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$9=: 102571 . VA ASSUMPTION POLICY RIDER NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE VETERANS ADMINISTRATION OR ITS AUTHORIZED AGENT. THIS ASSUMPTION POLICY RIDER is made this 18TH day of MAY , 1989 and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt ( "Instrument ") of the same date herewith, given by the undersigned ( "Mortgagor ") to secure the Mortgagor's Note ( "Note ") of the sarne date to NORWEST BANK NEBRASKA, NATIONAL ASSOCIATION its successors and assigns ( "Mortgagee ") and covering the property described in the Instrument and located at: 1020 SOUTH PINE STREET, GRAND ISLAND, NEBRASKA 68801 (Property Add :ess) Notavithstanding..anything to the contrary set forth in the Instrument ,Nfortgagee and Mortgagor hereby acknowledres and a,;rces to the following: G7 'ARA`1T Y : Should the Veterans Administration fail or refuse to issue its guaranty in full amount within 60 days from the date that this loan would normally become eligible for'such guaranty committed upon by the Veterans Administration under the provisions of Title 38 of the U.S. Code, "Veterans Benefits ", the Mortgagee may declare the indebtear,ess hereby secured at once due and payable and may foreclose immediately or may exercise any other rights hereunder or take any other proper action as by law provided. TP.ANSFER OF THE PROPERTY: If all or any part of the Property or any interest in it is sold or transferred, this loan shall be immediately due and payable upon transfer ( "assumption ") of the property securing such loan to any transferee ("assumer "), unless the acccptabili.y of the assumption and transfer of this loan is established by the Veterans Administration or its authorized agent pursuant to section IS17A of Chapter 37, Title 38, united States Code. An authorized transfer ( "assump ;ion ") of the property shall also be subject to additional covenants and agreements as set forth below: (a) ASSUMPTION FUND! N' FEE: A fee equal to one -half of! percent (.50%) of the unpaid principal balance of this loan as of the date of transfer of the property shall be payable at the time of transfer to the mortgagee or its authorized agent, as trustee for the Administrator of Veterans Affairs. If the assumer fails to pay this fee at the time of transfer, the fee shall constitute an additional debt to that already secured by this it :strament, shall bear interest at the rate herein provided, and, at the option of the mortgagee of the indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. This fee is automatically waived if the assumer is exempt under the provisions of 38 U.S.C. I829 (b). (b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow assumption and transfer of this loan, a processing fee may be charged by the rnortagce or its au :horized agent for determining the creditworthiness of the assumer and subsequently revising the holder's owi:crship records when an approved transfer is completed. The amount of this charge shall not exceed the maximum cstabi :shcd by the Veterans Administration for a loan to which section. 1817A of Chapter 37, Title 3S, United States Code a, ;pj;cs. (c) ASSUMPTION INDEMNITY LIABILITY: If this obligaiion is assumed, then the assumer hereby agre ^.s to assume all of the obligations of the veteran under the terms of tlic instruments creating and securing the loan, including the obligation of the veteran to indemnify the Veterans Administratioi, to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrt,mcnt. IN WITNESS WHEREOF, Mortgagor(s) has executed this Assumption Policy Rider. (Seal) t -C'-� 1 / JOHN A. TIEDT 1ortgagor RITA R. TIEDT (Seal) Mortgagor ©'' .�- 526 nwn (Seal) Mortgagor VMP M0r1TOA0E FORA1S • 013,293.91CO • 18001521.7291 (Seal) Nlorteagor k