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<br /> , , V.A. GUAI�ANTEED LOAN AND ASSUMPTION POLICY RIDER
<br /> - ' NQTICE;TH1S LOAN 1S NOT ASSUMABLE WITHOUT THE AFPROVAL�4F ._
<br /> THE DEP.��tTMENT OF VETERANS AFFgIR5 OR ITS AUTHORIZED AGENT.
<br /> THIS V.A. ClUARANTBED LOAN AND ASSUMPTION POLICY RIDER i� m�de this 27Tli day
<br /> of !lA1tCR . 1996 ,and is inrnrpor�ted into�nd�hdl bes deemed to�mend�nd auppkment
<br /> the Mortpse,Daed of Tnut or Deed to Securc DeM(herein"Savrity inttrumrnt")dated oF even dwte herewith,
<br /> �iven by the undasi�ned(hcrcin"Borrower") to secure Borrower's Note to
<br /> NORWEST MORZ�GAGE, xNC (herein "Lender")
<br /> and c4verin�the Propeny described in the Sccuriry Instrument and locatcd �t
<br /> 1704 SO[JTH GARI.AI�TD GRAND ISLAI�D, NE 68803 '
<br /> tPr�vMr naarea)
<br /> Y.A.QUARANTEEQ LOAN COVSNANT:In additlon to tht�wvrnanta su�d a�ramenta made in the Security
<br /> Irutrumrnt. Borrower and I.ender further covenNnt�nd a�ra�s fallows:
<br /> If the indebtednaa securcd hereby be�wr�,ntad or insured unda Titk 38, Unitod Stata Code,�uch Tide
<br /> ' and Re�ulatioiu iuued thereunder��d in effxt on the dtte hereof shall rovern the riQhts�dutia and liabllitia
<br /> af Borrower aad l.mder.My provisiau of the Security laurumrnt or atha inurumet�q e�cecuted in connation
<br /> � with sald indebtednes� which ue inrnnsi�trnt with said Titk ar�Re�ul�tione� includin�,but not limited to.
<br /> the.providon tor payment of any:um in oonnection with prepayment of the secured indebtedaeu and the
<br /> prov�sion th�t fhe Lender may aocelertte ptyment of the secured indebtedness purauant to Coveaant 17 of
<br /> tllC SOCUfI►y IAfINRIGU[�ue hereby amendcd or nepted to tho extent necas�ry to conPorm such�i�utrumrnts
<br /> to ttid Tltle or Re�Watioos.
<br /> LATE CHARaE:At Lender'a option,Borrower will pay a"late chrr�e"not excce�in�[our pa centum(49'i)
<br /> of tbe overdue payment when paid more than fiftaa(13)dayt after the due date thereof to cover the actra
<br /> .:..�„;�L.sviv�.i iu i,�w'itu�uciiuyaaua�y.,;cuis� oui wch `=iate c�e�'iwil na be pRy�ble out of the
<br /> proceedi of any s�le u�ade to�atbty�the indebtednw acwed bereby,unleu sucd prooad:are sufQcient to
<br /> di�r�e tbe eatire indebtednaa and al! proper coau and atpa►tet aavred hereby.
<br /> CiUARANTY:Should t1x Department of Yeteruu Aff�irs faIl or refwe to istue its�uu�nty in full am�+���t
<br /> .wit4in 60 dayn from the date thati this loau would aornuUy becwqe di�ibk for�uc6 swranty commltted upoa
<br /> bf t�ie.Dqwrtmrnt of Veta#iyq Affain under t6e provisions ot Titk 38 of the U.S.Code"Veter�as Benefib,'�
<br /> th�':Mqttp�ee may dxlarc'tl�e indebtednets hercby x�urul u on�x due u�d payabk and may forecloee
<br /> imniikfiudy a m�y acercise any other dshts hereunder or ulce�ny otber proper action as by law provided.
<br /> • TRANSFBR OF'CHS PROPERTY:If all or any part af tbe Propaty ar ay inter�nt in it ia wld or trwterred..
<br /> tLi��laae may be ded�rod iwnediuely due and papabk upon transfa(•��aumption")of the D��Y�t
<br /> sir�li�loan to�ny truuteree(••ac�umer").uniee�t�e accept�bility of the!..•!lmp!'se:;��d uacr.!er af t�i:::,::: � '
<br /> it awbW6ed by the Dcp�rtraeut of Vetatna AtPaln or ia authorimd a�mt pursw�pt to Section 3714 of Clupter �:�-.,;
<br /> � 37, Titk 3a, Unitad Stata Code.
<br /> . M authorir�ed transia ("�ssumptioa") of the propaty�hal! also be it�'t�ect to uWitioail cbv' �spants and
<br /> apnemmts as ut %rth belo�wa. ,., .
<br /> (a) �'�.�A fa equal to ono-half of 1 paoeat(.SO�ij cC the unp�id prindp�l r�� � ,
<br /> bal�noe o t i ww as o t e rlate o uansfer of thc property shall be ptyabk at the time of tr�na(er to the
<br /> • �uortiasa or ita authoriuE a�ent,as truaca for the Department of Vaaam Affairs.If the wuumer fails to
<br /> ;��.j.:�: P�Y tbi�fa at the time of trsmfa�the fee ahall vonstituu an.additioorJ debt to that already saured by thi�
<br /> �trummt.�lull bar intex+at�F6e rate h�xdn provided.and,at the opt�on of tbe mortp�ee of tbe lndebtednea�
<br /> her,'eby.aurad or aay u.nsferac�c�f.s1,.1!be immediatdy due and pa�bk.Thic f�e i�,sueoanukaUy w�lved ..
<br /> � !t�tha,as�umer it eacempt un'tler� provi�ions of 38 U.S.C. 3729(b). .'.�.,, , . ';��
<br /> �� •��
<br /> (b) �Upon applic�ulon for approvd to��llaw�scuru�ption and
<br /> tramfer o oup,a x m�y be c by the mort�or ics�uthorized a�ent for.c�.etcirminias
<br /> the cTOditwort6ioes�of the uaumer md wbue4�uY��t�holder'�ownaship records wh�n an�pproved ''� .
<br /> transfer i�oompkted. The unouat of this char�e sha11 not exoeed the leuer of the maidmum eik�ibtiihed by, ''�
<br /> t6e Deputmeat of Veteruu,ptfain for a lan to w6ich S�ctlon 3714 ot Chapter 3'�,Title 38,United Stata�.� •.
<br /> Code appiies or any muln�ulta praaribod by�ppGcabie-Stue i�w. •
<br /> . (�) A�t!l����II�LTY.�.�ABILiTY;If thia obliption is auumed. tben the asiutxier hereby
<br /> �rEee Lo�asu e f b e o ons o t�e veteran under the terrot of the inurumenti creatin�p't�d'secudn j.
<br /> ' the�toiw,inclu Q�p$', 'the obtystlon oF the vetmn to indemaify the Dep�rtment of Veterans Affain to the exunt
<br /> of.�ny C1aim pyrment aritin�from the jwr�nty or inwru�oe of tLe indebtednes�cre�ted by th�instnunenti
<br /> • IN WI'PNESS Wl�EREOF,Bortow�er(s)Iw enecuted thlt'V`.A.Ou�radteed L.a��od Axwmpbn PWky Rjder.
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<br /> •Borrower •BOnower
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