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J _.05512 VA ASSUMPTION POLICY RIDER LZ OF THE VETERANS ADMINISTRATION OR MAUT.ORM.AGENT, THIS ASSUMPTION POLICY- $1 R is made this 6TH day of OcTom., 11989 , and is incorporated into and shall -be deemed try amend and supplement the Martgage, Decd of Trurc, or Deed to Secure Debt ( "Instrument ") of the same date heretvith. given by the undersigned ( "Mortgagor" )tla secure the Mortgst es Note ( "Note ") of the same date to NORWEST HANK NEBRASKA, NATIONAL ASSOCIATION `,( "Mortgaged') and covering the property described in the Instrument and Iocated at: it3 "succeuon }nd assists 170$ COVENTRY LOBS., GRAND ISLAND, NEBRASKA 68801 (Proputy Adds=) Notwithstanding anything to the contrary set forth in the Instrument, Mortgagee and Mortgagor hereby aelutowledge; and agrees to the following: GUARANTY: Should the Veterans A¢ministr joh fail or refuse to it-sue its guaranty in full amount with' ithin'fi0 days...;'. : from the dater that :dais loan would normalW fiaroina eligible for such. gua ranty committed upon by the Veterans. Administrat&B'4Wd�r. rile provisions of Title 18 "of the U.S. Code "Veterans Benefits ", the Mortgagee w y dectar . ': " the indebtcs #ir h�i�y secured at once due-and payablif and. may foreclose; Immediately or may exercise,itay other rights herc#j;w or take any other proper action as by law provided, T1iANSFEiit 6F THE PROPERTY: If all or any part of the P'roperC .A•or any, interest in it is sold or transferred, this loan shall be immediaWy due and payable upon transfer: (' assumption ") of the property securing such loan to any transferee ("assumce unless the acceptability of the assumption and transfer of this loan is established by the Veterans Administration or its authorized agent pursuant to section 1817A of Chapter 37, Title 38, United States Code. as an set forth below: authorized transfer, ( "assumption ") of the prop as erty shall also be subject to additional covenants d agreements (a) ASSUMPTI(] f, IFLt1VDING FEE- A fee equal to one -half of tp�i. (.Sti %) of the unpaid principal balance . LF this IQ=,.= of the d«:c of tru -rife of tilt property shall be payable w., rte tirrstr c1f transfer to the mortgagee or its authari;:ard.agent, as trustee for Administrator of Veterans Affa.}rr. It tape.r> timer fail.$ to pay this, fee at the time of transfer, the fee -.fall constitute an additional debt to that alrea4y'; :siequred by this instr uirregt. shall bear interest at the rate herein prawfKd1td, and, at the option of the mortgagee of the i ruciebtedness hereby secured or any transferee thereof. shall be imIW14tely due and payable. This fee is automatically waived if the assumer is exempt under the provisions of 38 .U.S.C. ' 1829 (b). (b)4lMPTION PROCESSING CHARGE• Upon applicatiev. for approval to allow assumption and transfer of this loan; * practssusg fee may be charged by the mortgagee or its autltnrmed agent for determining the creditworthiness of the assumer and su yr+Quently revising the holder's ownership records when an approved trar4fer is completed. The amount of this charge shall not exceed the maximum established by the Veterans Administration for a loan to which section 1817A of Chapter 37, Title 38, United States Coil: applies. (c) ,� INDEMNITY LIABILITY• If this gbiigsttion.is assumed, then the assumer hereby agrees to assume ail of the obiz8 –all ans of the veteran under the terms of t6-1 0040ants creating and securing the loan, including the obligation of the vritcran to indemnify the Veterans to the extent of any claim paymtpt arising from the guaranty or insurance of the indebtedness created by this instrument. IN WITNE :6. Vi KEREOF, Mortgagor(s) has executed this Assumption Policy Rider. RODERT E. WALKER (Seal) (Seal) Mortgagor FERRALL Y. W R Mortgagor 4 •SIS M" (Seal) Mortgagor VNPMOiTGAGE FORMS - 13131233 ,3100 - IS06152t•7251 — (Seal) Mortgagor i+► r� + ''i