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86101266
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86101266
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Last modified
10/18/2011 8:11:37 AM
Creation date
3/31/2008 2:10:13 PM
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DEEDS
Inst Number
86101266
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Z;1" 11567-4 <br />86- 101266 <br />FM ADDENDM <br />As long as this mortgage is bald by the Nebraska <br />Investment 11naum Authority, the L*rmi*r may declare all suns <br />secured by this mortgage to be immediately due and payable if: <br />(a) all or part of the property is sold or other- <br />wine transferred (other than by devise, descent or <br />Operation Of law) by Borrower to a purchaser or other <br />transferee: <br />(i) who cannot reasonably be expected to <br />Occupy the property as a principal residence within <br />a reasonable time after the sale or transfer, all <br />as provided in Section 103A(d) and (j)(2) of the <br />Internal Revenue Code; or <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 103(A)(*) and <br />(j)(2) of the Internal Revenue Code (except that <br />the language *loo percent, shall be substituted for <br />"90 Percent or sore' where the latter appears in <br />Section 103A(e) (1); or <br />(11i) at an acquisition cost which is greater <br />than 1-30 Percent of the average area purchase price <br />(greater than 120 percent for targeted area resi- <br />dences), all as Provided in Sect-ion :103A(f) and <br />(j)(2) of the Internal Revenue code; or <br />(iv) who has an income in excess of that <br />established by the Nebraska Investment Finance <br />Authority under its applicable regulations or <br />program guidelines in effect on the date of the <br />sale or transfer; or <br />P <br />(b) Borrower fails to occupy the property <br />described in the mortgage without Lender's prior written <br />- <br />consent; or <br />ink <br />(c) Borrower omits or misrepresents a material <br />fact In an application for this mortgage. <br />References are to the internal Revenue Code in effect on <br />the date of execution of this mortgage, and are deemed to <br />include the implementing regulations. <br />Dated March 14, 195t, <br />Borrcves .; <br />PDRH *$5-04 iarc 1.,Iartinez <br />NIFA 5/85 <br />iforrowe? <br />L-j <br />
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