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<br /> �,� VA.�UAItANTL:E,YJ1 Lf.)A101 AND ASSUMPTION POLaCY RID�R
<br /> •,..„,,, �..�. I,oAN NO.10-1000
<br /> � � NOTICE: THI� LO�I`►� IS NOT ASSLTIV�ABLE WITHOUT
<br /> " � ' 1'HE AFIPRO��,L QF '�'HE DEPARTMENT �F VETERANS
<br /> ; AFFAIIZS OR ITS �U�HORIZED At�EN'�'. _
<br /> � TH1S VA GUAlZANTEED LO/tN A.�l�+A,�SUMPTION FOLICY RIDER is madc this lOth day of •
<br /> Apri 1 1997 ,and is incorporated into and shal!be deemod to amead and supplement the �
<br /> � � Mortgage, Deed of Tivst or Decd ta Serum Cebt (herein "Security InstcumenY) dated of even date herewith, .f�:
<br /> � given by the undr,rsie�ed(herein"Borro�vr.r")to secure Borrower's Note to _°
<br /> •:"��� Ma�or Mortc,ag� �:�-
<br /> {berein"Lertder') ' �'`1n'.
<br /> � and covering ch+a Pro�erry descri.bed in d�r.Security Instrument and located at "
<br /> �
<br /> • 613 W. Divesjon,Grand Isla�id,h1E 68801
<br /> .. ,, --
<br /> lPmperty Addreu) `:
<br />� • VA GUARANTFED IAAN CO���CN��I,T)T: In addition to the covenaats aad agreements made in the Securiry �:`�
<br /> � instrument,Barrower and Lend�:r�'aitlicr covenant and a�rce as follows: _
<br />_ . . . �7�s If the indebtedness secured hercb}�be guuranteed or insured under Tide 38, United Staz�es Code, such Tide and --
<br /> '�� Regu7atio�is isss�d tliareunder and in efi.'ect on the date her�of shall govem the rights, duue.g and liabilities of —
<br /> Borrower and 9�:ade.r.Any provisions af'the Securiry Insnument or other inswinents executed in connEetion with
<br />-. � . said indebted�eas wliich are inoansisc{�n� wuYi sazd 'ritie or �tegulatians, incIuding, bu[ no[ iimiie3 �o, che �:
<br /> -•' . ,r � pmi�sia�for pnyanent of any sum in coanection with prepayment of the secured indeb2�dness and the provisiun �
<br /> �''� ','; that the I.ender mny accslerata p�,yzneut of the secured indebtedness pwsuant ro Covenant 17 of tbe Securiry
<br /> y� � ,��Y ' Instrument, ant hereby amended or negnted to the exteat necessary to conform such ins2��ments to said Title or =
<br /> ` ::.�•, , Regulations. '"_
<br /> 3f`� LATE CHAR�iH: At Lender's optian, .8orrower will pay a "late cuarge" not excaeding four per ce�tu�(4�)of _�
<br /> - '� the overdue pay►stcnt when paid mare�han fifteen(1S)days after the due date thereaf to cover the exua cxpense _
<br />-"-="=�:'fit� involved in hnndling delinc�uent p�ymnate,but such "late charge" shalt not be payable out of the procads of any
<br />�'"'"�•'" sale made to satisfy the indebteflne�s�,:cured hereby, unless such procceds are sufficient to discharge the entire
<br /> =��"� �• � indebtedness:�nd all prop�r wst�nnd cr.peases secured hereby. _
<br /> _�;.r;;.
<br /> ;:�.`"- ����. GUARANTS':Should the Dep�.rtment of Ve[erans Affairs fail or refuse to issue its guaranty in full amount within °
<br /> •};�:'��_. 60 days from�tee date that thls loFe� +4ould normally become eligible for such guaranty committed upon by the
<br /> --_---��=t�=?� Depumnent af Veterans Affair� undor thc provisions of Title 38 of ttne U.S. Code "Veterans Benefits," the
<br />—�'�'-'�-���r'•'� Mortgagee mny declare tho indebtc:flnncs hercby secured at once du;,and paysble aud ma�foreclose immediately
<br /> '"`����'� or may exereise any other rigdts R�cr.r.uuder or take any other pr�per action as by law provided. -
<br /> _:�r.-.•�:::,a �- _.
<br /> __�-•_:F-� TRANSFER OF TG�E PROPEitY'Y: Y'his loan may be declared immediately due and payable upon uansfer of the —�-
<br /> � -';�"�y�� property sec.vrinQ sticn loan io uny unnsferee,unless the accepubiliry of tfi�e assumption of the loan is established
<br />--='�v-;4 pursuant to Section 3714 of Chr�r;x:y7,Tide 38,United States CodE. ■
<br /> y��„�,��� An au��,rized erunsfer(°:iS3Uil1�ii0A')of the property shall also be subject to additional eovenants and agreements =
<br />_�t:;t!�':'+�,'� 2S SCi��TI�I�QjdiV: --
<br /> _=�°='ss4�� (a)�SSC►M�TlON FUI3ITI �(�+ :A fee equal tu one-half of t percent(.509b)of the b�lance of this loan •�':�:
<br /> ��n-" as of the date nf tr�.�sfcr of tho propeny shall be payable at the ttmc of transfer to the loan holder or its authoriud R`•�
<br />�:-��,�'_� -=
<br /> r, agent,as trustce€or the Dcpa.mnr.nt of Veterans Affairs.If the assumer fails to pay t6is fee at the time of transfer,
<br />�+��:�;� �.
<br /> the fee shall constitute an additlannl debt to that already secured by this instrument. shall bear interest at the rate ��-
<br />_'�xr=�'�;n*� hctei��rovided,and,at th�o�tiun of the payee of the indebtedness hereby secured or u�y transferee thereof,shall �`
<br /> i`i�-• 6J.":..
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<br /> ���� • VA(3UARAN1EfED LOAW ANU AfiSUdIPTION PRL9�H RIDER -
<br />_ � • . �-5388 i�soe�.o+ 1l9G •_
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