88106684 - Laserfiche WebLink

Browse

MORTGAGE ADDENDUM 8S-i06681! The foIowIng are addenda to Ihe Mortgage. f'teI,lI check appRcable addendum. The acldendum checked shall be Incorpol'Wted Into, and recorded with. the MOC1g1ge. The term -Mortgage- shall be deemed to Include -Deed of Trult', " opplcoble. _X_ FHA ADDENDUM /UJ kHlg a. the Mortgage Is outstanding, the lender may dedare aU Bums secured by the Mortgage to be __11lIy duo and pe-Jlblo It. eel d or part of the property Is sold or otherwtse transferred (other than by devise. descent or operation of law) by Borrower to . purchallBl' or other lranllferse: (I) who ,cannot reasonably be expected to occupy the property lIa II principal residence wlth1r. II l'lIBSonabl& tmB after the sale or transfer, III as provided In SectIon 143(c) and 143(1)(2) of the Internal Revenue Code 011986. liS amended: or (H) who h.. hod a pntSent own...hlp Inl....t In 0 principal residence during any part of Iho lhree-year period erulng on the date of the sale or transfer. all as provided In SectIon 143(d) and 143[1)(2) of tho IntemaJ Rovenue Code (except thot tho Ionguogo '100 percent' shoD be subs1hu1ed lor -95 percent or more- where the latter appeBnl In SectIon 143(d)(111: or (IB) aI an acquJsftIon cost which Is greater than 90% of the aVenlg8 area purchase price (greater than 110'll0 'or targeted 0l8II residences), oD .s provided In SocIIon 143(0) and 143[1)(2) of lhe Intemal Revenue Code; or (Iv) who has an income in excess of that established by the Nebraska Investment Finance Authority under Its appDcable regulations or progrBm guidelines in effect on the date of the sale or transfer. Dr (b) Borrower tales to occupy the property described In the Mortgage wlthoullender's prior wrtlten consent; or (c) Borrower omfts or m1arepreaenta a material fact '" an appbtfon for the Mortgage. References are tD the Intemal RevS1ue Code In eflect on the date of execution of the mortgage end are deemed to Include tho inplementlng regulollons. VA MORTGAGE ADDENDUM n, so long .. the Mortgage II Oulstanclng, d or any part of tho propariy Is sold Dr lranslemtd by BOllOWer wlthoul Lender's prior wrIt1en consen~ othll'lhan . lranofll' by _0, dascent or by operation of law, the Lender IMY, at Lender'a option, dodara .. the Dums seeured by the Mor1gege to be tmmedla1e1y due and payable. Oate: December 8, 1988 )?g;/ ';/ ~ff/r. t>~k L Karr '(' J'i d,,,, k'. JltJ.J2il Brende K Karr SIIIe 0' N_ ) Counly olilflllol'l l", C+"- l'\ I _ ThB frWaOlng Insbument WI' Icknowledged before me this --L-... day Df 1-,) Q c ~ ......... ~r 19ft: by Patrick L Karr and !!tendo K Karr. ~ WItn..s my hand and notorial sool 01'-- In said county, dote fO~d C...LXsl"l<Cl __~ My Cornnnslon EJcpIres: 7-24-82 R n neider NIFA 1988 ISSUE B R3OO.REF <BIM) J:-~-MII"'" _ SCHNEIDER 1Ir_. up. Jul, 24. 1992