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<br /> � �i� VA GUARAN'�ECD LOAN �►ND ASSUaNPT10N POILICY RIDEI� •
<br /> �""'�`"' r.oAtv No.10-1008 �+
<br /> ���"""�"` NO'�ICE: THIS LC)AN IS NOT ASSLJMABLE WI'�HOtJT
<br /> . THE APPROVAL OF THE DE�'ARTMENT OF V�TERANS :_;_:�
<br /> AFFAIRS C)R ITS AUTI iORIZED�GrENT. �:. '_`-
<br /> � THIS VA GUAIZANTEED LOAN ANp ASSUMPTION POLICY RIDER is madc this 2nd day of __.
<br /> ,f• Apr i 1 1991 ,a�id ls iacorporated irno and shall be dcemed to amend and supptement the TM�
<br /> Mortgage, Deed of Trust or Dced to Secure Debt (herein "Sxuriry Instrument") duted of even date herewith, �_�_
<br /> � � given by the undersigned(herein'Bonower')to secure Borrower's Note to =
<br /> Ma�or Mortgage, A Wyoming Corporation
<br /> (henia "Lender'}
<br />� and covering the Properry described in tlte Securiry Instrument and located at '�-_—
<br /> �� -
<br /> 809 E. Oklahama,Grand Island,NE 68801 �=_
<br /> , . . cr�o�ny naa�w� '�`
<br /> - VA CiLJARANTEED LOAN COVENANT: In Tdclidon to the covenants and agreements made in the Securiry _
<br />'�� Instrument.Bomower aad Lender furth�r covenant and agree a�fvllows: _
<br />��." : , � , ', If the iudebtedness securr,d hereby be guaranteed or insureci under Tide 38, United States Code, such Title and __
<br />- . Regulations issued thenunder and in effect on the dat�hertaf shall govem ths dghts, duties and liabilities of
<br />_ • Borrower and Lender. Any provisions of the Secu r try Instnumat or o t t�er insuuments executed in connection with
<br /> . ��� iIlriPhteYlne.ea which are inconsistent with s�id TiAe or Regulattons, including, but not limited to, ttte
<br /> ' �' �' provision for payment of any sum in conneetion with pnpayment of the seeur e d in deuc e d ness and iue pi�visio;�
<br />-- : ; . that tk�r C.ender may aaelerate payment of the secured indrbtedness pwsuant to Covenant 17 of the Securiry
<br /> T°�� Instruiment, aze hereby amended or negated to the extent aecessary to conform such instrumeats to said Title or
<br />'�U.FT��� .. �:.
<br /> ° ' :�.�� Regulations.
<br />�r'�P'y�.
<br />-,N�. . '. ••' -i LATE CHARGE:At I.ender's option, Borrower will pay a 'lat�charge" uot exceeding four per centum(496)of
<br /> :Fi:. -t'a��
<br />�'a-`;:_,:.,,•„r.,: the overdue payment when paid mo�e thaa fifteen(15) days after the due date thereof ro cover the exaa expensc
<br />�''-;!::':':�;r"�� + invo lv e d i n handliag delin quent pa yments,but st►c�'late ctaarge"shall aot be payable out of the proceeds of any
<br /> . -::�.;:,,::..��<,�
<br />�,«.;,:,j�,,4- , sale made to satisfy the indabteMess secured hereby, unless s��h proceeds are sufficient to discharge the entire
<br /> -•� <_�;,_�,� ., indebtedness azcd all proper costs and capeases secured hereby.
<br />-������;:.,=�+;'� ,'! GUARANTY:Sbould the Department of Veterans Affaira fail or rcf�se to Issue its guaramty in fiill amount withi�i
<br /> u'•i+.d-rrf.��, - 60 days from the date that this loan would normally beco:neeligible for such guaranty committed upon by the
<br />��-.�nn"� "' '' Departdxnt of Votcrans Affairs under the provisions of 'li'i�e 38 of the U.S. Code "Veterans Benefits, the
<br /> ;..,:;y:�lr�tc;s Mortgagx may dxlaze the indebtedness hereby secured at once due and payable and may fareclose immediately
<br />,,.;,.;����;��.�� or may exercise any other rights hereunder or take any other proper action as by law provided. _
<br /> - ' '°`''� TRANSFER OF THE PROPERTY:This loan may be dxlated immedlately due and paysble upon transfer of the
<br /> m.�'��'�'�;, pmperty securing auch loan ta any transferee.unless the acceptability of the assumption of the loan is established -
<br /> -�°' ^�' pur�uant to Section 3714 of Chaptec 37.Titic 38.6lnited Stata Code.
<br /> ��_„;�;,� • An authorized traasfer("assumption")of the prope�ty shall alw be subject to additional covenants and flg�eemeats _
<br /> �„�,,.;w::,�` as set forth below;
<br /> � ---- �a�Accttty�pTION FUNDINC FEE:A fee equal to onrhalf of 1 percent(.50%)of the balance of this loan
<br /> � ,:��� as of the date of transfer of the property sha11 be payable at the time of transfcr to the loan holder or its aut6orized
<br /> ---"•��'►��� agent,as trustce for tt�e Degartment of Yererans Affairs.If tliee assumer fails to pay this fee at tho time of transfer. ____
<br /> �'S'°.".`""°`,z;;'�. thc fe�shall constitute an additional debt ro that already secured by this instrument.shall bear interest nt the rate __
<br /> _ __.�;�'-?l;�,. herein provided. and,at the optiom of the payee of thc indebtodness hereby secured or any uansferee thereof,shall �
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<br /> • •' VA QUARANTEED LOAN AND ASSUIINPTION PO1lCY RIDF.R �_
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