Laserfiche WebLink
202301070 <br />In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender <br />further covenant and agree to amend such Security Instrument by adding additional grounds for acceleration as <br />follows: <br />Lender, or such of its successors or assigns as may by separate instrument assume responsibility for <br />assuring compliance by the Borrower with the provisions of this Tax Exempt Financing Rider, may require <br />immediate payment in full of all sums secured by this Security Instrument if: <br />(a) All or part of the Property is sold or otherwise transferred by Borrower to a purchaser or other <br />transferee: <br />(i) Who cannot reasonably be expected to occupy the property as a principal residence within a <br />reasonable time after the sale or transfer, all as provided in Section 143(c) and (i)(2) of the <br />Internal Revenue Code; or <br />(ii) Who has had a present ownership interest in a principal residence during any part of the three <br />year period ending on the date of the sale or transfer, all as provided in Section 143(d) and <br />(i)(2) of the Internal Revenue Code (except that "100 percent" shall be substituted for "95 <br />percent or more" where the latter appears in Section 143(d)(1)); or <br />(iii) At an acquisition cost which is greater than 90 percent of the average area purchase price <br />(greater than 110 percent for residences in targeted areas), all as provided in Section 143(e) <br />and (i)(2) of the Internal Revenue Code; or <br />(iv) Who has gross family income in excess of the applicable percentage of applicable median <br />family income as provided in Section 143(0 and (i) (2) of the Internal Revenue Code; or <br />(b) Borrower fails to occupy the property described in the Security Instrument without prior written <br />consent of Lender or its successors or assigns described at the beginning of this Tax Exempt <br />Financing Rider; or <br />(c) Borrower omits or misrepresents a fact that is material with respect to the provisions of Section 143 <br />of the Internal Revenue Code in an application for the loan secured by this Security Instrument. <br />References are to the Internal Revenue Code as amended and in effect on the date of issuance of bonds, the <br />proceeds of which will be used to finance the Security Instrument and are deemed to include the implementing <br />regulations. If the Security Instrument is not financed in whole or in part with proceeds of tax-exempt bonds <br />issued by the Nebraska Investment Finance Authority, this Tax -Exempt Financing Rider shall be null and void <br />and of no force and effect. <br />CHECK HEREā€¢ VA RIDER <br />If, so long as the Mortgage is outstanding, all or part of the property is sold or transferred by Borrower <br />without Lender's prior written consent, other than a transfer by devise, descent or by operation of law, the Lender <br />may, at Lender's option, declare all the sums secured by the Mortgage to be immediately due and payable. If the <br />Security Instrument is not financed in whole or in part with proceeds of tax-exempt bonds issued by the Nebraska <br />Investment Finance Authority, this Tax -Exempt Financing Rider shall be null and void and of no force and effect. <br />321-3947673-703 1555500031 <br />Tax Exempt Financing Rider <br />JNEHBAE1 Page 2 of 3 01.05.23 <br />u <br />11 <br />11 <br />11 <br />111 <br />11 <br />11 <br />11 <br />