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~4 `~~ ( ) (} 0 9 U ! 0900420-6 CAP ASSUMPTION RIDER TBIS RIDER is made this 22nd day of February ~1gR4 and is incorporated into and shall be deemed to amend and supplement the Deed of Trust or Mortgage (the "Security Instrument") of the same date given by the undersigned (the "Borrower") to secure Borrower's Note to Tower Financial, Inc. (the "Lender") of the same date (the "Note") and covering the property described in the Security' Instrument and located at: 47.2 Johnson Dr., (rand Island, "debraska 68801 (Property Address) In connection with the Note and Security Instrument executed by the undersigned Borrower and of even date herewith, Borrower and- Lender-hereby. agree to the following additional provisions: The following paragraph 25 is hereby adopted: 25. Transfer of Property; Assumption. Notwithstanding the provisions of paragraph 17 hereof, Lender shall waive its option to accelerate under paragraph 17 if (1) prior to such sale or transfer Borrower notifies Lender of the proposed transaction and sees that Lender is given any inforuat#on it may request in order to evaluate the person to whom the property is being. sold or transferred, (2) Lender determines, in Its sole discretion, that-assumption of the loan by the proposed purchaser or transferree will meet standards of - creditworthiness and security which are acceptable to it, which standards:- shall, insofar as may be practical, be the same underwriting standarda,as.axe then applied by Lender in connection with making a new loan, (3) the person. to whom the property is to be sold or transferred executes a written assumptfon agreement accepted in writing by Lender, agrees to pay an assumption fee which shall be equal to the origination, discount and other fees, charges and processing costs then being charged by Lender on similar new loans,,: and agrees to an increase in any applicable maximum interest rates as provided below, and (4) no other defaults ealst under the Deed of Trust or the. Note secured hereby. If this loan permits conversion to a fixed interest. rate and payment, then this rider shall only apply to a sale or transfer consummated prior to such conversion. Upon election of Borrower to convert to a fixed raie and/or payment, this rider shall terminate and shall have no force and effect on_-.any sale or transfer consummated thereafter. If this loan provides fqr any,; maximum interest rate, either with respect to the interest rate charged or the' interest rate on which new payment amounts are computed from time to time;. then such maximum rates will be increased one percent, consecutively, .for each assumption pursuant to this paragraph 25. Any such increase will be effective on the first change date following Lender's offer to approve the assumption if such transaction is thereafter consummated. ` ~ ~--~ ~„~~~ ~ Dated: February 22, 1984 <~ )~~~~y~~` ~,.~~~jjs~"t- ~andall C.. Flannigan ~, Borrower) ~;, ~~ ?r q;. ,Iear~A. FFlannigan ,' {Borrower) STATE OF NEBRASKA, Nall County, ss: T„he foregoing instrument ~s acknovled ed before me this ~-~,{.,~~y of ~~,19~~:bY /~knd~C( ~, C~~f et ~~_~ Witness my hand and official seal. My comoiasion expires: /;: ~' DENISf KAY LO WRY ..~f tl%t' ~ ~,~ { ~ ~ e` ~. !. GFNERACN07ARYStatadN~ {Nacary, ublic) j ••.~°we: ~_'~ dcy Cs+ms Far- sw- 25, 14Y~7 C?fC-021 (yc) new '_'iH5