Laserfiche WebLink
<br />~~`°~" fi)Ci0157 <br />FHA ADAENDtJM <br />As-Tong as this mortgage is held by the Nebraska Mort- <br />- gage; Finance-Fund (or its-legal successor, the Nebraska <br />Investment Finance Authority), the Lender may declare all <br />sums secured by this mortgage to be immediately due and <br />payable if: <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 />(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)(e) and <br />(j){2) of the Internal Revenue Code (except that <br />the language "100 percent" shall be substituted for <br />"90 percent of more" where the latter appears in <br />Section 103A(e)(1); or <br />{iii) at an acquisition cost which is greater <br />than 110 percent of the average area purchase price <br />(greater than 120 percent for targeted area resi- <br />dences}, all as provided in Section 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 Mortgage Finance Fund <br />{or its legal successor, the Nebraska Investment <br />Finance Authority} under its applicable regulations <br />or program guidelines in effect on the date of the <br />sale or transfer; or <br />(b) Borrower fails to occupy the property <br />described in the mortgage without Lender's prior written <br />consent; or <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 the mortgage, and are deemed to <br />i-nclude the implementing regulations. <br />NMFF 8/83 <br /> ~._. <br />,.._.1 <br /> <br />