|
. � �
<br /> . . , •�
<br /> ...>: _ .� .
<br /> .... .......
<br /> , ,. . . „ • ..
<br /> . . " APPI,# 301—5061402 7 , .
<br /> ,. � • , ,�9�- �.�49�2 �, :
<br /> �
<br /> V.A.GtJAIdANTEED LOAN AND ASSUMPTION POLICY RIDER f
<br /> N�TICE: THIS LOAN IS NOT ASSUMA�LE WIT'HOUT
<br /> TH� A,PPROVAL OF THE DEPAItTMENT OF VETERANS �
<br /> � � A�FAIRS OR ITS AUTH012IZEB AGENT. „
<br /> , .,
<br /> ., l THIS V.A.CiUARANTBBD LOAN AND ASSUN�TION POLICY RIDER is mude�his 20� duy of
<br /> � auLY � 1995 �and is lncorporated into and shaU be deemcd to amend and supplement 1he
<br /> " Mortgage. Deed of Trust or poed to Secura Debt(hereln "Securlty Instrument") dated of even date herewith.
<br /> . � IIlven by the undersigncsd(hereIn"Borrower")to socure 8orcower's Note to
<br /> HOMB FF.DERAL SAVINC3S & LOAN
<br /> , (herein "i.ender")
<br /> . aad coverit►g the Properiy described in ths Securlty InsWment and located at ., .
<br /> • • 9ia WEST 13TH
<br />. • aR11ND ISL�ND, NBSRP..SIW 68803 .
<br /> • (Property Addm�s)
<br /> � ., V.A.tiUARAlV18SD LOAN COVENAIVT: Ia eddItlon tn the covensnts and agc�eemenis made in the Security
<br /> � " . Inswmet��Bomower aad L,eaider further oovea�ant and agree a�follows:
<br />- If the iadebtedness secured hereby he guatauteed or insured unda Tide 38, United States Code.such'I�tt$and .
<br /> � Reguiadons issued thereiueder and in effect on the date kereof shall govem the rights,dutles and liabi�ties of
<br />; •� Borrower end Lender.Aay provisions of the Security Instrument or other ins�uments executed in connecdon with . .
<br /> � seid lndebtedness which are inconsiscent with said Title or Reguladons,inclucl�ng,but aot llm3ted ta,tlte provlsion �
<br /> for paymeat of any sum in connection wtth prepayment of the socured indebtedness and tbepr+ovision that the
<br /> � Leader may accelerate payment of the secu�ed indebtedness pursuant to Covenant 1?of the Se�urIty Instrun�ent,ere
<br /> • ,h' hereby amended or negated to 1ha extent necessary to conform such iasuuiaents to said Tule or Reguledans. , _
<br /> � � LA7E CHARaB: At Lender's op�on,Boirower wlll ay a"late charge••not axceediag faur per cer�wm(496)of ° ,. �''� ,.
<br /> , the overdue payment when paid more than fitteen(1�days aftet the due daIe thereof to cavrr the extra eupense ;:
<br /> involved ia handling dellaquent paymeats.but such "late cherge•'shall aot be payable out of the of eny k, .,��i
<br /> sale made w �the iadebtedness secured hemby. nnless such proceeds are sufficient to dtsc e the eatire
<br /> i n d e b t e d n�s a nd p r o p e r costs and e x p e n s e s secured hereb y. , ,
<br /> .�'�_ _
<br /> ---— OUARAN'TY:Should the Depamnent of Veterans Aftatrs tai►or re�use w issue i�s guaranry�full emount wi�hin -.
<br /> 4
<br /> 60 daya from the date that this loan would nomaally become eUx(ble for such guarant�►cornmiued upon by the . �.�� `
<br /> � Departmeat of Veterans Affa[is uuder the pmvislons of Tide 38 of the U.S. Code 'Veterans Benefits;' the � � E :
<br /> . , Moitgagee may de�lare the indebtedness hexeby secured at once due aad payRlile and may foreclose Lnmodiately or , . • ';�
<br /> :. , � may exa+cise any other�ights hereunder or mke any other proper acdoa as by law providad. .
<br /> ..> . -���,
<br /> TRANSFBR OF TI�PROPBRTY:If all ar eny part of the Prope�ty or any iaterest in it is sold oz vansfe�rEd,th�s . .y ' .
<br /> , . Wan may be declared Lnmediately due and payable upon vansfer(••assnmgHon")of the yroperty securing sucb ;;
<br /> loan to any transferee ("assumer"), ualess the acce�+tabitity of the assumpdon aad �'er of this loan Is „ �
<br />. esmblished by d�e Depanmeut of Vetuans Affeirs or its suWorized ageat pursuant to Secdon 3714 of Chapter 37. . ��
<br /> . , ° Title 38.United Sffites Code. �•'�r---
<br /> .. .-.,f_-
<br /> , � . ' . An au�horizod transfer(�•agsumption")of the propaty shell also be subject w addittonal covenauts and�eata %_� """
<br /> , as set forth below:
<br /> 1� ' . f14:.. u
<br /> " (a)ASSUA�TlON FqJ,,,,�iDIN(3 FBB:A foecqual to on�half of 1percent(.50�)of the unpaid balanco oE this ;�,: , � .�
<br />- " loan es of the date of�nsfer of tho prope�ty shall be payable at the time of traasfer w the mortgagoe or its . "'"•�
<br /> , � ". authorized ageat�ag t�ustee for WeDe�m eat of Veterens Affuirs.If tha essumer fails w pay�is fee at tho time of ,. +��y_,;;.
<br /> �; nansfer.the fea shall wnstiwta an additi�nal debt w thnt already secured by thia ins�ument,shall bear inte�est at the �,,�.;,;;.
<br />_ � rate herei�n provided, and. at the option of the mortgagoe of the indebtedc�ess hereby secused or any nansferee ��,,,:�..?N'�
<br /> an:
<br /> � thereof�shall be immediately due and payable.This fee js auwmaticcelly waived if the assumer is ea�empt under the ' �-
<br /> ali
<br />-� ; ' provisions of 38 U.S.C.3729(c). ,
<br />,_
<br /> .�,�-
<br />- -- .�-..... .. � .
<br />'-' �• ., (b) ASSUMP'ITON PROCHSSING4 CHARGH: Upon appllcati0n fOI approval tn e110w assump6on and �- -
<br />- tranafer of this loun,a p g fee may be cherged by the mortgegce or tts suthonzod agent for deteamining the -. ;.;' �•
<br /> � ae�{tworthiness of the assumer and subseq►�cnQy revising the Tiold�'s ownership recards when anepproved , . . ..,,,
<br /> - transf��s completed. 7Tie amount of this charge shall not exc,eed the lesszr of the manimum established by the '
<br /> - Depertiaent of Vetaans Affairs for a loan to which Section 3714 of Chapter 37. 15t1e 38,United S�tes Code
<br />� appltes or any ma�cimum prescrlbed by appli¢able State law. .
<br />-�> : ,
<br /> �.., �:,
<br />� ' (c)ASSUNIPfION INDEMIVTI'Y LIABILITY:If this obligation is assumed.then the�sumer heceby agrees
<br /> ? to agsume all of the obligadons of the veteran under the terms of the instru�rtents creating and securtng the Yoan. ° '
<br />� iacludIng ihe obligedon of the vetaar►to indernnify the Department of Veterans Affafrs to the ext�ent of any ciaim
<br /> � payment arlsing from the guaianty or insurance of the lndebtedness created by this instru�rnent .
<br />-- IN WITNBSS WI�ILEOF.Borrower(s)has executed this V.A.Guerantoed Loan and Assumption Pollcy Rider.
<br />-; .,
<br /> : ^
<br /> 3... , S�/s��.ft d �.ATJ�!/ � .1 r1��t) y� % I ).t�/ �.Y
<br /> ,
<br /> ,, _ : - - :- ���„�c6,�,a,,,;• • ...�-�
<br /> ` - `------r--=
<br /> � • MARK 3 MOTTL •Borrower S�INDRA E MOTTI. -Horroaar
<br /> _�
<br /> i,. , •Borrower •$orrowet ° .
<br /> fV.A.OUARANTEED LOAN AND
<br /> � A88UYPTION POLICY RInER .
<br /> �VMP YORTOAOE FORMB•(8001621•7Z0 8f84 I IIlII�I ill�ll Illllll�lllli IIIIIlii I �
<br /> � �
<br /> f ". I
<br />'i. � .,
<br /> '' I
<br /> v �;�
<br /> . . _. . .__ . __..� _._ ... _a... _.- __ _
<br />
|