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200505816
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Last modified
10/17/2011 8:22:45 AM
Creation date
10/28/2005 11:10:59 AM
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DEEDS
Inst Number
200505816
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0110236736 <br />EXHIBIT E <br />CONVENTIONAL MORTGAGE LOAN ADDENDUM <br />THIS TAX - EXEMPT FINANCING RIDER is made this 24th day of June , _2005 , and is <br />incorporated into and shall be deemed to amend and supplement tFe 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 />TierOne Bank ( "Lender ") of the same date and covering the property <br />described in the Security Instrument and located at: <br />1311 KRUSE AVE GRAND ISLAND Nebraska <br />[Property Address] <br />In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant <br />and agree to amend Paragraph 9 of the Security Instrument, entitled "Grounds for Acceleration of Debt" by adding <br />additional grounds for acceleration as follows: <br />Lender, or such of its successors or assigns as may by separate instrument assume responsibility <br />for assuring compliance by the Borrower with the provisions of this Tax - Exempt Financing Rider, <br />may require 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 <br />other transferee: <br />(i) Who cannot reasonably be expected to occupy the property as a principal <br />residence within a reasonable time after the sale or transfer, all as provided In Section <br />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 <br />of the three -year period ending on the date of the sale or transfer, all as provided in <br />Section 143(d) and (i)(2) of the Internal Revenue code (except that "100 percent" shall be <br />substituted for "95 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 <br />purchase price (greater than 110 percent for targeted area residences), all as provided in <br />Section 143(e) and (i)(2) of the Internal Revenue Code; or <br />(iv) Who has a gross family income in excess of the applicable percentage of <br />applicable median family income as provided in Section 143(f) and (i)(2) of the Internal <br />Revenue Code; or <br />(b) Borrower fails to occupy the property described in the Security Instrument without prior <br />written consent of Lender or its successors or assigns described at the beginning of this <br />Tax- Exempt Financing Rider, or <br />(c) Borrower omits or misrepresents a fact that is material with respect to the provisions of <br />Section 143 of the Internal Revenue Code in an application for the loan secured by this Security <br />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 Rider. <br />State of Nebraska) <br />ss <br />County of wl� ) <br />P �i <br />r r ENIFER A MCKEON <br />Borrower <br />The far going i strument as acknowledged before me this 4� day of. June ;• <br />by <br />Witness my h` nd and notarial seal at i said co nty, a date aforesaid. <br />My Commission <br />GENERAL NOTARY - State of Nebraska ! ,,i• cC ' . E.' '�. <br />RWNIE SCHAGER SUNDERMEIER <br />UN My Comm. Exp. Sept 8, 2007 Notary Public <br />NIFAMA2.UFF <br />
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