|
gg_. 101663
<br />r' VA ASSU14iPTIOPi POLICY RIDER
<br />�L
<br />. 44i
<br />NOTICE; THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL
<br />OF THE VETERANS ADMINISTRATION OR ITS AUTHORIZED AGENT.
<br />THIS ASSUMPTION POLICY RIDER is Trade this 30TH day of MARCH '1989 t
<br />and is rr_,orporated into and shall b^ dee rued to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure
<br />Debt. � "Instrument ") of the saute date herewith, given by the undersigned to secure the Mortgagor's
<br />Note ('''Not! ") of the same date to
<br />NORWEST BANK NEBRASKA, NATIONAL ASSOCIATION
<br />its successors and assigns
<br />( "Mq�.gagee ") and covering the property- 'd.scribcd in the Instrument and located at:'
<br />Lt ?',:1EST THIRD STREET, GRAND OFD, NEBRASKA 68801
<br />(Properly Address)
<br />Notwithstanding;.:,ything to the contrar *: riYr forth in the Instrument, Mortgaz a ou-s6 Nfort,;agor hereby acknowiedgss
<br />and agrees to tl:z. ."lowing:
<br />GUARANTY: Should the Veterans Administration fail or refuse to issue its.r_ ± :a full amount within 60 days
<br />from t;4-_: date that this loan would normally bccom; c-ligible for such gca :a-V4 committed upon by the Veterans
<br />Adrnin,i =,,ration tinder the provisions of Title 38 of t hz U.S. Code "Veteran" Benefits ", the Mortgagee may declare
<br />the indebtedness :a.reby secured at once diit and payable and may foreclose immediately.or may exercise any other
<br />`-
<br />rights hereunder n;.tal;e any other prer•�:r - ion as E~•;:- lli:c pn,=,-;A41.
<br />TRANSFER OF THE PROPERTY- If a l`:,: any pari of the Property or any interest in it is sold or transferred, this r
<br />lean shall be immediately due and payable upon transfer ( "assumption ") of tha property securing such loan to any
<br />transferee ( "assumer "), unless the acceptabilay of the assumption and transfer of this loan is established by the Veterans
<br />Administration or its authorized agent p::i=uant to section 1817A of Cha -3*,er 37, Title 38, United States Code.,
<br />An authorized transfer ( "assumption ") of the property shall also 1%, .t:b+ °C` .c3 additional covenants and agreerr,4rts
<br />as set forth below:
<br />(z: , ASSUMPTION FUJMJjL(; FEE-. A fce equal to one- half percent (.50 %) of the unpaid prir:c :7- La n c:
<br />of this loan as of rihe date of transfer of ubc property shall be :,1e at the time of transfer to the mcrr[gagc�_ e;
<br />its authorized trustee for the Adisinistrator of Veteran ` .;•f airs. If the assumer. falls to pay this fee at ,tie
<br />time of , transfer. the fee shall constitute an ac�6: ional debt to that already secured by this instrument, shall bear interest
<br />at the rate herein provided, and. at the option of the mortga_pee of the indebtedness hereby secured or any transferee
<br />thereof, shall be immediately due and payable. This fee ie miori tically wais.r-i; if the assumer is exempt under the
<br />provisions of 38 U.S.C. 1829 (b).
<br />(b) ASSGh1PTION PROCESSING CH A RCIF_ Upon applic-iioo for :o allow assumption and transfer
<br />of thi.. hvi, a Procrssinc fee niay he ch. -.c(' i °y the mortr, l�we or its author',zed :we.nt for determining the worthincsc
<br />of* lie z-;surner and subsequently revising- t ^e holder's ov: asrsh;;, record; wit ^_ri as app roved transfer i5 )mpleted. The
<br />amount of this charge shall not exceed the roiximum established b the Veterans Adminirtr. Lion for a loan to which
<br />section 181 "A of Chapter 37. Title 38, Ui -"lied States CodL aplhli(-.s.
<br />(c? ,155U�fPTfON I�1f�E�- 1 \IT1' i..i,�3I1.ITY: If this. oli :i)i11ion k wsuincd, then the assurher "erch"; aere la
<br />assti;r : all of the obligations of the veteran Infer the terms oi' ilic "n struments creating and securing yh ;e,::n, incbicing
<br />the cb!'.,ation of the veteran to inder^nifv the Veterans Admir_is.rratir n to the extent of any c.'airn r.:ymcnt ari i'ftg
<br />from the guaranty or insurance of the inn- lebtedness created by ;his instrument.
<br />IN W.—NESS WHEREOF, Morrbrigor(il has executed this Asw; ;nption Policy Rider.
<br />-- - _ (Scat) It: f'f l r.^ 11 t
<br />'� ^�C - - -- (Seal)
<br />',,Mortgagor DEAN A. NELSON �+4orgrs }cfr,
<br />Zln t• ,,r
<br />r
<br />t
<br />
|