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<br />88-106186 <br /> <br />FHA ASSUMPTION POLICY RIDER <br /> <br /> <br />J NOTICE: THIS RIDER ADDS A PROVISION TO THE INSTRUMENT ALLOWING THE MORTGAGEE TO <br />REQUIRE PAYMENT OF THE NOTE IN FULL UPON TRANSt;ER OF ALL OR PART OF THE PROPERTY. <br /> <br />This Assumption Policy Rider is made this 17 th day of Hove.be. ,19 88 , and is <br />incorporated into and shall be deemed to amend and supplementtbe Mortgage, Deed of Trust, Dr Deed to Secure <br />Debt (Ibe "Instrument") of the same da!~.g!~~n llY tbe undersigned (the "Mortgagor") to secure tbe Mortglgor's <br />Note (the "Note") of t~lMll~ I:\IHPlJlATIOII <br /> <br />(the "Mortgag~~{5 ';~T cf~ring tb~PIe~esc'it\'e~~ibe Instrument and located at: <br /> <br />(Properl)' Address) <br /> <br />AMENDED COVENANT. In addition to tbe covenants and agreements made in tbe Instrument, Mortgagee and <br />Mortgagor further covenant and agree as follows: <br /> <br />The Mortgagee sball, with the prior approval of tbe Federll Housing Commissioner, Dr bis designee, <br />declare all sums secured by this mortgage to be immediately due and payable if all Dr part of tbe prop. <br />erty is sold Dr otbcrwise transferred (other tban by devise, descent Dr operation of law) by the mort. <br />gagor, pursuanlto a contract of sale executed not later tban ~12 0 24 montbs after tbe date on <br />wbicb the mortgage is endorsed for insurance, to a purcbaser wbose credit bas not been approved <br />in accordance with the requirements of the Commission~r. <br /> <br /> <br />(Seal) <br />Mortgagor <br /> <br /> <br />(Seal) <br />Mortgagor <br /> <br />IN WITNESS WHEREOF, the Mortgagor bas executed tbis Assum <br /> <br />,-- <br /> <br />(Seal) <br />Mortgagor <br /> <br />(Seal) <br />Mortglgor <br />(Sign Original Only) <br /> <br />NOTE: If the property is not the principal or secondary residence of the Mortgagor. 24 months will be checked. instead of 12 montbs. <br />(Space below this line for acknowledgement) <br /> <br />..:621 1118021 FHA Assumption Policy Rider - Multlslate <br />VMP MORTGAGE FORMS. 13131293-8100 . 18001521-7291 <br /> <br />2/88 <br /> <br />I , <br />