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L I 89--so. 105292 89-- 104655 VA ASSUMPTION POLICY RIDER ` Nl� f'�s'• llih)1►T IOWA s�' _M. A ��ttsn :. _ -OF TIRE AMNISTRATIGN ORM A-UM0 AGFIT.- THIS ASSUMPTION POLIIC'Y'R0, ER is made this 31ST day of AUGUST .1989 , and is incorporated faw aad shall b4 deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt ( "LrstrutaaaP °) or t ae sama date herewith, given by the undersigned ( "Mortgagor" a to secure the Mortgagor's Note (•'Noce ") of t3te same care .t ;�.. - NORSi1iiST BAnX NRWASKA. NATIONAL. ASSOCIATION its successors and assigns ( "Mortgagee ") and covering the property described in the instrument and located at-, 2+621.23 WEST- CAPITAL AVENUE, GRA14D ISLAND, NEBRASKA 68803 ` (Property Address) kotwiU).sUnding- anything to the contrary set forth in the Instrument, Mortgagee and Mortgagor hereby acknowledges and aasecs to the following: . dUA1k ONT Y: Should the Ve'tdraits Administration fail or refuse to issue its guaranty in full amount within 60 days from the date that t** loan would normally become eligible for such guaranty committed upon by the Veterans Administration, undw Cite provisions of Title 38 of the U.S. Code " Veterans Benefits", the Mortgagee may declare the indebteddess hereby secured at once due and payable and may fbreclose immediately or may exercist amy other rights hereunder or take any other proper action as by Iaw provided. TRANSFER 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!'J, unless the acceptability of the assumption and transfer of this loan is established by the Veterans Administration or:fts authorized agent pursuant to sectitc:.1817A of Chapter 37, Title 38, United Stan Code. .:.An autttadtW transfer ( "assumption ") of the property s:-.:all also be subject to additional covenants ar4 agreements as set forth below: (a) ASSUMM.U.N FUNDING FEE: A fee equal to one -half of 11Xrcent (,503t'r) of the u4sid prircW balance of ibis loan as of thin. date of transfer of the property shall be payabie at the tim. * of transfer to the rnil glee or its authorized agent, as trustee fcr the Administrator of ly ", trans Affairs. If the "* umer fails to pay this fee at the time of transfer, the fee shall const'ifute an add: t?Qnal debt =hat akeady secured by this instrument, shall bear interest at the rate herein provided, and. at the optioa' of" the mortgagee of the indebtedness hereby se;�,red or any transferee thereof, shall be imrsW ;atety due and 'This fee is automatically waived if the asst:;It'rtr is exempt under the provisions of 39 U.S.C. 1829 (b). (b) ASSUMPTION PROCL?SSING CHARGE: Upcx:,_pplication for approval to allow assumption Arid transfer of this loan, a proceWng fee maybe charged by the mortgagee or its authorized agent for determining the creditworthiness : of the assumer andsi:bAcquently revising the holder's ownership records when an approved transfer is completed. The amount of this chart* shall not exceed the maximum 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 thi3 obligation is assumed, then the assumer hereby agrees to,. assume all of the oblihitions of the veteran undier the terms of the instruments creating and secttt�ztg the loan. includinji the obligation of the Veteran to indemnif5r the Veterans Administration to the tment of any daim payment arising front the guaranty or ifnsr-m of the indi:i!i mess created by this instrument. . IN WJTI?ttXS WHI tgaao r(a)'lts executed_ this Assumption Polic ?'Rider. M L.; S2i area — (Scat) Mortgagor YMf WMTGAU FCPA4S • 1313,2238-, Go • t8.•. 52t 729t �. (Seal) Mortgagor (Seal) ?Mortgagor .i