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X00909343 v7 WBCD LOAN # 502749972 CASE #: 34-34-6-0178327 VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER 7211 NOTICE: THIS LOAN IS NOTASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER is made this 18TH day of NOVEMBER, 2009, and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Deed to Secure Debt (herein "Security Instrument") dated of even date herewith, given by the undersigned (herein "Borrower") to secure Borrower's Note to ACCEPTANCE FIRST MORTGAGE CORD, A NEBRASKA CORPDRATION (herein "Lender") and covering the Property described in the Security Instrument and located at 2322 W 10TH ST GRAND ISLAND, NE 68803-3655 VA GUARANTEED LOAN COVENANT: In addition to the covenants and agreements made in the Security Instrument, Borrower and Lender further covenant and agree as follows: If the indebtedness secured hereby be guaranteed or insured under Title 38, United States Code, such Tide and Regulations Issued thereunder and in effect on the date hereof shall govern the rights, duties and liabilities of Borrower and Lender. Any provisions ofthe Security Instrument or other instruments executed in connection with said indebtedness which are inconsistent with said Title or Regulations, including, but not limited to, the provision for payment of any sum in connection with prepayment of the secured indebtedness and the provision that the Lender may accelerate payment of the secured indebtedness pursuant to Covenant 18 Of the 5ecurit~ Instrument, are hereby amended or negated to the extent necessary to conform such Instruments to said Title or Regulations. LATE CHARGE: At Lender'soption, 8orrowerwill paya "latecharge" notexceeding four er centum (4%) oftheoverduepaymentwhenpaid marethanfifteen (15) daysaftertheduedate thereof to cover the extra expense Involved in handling delinquent payments, but such "late charge" shall not be payable outofthe proceeds ofany sale madeto satisfythe indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured hereby. GUARANTY: Should the Department of Veterans Affairs fail or refuse to issue its guaranty in full amountwithin 60 daysfrom thedatethatthis loan would normally becomeeligibleforsuch guaranty committed upon bythe DepartmentofVeteransAffairs undertheprovisions ofTitle 38 of the U.S. Code `Veterans Benefits," the Mortgagee may declare the indebtedness hereby secured at once due and payable and may foreclose immediately or may exercise any other rights hereunder or take any other proper action as by law provided. TRANSFER OF THE PROPERTY: This loan may be declared immediately due and payable uppon transfer of the property securing such loan to any transferee, unless the acceptability of the assumption of the loan is established pursuant to Section 3714 of Chapter 37, Title 38, United States Code. An authorized transfer ("assumption") of the property shall also be subject to additional covenants and agreements as set forth below: (a) ASSUMPTION FUNDING FEE: A fee equal to one-half of 1 percent (.50%) of the balance of this loan as of the date of transfer of the properly shall be payable at the time of transfer to the loan holder or its authorized agent, as trustee for the Department of Veterans Affairs. If the assumer fails to pay this fee at the time of transfer, the fee shall constitute an VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER Initials s ® 1999, 2008 Online Documents, Inc. Page 1 pf 2 P875 ASR 0805 11-17-2009 17:24