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<br />88- <br /> <br />102809 <br /> <br />0933277-1 <br /> <br />MORTGAGE OR DEED OF TRUST RIDER <br />to FHA Insured Loan <br /> <br />r <br /> <br /> <br />of May :i.:'~. <br />ev~n date by and between <br />the Borrower(s). and <br />the Trustee. and <br />the Lender. <br /> <br />Thi. <br />amend. <br /> <br />One-Time Mortaaoe Insurance Premium <br /> <br />1. Sub.action (a) of Paragraph 2 is deleted. <br />2. Subsection (0) (I) of Por~graph 2 is deleted. <br />3. In the third sentenop. of Paragraph 3, the words ".11 <br />payments made under the provision of (a) of paragraph? <br />hereof which the Lender has not become obligated to pay <br />to the S~cretary of Housing and Urban Development and" <br />are deleted. <br />4. The fourth sentence of Pa,agl'aph 3 i,~ amended by <br />insertion of a period aftAr th~n remaining unpaid <br />under said Note. and deletion of the remainder of the <br />.entence. <br />s. Paragraph 12 is amended by th~ addition of the following: <br /> <br />"This option may not be nxprcisod when the <br />ineligibility for insur~nc~ undAr the National <br />Heuaing Act is dl.e to the Lender's failure to remit <br />the mortgoge insurancn premium tn the Department of <br />Houaing and Urban'Developm~nt.. <br /> <br />ASSUMPTION CLAUSE <br /> <br />The mortgagee shall. with the prior approval of the Federal Housing <br />COllllissioner, or his designee, declare all sums secured by this mortgage to be <br />111l11l!diately due and p"ayable if all or a part of the property is sold or <br />otherwise transferred (other than by devise, descent or operation of law) by the <br />mortgagor. pursuant to a contract of sales executed not later than 12 months <br />after the date of which the I'IIOrtgage is endorsed for insurance to a purchaser <br />whose credit has not been approved in accordance with the requirements of the <br />ColllDissione r. <br /> <br />FHA MORTGAGE INSURANCE CERTIFICATE <br /> <br />Should the Federal Housing Administration fail or refuse to issue its <br />insuring certificate within sixty (60) days from the date the loan would <br />normally beco..e eligible for such insurance. the holder of the note secured <br />hereby may declare the indebtedness hereby secured at once due and payable. <br /> <br />IN WITNESS WHEREOF. the borrowp.r(sl has set his hand and seal <br />the day and y.ar first aforesaid. <br /> <br />~!J?' <br />B ,t~~~YbULlI <br />errower <br /> <br /> <br />(~K\Q ~?~ <br /> <br />Borrower <br /> <br />State of: Nebraska <br /> <br />s". <br /> <br />County of: Hall <br /> <br />The <br />d\tsg~ <br /> <br />foregoing in.tru.ent was acknowledqed before ilia this 3'1st <br />Hay . 19~ by Leo N. Rayburn and Rana G. Raybu~ <br />ana WIte <br /> <br />W:ltne.. .V hand and notarial 9"'111 at Grand Island <br />in .aid county. the date aforesaid. <br /> <br />L <br /> <br />"1 oo..i..ion expire.: <br /> <br />\Lv~ ~..6f <br /> <br />Notary Public <br /> <br />& C"MlII No'ary- 51....0.. Nth'...... <br />OISHI HCll....~Tt()T <br />.w.J b M,t-....I.rd'o<.l1,19B9 <br /> <br />t, <br />i <br />!' <br />~ <br /> <br />TMC- 230 (q c ) <br />NEW ~!88 <br />