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99 112038 VA ASSUMPTION POLICY RIDER NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF : THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS ASSUMPTION POLiCY RIDER is made this 20th day of December , 1999 . and is incorporated into : and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt ("Instrument") of the same dete : herewRh, given by the undersgned ("Mortgagor") to secure the Mortgagor's Note ("Note") of the same date to UNITED NEBRASKA BANK its successors and assigns ("Mortgagee") and covering the property described in the Instrument and bcated at: 821 W CHARLES GRAND ISLAND NEBRASKA 68801 Prop�rty Addrssa Notwithstanding anything to the contrary set forth in the instrument, Mortgagee and Mortgagor hereby acknowledge and agree to the folbwing: GUARANTY: Should the Department of Veterans Affeirs fail or reiuse to issue ks guaranry in full amount wkhin 60 days from the date that this ban would nortnaly become elgible for such guaranty committed upon by the Department of Veterans Affairs under the provisions of Title 38 of the U.S. Code "Veterans Benefits", the Mortgagee may declare the indebtedness hereby secured at once due and payable and may forecbse enmedietey or may exercise any other rights hereunder or take any other proper actbn as by law prov'ided. TRANSFER OF THE PROPERTY: If all or any paR of the property or any interest in it is sold or transferred, this ban may be declared immediatey due and payable upon transfer ("assumption") of the property securing such ban to any uansferee ("assumer"), unless the acceptabNity of the assumption and transfer of this ban is established by the Department of Veterans Affairs or ks authorized agent pursuant to sectbn 3714 of Chapter 37, Tkle 38, Unked States Code. An suthoraed transfer ("assumptio�") of the property shali also be subject to additional covenants and agreements as set forth bebw: (a) ASSUMPTION FUNDING FEE: A fee equal to on�half of t percent (.5096) of the unpaid principel balance of this ben as of the date of transfer of the property shall be payable at the time of transfer to the mortgagee or ks author'ized agent, as Wstee for the Department of Veterans Affairs. If the assumer fails to pay this fee at the time of transfer, the fee shail constkute an additional debt to that akeady secured by this instrument, shall bear interest at the rate herein provided, and, at the option of the mortgagee of the �debtedness hereby secured or any transferee thereof, shali be immediatey due and payabl�. This fee is automaticaly waived if the assumer is exempt under the provisions of 38 U.S.C. 3729 (c). : (b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow assumption and transfer of this ban, a processing fee may be charged by the mortgagee or ks autho�ized agent for determining the creditworthiness of the assumer end subsequently revising the holders ownership records when an epproved transfer is completed. The amount of this charge shall not exceed the lesser at the meximum established by the Department of Veterans Affairs for a loan to which Section 3714 of Chapter 37, Title 36, United States Code applies or any maximum prescribed by applicable State law. : (c) ASSUMPTION INDEMNITY LIABILITY: If this obligation is assumed, then the assume� hereby agrees to assume all of the obligations of the veteran under the terms of the instruments creating and securing the ban. The assumer further agrees to indemnify the Department of Veterans Affairs to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrument. IN WITNESS WHEREOF, the grantor has hereunto set his hand and seal on the day and year first hereinbefore written. (��) ��t��eo� T E J N Y (SE/�L) Mortgagor ($EAL) Mortpagor (SEAL) Mortyagor F5868.LM0(3/99) 1151 �_