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4 J t _- i i IN WRECORDED 88... 10 3 7 2 5 88--. 106077 VA ASSUMPTION POLICY RIDER NOTICE: THIS LOAN IS NOT ASSUMAHI:E WITHOUT THE APPROVAL OF THE VETERANS ADMINISTRATION OR ITS AUTHORIZED AGENTS THIS ASSUMPTION POLICY RIDER is made this to th day of lbv" err , 19 a , and is incorporated into and shall be deemed to amend and suppleraent the Mortgage, Deed of Trust, or Deed to Secure Debt ( "instrument ") of the same date herewith, given by the undersimed ( "Mortgagor ") to secure the Mortgasor's Note ( "Note") of the sane date to �t al ANN Corpor�at on am "iet Ilk. clt mws .NI 4" its successors and assigm ( "Mortgagee ") and coveonf,t1 a property described in the instrument and located at: 910 ,AWU ST. RIVO ME fi1 U (Property Ad&eu) Notwithstanding as rhing to the contrary set forth in the Instrument, Mortgagee and Mortgagor, Hereby acknowledges• and agrees to the fb bwing: GUARANTY: Should the Veteralits Administration fait or refuse to issue its gtsgrMty in full amount wilft W days'•` from the date that this loan. sew normally become eligible for such guar3my, committed upon by the Veterans Administration under the provisions of Title -38 of tltic, U.S. Code "Veterans Benefits ", the is mtpgft ivay declare' the indebtedness hereby secured at once drie and payable and may foreclose immediately or may exercise any other rights.bereunder or take w .wher proper action as by,,law provided. To pwc �zI- AC -TtJF �npERTy- if •11 nom' :»ny - raw. *j e�'� mew pe^rG*t:- nr -aiw intwt�et,in it it �nN ne MS[nakd_Tex�;_thia, -_ 1. Win siislii be immediately due � payable upon transfer.{ "assumption ") of the ^property securing suchkmn to any. transferee ( "assusaw" )". unless the acceptability of the assumption artd.ttansfer of this. ban is established by the Veterans Administration or its authorized agent pursuant to section 1817A.cf•Chapter 37, Title 38, United States Code. An authorized transfer ( "assumption ") of the property shall also be subject to additional covenants and agreements as set forth below: (a) ASSUMPTION FUNDING FEE: A. ieeequal to one-half of 1 percent (.504%) of the unpaid principal balance • . of this loan as of the date of transfer of the, property snail be payable at the time of tralft to the mogpwe or'.:. its authorized agent. as trustee for the Administrator.0, Yeterans Affairs. if the assumer fails to pay this fee at thc� time ofhmansfer, the fee shall constitute an additional debe.io that already secunedby this instrument, shall bear interest at the iatp herein provided, and, at the option of the ttt=pgee 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,&C. 1829 (b). (b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow assumption and transfer of thisF roan, a processing fee may be charged by the mortgage or Its authorized agetxC for determining the creditworthiness of the assumer and subsequently revising the holder's ownership records when gist.gpproved transfer is completed. The amount of this charge shall not exceed the rm ximum established by the Veterans Administration for a loan to which section 1817A of Chapter 37, Title 38, United States Code applies. (c) ASSUMPTION INDEMNITY LIABILITY: If titis obligation is assunu di (then the assumer hereby agrees to astute all of the obliptions of the veteran under the terns of the instruments creating and securing the load, including the obligation of the veteran to indemnify the Veterans Administration to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrument. IN WITNESS WHEREOF, Mortopr(s) has executed this Aasuwptioit Policy Rider. Oz:� Seal Seal LIE J. A Mortgagor ItWliiM yt PALO Mortgagor 4W i2! twx _____ (Seal) Mortgagor VM P MIORTGACA FORMS • iVW93 $100 • i8OOiS21 7291 _ (Seal) Mortgagor .f' f ` r