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200202124
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Last modified
10/14/2011 5:33:19 PM
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10/21/2005 9:30:36 PM
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DEEDS
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200202124
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20020'2124 <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 follow: <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 transferee; <br />(i) Who cannot reasonably be expected to occupy the property as a principal residence within a reasonable <br />time after the sale or transfer, all as provided in Section 143(c) and (i)(2) of the Internal 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 Internal <br />Revenue Code (except that "100 percent" shall be substituted for "95 percent or more" where the latter <br />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 Security <br />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 made to the Internal Revenue Code as amended and in effect on the date of issuance of bonds, <br />the proceeds of which will be used to finance the Security Instrument and are deemed to include the <br />implementing regulations. <br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions in this Tax - Exempt Financing Rider. <br />Borrower Jay N Longfellow <br />Borrower Julie A Longfellow <br />STATE OF Nebraska <br />ss <br />COUNTY OF Hall . <br />The foregoing instrument was acknowledged before me this 25th day of February , 2002 by Jay N Longfellowand Julie A <br />Longfellow <br />Witness my hand and notarial seal at Grand Island in said county, the date aforesaid. <br />My commission expires: <br />III GENERAL NOTARY -State of Nebraska Notary Public <br />DARREN SANCHEZ <br />MY Comm. By. April 24, 2004 <br />FM305p2.uff (9101) Page 2 of 2 <br />01 -10- 000365 <br />
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