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THE TITLE "SECRETARY OF VETERANS AFFAIRS N SHALL BE SUBS TITUTED FOR THAT OF "ADMINISTRATOR OF VETERANS AFFAIRS" EACH TIME THAT IT APPEARS IN THIS DOCUMENT PURSUANT TO THE PROVISIONS OF SECTION 2, PUB. L. NO. 100 -527, THE DEPARTMENT OF VETERANS AFFAIRS AC1. ♦♦ VA LOAN NO l(f NDiAS lOAN NO 105591 116 037 L ?5J66 VA r _ VA HOME LOAN ASSUMPTION RIDER TO DEED OF TRUST / MORTGAGE This VA Loan Assumption Rider is made this 27th day of September, 1990 and amends the provisions of the Deed of Trust / Mortgage, (the "Security Instrument ") of the same date, by and between Daniel E. Smith and Tamera J. Smith, each in his and her own right and as spouse of each other . the Trustors / Mortgagors, and Equitable Building and Loan Association The Beneficiary / Mortgagee, as follows: Adds the following provisions: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE VETERANS ADMINISTRATION OR ITS AUTHORIZED AGENT. This loan is immediately due and payable upon transfer of the progeny securing such low to auy ifansferet, sinless the acceptability of the assumption of t1.'te loan is established 1p ursuant to section 1817? of chapter 37, title 38, United States Code. A. Funding Fee. A fee equal to one -half of I percent of the balance o'f this loam as of the date of transfer of the property shall be payable at the time of transfer to the loan holder 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 in- strument, shall bear interest at the rate herein provided, and, at the option of the payee of the in- debtedness hereby secured or any transferee r-5ereof. shall be immediately due and payable. This fee is automatically waived if the assumer is exempt under the provisions of 38 U.S.C. 1829 (b). { B. processing CNaryte. Upon applicauion for approval to allow assumption of this loan, a processing fee may be charged by the loan kv.Jea or its authorized agent for determining the creditorworthi- ness of the assumer and subsequently revisiaat the holder's ownership records when an approved j ,transfer is completed. T'he amount of this charge shall not exceed the Yn, "mum established by the I veterans' Administration for a loan to which section IS "A of Chapter 37, title .18. United States Code applies.. ! C. Otdemo tY lli Mty. "if this obligation is assumed. then the assumer hereby agrees to assume all of the obligations of the veteran under the terms of the instruments creating and securing the loan. including the obligation of the veteran to indemnify the Veterans' Administration to the ex- tent of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrument." ]l IN WITNESS WHEREOF, Trustori Mortgagor has executed thi% %'A Loan Assumption Rider. Signature f Trustorts) , N10 g4of4sl Daniel Smith camera J. Smith 00f; FORM 4&8 '6our5)0109!' Wu 3%64,643 lriir : 01