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State of Nebraska
ADAMS COUNTY, NE
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INST. NO. ~~~~~~~9
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REGISTER OF DEEDS
DEED OF TRUST FHA Case No.
321-2502937-703
MIN: 100416700004569811
THIS DEED OF TRUST ("Security Instrument") is made on February 22nd 2008
The trustor is Cary R DeBoer and Julie L DeBoer, husband and wife
("Borrower").
The trustee is U S Bank Trust Comuanv, National Association
("Trustee"). The beneficiary is Mortgage Electronic
Registration Systems, Inc. ("HERS") (solely as nominee for Lender, as hereinafter defined, and Lender's
successors and assigns). HERS is organized and existing under the laws of Delaware; and has an address and
telephone number of PO Box 2026, Flint, MI 45801-2026, tel. (888) 679-MEAS.
CharterWest National Bank
which is organized and existing under the laws of the State of Nebraska ,and whose address is
710 N Diers Avenue Suite M Grand Island, NE 68803 ("Lender").
Borrower owes Lender the principal sum of One Hundred Thirty Six Thousand Ten and 00/100
Dollars (U.S. $ 136,010.00 ). This debt is
evidenced by Borrower's note dated the same date as this Security Instrument ("Note"), which provides for
monthly payments, with the full debt, if not paid earlier, due and payable on March O1, 2038
This Security Instrument secures to Lender: (a) the repayment of the debt evidenced by the Note, with
interest, and all renewals, extensions and modifications of the Note; (b) the payment of all other sums, with
interest, advanced under paragraph 7 to protect the security of this Security Instrument; and (c) the
performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this
purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the following
described property located in Adams County, Nebraska:
Lot Twenty-Six (26), Block Four (4), Imperial Village Fourth Addition to the City of Hastings, Adams
Cow~ty, Nebraska, according to the recorded plat thereof.
which has the address of 913 Glenwood Ave
Hastings ,Nebraska 68901
[City] [Zip Code]
[Street]
("Property Address");
TOGETHER WITH all the improvements now or hereafter erected on the property, and all
easements, appurtenances, and fixtures now or hereafter a part of the property. All replacements and
additions shall also be covered by this Security Instrument. All of the foregoing is referred to in this Security
Instrument as the "Property". Borrower understands and agrees that HERS holds only legal title to the
interests granted by Borrower in this Security Instrument; but, if necessary to comply with law or custom,
HERS (as nominee for Lender and Lender's successors and assigns) has the right: to exercise any or all of
those interests, including, but not limited to, the right to foreclose and sell the Property; and to take any
action required of Lender including, but not limited to, releasing or canceling this Security Instrument.
IG25G.CV (t I/07) 901583 Page 1 of5
Return To:
CharterWest National Bank
710 N Diers Avenue Suite M
Grand Island, NE 68803
[Space Above This Line for Recording-Data]
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BORROWER COVENANTS that Borrower is lawfully seized of the estate hereby conveyed and
has the right to grant and convey the Property and that the Property is unencumbered, except for
encumbrances of record. Borrower warrants and will defend generally the title to the Property against all
claims and demands, subject to any encumbrances of record.
THIS SECURITY INSTRUMENT combines uniform covenants for national use and non-uniform
covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real
property.
Borrower and Lender covenant and agree as follows:
UNIFORM COVENANTS.
1. Payment of Principal, Interest and Late Charge. Borrower shall pay when due the principal of,
and interest on, the debt evidenced by the Note and late charges due under the Note.
2. Monthly Payment of Taxes, Insurance, and Other Charges. Borrower shall include in each
monthly payment, together with the principal and interest as set forth in the Note and any late charges, a sum
for (a) taxes and special assessments levied or to be levied against the Property, (b) leasehold payments or
ground rents on tl3e Property, and (c) premiums for insurance required under Paragraph 4. In any year in
which the Lender must pay a mortgage insurance premium to the Secretary of Housing and Urban
Development ("Secretary"), or in any year in which such premium would have been required if Lender still
held the Security Instrument, each monthly payment shall also include either: (i) a sum for the annual
mortgage insurance premium to be paid by Lender to the Secretary, or (ii) a monthly charge instead of a
mortgage insurance premium if this Security Instrument is held by the Secretary, in a reasonable amount to
be determined by the Secretary. Except for the monthly charge by the Secretary, these items are called
"Escrow Items" and the sums paid to Lender are called "Escrow Funds."
Lender may, at any time, collect and hold amounts for Escrow Items in an aggregate amount not to
exceed the maximum amount that may be required for Borrower's escrow account under the Real Estate
Settlement Procedures Act of 1974, 12 U.S.C. § 2601 et se .and implementing regulations, 24 CFR Part
3500, as they may be amended from time to time ("RESPA"), except that the cushion or reserve permitted by
RESPA for unanticipated disbursements or disbursements before the Borrower's payments are available in
the account may not be based on amounts due for the mortgage insurance premium.
if the amounts held by Lender for Escrow Items exceed the amounts permitted to be held by
RESPA, Lender shall account to Borrower for the excess funds as required by RESPA. If the amounts of
funds held by Lender at any time are not sufficient to pay the Escrow Items when due, Lender may notify the
Borrower and require Borrower to make up the shortage as permitted by RESPA.
The Escrow Funds are pledged as additional security for all sums secured by this Security
Instrument. If Borrower tenders to Lender the full payment of all such sums, Borrower's account shall be
credited with the balance remaining for al] installment items (a), (b), and (c) and any mortgage insurance
premium installment that Lender has not become obligated to payto the Secretary, and Lender shall promptly
refund any excess funds to Borrower. Immediately prior to a foreclosure sale of the Property or its
acquisition by Lender, Borrower's account shall be credited with any balance remaining for all installments
for items (a), (b), and (c).
3. Application of Payments. All payments under Paragraphs 1 and 2 shall be applied by Lender as
follows:
First, to tl3e mortgage insurance premium to be paid by Lender to the Secretary or to the monthly
charge by the Secretary instead of the monthly mortgage insurance premium;
Second, to any taxes, special assessments, leasehold payments or ground rents, and fire, flood and
other hazard insurance premiums, as required;
Third, to interest due under the Note;
Fourth, to amortization of the principal of the Note; and
Fifth, to late charges due under the Note.
4. Fire, Flood and Other Hazard Insurance. Borrower shall insure all improvements on the
Property, whethe-• now in existence or subsequently erected, against any hazards, casualties, and
contingencies, including fire, for which Lender requires insurance. This insurance shall be maintained in the
amounts and for the periods that Lender requires. Borrower shall also. insure all improvements on the
Property, whether now in existence or subsequently erected, against loss by floods to the extent required by
the Secretary. All insurance shall be carried with companies approved by Lender. The insurance policies and
any renewals shall be held by Lender and shall include loss payabl:, clauses in favor of, and in a form
acceptable to, Lender.
In the event of loss, Borrower shall give Lender immediate notice by mail. Lender may make proof
of loss if not made promptly by Borrower. Each insurance company concerned is hereby authorized and
directed to make payment for such loss directly to Lender, instead of to Borrower and to Lender jointly. All
or any part of the insurance proceeds may be applied by Lender, at its option, either (a) to the reduction of the
indebtedness under the Note and this Security Instrument, first to any delinquent amounts applied in the order
in Paragraph 3, and then to prepayment of principal, or (b) to the restoration or repair of the damaged
Property. Any application. of the proceeds to the principal shall not extend or postpone the due date of the
monthly payments which are referred to in Paragraph 2, or change the amount of such payments. Any excess
insurance proceeds over an amount required to pay all outstanding indebtedness under the Note and this
Security Instrument shall be paid to the entity legally entitled thereto.
In the event of foreclosure of this Security Instrument or other transfer of title to the: Property that
extinguishes the indebtedness, all right, title and interest of Borrower in and to insurance policies in force
shall pass to the purchaser.
5. Occupancy, Preservation, Maintenance and Protection of the Property; Borrower's Loan
Application; Leaseholds. Borrower shall occupy, establish, and use the Property as Borrower's principal
residence within sixty days after the execution of this Security Instrument (or within sixty days of a later sale
or transfer of the Property) and shall continue to occupy the Property as Borrower's principal residence for at
least one year after the date of occupancy, unless Lender determines that requirement will cause undue
hardship for Borrower, or unless extenuating circumstances exist which are beyond Borrower's control.
Borrower shall notify Lender of any extenuating circumstances. Borrower shall not commit waste or destroy,
damage or substantially change the Property or allow the Property to deteriorate, reasonable wear and tear
excepted. Lender may inspect the Property if the Property is vacant or abandoned or the loan is in default.
Lender may take reasonable action to protect and preserve such vacant or abandoned Property. Borrower
shall also be in default if Borrower, during the loan application process, gave materially false or inaccurate
infonnalion or statements to Lender (or failed to provide Lender with any material information) in
connection with the loan evidenced by the Note, including, but not limited to, representations concerning
Borrower's occupancy of the Property as a principal. residence. If this Security Instrument is on a leasehold,
1626G.CV (I 1/07) 901583 Page 2 of 5
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Borrower shall comply with the provisions of the lease. If Borrower acquires fee title to the Property, the
leasehold and fee title shall not be merged unless Lender agrees to the merger in writing.
6. Condemnation. The proceeds of any award or claim for damages, direct or consequential, in
connection with any condemnation or other taking of any part of the Property, or for conveyance in place of
condemnation, are hereby assigned and shall be paid to Lender to the extent of the full amount of the
indebtedness that remains unpaid under the Note and -this Security Instrument. Lender shall apply such
proceeds to the reduction of the indebtedness under the Note and this Security Instrument, first to any
delinquent amounts applied in the order provided in Paragraph 3, and then to prepayment of principal. Any
application of the proceeds to the principal shall not extend or postpone the due date of the monthly
payments, which are referred to in Paragraph 2, or change the amount of such payments. Any excess
proceeds over an amount required to pay all outstanding indebtedness under the Note and this Security
Instrument shall be paid to the entity legally entitled thereto.
7. Charges to Borrower and Protection of Lender's Rights in the Property. Borrower shall pay
all governmental or municipal charges, fines and impositions that are not included in Paragraph 2. Borrower
shall pay these obligations on time directly to the entity which is owed the payment. If failure to pay would
adversely affect Lender's interest in the Property, upon Lender's request Borrower shall promptly furnish to
Lender receipts evidencing these payments.
If Borrower fails to make these payments or the payments required by Paragraph 2, or fails to
perform any other covenants and agreements contained in this Security Instrument, or there is a legal
proceeding that may significantly affect Lender's rights in the Property (such as a proceeding in bankruptcy,
for condemnation or to enforce laws or regulations), then Lender may do and pay whatever is necessary to
protect the value of the Property and Lender's rights in the Property, including payment of taxes, hazard
insurance and other items mentioned in Paragraph 2.
Any amounts disbursed by Lender under this Paragraph shall become an additional debt of
Borrower and be secured by this Security Instrument. These amounts shall bear interest from the date of
disbursement at the Note rate, and at the option of Lender, shall be immediately due and payable.
Borrower shall promptly discharge any lien which leas priority over this Security Instrument unless
Borrower: (a) agrees in writing to the payment of the obligation secured by the lien in a manner acceptable to
Lender; (b) contests in good faith the lien by, or defends against enforcement of the lien in, legal proceedings
which in the Lender's opinion operate to prevent the enforcement of the lien; or (c) secures from the holder of
the lien an agreement satisfactory to Lender subordinating the lien to this Security Instrument. If Lender
determines that any part of the Property is subject to a lien which may attain priority over this Security
Instrument, Lender may give Borrower a notice identifying the lien. Borrower shall satisfy the lien or take
one or more of the actions set forth above within 10 days of the giving of notice.
8. Fees. Lender may collect fees and charges authorized by the Secretary.
9. Grounds for Acceleration of Debt.
(a) Default. Lender may, except as limited by regulations issued by the Secretary in the case of payment
defaults, require immediate payment in full of all sums secured by this Security Instrument i£
(i) Borrower defaults by failing to pay in full any monthly payment required by this Security Instrument prior
to or on the due date of the next monthly payment, or
(ii) Borrower defaults by failing, for a period of thirty days, to perform ~rny other obligations contained in this
Security Instrument.
(b) Sale Without Credit Approval. Lender shall, if permitted by applicable law (including section 341(d)
of the Garn-St Germain Depository Institutions Act of 1982, 12 U.S.C. 1701j-3(d)) and with the prior
approval of the Secretary, require immediate payment in full of all the sums secured by this Security
Instrument if:
(i) All or part of the Property, or a beneficial interest in a trust owning all or part of the Property, is sold or
otherwise transferred (other than by devise or descent), and
(ii) The Property is not occupied by the purchaser or grantee as his or her principal residence, or the
purchaser or grantee does so occupy the Property, but his or her credit has not been approved in accordance
with the requirements of the Secretary.
(c) No Waiver. If circumstances occur that would permit Lender to require immediate payment in full, but
Lender does not require such payments, Lender does not waive its rights with respect to subsequent events.
(d) Regulations of HUD Secretary. In many circumstances regulations issued by the Secretary will limit
Lender's rights, in the case of payment defaults, to require immediate payment in full and foreclose if not
paid. This Security Instrument does not authorize acceleration or foreclosure if not permitted by regulations
of the Secretary.
(e) Mortgage Not Insured. Borrower agrees that if this Security Instrument and the Note are not determined
to be eligible for insurance under the National Housing Act within 90 Days from the date hereof, Lender
may, at its option require immediate payment in full of all sums secured by this Security Instrument. A
written statement of any authorized agent of the Secretary dated subsequent to 90 Days from the date
hereof, declining to insure this Security Instrument and the Note, shall be deemed conclusive proof of such
ineligibility. Notwithstanding the foregoing, this option may not be exercised by Lender when the
unavailability of insurance is solely due to Lender's failure to remit a mortgage insurance premium to the
Secretary.
' 10. Reinstatement. Borrower has a right to be reinstated if Lender has required immediate payment
in frill because of Borrower's failure to pay an amount due under the Note or this Security Instrument. This
right applies even after foreclosure proceedings are instituted. To reinstate the Security Instrument, Borrower
shall tender in a lump sum all amounts required to bring Borrower's account current including, to the extent
they are obligations of Borrower under this Security Instrument, foreclosure costs and reasonable and
customary attorney's fees and expenses properly associated with' the foreclosure proceeding. Upon
reinstatement by Borrower, this Security Instrument and the obligations that it secures shall remain in effect
as if Lender had not required immediate payment in full. However, Lender is not required to permit
reinstatement if: (i) Lender has accepted reinstatement after the commencement of foreclosure proceedings
within two years immediately preceding the commencement of a current foreclosure proceeding, (ii)
reinstatement will preclude foreclosure on different grounds in the future, or (iii) reinstatement will adversely
affect the priority of the lien created by this Security Instrument.
l 1. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time of
payment or modification of amortization of the sums secured by this Security lnstrument granted by Lender
to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or
Borrower's successor in interest. Lender shall not be required to commence proceedings against any
successor in interest or refuse to extend time for payment or otherwise modify amortization of the sums
secured by this Security lnstrument by reason of any demand made by the original Borrower or Borrower's
1625G.CV (1 1/07) 901583 Page 3 of 5
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successors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of
or preclude the exercise of any right or remedy.
12. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and
agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and
Borrower, subject to the provisions of Paragraph 9(b). Borrower's covenants and agreements shall be joint
and several. Any Borrower who co-signs this Security Instrument but does not execute the Note: (a) is co-
signing this Security Instrument only to mortgage, grant and convey that Borrower's interest in the Property
under the terms of this Security lnstrument; (b) is not personally obligated to pay the sums secured by this
Security Instrument; and (c) agrees that Lender and any other Borrower may agree to extend, modify, forbear
or make any accommodations with regard to the term of this Security Instrument or the Note without that
Borrower's consent.
13. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by
delivering it or by mailing it by first class mail unless applicable law requires use of another method. The
notice shall be directed to the Property Address or any other address Borrower designates by notice to
Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any
address Lender designates by notice to Borrower. Any notice provided for in this Security Instrument shall be
deemed to have been given to Borrower or Lender when given as provided in this paragraph.
] 4. Governing Law; Severability. This Security Instrument shall be governed by Federal law and
the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this
Security Instrument or the Note conflicts with applicable law, such conflict shall not affect other provisions
of this Security lnstrument or the Note which can be given effect without the conflicting provision. To this
end the provisions of this Security Instrument and the Note are declared to be severable.
15. Borrower's Copy. Borrower shall be given one conformed copy of the Note and of this
Security Instrwnent.
16. Hazardous Substances. Borrower shall not cause or permit the presence, use, disposal, storage,
or release of any Hazardous Substances on or in the Property. Borrower shall not do, nor allow anyone else to
do, anything affecting the Property that is in violation of any Environmental Law. The preceding two
sentences shall not apply to the presence, use, or storage on the Property of small quantities of Hazardous
Substances that are generally recognized to be appropriate to normal residential uses and to maintenance of
the Property.
Borrower shall promptly give Lender written notice of any investigation, claim, demand, lawsuit or
other action by any governmental or regulatory agency or private party involving the Property and any
Hazardous Substance or Environmental Law of which Borrower has actual knowledge. If Borrower learns, or
is notified by any governmental or regulatory authority, that any removal or other remediation of any
1-Iazardous Substances affecting the Property is necessary, Borrower shall promptly take all necessary
remedial actions in accordance with Environmental Law.
As used in this paragraph 16, "Hazardous Substances" are those substances defined as toxic or
hazardous substances by Environmental Law and the following substances: gasoline, kerosene, other
flammable or toxic petroleum products, toxic pesticides and herbicides, volatile solvents, materials
containing asbestos or formaldehyde, and radioactive materials. As uses. in the paragraph 16, "Environmental
Law" means federal laws and laws of the jurisdiction where the Property is located that relate to health,
safety or environmental protection.
NON-UNIFORM COVENANTS. Borrower and Lender further covenant and agree as follows:
17. Assignment of Rents. Borrower unconditionally assigns and transfers to Lender all the rents
and revenues of the Property. Borrower authorizes Lender or Lender's agents to collect the rents and revenues
and hereby directs each tenant of the Property to pay the rents to Lender or Lender's agents. However, prior
to Lender's notice to Borrower of Borrower's breach of any covenant or agreement in the Security
Instrument, Borrower shall collect and receive all rents and revenues of the Property as trustee for the benefit
of Lender and Borrower. This assignment of rents constitutes an absolute assignment and not an assignment
for additional security only.
[f Lender gives notice of breach to Borrower: (a) all rents received by Borrower shall be held by
Borrower as trustee for benefit of Lender only, to be applied to the sums secured by the Security Instrument;
(b) Lender shall be entitled to collect and receive all of the rents of the Property; and (c) each tenant of the
Property shall pay all rents due and unpaid to Lender or Lender's agent on Lender's written demand to the
tenant.
Borrower has not executed any prior assignment of the rents and has not and will not perform any
act that would prevent Lender from exercising its rights under this Paragraph 17.
Lender shall not be required to enter upon, take control of or maintain the Property before or after
giving notice of breach to Borrower. However, Lender or a judicially appointed receiver inay do so at any
time there is a breach. Any application of rents shall not cure or waive any default or invalidate any other
right or remedy of Lender. This assignment of rents of the Property shall terminate when the debt secured by
tl~e Security Instrument is paid in full.
18. Foreclosure Procedure. If Lender requires immediate payment in full under Paragraph 9,
Lender may invoke the power of sale and any other remedies permitted by Applicable Law. Lender
shall be entitled to collect all expenses incurred in pursuing the remedies provided in this Section 18,
including, but not limited to, reasonable attorneys' fees and costs of title evidence.
If the power of sale is invoked, Trustee shall record a notice of default in each county in which
any part of the Property is located and shall mail copies of such notice in the manner prescribed by
Applicable Law to Borrower and to the other persons prescribed by Applicable Law. After the time
required by Applicable Law, Trustee shall give public notice of sale to the persons and in the manner
prescribed by Applicable Law. Trustee, without demand on Borrower, shall sell the Property at public
auction to the highest bidder at the time and place and under the terms designated in the notice of sale
in one or more parcels and in any order Trustee determines. Trustee may postpone sale of all or any
parcel of the Property by public announcement at the time and place of any previously scheduled sale.
Lender or its designee may purchase the Property at any sale.
Upon receipt of payment of the price bid, Trustee shall deliver to the purchaser Trustee's deed
conveying the Property. The recitals in the Trustee's deed shall be prima facie evidence of the truth of
the statements made therein. Trustee shall apply the proceeds of the sale in the following order: (a) to
all costs and expenses of exercising the power of sale, and the sale, including the payment of the
Trustee's fees actually incurred and reasonable attorneys' fees as permitted by Applicable Law; (b) to
all sums secured by this Security Instrument; and (c) any excess to the person or persons legally
entitled to it.
If the Lender's interest in this Security Instrument is held by the Secretary and the Secretary
requires immediate payment in full under Paragraph 9, the Secretary may invoke the nonjudicial
1G256.CV(II/07) 901583 Page4of5
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power of sale provided in the Single Family Mortgage Foreclosure Act of 1994 ("Act") (12 U.S.C. 3751
et se by requesting a foreclosure commissioner designated under the Act to commence foreclosure
and to sell the Property as provided in the Act. Nothing in the preceding sentence shall deprive the
Secretary of any rights otherwise available to a Lender under this Paragraph 18 or applicable law.
19. Reconveyance. Upon payment of all sums secured by t[tis Secunty Instrument, Lender shall
request Trustee to re-convey the Property and shall surrender this Security Instrument and all notes
evidencing debt secured by this Security Instrument to Trustee. Trustee shall reconvey the Property without
warranty to the person or persons legally entitled to it. Such person' or persons shall pay any recordation
costs. Lender may charge such person or persons a fee for reconveyipg the Property, but only if the fee is
paid to a third party (such as the Trustee) for services rendered and the charging of the fee is permitted under
Applicable Law.
20. Substitute Trustee. Lender, at its option, may from time, to time remove Trustee and appoint a
successor trustee to any Trustee appointed hereunder by an instrument recorded in the county in which this
Security Instrument is recorded. Without conveyance of the Property, the successor trustee shall succeed to
all the title, power and duties conferred upon Trustee herein and by Applicable Law.
21. Request for Notices. Borrower requests that copies of the notice of default and sale be sent to
Borrower's address which is the Property Address.
22. Riders to this Security Instrument. If one or more riders are executed by Borrower and
recorded together with this Security Instrument, the covenants of each such rider shall be incorporated into
and shall amend and supplement the covenants and agreements of this Security Instrument as if the rider(s)
were a part of this Security Instrument.
[Check applicable box(es)].
^ Condominium Rider ^ Graduated Payment ®Other [Specify]
^ Planned Unit Development Rider ^ Growing Equity Rider Mortgage Addendum
BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained in this
Security Instrument and in any rider(s) executed by Borrower and recorded with it.
Witnesses:
STATE OF Nebraska
COUNTY OF Adams
ss:
The foregoing instrument was acknowledged before me this 22nd
2008 , by Cary R DeBoer and Julie L DeBoer, husband and wife
(Seal)
(Seal)
day of February ,
Witness my hand and offtcial seal.
My Commission Expires:07/30/2010
GENERAL NGTP,RY - State of tJebraska
,~•~IIN. R03ERTA L. REED
~~'~L. ~ My Comm. Exp. July 30, 2010
r
otary Public Roberta L. Reed
1G25G.CV (I 1/07) 901583 Page 5 of5
~ (Seal)
Borrower Cary R DeBoer
` ~ (Seal)
G
Borr r Julie I, De oer
Borrower
Borrower
[Space Below This Line For Acknowledgment]
Sad 6
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FHA AND HUD MO TGAGE ADDENDUM '~ Q a ~ ~ b ~7
The following addenda to the Mortgage shall be incorporated into, and recorded with, the Mortgage. The term "Mortgage"
shall be deemed to include "Deed of Trust," if applicable.
TFIIS TAX-EXEMPT FINANCING RIDER is made the date set forth below and is incorporated into and shall be deemed to
amend and supplement the Mortgage, Deed of Trust or Security Deed ("Security Instrument") of the same date given by the
undersigned ("Borrower") to secure Borrower's Note ("Note") to CharterWest National Bank
("Lender") of the
same date and covering the property described in the Security Instrument and located at the property and address described as follows:
Address: 913 Glenwood Ave Hastings, NE 68901
Legal Description:
Lot Twenty-Six (26), Block Four (4), Imperial Village Fourth Addition to the City of Hastings, Adams County, Nebraska,
according to the recorded plat thereof.
In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree to
amend Paragraph 9 of the Model Mortgage Form, entitled "Grounds for Acceleration of Debt," by adding additional grounds for
acceleration as follows:
Lender, or such of its successors or assigns as may by 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 Instrwnent if:
(a) All or part of the Property is sold or otherwise 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 Internal 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
percent for Residences in targeted areas), all as provided in Section 143(e) and (i)(2) of the Internal
Revenue Code; or
(iv) Who has gross family income in excess ofthe applicable percentage of applicable median family income as
provided in Section 143(f) and (i) (2) of the Internal Revenue Code; or
(b) Borrower fails to occupy the property described in the Security Instrument without prior written consent of Lender
or its successors or assigns described at the beginning of this Tax-Exempt Financing Rider; or
(c) Borrower omits or misrepresents a fact that is material with respect to the provisions of Section 143 of the Internal
Revenue Code in an application for the loan secured by this Security Instrument.
References are to the Internal Revenue Code as amended and in effect on the date of issuance of bonds, the proceeds of
which will be used to finance the Security Instrument and are deemed to include the implementing regulations.
BY S GNING BELOW, Borrower accepts and agrees to the terms and provisions in this Tax-Exempt Financing Rider.
February 22, 2008
Borrower Cary R DeBoer
ulie L DeBoer
Borrower
Borrower
Non-Purchasing Spouse
1993.CV (II/07) 901583
Date
February 22, 2008
Date
Date
Date
Date
NIFA MRB/Form E-1
(10/OG)
GOTO(0007Gfc9)
W Oa- ~0