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200104583
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200104583
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Last modified
10/14/2011 4:19:36 AM
Creation date
10/20/2005 8:44:59 PM
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DEEDS
Inst Number
200104583
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200104583 <br />EXHIBIT E <br />MORTGAGE ADDENDUM <br />The following are addenda to Ilia Mortgage. Please check Ilia applicable addendum. The <br />addendum checked shall be incorporated into, and recorded with, file Mortgage. The term "Mortgage" <br />shall be deemed to include "Deed of Trust," if applicable. <br />x_ FHA, USDA RURAL DEVELOPMENT and HUD ADDENDUM ONLY <br />THIS TAX - EXEMPT FINANCING RIDER is made this 11 th day of May, 20p1 and is <br />incorporated into and shall be deemed to amend and supplement the Mortgage. Deed of Trust or <br />Security.Deed ( "Security Instrument ") of the same dale given by the undersigned ( "Borrower") to secure <br />Borrower's Nola ( "Note ") to <br />Mountain West Financial, Inc. <br />( "Lender ") of the same dale and covering the property described in the Security Instrument and located <br />at: <br />712 West 15th STreet, Grand Island, NE 68801 <br />(Property Address) <br />in addition to Ilia covenants and agreements made in the Security Instrument, Borrower and Lender <br />further covenant and agree to amend Paragraph 9 of the Model Mortgage Form, entitled "Grounds for <br />Acceleration of Debi" as by adding additional grounds for acceleration as follows: <br />Lender, or such of its successors or assigns as may be separate instrument assume <br />responsibility for assuring compliance:by•lhe Borrower with the provisions*of this Tax- Exempt Financing <br />Rider; may require immediate payment. in full of all sums secured by this Security Instrument it <br />(a) All or part of the Property is sold or-otherwise transferred by Borrower to a <br />purchaser or other transferee: <br />(1) Who-cannot reasonably be.expecled to_occuoy the property.as a <br />principal. Residence within a reasonable -time after the sale or transfer all as provided in Section 143(c) <br />and (1)(2) of the Internal Revenue Code; or <br />(ii) Who has had a present ownership interest in a principal Residence <br />during any. part of-the-three-.year period ending on the date -of Ill ale or transfer, all as provided in <br />Section 143(d) and (1)(2) of the Internal. Revenue Code (except that `100 percent" shall be substituted for <br />"95 percent or more' where ilia faller. appears in Section 143(d)(1)); or <br />(iii) At an acquisition cost which is grealer.lhan 90 percent of-the average <br />area purchase price (greater than 11p percent for'largeted area *Residences), all as provided in Section <br />143(e) and (I)(2) of Ilia Internal Revenue Code; or <br />(iv) Who has a gross family income in excess of the applicable percentage <br />of applicable median family income as provided In Section 1430 and (1) (2) of the Internal Revenue <br />Code; or <br />69 <br />
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