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<br />200902939 <br /> <br />ASSUMPTION RIDER <br /> <br />THIS LOAN IS NOT ASSUMABLE <br />WITHOUT THE APPROVAL OF THE <br />DEPARTMENT OF VETERANS AFFAIRS <br />OR ITS AUTHORIZED AGENT. <br /> <br />THIS ASSUMPTION RIDER is made this 17th day of March 2009 , and is incorporated <br />into and shall be deemed to amend and supplement the Mortgage, Deed of Trust, or Security Deed (the <br />"Security Instrument") ofthe same date given by the undersigned (the "Borrower") to secure Borrower's Note <br />to iFREEDOM DIRECT CORPORATION, A CORPORATION <br /> <br />(the "Lender") ofthe same date and covering the Property described in the Security Instrument and located at: <br />1015 SOUTH PLUM STREET <br />GRAND ISLAND, NE 68801 <br /> <br />[Property Address] <br /> <br />ASSUMPTION COVENANTS. In addition to the covenants and agreements made in the Security <br />Instrument, Borrower and Lender further covenant and agree as follows: <br />A. Acceleration Clause. This loan may be declared immediately due and payable upon <br />transfer of the property securing such loan to any transferee, unless the acceptability of the <br />assumption of the loan is established pursuant to Section 3714 of Chapter 37, Title 38, United <br />States Code. <br />B. Funding Fee Clause. A fee equal to one-half of I percent of the balance of this loan as <br />of the date of transfer of the property shall be payable at the time of transfer to the loan holder or <br />its authorized agent, as trustee for the Department of Veterans Affairs. (fthe assumer fails to pay <br />this fee at the time of transfer, the fee shall constitute an additional debt to that already secured by <br />this instrument, shall bear interest at the rate herein provided, and at the option of the payee ofthe <br />indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. This <br />fee is automatically waived if the assumer is exempt under the provisions of38 U.S.c. 3729(c). <br />C. Processing Charge Clause. Upon application for approval to allow assumption of this <br />loan, a processing fee may be charged by the loan holder or its authorized agent for determining <br />the creditworthiness of the assumer and subsequently revising the holder's ownership records <br />when an approved transfer is completed. The amount of this charge shall not exceed the maximum <br />established by the Department of Veterans Affairs for a loan to which Section 3714 of Chapter 37, <br />Title 38, United States Code applies. <br />D. Indemnity Liability Assumption Clause. If this obligation is assumed, then the assumer <br />hereby agrees to assume all of the obligations of the veteran under the terms of the instruments <br />creating and securing the loan. The assumer further agrees to indemnifY the Department of <br />Veterans Affairs to the extent of any claim payment arising from the guaranty or insurance of the <br />indebtedness created by this instrument. <br /> <br />MlILTISTATE VA ASSlJMPTION RIOER~Single Family-UNIFORM INSTRIIMENT <br /> <br />ITEM 7550L1 (040808) <br />HAINES,L0000326486 <br /> <br />LL\\ <br /> <br />3DH-. <br /> <br />GreatDocsTt,II <br />(Page 1 of 2) <br />0000326486 <br />