99103911 - Laserfiche WebLink

Browse

. � 99� 1��3911 ; ... ;.. .... ., , . , : �� • EXHIBIT E � : MORTGAGE ADDENDUM • The following are addenda to the Mortgage. Piease check the 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," if applicable. X FHA, USDA RURAL DEVELOPMENT and HUD ADDENDUM ONLY THIS TAX-EXEMPT FINANCING RIDER ts made this1 4thday ofApril , 19 992nd is incorporated into and shall be deemed to amend and suppiement the Mortgage, Deed of TNSt or Secu�ity Deed ("Security Instrument')of the same date given by the undersigned ("Borrower) to secure BoROwer's Note("Note')to : Mountain West Financial, Inc. ("Lender) of the same date and covering the property described in the Security Instrument and IocateJ at 1624 North Wheeler, Grand Island, NE 68801 (Property AddressJ � In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender fu�ther covenant and agree to amend Paragraph 9 of the Model Mortgage Form, entitled"Grounds for ��"� AcceleraGon of Debt"as by adding additional grounds for acceleration as foilows: Lende�, or such of its successors or assigns as may be sepa�ate instrument assume responsibility for assuring compliance by the Borrower with the p�ovisions of this Tax-Exempt Financing Rider, may require immediate payment in full of ail sums secured by this Security Instrument ifi (a) Ali or part of the Property is sold or othenNise transferred by BoROwer to a purchaser or other transferee: . (I) Who cannot reasonably be expected to occupy the 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 the Internal Revenue Code; or ' ' (ii) Who has had a present ownership interest in a principal Residence during any part of the three-year period ending on the date of the sale or transfer, all as provided in Section 143(d)and (I)(2)of the Intemal Revenue Code (except that"100 percent"shali be substituted for � "95 percent or more"where the latter appears in Section 143(d)(1)); or (iii) At an acquisition cost which is greater than 90 percent of the average area purchase price(greater than 110 percent for targeted area Residences), all as provided in Section � 143(e) and (I)(2) of the internal Revenue Code; or (iv) Who has a gross family income In excess of the applicable percentage � of applicabie median family income as provided in Section 943(� and (I) (2)of the Internai Revenue . Code; o� , •..J 69