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200010880
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Last modified
10/13/2011 10:45:51 PM
Creation date
10/20/2005 10:40:50 PM
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DEEDS
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200010880
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CONVENTIONAL MORTGAGE LOAN ADDENDUM ONLY <br />THIS TAX- EXEMPT FINANCING RIDER is made this day of <br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed <br />( "Security Instrument ") of the same date given by the undersigned ( "Borrower ") to secure Borrower's Note ( "Note ") to <br />( "Lender ") of the same date and covering the property described in the Security Instrument and located at: <br />[Property Address] <br />In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and <br />agree to amend Paragraph 17 of the Uniform Mortgage Form, entitled "Transfer of the Property as a Beneficial Interest in <br />Borrower" as by adding additional grounds for acceleration as follows: <br />Lender, or such of its successors or assigns as may by separate instrument assume responsibility for assuring <br />compliance by the Borrower with the provisions of this Tax- Exempt Financing Rider, may require immediate payment in full of <br />all sums secured by this Security Instrument if: <br />Rider. <br />(a) All or part of the Property is sold or otherwise transferred by Borrower to a purchaser or other 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 (1)(2) of the Internal <br />Revenue Code; or <br />(ii) Who has had a present ownership interest in a principal Residence during any part of the three -year <br />period ending on the date of the sale or transfer, all as provided in Section 143(d) and (1)(2) of the <br />Internal Revenue Code (except that "100 percent" shall be substituted for "95 percent or more" where <br />the latter appears in Section 143(d)(1); or <br />(iii) At an acquisition cost which is greater than the maximum limits established by the Nebraska Investment <br />Finance Authority (the "Authority ") in connection with its Program, pursuant to which Program this <br />Security Instrument is financed; or <br />(iv) Who has a gross family income in excess of the maximum limits established by the Authority in <br />connection with its Program; or <br />(b) Borrower fails to occupy the property described in the Security Instrument without prior written consent of <br />Lender or its successors or assigns described at the beginning of this Tax- Exempt Financing Rider, or <br />(c) Borrower omits or misrepresents a fact that is material with respect to the provisions of Section 143 of the <br />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. <br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions in this Tax- Exempt Financing <br />Borrower <br />Borrower <br />STATE OF Nebraska <br />SS. <br />COUNTY OF Hall <br />The foregoing instrument was acknowledged before me this 14th day of December , 2000 <br />by Shelbey G Cantrell an unmarried individual <br />Witness my hand and notarial seal at Grand Island in said county, the date aforesaid. <br />My commission mi ffA <br />Nebraska LLAN 2, 2004 <br />o Wi lliam L cLellan <br />01/157208.7 NIFA 7/99 <br />F18751MG (11/00) Page 2 of 2 <br />
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