88103425 - Laserfiche WebLink

Browse

88-103,12~ FHA ASSUMPTION POLICY RIDER NOTICE: TmS RIDER ADDS A PROVISION TO THE INSTRUMENT ALLOWING THE MORTGAGEE TO REQUIRE PAYMENT OF THE NOTE IN FULL UPON TRANSFER OF ALL OR PART OF TIllE PROPERTY. This Assumption Policy Rider is made this 23 rd day of June ,19 aa , and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure Debt (the "Instrument") of the same date given by the undersigned (the "Mortgagor") '0 secure the Mortgagor's Note (the "Note") of tb~ g'@IJ CORPORATIOH , (the "Mortgagee") and covering the property described in the Instrument and located at: 1021 WEST 8TH 6RAHII ISlAND IE 688G1 ' (Property Address) AMENDED COVENANT. In addition to the covenants and agreements made in the Instrument, Mortgagee and Mortgagor further covenant and agree as follows: The Mortgagee shall, with tbe prior approval of the Federal Housing Commissioner, or his designee, declare all sums secured by this mortgage to be immediately due and payable if all or part of the prop- erly is sold or otherwise transferred (other than by devise, descent or operation of law) by the mort- gagor, pursuant to a contract of sale executed not later than ~12 D 24 months after the date on which the mortgage is endorsed for insurance, to a purchaser whose credit has not been approved in accordance with the requirements of the Commissioner. IN WITNESS WHEREOF, the Mortgagor has executed this Assumption Policy Rider. ~~~ (SeW) ~R.t'L~~~ 6lEH L. SUTTON Mortgagor ft. sun J (Seal) Mortgagor (Seal) Mortgagor (Seal) Mortgagor (Sign Original Only) NOTE: If the property is not the principal or secondary residence of the Mortgagor, 24 months will be checked instead of 12 months. (Space below Ihis line for acknowledgement) _,:621 188021 FHA A8sumpllon Policy Rider - Mu11181"le VMP MOR10AG~ FORMS' 13131293 nl00 . 18001621 7791 2188