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88105912
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Last modified
3/9/2007 5:41:48 PM
Creation date
3/9/2007 4:43:01 AM
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DEEDS
Inst Number
88105912
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<br />88- 105786 <br /> <br />093373 5- z RE'RECORDED <br />88- 105912 <br /> <br />EXHIBIT E <br /> <br />MORTGAGE ADDENDUM <br /> <br />The followinq are addenda to the Mortqaqe. p~ease check <br />the applicable addendum. The addendum checked shall be <br />incorporated into. and recorded with. the Mortgage. The term <br />"Mortgaqe" .shall' be deemed to include "Deed of Trust. ". if <br />applicable. <br /> <br />xx <br /> <br />FHA ADDENDUM <br /> <br />As long as the Mortqaqe is outstanding. the Lender may <br />declare all sums secured by the Mortgage to be immediately <br />due and payable if: ". <br /> <br />(a) all or part of the property is sold or other- <br />wise transferred (other than by devise. descent or <br />operation of law) by Borrower to a purchaser or other <br />transferee: <br /> <br />(i) who cannot reas~nably be expected to <br />occupy the property as a principal residen~e within <br />a reasonabl~ time after the sale or transfer. all <br />as provided ~ Section 143(c) and 143(i)(2) of the <br />Internal Revenue Code of 1986. as amended; or <br /> <br />(ii) who has had a present ownership interest <br />in a principal residence during any part of the <br />three-year period ending on the date of the sale or <br />transfer. all as provided in Section 143(d) and <br />143(i)(2) of the Internal Revenue Code (except that <br />the languaqe "100 percent" shall be substituted for <br />"95 percent or more" where the latter appears in <br />Section 143(d)(11); or <br /> <br />(iii) at an acquisition cost which is greater <br />than 90% of the average area purchase price <br />(greater than 110% for targeted area residences). <br />all as provided in Section 143(e) and 143(i)(2) of <br />the Internal Revenue Code; or <br /> <br />(iv) who has an income in excess of that <br />established by the Nebraska Investment Finance <br />Authority under its applicable regulations or pro- <br />gram guidelines in effect on the date of the sale <br />or transfer; or <br /> <br />7114n <br />
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