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� � � .._. _' ' _ �g - =._. __.��_ ��..� ..�.e-. ':3��4ltcf.- . �.. . "_.._.. . . _a. .... '._' ---.�Yfa��`.:..',. _ _ — — - *�:` » __:s.::. -- _ _ . - . ' � _ _ _ � �. �� VVW� � � �_ �` � V.A. GUAt2A1�TEED LOAN AN1D ASSiJZ1+lPTtF�N P�LIC� RIDElt E`` .., . .�.w r •r AT ` - ' �I��;:THI5 I�4AN IS HO'� ASSUR�iAR��VQ'Y'f��i�i i ci�AFrn��L.,�� - • � S�'��0��AU'��I�AG�NT. � '��E DEp�RT1V�NT OT V�TIERAN TH1S V.A. GUARANTEEU LOAN A[�fU ASSI.'h1PTION POLiCY R:I:�R is made this 7TH �Y � uf FEBRI]ARY . 96 .and is incorparate�into and shnll be i➢:�cmed to amend and supplemenc �,: che�1ortgage,Deec1 of Trust or Deed toSecure Debt(hese+n"S�cun�:l jn;t�un�enc )daced of eveu�te herewith, �_. gi��en bp the undersi�ned(herein "Borrower")to secure Horro��s's Note to R (herein"Lender") � NORWEST HORTGAGE� INC -- and coverin�the Pcoperty described in cha Securit�+ Insirumca�t and ttuated at _ 1141 SOl1Tti GR�FNWICti GHAND ISLAPtA, NFi 68801 (l'ro�Y Adjrcu) V.A.GUARANTEED LOAN COVENANT:In:�ridi�3on to the covenants�nd agre�nenu�uade in tha Secucity � Iastrument, Borrower and Lender further co�ev�: and agree as follows: If the��debtedness secured hereby be guarantcr-ci Q: insured under Title?�,vnited Sta:es Code, such Title and Regulations issued thereunder and in etfect on the date hereof shall go�ern th�righes,c�uties and liabilities � of Borrower and Lender.Any provisions of the Security Instnuuent or other insuuments e�c.cuted in connecdon with said indebtedness which are inconsistent w��th said Title or Reen ac�.�s��u�dgindet+tatness and he che provision for payment of any s*am in conneetion with prepaym � provis,:an tts�t the Lender may accelerate payment of the secured indebic&�..;ss Pursuant to Covenacnt 17 of the Security Iruuument,are hereby amended or negated to the extent necessarY�o confrrrn sucd iastr�acoencs = to said Title or Re,�ulations. LATE CHARGE:At Lender's option,Banower will pay a"late chazge"not exca�dir.�z fo:u Pea'centum(4'�0) of the o�erdue payiuent whea paid more thau Fftoen(15)days after ihe ciue dat^th�-��t�s�ves►_hs extra _ expenst involved in handltng deGnquont payr,ce�zs, but such "late ch�u3.e' shall not be payable eL2 a`the pra,�eeds of any sale made 2o satisfy the inde�ca�.�ss sccured her�by,uaie�si sach proazds are suifi�st to disctt�cy�e the entire indebtedness and all proge:custs a�c3 etilxnses Se��rc�''. GUAYtANTY:Should the Departmeat of Vetes�s Affa:rs Fai.ur ref.:s;.4o i�ua its guaranty in full amount within 60 days froui ahe date that this loan wou1,�normally become ei9gi'hte tioc such guaranty comm.itted upon by the pepartmeat af Veterans Affairs undcr th�:grovisions of Title 38�f a}i�fl.S.Code"Veterans Bezcefits," �tit ti�ectgagee may declare the indebtedness l:ereby secwed at once dcce and Pa9able and may foroclose . L.��;=;��i�;,�.r�rcice any oiher riRhts hereunder or take any other proper action as by law provided. — TRANSFER OF THE PROPERTY:If all or any Vpart�o ut�A�f T��umption;)of tl�e pro rpertY sa n'�ng this loan maY�d�lared immaliately due aad�eaa. �uch loan to any transferce("assumer"),uu1e�r,he acceptability of the assumption ar�d transfer of thls loan is atablishtd by the Dcparcmeat of Vauans A�fairs or its authorIzed agent Pursuant to Section 3714 of Chupter 37,Title 38, United States Code. An authorized transfer("asswaPtian")of the property shall also be subjax to addiuonal covenants aad a�raments as set forth below: (a) A�S�tMPTIOLd_ •A faequal to one-half of 1 pecceat(.5090)of the unpaid principal balance of this loan as of the date of tsansfer of the property shtill be pa?:abk at the time of transfer to the mortgagee or its authorized a8eat,as trusta for the Dep�ent of vaerans Affairs.If the auumer fails to pay this fa at the time of transfer,the fee shall constitute an additional debt to that already secured by this inun�m�t,shall bear interesi at the rate herein Provided,and.at the option of the mortg�¢a of the indebtalnas haeby sxured or any transfaa thaoof,sHap be immediatdY due and payai�le•This fee is automati�lv waived if the assumu is exanPt undtr tht PLO'�Q�of 38 U.S.C. 3729(b). (b) ASS��`DTI N PR�'FCCtt�tc cHARGE•Upon application for approval4o allow auumption and [ransfa of tlus loan,a procasing fa maY be chuged by the mortgaga or its authorized a8ent for d;tS.*^'inin8 the�r�ditwarthiness of the assumer and subsequently revising the holder's ownership ruords when an approved transfer is completed.The aznount of this charge shall not exceed the tesser of the maximum atablished by the Departmwt of Veterans Affairs for a luan to which Section 3714 oF�hapter 37,Tide 38,United States Code applies or any maxia►nm Prescsibed by appl��le State law. - �� pcctlMPTiON INDF�,ilNITY LiABILITY:If t]sis aE�liSatZa�is assuIDOd• then the assumer hereby agrees to assume all of the obugarions of the veteran under clie teras of the instrumeau creatin8 and securing the laaa,including the obligation of the veteran to indemnify the De4sartment of Veteruls Affairs to the extent - of any claim{�Y��t�s'ng from the guarantY or insurwce of the mclebtedness created bY th�s►nsuum�°t• IN WITNESS WHEREOF,Borrowa(s)has acxutod this V.A.Guaranteed Loaa ann AssumPtion l�ulicY Rid�,. i� g BF -Borrowu Rt1NA S P'iI1ND0 -Borrov�er =3 "d -Barowa -Borrowa ' 9l92 .►' V.A.GUARANTEED LOAN AND ASSUMP710N POUCY RlDER ' �-�,a�� yyp ypq{�:�(FWWS• 1800t52t-729t _�; NMF43274 J93 �� I�� _;�