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90- -10'224 <br />MORTGAGE ADDENDUM <br />The following are addenda to the Mortgage. please check <br />the applicable addendum. The addendum checked shall The term <br />incorporated into, and recorded with, the Mortgage. <br />"Mortgage" shall be deemed to include "Deed of Trust," if <br />applicable. <br />XXXX FHA ADDENDUM <br />As long as the Mortgage is outstanding, the Lender may <br />declare all sums secured by the Mortgage to be immediately <br />due and payable if: <br />(a) all or hart of the property is sold or other- <br />wise transferred other than by devise, descent other <br />operation of lair) by Borrower to a purchaser <br />transferee: <br />(i) who cannot reasonably be expected to <br />occupy the property as a principal resident within <br />a reasonable time after the sale or transfer, all <br />as provided in section. 143(c) and 143(1)(2) of the <br />Internal Revenue Code of 199-6, as amended, or <br />(ii) who has had a present ownership interest <br />in a principal residence during any part of the <br />three -year period ending oil the date of the silo or <br />transfer, all as provided in Section 143(d) and <br />143(1)(2) of the Internal Revenue Code (except that <br />the language "100 percent" shall be substituted for <br />' "95 percent or more" where the latter appears in <br />Section 143(d)(1); or <br />(iii) at an acquisition cost which is greater <br />than 90% of the average area purchase price <br />(greater than llo% for targeted area residences), <br />all as provided in Section 143(e) and 143(1)(2) of <br />the Internal Revenue Code; or <br />(1v) whose family income exceeds the appli- <br />cable percent of applicable median family income as <br />pre ided in Section 143(f) and 143(i)(2) of the <br />Internal Revenue Code; or <br />(b) Borrower falls to OCCUPY the property <br />described Ili the Mortgage withcut rior written consent <br />of Lender or its successors or ass gns; or <br />(c) Borrower omits or misrepresents a fact that is <br />material with respect to the provisions of Section 143 <br />of the Internal Revenue Code in an application for the <br />Mortgage. <br />ReferQnces are to the 1986 Internal Reven- :e Code in <br />effec.- Ian the date of execution of t "��! ":: ^rtgage and are <br />deemed to include the implementing rp';:vi:ations. <br />So laic Ly Ttef $fch Le <br />.t <br />