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<br />88-10424S <br /> <br />FHA ASSUMPTION POLICY RIDER <br /> <br />NOTICE: THIS RIDER ADDS A PROVISION TO THE INSTRUMENT ALLOWING THE MORTGAGEE TO <br />REQUIRE PAYMENT OF THE NOTE IN FULL UPON TRANSFER OF ALL OR PART OF THE PROPERTY. <br /> <br />This Assumption Policy Rider is made this 1 st day of Rugust . 19 88 . and is <br />incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Deed to Secure <br />Debt (the "Instrument") of the same date gh~t;:n by the undersigned (the "Mortgagor") to secure the Mortgagor's <br />Note (the "Note") of tlfcPmWle ~ CORPOllIlTIOIi <br /> <br />(the "Mortgagee") and covering the property described in the Instrument and located at: <br />5H JOHNSON PLRCE GRAND ISLAND liE l>1l603 <br /> <br />(Property Address) <br /> <br />AMENDED COVENANT. In addition to the covenants and agreements made in the Instrument. Mortgagee and <br />Mortgagor further covenant and agree as follows: <br /> <br />The Mortgagee shall, with the prior approval of the Federal Housing Commissioner. or his designee. <br />declare all sums secured by this mortgage to be immediately due and payable if all or part of the prop- <br />erty is sold or otherwise transferred (other than by de\ise, descent or operation of law) by the mort- <br />gagor, pursuant to a contract of sale executed not later than ~12 024 months after the date on <br />which the mortgage is endorsed for insurance, to a purchaser whose credit has nOI been approved <br />in accordance with the requirements of the Commissioner. <br /> <br /> <br />SS WHEREOF, ~~e/ Mortgagor has executed this As~umPtion ~oliCY Ridr' I <br /> <br /> <br />(Seal) ~J--,{h-ud.,.J 4{' __./~~.J (Seal) <br />Mortgagor r;rr G. SCHAUER Mortgagor <br /> <br />(Seal) <br />Mortgagor <br /> <br />(Seal) <br />Mortgagor <br />(Sign Original Only) <br /> <br />NOTE: 1 f lhe property is nOllhe principal or !oecondary residence of the Mortgagor. 24 months will be checked instead of 12 months. <br />(Space below this line for acknowledgemenl) <br /> <br />....621 C88021 FHA A8Gumption Policy Rider - MultiBt81e <br />VMP MORTGAGE FORMS. 13131293.8100 . '8001521 729' <br /> <br />2/88 <br />