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_ .__�_ r � . .-�. -�'`"� � �`r�`• � .�5�. �"--- _ ;i� .. . - --- .. .,P,.. . _�� .��. _ -_-_ _ . � ' ' ,. — 1511070 � ~� . — _ -_ -_= 94" �.oi48� � V.A. GUARANTEED LOAN AND ASSUMPTION PQLICY ItIDER �' ` NOTICE:THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL UF - �, --- --- THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS V.A.C3UARANTEED 1.OAN AND ASSUMPTION POLICY RIDER i: made this 18th d�y of Febt�l,tnry . 1994 �and is incorporated into and shall bc deemed to amend and�uppkment the Mort�a�e�Dood of Trust or Dad to Secure Debt{herein"Secudty Iruuumrnt")duod of'evan due hecewith. �iven by the undersi�ned(herein"Borrower")ta secure Borrower's Note to . _�=— �� Plorwest Mortgage, Inc. (herein"Lender") -r��•� and coverin�the Property described in the SecuricY Instrument and located �t I3* ,� � s� ---=-=a:-�.�:a 403 North Church Street - Doniphan, NE 68832 - . (Propcny Addrw) • ` "''=�'<� V.A.QUARANTEED LOAN COVENANT:ln addition to the covenants and a�reemenu made in the Securlty e .�.�....�'��':#-�'<, Instrument, Borrower and Lender furthtr covenant and agrce as follows: ' � If the indebtedness secured hereby be guatanteed or insured under Title 38. Unitcd States Code, such Title � and Regulations issued thereunder and in effect on the date hereof shall govern the ri�hts,duties and liabilities of Bortower and Lender.My provlsions of the Security Instrument or other instruments executed tn connection ° ' with said indebtedness which are inconsistent with said Title or Regulations.including, but not limited to, ' the provision for payment of any sum in connection with prepayment of the secured indebtedness and the provision that the Lender may accelerate payment of the secured indebtedness pursuant ta Covenant 17 of - ' the Security Instrument,are hereby amended ot negated to the extent necessary to wnform such instruments to said Title or Rcyulations. j'`' ' -° � ' � LATE CHAR(3E:At Lender's option,Borrower wtll pay a"late charge"not exceeding four per centum(440) ' • of the overdue payment when paid more than�fteen(IS)days after the due date thereof to cover the extra . . expense involved in handling delinquent payments, but such "late charge" shall not be payable out of the — -----_---- praccecl�of sn;salc madP t��a�isfy the indebtedness secured hereby,unless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured hereby. GUARANTY:Should the Departmcnt of Veterans Affairs fail or refuse to issue its guaranty In full amount � ' within 60 days from the date that this loan would normally become eligible for such guaranty committed upon . by the Department of Veterans Affatrs under the provisions of Title 38 of the U.S.Code"Veterans Bene�ts," the Mortgagee may declare the indebtedness hereby secured at once due and payable and may foreclose - immediatcly or may exercisc any othcr rights hereunder or take any other proper action as by law provided. I TRANSFER OF THE PROPERTY:If all or any pnrt of the Property or any interest in it is sold or transfecred. ��.,; � . ' this loan may be declared immediately due and payable upon transfer("assumption")of the property s:curing w such loan to any transferee("assumer"). unless the acceptability of the assurnption aud transfer of this loan ; + is established by the Departmcnt of Veterans Affairs or its authorized agent pursuant to Section 3�14 of Chaptcr 37,Title 38, United States Code, An authorized transfer("assumption") of the property shall also be subject to additional covenants and , agreements as sct forth belo�e: (a) ASSUMPTION FUNDING FEF.;A fee equal to onc-half of 1 percent(.50%)of the unpaid principal balancc of thls loan as of the date of transfer of the property shall be payable at the time of transfer to the mortgagee or its authorized agcnt, as crustcc for the Department of Veterans Affairs. If the assumer fails to pay this fce at the timc of transfcr. thc fcc shall constitute an additional dcbt to that ulready secured by this instrument,shall bcar interest at the ratc herein provided,and,at thc option of the mottgagce of the indebtcdness � hercby secured or any transferec thereof,shall be immediatcly due and payable.This fee is automaticaqy waived if the assumer is cxempt undcr the provisions of 38 U.S.C. 3729(b). (b) ASSUMgT(ON PROCES I � 'HARC;E: Upon Application for approval to allow assumption and transfer of�his loan,a proccssing fcc may be chargcd by the mor�gagcc or its authorized agent for detcrmimng the creditworthinrss of the assurner and subsequently revising the holder's owncrshi�records when an app�o��d transfer is completed. The amount oF this chargc shaU not exceed the Iesser of the maximum established by . 1 thc Departmcnt of Vetcrans Affairti for a loan to�►•hi�h Scrtion 371�1 of Chapter 37.Title 38, United Statcs ' Codc applics or any maximum prrscrihcd by applicablc St�tc la�v. � (c► A��1QTI0 INDE:MNITY I_[A�3�I.ITY: If thi,obligation is assumed, thcn thc as�umcn c�reby agrcr�to atisumc all of thr obli�ationc of thr�rtrran undcr thc trrmti of'thc ins[rumcntti crcating and xruring ' thc loan,including thc obligaticm of thr veccran to indcmnify thr Dcpartment o(Vrtcrans Affairs to thc rxtent � of any claim pa�•mm�t ari,ing t'rom thc guarant�•or insurance of thc indcbtcdncsti crratcd by thi5 instrumcnt. � IN WITNESS�YHEREOF,Horro��•cr(s)has rxc�uted thi�V.A.Guaranteed Loan and Assumption Policy Rider. . • � ► � � � ��n��'�, .�.�1�� --�� L�- , �� 4��--- ' � s ---- .Horra��cr L15d J. Delt�a -�+„«�,�« � Leonard D. Delka l�, _ __. __- ._._•__"' .-.'-_- - •1lurro��cr •Burn��ci ' � i V.A. dUARANTEED LOAN ANO ASSUMPTION POLICY RIDER 8�82 � f ' ! � �-638�.'.+ t'h�Pti7f1NIf�AIJ {11Hl.1ti • �H�)tl�',;1 i)��1 ` NMFL•3274 J83 1 � ((IIII�1 IIIIII I�I IIIIII IIII�III IIII i i '• � ._ - - - . . ------ ----