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VA ASSUMPTION POLICY RIDER rtC- 200213652 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 22nd day of November 2002 and is incorporated into and .vhall be deemed to amend and supplement the Mortgage, Deed of 'Trust, or Deed to Secure Debt ("Instrument t) of the same date herewith, given by the undersigned ( "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 located at 3034 W 14th Grand Island, NE 68803 Notwithstanding anything to the contrary set forth in the Instrument, Mortgagee and Mortgagor hereby acknowledge and agree to the following- GUARANTY: Should the Department 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 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 foreclose immediately or may exercise any other rights hereunder or take any other proper action as by law provided. TRANSFER OF THE PROPERTY: If all or any part of the property or any interest in it is sold or transferred, this loan may be declared immediately due and payable upon transfer ( "assumption ") of the property securing such loan to any transferee ( "assumer"), unless the acceptability of the assumption and transfer of this loan is established by the Department of Veterans Affairs or its authorized agent pursuant to section 3714 of Chapter 37, Title 38, flailed States Code. An authorized transfer ( "assumption ") of the property shall also be subject to additional covenants and agreements as set forth below. (a) ASSUMPTION FUNDING FEE: A fee equal to one -half of 1 per (.50m) of the unpaid principal balance of this loan as of the date of transfer of the property shall be payable at the time of transfer to the mortgagee or its authorized agent, as trustee for the Department of Vctcrans Affairs. If the assumer fails to pay this fee at the time of transfer, the fee shall constitute an additional debt to that sit eady secured by this instrument, shall bear interest at the rate herein provided, and, at the option of the mortgagee of the indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. This fee is automatically 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 loan, u processing fee may be charged by the mortgagee or its authorized agent for determining the creditworthiness of the assumer and subsequently revising the holder's ownership records when an approved transfer is completed. The amount of this charge shall not exceed the lesser at the maximum established by the Department of Veterans Affairs for a loan to which Section 3714 of Chapter 37, Title 38, Unfired Stares Code applies or any maximum prescribed by applicable State law. (c) ASSUMPTION INDEMNITY LIABILITY: If this obligation is assumed, then the assumer hereby agrees to assume all of the obligations of the veteran under the terns of the instruments creating and securing the loan. 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 die indebtedness created by this instrument. IN WITNESS WHEREOF, the grantor has hereunto set his hand and seat on the day and year first herembefore written. - , �- `l/ Y (SRAL) M"arw, °r Davi (t E Hay /news (SEAL) Ma*g`+e�r Lfn. A Haynes Mo',� M....... (SEAL) MnnL'aAnr Mortgagor Wa.CV(o.,) Ifi15911 GOTO(0003979L