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~oo9o9sss V5 WBCD LOAN # 50280609$ CASE #: 34-34-6-0178762 MINI 100052550280609859 VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER NOTICE: THIS LOAN IS NOT ASSUMABLE WITHOUT THE APPROVAL OF THE DEPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. THIS VA GUARANTEED LOAN AND ASSUMPTION POLICY RIDER is made this 11TH day of DECEMSER, 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 t0 ACCEPTANCE FIR5T MORTGAGE CORP, A NEBRASKA CORPORATION (herein "Lender") and covering the Property described in the Security Instrument and located at 3619 SCHROEDER AVE GRAND ISLAND, NE 68803-6534 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 Title 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 Security Instrument, are hereby amended or negated to the extent necessary to conform such instruments to said Title or Regulations. LATE CHARGE: At Lender's option, Borrowerwill pay a "late charge" not exceeding four per centum (4%) oftheoverduepaymentwhenpaid morethanfifteen (15) daysaftertheduedate thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" shall notbe payableoutofthe proceeds ofanysale 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 60daysfrom the datethatthis loan would normally become eli~ibleforsuch guaranty committed u~aan bythe Department ofVeterans Affairs under the provisions of Title 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 ar 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 upon transfer of the property securing such loan to any transferee, unless the acceptability of the assumption of the loan is established pursuant to Section 371 ~ of Chapter 37, Title 38, United States Code. An authorized transfer ("assumption") of the property shall also be subjectto 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 property shall be payable at the time of transfer to the loan holder or its authorized agent, as trustee far 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 Iriitiala s ~~~~ ®1999, 200$ Online bacuments, Inc. Page 1 Of 2 P8751ASR 0805 12-11-2009 15:18