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200508637 <br />OCCUPANCY RIDER TO <br />MORTGAGE/DEED OF TRUST /SECURITY DEED <br />Lender #: 0060848389 <br />THIS OCCUPANCY RIDER is made this 23rd day of August, 2005 <br />and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed <br />of Trust or Security Deed (the "Security Instrument ") of the same date given by the <br />undersigned (the "Borrower ") to secure the Borrower's Note (the "Note ") to <br />Washington Mutual Bank, FA <br />(the "Lender ") of the same date and covering the property described in the Security <br />Instrument and located at: <br />2603 West Division Street <br />Grand Island, NE 68803 <br />(Property Address) <br />ADDITIONAL COVENANTS. In addition to the covenants and agreements made in the <br />Security Instrument, Borrower and Lender further covenant and agree as follows: <br />1. That the above described property will be personally occupied by the Borrower as a <br />primary residence commencing not later than thirty (30) days after the above date. <br />2. That if residency is not established as promised above, without further notice, the Lender <br />will be entitled to take any or all of the following actions: <br />(A) Increase the interest rate on the Note by one -half of one percent (0.50 %) per <br />annum, and to adjust the principal and interest payments to the amounts required to <br />pay the loan in full within the remaining term; and/or <br />(B) charge a penalty fee of one and one -half percent (1.50 %) of the original principal <br />balance by adding that fee to the unpaid principal balance of the loan at the time <br />this fee is determined to be due and adjust the principal and interest payments to <br />the amounts required to pay the loan in full within the remaining term; and /or <br />(C) require payment to reduce the unpaid principal balance of the loan to the lesser of <br />(1) 70% of the purchase price of the property or (2) 70% of the appraised value at <br />the time the loan was made. This reduction of the unpaid principal balance shall be <br />due and payable within thirty (30) days following receipt of a written demand for <br />payment, and if not paid within thirty (30) days will constitute a default under the <br />terms and provisions of the Note and Security Instrument; and /or <br />OCCUPANCY RIDER TO MORTGAGE /DEED OF TRUST /SECURITY DEED <br />AA000801 (9707) Page 1 of 2 <br />