88103048 - Laserfiche WebLink

Browse

79399-1-30 V A HOME LOAN RIDER 88- 10:1048 THI S VA HOME LOAN RIDER is ude t~ i s _)J!.tJL. .day of ____-!.l!.I!.~._______, 19._~~, and is incorporated into and shall be deemed to amena and supplement a "ortgage, Deed of Trust or Deed to Secure Debt (herein , .security instrument") dated of even date herewith, given by the undersi gned (herein "Borrower.) to secure Borrower' sNote to !..I~~J_!.E:'pj:~_k EbYJ.~g~_~!U..9MtM~.9fJ~J'J.9K9.F_J..Jll'~.9j..lt- (her ei n "Lender.) and covering the Property described in the security instrument and located at___________ ~~~--------------------~~~F~-~~J~F-~--~ep~~~-~--~~~PJ-__________ (Property Address) In addition to the covenants and 'agreements made in the r;;ecurity instrument, Borrower and Lender further covenant and agree as follows: As the indebtedness secured hereby is to be guaranteed or insured under Chapter 37 of Title 38, United States Cod~, such Title and Regulations issued and in effect on the date hereof shall govern the rights, duties and liabilities of Borrower and Lender. Any prDvisi~ns of the security instrument which are inconsistent with said Title Dr Regulations, including, but not limited to, the provision for payment of any sum in connection with prepayment of the secured lndebtedness, are hereby amended Dr negated to the extent necessary to conform such instruments ta said Title or Regulations. ~;~ ~;~!!Q~ !~!Z~ QE !!!b~ e~Q 8~~Ybe!!Q~~ This loan is immediately due and payable upon transfer of the property securing such loan to any transferee, unless the acceptability of the as&Umptlon of the loan is established pursuant to Section IBl7A of Chapter 37, Title 38, United States Code. A fee equal to one-half of I percent of the balance of this loan as of the date of transfer of the property shall be payable at the time of transfer to the loan holder or its authorized agent, as trustee for the AdAinistrator of Veterans Affairs. If the assumer fails to pay this fee at the ti.e of transfer, the fee shall constitute an additional debt to that already secured by this in~trument, shall bear interest at the rate herein provided, and, at the option of the payee of the indebtedness hereby secur~d or any transferee thereof, shall be i.mediately due and payable. This fee is automatically Maived if the assumer is e~empt under the provisions of 38 U.S,C. IB~9(b), Upon application for approval to allow assumption of this loan, a processing fee may be charged by the loan holder or its authori~ed 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 ma~imum established by the Veterans Administration for a loan to which Section IBl7A of Chapter 37, Title 3B, United States Code applies, If this obligation is assumed, then the assumer hereby agrees to assuae all of the obligations of the veteran under the terms of the instruments creating and securing the loan, including the obligation of the veteran to inde.nify the Veterans Administration to the e~tent of any claim payaent arising from the guaranty or insurance of the indebtedness created by this instrument. IN THE EVENT THAT THIS LOAN IS DETERKINED TO BE INEllGIBlE FOR LOAN 6UARANTV BY THE VETERANS ADKINlSTRATION, THE ENTIRE LOAN KAY BE DEEMED DUE AHD PAVABLE AT THE OPTION OF THE KORTGAGEE, IN WITNESS WHEREOF, Borrower has e~ecuted this VA Guaranteed Loan Rid.r. ~~_ 2h. _~-s:"::'~~_~ _ _ _ __ _ (Sea I ) w~c D Ra A/J,J' '(r Borrower e. OO~~~ r. _ '>~~~i.~~0:~~"~~(Seal) Zu~ y E./H~ood - Borrower YA HOME LOAN RID(R-.Slngle Family rlMA/fHLf'lC Un; (o,-m In>trumenl