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8'1. 103075 <br />I- VA ASSUMPTION POLICY RIDER <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 made this 16TH day of JUNE '1989 <br />and is incorporated into and shall be deemed to amend and supplement, the Mortgage, Deed of Trust, or Deed to Secure <br />Debt ( "Instrument") of the same date herewith, given by the undersigned ViVortgagor ") to secure the Mortgagor's <br />Note ( "Note ") of the same date to <br />NORWEST BANK NEBRASKA, NATIONAL ASSOCIATION <br />( "Mortgagee "). and covering the property described in the Instrument and located at: its successors and assigns <br />2315 WEST OKLAHOMA, GRAND ISLAND, NEBRASKA 68803 <br />(Property Address) <br />Notwithstanding anything to the contrary set forth in the Instrument, Mortgagee and Mortgagor hereby acknowledges <br />and agrt�a to the following: <br />GUARANTY. Shautd the Veterans Administration fail or refuse to issue its guaranty .in. full. amQUnt within 60 days <br />from the dAte that this loan would normalty become eligible for such guaranty commit,W& AkM by the Veterans <br />Administration under the provisions of Title 38 of the U.S. Code "Veterans Benefits ", the ZViortgagec may declare <br />rite indebtedness he' reby secured at once due and payable and may foreclose immediately or may exerdse any other <br />rights hereunder or take any other proper action as by- law provided. <br />TRANSFER OF THE PROPERTY: If all or any part of the -Fca <br />loan shall -he itnrhr i r y due °314 L�_ - !?�Y or any interest in it is sold or transfer this- <br />transferee i+pun iransrerIt;=`�Stimption ") of -the property securing such loan to any <br />transferee (" assumer''). unless the acceptability of the assumption and transfer of this town is established by the Veterans <br />Adru i tration or its authorized agent pursuant to section 1817A of Chapter 37, Title 38, United States Code. <br />An authorized transfer ( "assumption ") of the property shall also be subject to additional Cavonants and agreements <br />as set forth below: <br />(ab ASSUMPTION NDING FEE• A fee equal to one -half of I percent (.509%) of the uripaid principal balance <br />of -this loan as of the date of transfer of the property shall be payable at the time of transfsr.to tine mortgagee or <br />its authorized agent. as trustee for the Administrator of Veterans Affairs. If the a Of t r fails tst <br />time of transfer, the fee shall constitute an additional debt to that already secured by this instru' d ent.' silt ire erest <br />at the rate herein provided, and, at the option of the mortgagee of the indebtedness hereby' sc ured.or an transferee <br />thereof, shall be immediately due and payable. This fee is automatically waived if the assumes is exexrpt under the <br />provisions-of 38 U.S.C. 1829 (b). <br />(b) ASSUMPTION PROCE9ING CHARGE Upon applicatiap for approval to 111104 Assumption and transfer <br />of this loan, a procI fee maybe charged by the mortgagee_ er its. authorized agent for deterrtsiriing the creditworthiness <br />of the assumer and. T} bsequently revising the holder's ownership regards when an approved transfer is completed. The <br />amount of this change shall not exceed the maximum estabrAed by- the Veterans Administration for a loan to which <br />section 1817A of Chapter 37, Title 38. United States Code applies: <br />(c) ASSUMPTION INDEMNITY r IAB LITY If this obligati -nis assumed, then the assurner hereby agrees to <br />assume aU of the obligations of the veteran under the terms of the instk=ents creating and securing the la <br />the obligation of the'veteran to indemnify the Veterans Administration to the extent of'apy,eiai:iti p_i'nient arising <br />from the guaranty or insurance of the indebtedness created by this instrument.. <br />IN WITNESS WHEREOF, Nlortgagor(s) has executed this Assumption Policy Rider. <br />(Seal) ��� �- �� v <br />Mortgagor GERALD D. HATT (Seal) <br />Mortgagor <br />(Seal) <br />Mortgagor <br />®w 526 nwa, Wee MOnTG4 <br />GE i OiLNS • 17f3t293 8700 • t800>521 729t <br />— (Seal) <br />Mortgagor <br />0 <br />7 <br />-`i <br />4 <br />�i <br />