200003073 - Laserfiche WebLink

Browse

EXHIBIT E MORTGAGE ADDENDUM 200003073 The following are addenda to the Mortgage. Please check the applicable addendum. The addendum checked shall be incorporated into, and recorded with, the Mortgage. The term "Mortgage" shall be deemed to include "Deed of Trust," if applicable. X FHA, USDA RURAL DEVELOPMENT and HUD ADDENDUM ONLY 2000 THIS TAX- EXEMPT FINANCING RIDER is made this 14 day of APRIL, I& and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed ("Security Instrument ") of the same date given by the undersigned ("Borrower") to secure Borrower's Note ( "Note ") to NORWEST MORTGAGE INC, ( "Lender") of the same dale and covering the property described In the Security Instrument and located at: 214 SOUTH CLARK STREET GRAND ISLAND, NE 68801 [Properly Address] 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" as by adding additional grounds for acceleration as follows: Lender, or such of its successors or assigns as may be separate Instrument assume responsibility for assuring compliance by the Borrower with the provisions of this Tax - Exempt Financing Rider, may require immediate payment in full of all sums secured by this Security Instrument if: (a) All or part of the Property is sold or otherwise transferred by Borrower to a purchaser or other transferee: (i) Who cannot reasonably be expected to occupy the property as a principal Residence within a reasonable time after the sale or transfer, all as provided in Section 143(c) and (1)(2) of the Internal Revenue Code; or (ii) Who has had a present ownership Interest in a principal Residence during any part of the three -year period ending on the dale of the sale or transfer, all as provided in Section 143(d) and (1)(2) of the Internal Revenue Code (except that "100 percent" shall be substituted 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 targeted area Residences), all as provided in Section 143(e) and (1)(2) of the Internal Revenue Code; or (iv) Who has a gross family income in excess of the applicable percentage of applicable median family income as provided in Section 143(f) and (1) (2) of the Internal Revenue Code; or (b) Borrower fails to occupy the property described in the Security Instrument without prior written consent of Lender or its successors or assigns described at the beginning of this Tax - Exempt Financing Rider; or M