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84001223
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84001223
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Last modified
11/18/2008 6:52:25 PM
Creation date
11/18/2008 6:51:25 PM
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DEEDS
Inst Number
84001223
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<br />FHA AnDErminK 84 ----~fll,`Z~ <br />As~long as this mortgage is held by the Nebraska <br />Investment Finance Authority, the Lender ma.y de.cla-re all sums: <br />secured by this mortgage to be immediately due and payable if e, <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 1fl3A(d) and (j)(2) of the- <br />Internai 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 lfl3(A)(eJ and <br />(j}{2) of the Internal Revenue Code (except that <br />the language "100 percent" shall be substituted for <br />"90 percent or mare" where the latter appears in <br />Section 103A(e}(1); ar <br />{iii) at ar. acquisition cost which is greater <br />than ii0 percent of the average area purchase price <br />(greater than 1?0 percent far targeted area resi- <br />dences}, all as provided in Section 103R(f) and <br />(j)(2} of the ?nternai Revenue Code; or <br />(iv} wha has an income in excess of that <br />established by the Nebraska Inver*.ment Finance <br />Authority under its applicable regulations or <br />program guidelines in effect an the date of the <br />sale or transfer; or <br />(b) Borrower fails to occupy the aroperty <br />described in the mortgage without Lender's prior written <br />eansent; ar <br />(c} Borrower amity or misrepresents a material <br />fact ir< an application far 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 regulatians. <br />NIFA 9j83 <br /> <br /> <br /> <br />
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