98102873 - Laserfiche WebLink

Browse

j EXHIBIT E ;� MORTGAGEADDENDUM ';,- -98—�(��3 The following are addenda to the Mortgage. Please check the applicable addendum. The addendum checked shall be incorporated into, and recorded with, the Mortgage. The term"Mortgage" shall be deemed to inciude"Deed of Trust,°if applicable. X FHA, USDA RURAL DEVELOPMENT and HUD ADDENDUM ONLY THIS TAX-EXEMPT FINANCING RIDER is made this 27 day of MARCH , 1998 and is incorporated into a�d shall be deemed to amend and supplement the Mortgage, Deed of Trust or Security Deed (°Security InstrumenY')of the same date given by the undersigned ("Borrowe�') to secure Borrower's Note("Note")to NORWEST MORTGAGE, INC {"Lender")of the same date and covering the property described In the Security Instrument and located at: 2215 WEST 1ST STREET - GRAND ISLAND, NE 68803 (Property Address] In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree to amend Pa�agraph 9 of the Model Mortgage Form, entitled"Grounds for � Accele�ation of Debt"as by adding additional grounds for acceleration as follows: Lender, or such of its successors or assigns as may be separate instrument assume responsibility for assuring compliance by the Borrower with the provisions of this Tax-Exempt Financing Rider, may require immediate payment in full of all sums secured by this Security instrument if: (a) Ail or part of the Property is sold o�othen�vise transferred by Borrower to a purchaser or other transferee: (I) Who cannot reasonably be expected to occupy the property as a principal Residence within a reasonable time after the sale or transfer, all as provided in Section 143(c) and (I)(2)of the Intemal Revenue Code; or (ii) Who has had a present ownership interest in a principal Residence during any part of the three-year period ending on the date of the sale or transfer, all as provided in Section 143(d)and (I)(2)of the Internal Revenue Code(except that"100 percent"shall be substituted for "95 percent or more"where the latter appears in Section 143(d)(1)); or (iii) At an acquisition cost which is greater than 90 percent of the average area purchase price(greater than 110 pe�cent for targeted area Residences), all as provided in Section 143(e) and (I)(2)of the Intemal Revenue Code; o� (iv) Who has a gross family income in excess of the applicable percentage of applicable median family income as provided in Section 143(fl and (I) (2)of the Internal Revenue Code; or 69