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<br /> , i V A GUARANTF.f:I)I.OAN ANU ASSUMP'I'ION YULICY RIUCR �
<br /> NOTICE: TI-�IS LOAN IS NOT ASSUMABLE WTTHOU'T �
<br /> THE APPROVAL OF THE DEPARTMENT OF VETERANS � '�- -
<br /> AFFAIRS OR ITS AUTHORIZED AGENT. "�'��
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<br /> THIS VA GUARANTEED LOAN ANU ASSUM('"1'fOIV f'OI.ICY RIDF.R is mndc thiti 29TH duy c�( ,y ,�;,.,: 'Y;���:.
<br /> DEC�MBER 1997 and is incoRmrntcd imo and shall trc dccmcd tc�amcnd nnd supplcmcnt Uic �:"��, "�j ,�?�'?,�
<br /> - '""' Mortgagc, Dccd of Trust or Dceci lo Sccurc Dcbt (hcrcin "Sccurity lnstrumcnt") dated of cvcn dutc hcrewith, -i. .;; ' •
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<br /> 'rR - ' 1�.�l�72�!{N+'JL"x ��� .
<br /> given by Uie undcrsigned(hcrcin"BorroweP')to securc Bonowcr's Notc to . ��y-
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<br /> HOME FEDERAL SAVINCiS & LUAN "%��r•"�"'�v T
<br /> (hcrcin "l.ender") - � �'•••��<-°°
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<br /> nnd rnvcring thc Property daticribcci in thc Security Instrumcnt and Ic�catccl at ���==~`--"_ - �
<br /> 1322 WEST HAO(3E STREET
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<br /> ORPiND ISLAND, NEBRASKA 68801 �`'� —
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<br /> (Praperty Addre�e) "k"-
<br /> VA GUARAN7'EED LOAN COVENANT: !n addidon to thc covcnan�s and agrccments madc in thc Sccurity ���`���-
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<br /> Inswment,Borrowcr and I.ender furthcr covcnunt and agrcc as follows: �s^��:
<br /> If the indebteciness secured hereby be guaranteed or insured under Tide 38, United Stetes Ccxie, such Tille and =;'�_--
<br /> Regulauons issucd thcrcunder and in cffect on tlic date hcrcof shall govem thc righ4s, duUCS and liabilides af =��
<br /> Bonower and L,ender.Any provisions of the Securit Instrument or olher instrumenGs executed in connecuon with '��y,��°''�
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<br /> said indebtedness which are inconsi5tant with said T�Qe or Regulauons,including,but not limited to,the provision ';�;;wr;s�.
<br /> for payment of any sum in cannecuon with �repAyment of �he secured indebtedness and the provision that the `„ J;�,.
<br /> I.ender may accelerate pAyment of the secured mdebtedness pursuant to Covenant 17 of the Secunty Instrument,are �•�,x
<br /> �.' hereby amendeci or negateci to the exlent necexsury to conform such insuumenls to suid TiQe�r Regulauans.
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<br /> � LA'iE CHARGE:At Lender's opuon,Sorrower will pay a"late charge" not exceeding four per centum(4°/n)of �j
<br /> thc overduc payment when paid more�hun fiftcen (15)days aCter the duc date thereof to cover the cxtra expensc �
<br /> . involved in handling delinquent paymenGC. but such "late charge" shall not be payable out oC the procceds of any ` .�'_
<br /> �• ' sale made ta�xtisfy the indebteciness securecf hereby, unless such praceecis are sufCeient to diseharge the endre ��er
<br /> �:.; indebtedness nnd all proper cos4c and expenses secured hereby. •y�,
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<br />- = GUARA�T i': Shuuld tl►c Dcpa�i,ucni u(Vcicrans i�fiairs iaii or rcfusc to isvuc i�s guarar►ty in fuil amount within -
<br /> GO days from the date that this loan would normally become eligible for s�ch guaranry committee!upon by 1he �.���';
<br /> �. Deparuncnt of Vctcrans A[fairs undcr thc provisions of TiUe 38 of the U.S. Code "Veterans BcneGts," the �����•;�
<br /> Mortgagee may dcclare the indebtcdncss hereby secured at once due and payable and may foreclose immediately or '° _-
<br /> may exercise any other rights hereunder or lake any c�ther propet fx:Uon as by law provided. -
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<br /> . TRANSFER OF THE PROPERTY:This loan may bc declared immediatcly due und payablc upon uansfer of thc -
<br /> propeny securing such loan lo any transferec,unless J►e acceptability of the assumpdon of the loan is astablished `;
<br /> � pursuant to Section 3714 of Chapter 37,TiUc 3R,United Stntes Code.
<br /> X' An authori�.ed transfer("assumption")of�he properry shall also be subject to additional covenan�s nnd agreemenls -
<br /> ,s. ns set forth bclow: —
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<br /> p:. (a)ASSUMPTION FUNDING FEE: A fee equal to one-hAlf of 1 percent(.50%)of the bal,u►ce of this loan as
<br /> of thc datc of transCer of the pr�peny shall bc payablc at thc time of transfcr to die loan holder ar its authorlxed
<br /> agent,as wstee for thc Dcpazuncnt of Vetcrans Affuirs. If thc assumcr fulls to pay this fee at the dme of transfcr,
<br /> thc fcc shaQ constitutc an addidonal dcbt to that alrcady sccurcci by this instrument,shall bcar interest at thc rate =,
<br />- herein providcci, and,at the opuon of the p�►yec of thc indebteciness hereby secured or any transferee thereof,shall —
<br />' be immediately duc And pnyable.This fec is automatically wnivcd if thc assumer is exempt under the provisions of ��=,
<br /> � 38 U.S.C.3729(c), - --
<br /> � i�,,.�a� -
<br /> (b) ASSUMPTION PROCESSWG CF{ARGG: Upon applicadon for approval to allow assumpuon of this
<br />_ loun, a ptcx:c.tising fcc may be chargcd� thc�loan holder or iGC authorized agent for determining the �''^�
<br />- creditworthiness of the assumer and subsequenUy revising the holder's ownership records when an approved ••.';.�'�:..-""
<br /> transfer is comp(eteci.The amo�mt of this charge shall not exceed the maximum established by the Deparurient of �� � ' ' '
<br /> ` Vctcrans Affnirs for a loun to which Scc:tion 3714 nf Chaptcr 37,Titic 38,Unitcci Statcs Codc appliae. �� �' :z�:z:�:: . '
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<br /> i (c)ASSUMPTIQN.INQEMNITY LIABILITY: lf this obligation is a�sumed,then the nssumen c�rcby agrccs '��'�'-;�FS"� `�r�'
<br /> _ �o assumc all of lhc obligaUons of Uie vetcr:tn undcr the terms of the instrumen4s creating nnd securing the laan.The � '�. .�t `
<br /> a�sumcr furthcr agrecs to indcmnify thc Dcpartmcnt of Vctcrans Affairs to Ihc cxtcnt of any claim pnymcnt arising . `� .'.•'"
<br /> from thc guaranty or insurancc of 1hc indcbtcdncss crcatcci by ihis instrumcnt. " " �
<br /> 1N WI'iNFSS WNEREOF,Aorrowcr(s)has cxcculal this VA Guarantcccl Loan and Assumption Policy Ridcr.
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<br /> VA GUARANTEEDLOAN AND I
<br /> , AS3UMPTION POLICY RIUER i
<br /> _ ��vMrMOn�nnc�rron��s �aoolsa� �ae���95 IIIIIIIIIIIIIIIIIII�IIIIIII�IIII�II !
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