term "Mortgage" shall be de.emed to include "Deed of Trust," if applicable. THIS TAX-EXEMPT FINANCING RIDER is made the date set forth below and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Dced ("Security Instrument") of the same date given by the undersigned ("Borrower") to secure Borrower's Note ("Note") to C'harterWect National Bank ("Lender") of the same date and covering the property described in the Security Instrument and located at the property and address described as follows: Address: 111 E 23rd St Grand Island, NE 68801 In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree to amend Paragraph 9 of the Model Mortgage Form, entitled "Grounds for Acceleration of Debt," by adding additional grounds for acceleration as follows: Lender, or such of its successors or assigns as may by separate insVument assume responsibility for assuring compliance by the Borrower with the provisions of this Tax Exempt Financing Rider, may require immedfate payment in full of all sums secured by this Security Instrument ff: (a) All or part of the Properry is sold or othervvise transferred by Borrow� to a purchaser or other transferee: (b) (c) (i) Who cannot reasonably be e�ected to occupy the property as a principal R�idence within a reasonable time after the sale or transfer, all as provided in Section 143(c) and (i)(2) of the Intemal Revenue Code; or (ii) Who has had a present ownership interest in a principal Residence during any part of the thre�year period ending on the date of the sale or transfer, all as provided in Sectlon 143(d) and (i)(2) of the Intemal Revenue Code (except that °100 percent° shall be subsMuted for "95 percent or more" where the latter appears in Section 143(d)(1)); or (iii) At an acquisition cost which is greater than 90 percent of the average area purchase price (greater than 110 percent for Residenc� in targeted areas), all as provided in Section 143(e) and (i)(2) of the Intemal Revenue Code; or (iv) Who has gross family income in excess of the applicable perc�tage of applicable median family income as provided in Section 143(fl and (i) (2) of the Intemal Revenue Code; or Borrower fails to occupy the property described in the Security Instrument without prior written consent of Lender or its succ�sors or assigns described at the beginning of this Tvc Exempt Financing Rider; or Borrower omits or misrepresents a fact that is material with respect to the provisions of Section 143 of the Intemal Revenue Code in an application for the I�n secured by this Security Instrument. Referenc� are to the Intemal Revenue Code as amended and in effect on the date of issuance of bonds, the procceds of which will be used to finance the Security Instrument and are deemed to include the implementlng regulations. If the Security Instrument is not financed in whole or in part with procceds of bonds issued by the Nebraska Investrnent Finance Authority, this Tax Exempt Financing Rider shall be null and void and of no force and effect. BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions in this Tax Exempt Financing Rider. Borrower p� Borrower Non Spouse Ana Raymundo Galiano 1993.CV (8/12) 907779 Galiano September 21, 2012 Date September 21, 2012 Date September 21, 2012 Date NIFA MRB/FORM E-1 (07/2012) GOTO(00227614)