|
•�����fr���a�.�;i. •�Jr�au a�u •;,.���.,..... ;� .i �rr a,��,�{.:. `.:. . ...... : .,,`.;. -a-- ° �- - _ � z
<br /> �ti;. ,.+� =t►,
<br /> - v���iv' _rw.�fRM4+rw.'.�1riM .i.� ,.�.....rc.r���
<br /> ��� ,� - �
<br /> ' �-�s�-«..
<br /> . � . , � ... .1e,.u..e..+-- ._
<br /> . ' . .. .'�.�7��'�'f-`yC� . .. .'. . _
<br /> � -J•.
<br /> � . � ' _,-..__
<br /> � W1�ir��� ., � _� 1L3_:. ..�.._�T,.�'''n:q±':^._7._... -
<br /> � �_1Y::L4','._._-.
<br /> " � . ' 92 ���;�: ----
<br /> '�'� � /r , lo � • . • ' � ��2341 �.��l.?`_� -"`";.'";r`-=
<br /> : � �.:..��• ...-,NS�_ -
<br /> ' "` . �;�i•'-`-...o,.�....�.
<br /> � ° � � ��� `� V A ASSUMP�ION POLICY ItIDER -_------_�
<br /> .. �..�+ ��M;=:=
<br /> �, . � _.,.��_=Q----
<br /> ��,• � J.. :'�' �. . ' , �.��0_.l_i�G:.��l���
<br /> . �v_x�n.�.�....._._-'
<br /> � � � NOTICE:THIS LOAN IS NOT ASSUMABLE WITHO�JT THE APPROVAL OF �-�°�°�- �
<br /> �"'� � EPARTMENT OF VETERANS AFFAIRS OR ITS AUTHORIZED AGENT. ���
<br /> �n � �- . ° . � THE D ,:.�.;�:�Y�
<br /> l:.��;t�.i�t !-`v-i--��-Y.-.i.u..
<br /> p ' .. . 'Fi-�IJ.u�Y.1.T.�-
<br /> ' . � � 1� . f�. .
<br /> r, , � � 92 .� �' ".
<br /> 18TH day of MARCN �g .:,"•:":;.
<br /> THIS ASSUMPTION POLICY RIDER is made this '' `,�'":�'' ""'"
<br /> ' ' -�> •.'::;"-''~r�"`'�
<br /> and is incorporated into and shall be deemed ta amend and supplement the Mortgage,Dced of Trust,or Deed to Securc . . .. : .
<br /> Uebt("Instrumeot")of the samc date herewith,given by the undersigned("Mongegor")ta secure the Mortgagor's
<br /> . ' M .
<br /> Note("Note")oP the same clate to �
<br /> � Overland Nationa 1 Bank �;*��M-'�•"��'�'
<br /> ��a:�,..:ar�.�.
<br /> ., -{---T,,'�',-.�::
<br /> ��,r►�'�'.:
<br /> . ilS SUCI'fSSOfS apd ASSI�t15 .:;•-a r,-_-.
<br /> .. . o .. �;�'47.r�r
<br /> ' ��, ,' �••M1619gNorthdCl�ster�A�veriye Grand Is1and.hNEn68803 t and la-ated ar. ',
<br /> . ` ' ..Fi..:,I` `
<br /> '.' !.}t.,: ,_: ; ,r. • , J��
<br />. ;;�j1''� '�'.`'ll;±�` . ' _— _
<br /> �. ��y�.in:7�• - � -
<br /> .-.' ,,i:�•,' . • IProperty Addrec+l '��. -
<br /> ."�r,ri':r�4.� . • �::�K�
<br /> .�,::i, • Notwithstanding anything tothc contrary set forth in the Insirument,Mongagee and Mortgagor hereby acknowledges .,,..,:..,;
<br /> ` _ • • . and agrees to the fulluwing: �.•..����_�
<br /> • ' GUARANTY: Should the Department of Veterans Afiairs fail or refuse to issue its guaranty in full amount within � ' �. �
<br /> � . 60 days from the date that this loan would oormally become eligible for such guaranty committed upon by the Department �'
<br /> ''`` � of Veterans Affairs under the provisions of Titic 38 of the U.S.Code"Veterans Benefits",the Mortgagee may declare ..
<br /> __;,;_"• . the indebtedness hereby secured at once due and payable and may foreclose immediately or may exercise any other �� . y •� `
<br /> - -- -Y'-. rights hereunder �r Iake any ochcr prupc� a�:iion as by!au proeided. � ----���
<br /> �-•— -::
<br /> ` TRANSF�R OF THE PROPERTY: If all or any par[of the Property ar any interest in it is sold or transferred,this ' ° a��
<br /> . � loao shaU be immc�iately due und puyablc upon transfer("assumption")of the property securing such laan to Any � ,�"��•��
<br /> ' �� t r a n s f e r e e ("A S S U mer"), unless the acce ptability of the assumption and transfer of this loan is established by the �
<br /> ���'� �` Department of Veterans Affairs or its authorixed agenl pu�suant to section 1817A of Chapter 37. TiQc 3 8, Unite d
<br /> ,`'�� � States Codc. � �M�
<br /> An suthorized trensfer 1•'assumption"1 of the property shall ulso be subject to additional covenants and agreements � • ,;�� �
<br /> as set forth bclow: ;� � ` :
<br /> .��:`�: (a) ASSUMPTION FUNpING FEE: A fecequul to onc-hulf of I perccnt(.50%)oP the unpaid principal balAnce � -;f;�_.''
<br /> • ' • of this loan as of thc datc oP trunsfer of thc property shall be pnyablc n� the timc of transfer to the mortgagee or �, �;,;.:;.
<br /> • ��'� ' its authorized agenl,as trustee for thc Secretary of Veterans Affairs. 1 f the assumer fails to pay this fee at the time -':�;::�
<br /> �", of transfer, the fec shall constitwe an additional drbt to thnt already secured by this instrument,shall bear interest � �`•+•i�:=:.T
<br /> �' � at the rate herein provided,and,at the option of Ihe mortgagce of�hc indebtedness hcroby secured or any transferee ` � y
<br /> � • thereof, shall be immedintcly Jue and paynblr."i'his fce is automatirully waived if thc assumcr is exempt under the �; s�,,
<br /> provisionx of 38 U.S.C. 1829 (b). � , `�
<br /> ,. .�'���„�' �
<br /> (b) �SSUMPTION PROCESSING CH,ARCF__:lJpon application for appro�al toallow ussumption and tran+fcr �
<br /> ° of this loan,u processing fce muy bc churgcd by thc mortgagce or i�s au�horiied agent for dctcrmininF the credit�vorthiness � --�'_��`-'
<br /> of the nssumcr and subseyuentl��rcvising thc holder's owncrship records���hrn un upproved transfer is complMCd.Thc
<br /> umount oP�his charge shall not cxcccd thr ma�imum establi,hcd by ihc pcpartmcn�of Vctcrans Affairs t'or a loan ( .,u,,y��T
<br /> to which scction 1817A of Chupter 37, TiUe 3R, Unitcd 5ta�rs C'odc applic�. l` .''
<br /> (c) ASSUMPTI(7N INDEMNITY LIABILITY_ If thi+obligatiun is u+sum�d,thcn chr assumrn c�rrby agrres to � � .
<br /> " ��; :, assumc All of the obligations of Ihc vctcran undcr thc trrmti of thc insirumcntti crcaling and ticcuring thc loun,including
<br /> the obligation of the �•eteran to indrmnil'y�hc I)ep�►�tmrnt ol'Vrtcran>.41'fair+to thc rxten�vf any cls�fm puyment
<br /> arising from thc euaranty or insurancr ol'�hr indcbtednes+rreatcd by thiti in,�rumcm. ; , •,
<br /> f� N IT1vESS ��HEREOI•, �tortgagorh) hu.cxc�uncd ;hi.A„wnpiiun Poli�y Ridrr.
<br /> �—�-- - - lSeab �/CLlC''?'! �, �� ---------. lScall . ' . ' �
<br /> 'err� � �lurlgauor Shar�ro N. Fady � Atongagor .
<br /> � y y
<br /> ISral► -- --. .------ IScal)
<br /> ----------- - --- - \lort@a@or Morlgagor �
<br /> � •528.�.... ��� „„���,.n�.� �„ . ..���. �� ,. . �,�, , . +
<br /> I
<br /> I
<br /> �
<br /> I }
<br /> . �i '� — - _ - _
<br />
|