200108934 - Laserfiche WebLink

Browse

200108934 EXHIBIT E MORTGAGE ADDENDUM The following are addenda to the Mortgage. Pleaso check tho 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," it applicable. _X FHA, USDA RURAL DEVELOPMENT and HUD ADDENDUM ONLY TI IIS TAX - EXEMPT FINANCING RIDER is made this 27th day of August,, 2001 and is incorporated into and shall be deemed to amend and supplement Ilia Mortgage, Deed of Trust or Securily.Deed ( "Security Instrument') of the same dale given by Ilse undersigned ( "Borrower") to secure Borrower's Note ( "Nola") to MOUNTAIN WEST FINANCIAL, INC. ('Lender') of the same dale and covering*the property described In the-Security Instrument and located al: 2124 West 10th Street Grand Island, NE 68803 (Property Address in addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree to amend Paragraph 0 of the Model Mortgage Form, entitled "Grounds for Acceleration of Oebl" as by adding additional grounds for acceleration as follows: tender, or such of its successors or assigns as may be separate instrument assume responsibility for assuring compliance: by, Ilia Borrower with the provisions-of this Tax- Exempt Financing Rider,- may require immediate payment in full of all sums secured by (Ills Security Instrument If. (a) All or pail of file Property is sold or. otherwise transferred by Borrower to a purchaser or other transferee: (1) Who .cannot reasonably be.expecled to- occupy (lie 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 Ilia Internal Revenue Code; or (ii) Who has had a 'present ownership interest In a principal Residence during any-part of.fhe.lhree. year period ending on the date of the sale or transfer, all as provided in Section 143(4) and (1)(2) of Ilia Internal Revenue Code (except Thal `100 percent" shall be substituted for `05 percent or more' where Ilia taller. appears In Section 143(d)(1)); or (iii) At an acquisition cost which is grealer.(han 00 percent of Ilia average area purchase price (greater than 110 percent forlargeled 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 Ilia applicable percentage of applicable median family Income as provided in Section 1430 and (1) (2) of The Internal Revenue Code; or