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<br /> 0020028279
<br /> . 98-- u.o�,2
<br /> V.A. GUARANTEED LOAN AHD A►SSUMPTION POLICY RIDER
<br /> �- NA'fICE:THIS LOAN I5 NOT ASSUMABI,F WITI��UT THF APPI�OYAL UF _
<br /> THE DEPAR'fMENT OF VEI'EItANS AFFAIRS OR iTS AUTHORIZED AGENT.
<br /> TH S�}f,��IARANTEF�9��AN AND ASSUMPTION POLICY RIDER is madc this 22� day
<br /> of , ,and 1s incorporated into and sh�ll be deemcd to amend and supplement
<br /> the Mortea�e,Detd of Trast or Deed to Secure Debt(hcrdn"Security Instrumcnt")datecl of cvcn date herewith,
<br /> give,���c��n�€rAi��eg(�u��d�nq and t�oan°ABS�o°c��it�on�of arand Island,
<br /> ll�bra�ka, �► ��deral Sevin�s Bank „ „
<br /> (herein Lender )
<br /> and covering the Property described in tbe Security Instrument and located nt
<br /> 1521 W iST 8T, ORA1fD ISLAND, IUtBM81(A 68801-5707
<br /> (P�operty Addresf)
<br /> V.A.GUARAN'IEPD LUAN COV�NAN'1':ln addition to the covenants and agreements made in the Security
<br /> lnstrument. Borrower and Lender further coven�nt and agree as fallo�vs;
<br /> If the indebtednas secured hereby be guarante�d or insured under Title 38,United States Code, such Title
<br /> and Regulations issued thcre�nder and in effect on the date horeof shall govern the rights,duties and liabilities
<br /> of Borrower�nd Lender.Any provisions of the Security Instrument or other Instruments executed in connection
<br /> with said indebtedness which are inconsistent with said Title or Regulations, including, but not limited to,
<br /> tht provision for payment of�ny sum in connection with prepayment of the secured indebtednas and the
<br /> provision that the Lender may accelerate payment of the securecl indebcedness pursu�nt to Covenant 17 of
<br /> the Security Instrument.are hereby amend�d or nnated to the extent necessary to contorm such instruments
<br /> to said Title or Aegulations.
<br /> LATE CHARGE;At Lender's option,Borrower will pay a"late charge"not exceeding four per centum(4qi)
<br /> of the overdue payment when paid more than fifteen(15) days after the due date thereof to cover the extra
<br /> expense involved(n handling dellnquent paymenu, but such"late ch�rge" shell not be payable aut of the
<br /> ' proceeds of any s�le made to satisfy the indebtednrss secured hereby,unless such proceeds are sufficient to
<br /> dischuge tl�e en�r�indebtednas and aU proper wsts snd eapenses secured hereby.
<br /> � GtJARANTY: 5hould the Department of Veterans Affafrs fail or refuse to iuue its gwranty in full amount
<br /> v�ithin 60 days from the date that this lo�n would normally baome eligible for such guaranty committed uE+on
<br /> by the Department of Veterans Affairs under thc provisions of Titk 38 of the U.S.Cade"VeterAna Benefits,"
<br /> the Mongaga may declare the indebtedness hereby secured at once due and paysbk and m�y foreciase �
<br /> immediately or roay exercise any other rights hereunder or take any other proper action as by law provided.
<br /> TRANSFER OF THE PROPERTY: If tll or any p�rt of the PropMy ar any interat in it is sold or transferred,
<br /> thia loan may be declued immediately due and payable upc>n uansfer("�ss�unption") of the property securing
<br /> such loan to any transfera("ussumer"),unlas the acceptability of the assumption and transfer of this loan
<br /> is atablished by tirc Ikpxrtmrnt of Veterana Affain or its authoriud agrnt pursuant to Section 1814 of Chapter
<br /> 37,7itle 38,United States Cade.
<br /> An authorizod tnnsfer ("assumption") of the property shdl also be subject to additional covenants and
<br /> agreements aa set forth below:
<br /> . (a) ' ' •A faequ31 to ane•half of 1 perant(.SOqo�of the unp�id principal
<br /> b�llance o thia lan u o the ate of transfer of the proY►erty sh�ll be payable at the time of transfer to the
<br /> mortg�a or its�uthorized agent,as tnistee for tbe Uepartment of Veterans Affairs.lf the assumer fails ta
<br /> nwy this fx at the time of transfer,the fte shdl constitute an additional debt to th�t dready eecured by this
<br /> insuument.shW bav intaest at the rate herein providod,and.at tlk option of the mort�{ee of the ilndebtedness
<br /> hereby sa�ired or�ny transfaee thereof,shxll be trnmodiitely due�nd yayabie.This fee is�utamatically w�ived
<br /> if the assucner is exempi under the provisions of 36 U.S.C.1829(b). '
<br /> (b) ASCUMPTION PROCESCING(_'HARQE: Upon application for approvul to allow�saumption and
<br /> transfer of th�s lou�.a proceasing fa may be charged by the mort�ee or its authoriznd�ent for determinin�
<br /> the creditworthinas of the assumer and subsequently revising the holder's ownerahip recads when an approvod
<br /> transfer is compkted.The amount of this charge shell not exceed the lesser of the me�imum atablished by
<br /> the Department of Veterans Affairs for a loen ta which Section 1814 of Chapter 37,1'itle 3R,United States
<br /> Codt applies or any maximum prescribed by applics6le State law.
<br /> (c) • If this obligation is assumed,then the asaumer hereby
<br /> agrees to assume�l o the obligAtions of the veteran under the terms of the instruments creating anci securing
<br /> the loan,includins the obli�ation of the vettran tc�indemnify the Depanment of Vcterans Affairs to the extent
<br /> of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrument.
<br /> IN WITNESS WHEREOF,Borrower(s)has executed this V.A.Guaranteed Loan and Assumption Policy Rider.
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<br /> -dorrowa -Borrower
<br /> V./1.OUAMNTEEO LOAN ANO AStUMMiION POLlCY lqDER ' 2M1
<br /> �'630u�w�w VAHMOqtOAGBfWIM7• 131313Y�-l100 •11001621•72Yt
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