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<br /> � NOTICE: THIS I.O,A�N IS NAY A5SUMA�L.� 1NITMOUT 1'HE APPR�VAL ��= ��`n
<br /> 'THE D�PA�iT�VIENT �� VE7'ERANS AF�AIRS OR IYS -=��
<br /> A�TM��IB��D AGENT. �:=:,
<br /> �-__-
<br /> ThIi9 ASSUMF''f1QN POLICV RIDER Is mede thie B_tlt___day o1 Oucambor , 199� . end is incorponted Into —�•
<br /> � and shall b� deeme� to nmend and eupplement the Martgege, Deed of Ynia1, or Deed to Secure Debt('Inatrument') of the seme tkte �
<br /> herewith,gh�an by 7he undersipned ('Modgagor')to aecure thu MoMgapor'a Note ('Note')01 the same date to Th�Overl�nd N�taonal ---
<br /> Bank af �rand Island �
<br /> Ite successoro and asslgns ('Mortg�gee')c;nd covedng the propeRy described In the Instrument and located at:]411 W�st Joh11 _
<br /> Stroet. P�rand Isla�d NAbrasks�89801
<br /> ' Property adaroco =
<br /> • � Notwithstandfnfl anyth(ng to tho cantrery set forth In the Instrument, MoRgagee und Mortgagcr haahy aclmowledga snd npree to lhe
<br /> tollowing: �
<br /> �." O�&�tiAN7'Y: Should the Department of Vetorana Attalrs fafl or refuse to issue fte gus�anty in tuil emount within 80 daya hom the dato that
<br /> • . thla loan would normaiy become eligiblo for such guaranty committed upon by tho Depertment of Veterena Afhire under the provlalom of -
<br /> Tltte 38 of tha U.S. Code 'Veterens Ben�Tite', tho Mortgagee may declare the Indebtedncss hereby secured at once due and payeble end __
<br />=� muy foreclose Immedlateiy or may exerdse any other dghte hereundor or take eny other praper action ae by law pro�idecf.
<br /> TRANSFER OF THE PRO�ERTY: If all or any pert of the praporiy or any Interast In R Is sofd or Uansterred, thla loan shall be _
<br /> Immediataty due and payable upon trenster('assumpUon') ot the property secudng suah loan to eny Uens(er�e ('asaume►'), unlaaa the
<br /> acceptabll!ty af the assumpUon and trensfer of this loan Is estebllahed by the Depnrtment of Veterens Affa4s or Its authorized ngent purswM _
<br /> ta section 1814 ot Chapter 37,Title 3B,United States Code. —
<br /> M authorized Vansfer('assumptlon') of the property shall also be subJect to additlonal covenanta and egrecmems ea set forth 6elow: _
<br /> �-
<br /> •`. (a) ASuUMPT�ON FUNDINO FEE: A tee equsl to on�haB of 1 percent (,6096)o}the unpald principal btdsnce o1 thla loen sa �
<br /> ,'. _
<br /> of the date of tren�fer of the properly shall be payable at the tlme of tranater to the mortgagse or Ite aNhortted egent, as trustee for the -
<br /> Secretary of Departmont of Yeterans Aflalrs. It the assumer fails to pay this tee at the Ume of tran3fer,fho tee sh�ll constitute an eddidonal -
<br /> debt to that already secured by this instrurnent, ehall bear interest at the rate hereln provide�l, and, et the option o1 the mortg�yee o1 the -
<br /> Indebtedness hereby secured or any trenaferee thereof,shatl be Immediately due and payable. ThI�tee Is eutomaUcaky walved H the assumer
<br /> • Is exempt under tho provlslona of 3B U.S.C.9728(c). �_
<br /> � (b) ASSUMP410N PROCESSINQ CHARGI�: Upon eppticatlon lor epproval to allo�v essumpUon ard Vanster of thb loan, e =
<br /> processing tee may bo charged by Iho mortgngee or fta sutho►ized agent for determining the aedNwoAhinoss af !he sssumer and F:,�
<br /> �• l subseyuenty rwlsing the holder'o ownershlp recorde when an epproved trenstes Is comptetad. The emaunt o1 this chupe eh�U not exceed
<br /> tho lesser at the maximum est�blished by the Departrnmt of Veterans Att�ra tor e loan to whlch Sec4lon 3114 0}Ch�pter 37,TfUe 33, United --
<br /> States Code spplles or n�y maxknum prescrWed by npp8cable State lew. ,
<br /> ,R,:
<br /> (c) ASSUMPTION INDEMNIiY UABILI7Y: It this obligaUon Is essumed, then tho assumer haeby agrees to assume all of the ''p
<br /> obNgaUons ot the voteran under the terms oi the InsUuments creaUng and securinfl the loan, hicludfng the obHgatlon of tha veteran to �
<br /> IndemiNy the pepartment ot Veterens Affatrs to tho ext°nt ot any clalm payment arfsing hom tho guarenty or Insurence of the indebtedness
<br /> created by thls InsVUment. '.
<br /> � IN WITNESS WHEREOF,tho grantor has hereunto aet hls hand end sea) on the day end year first hereinbefore written.
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