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<br /> �"-� � VA ASSUIV�PTION POLICY RII3►ER
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<br /> �'.� :�� �� `=�=�����` NOTICE:THIS LOAN IS NUT ASSUMABLE WITHOUT THE APPROVAL OF _ ___ _� _
<br /> a--:�� . :� ,:�,.��� � T'�DEPARTMENT OF VETERANS AFFAIRS OR 1TS AUTNORIZED AGENT.
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<br /> `'��:;;';;`a.s�;::;{ , THIS AS3UMPTION POUCY RIDER is made thia 2ND day oP MAY � 19 92 ,
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<br /> �`;�''!�'�'�' ��.",�(�.'��� , end is incorporated into and:hull bc damecl to smcnd and supplcmenl thc Martgaqe,Deed of Trust,or Deed ta Secure
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<br />,,_ ,.,,,.,; �.`, Debt("Inst�ument")of thc aaroc data herawith.�iven by Ihc underripncd ("Mort�aaor")ta secure the Mortgaaor's ____
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<br /> � ��'�`'s ��`'��'.�`� overland National Bank �`
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<br /> ••�• its cuccessor�and assi�ns
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<br />�.? w ��._•��, ._�,;r,��5;� ("Mortgagee")and covering the property described in the Inrtrumcnl and located at: �
<br /> , �. � .,�.� 1039 8. Vine st. cirand IAland� NE 68801 �
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<br /> ' ' Notwithstanding anything to the contrary set forth in the Inst�ument.Mortaaaee and MonKa�or hereby acknowledges ____—._
<br /> �" • and agrees to thc followinQ: ��`''�`��
<br /> �t�"' � (3UARANTY:Should the Department of Veterans Affuirs fuil or refuse ta isauc its guaranty in Full amount within ��-��="=:
<br /> °�'"" � � fi0 days from the datc that thfa loan would normally become eligible for such guaramy commined upon by the Department ��y;��-.-.
<br /> , e � ,� , of Vecerans Affairs under the provisions oP Title 38 of the U.S.Cade"Vetcruns Henciita",the Mortgagee may declare -----
<br /> � the indebtedness hereby secured at once due and payable and may foreclo�e immediwtely or may exercise any other �s.=__
<br /> ' •''k� ' � righ�s hereunder or�ake unY other proper action as by lew provfded. _-_-__-
<br /> � ' TRANSFER OF THE PROPERTY: li'ull or any part of the Property or uny imcres�in il i.r sold or transPerred,this �.,���y��.yry
<br /> i ' ban shall be immediately due and payable upan transfcr("usrump�ian") uf�he prc�perty sccuring such loan to any �.r�_,.►.. ,,T^5_
<br /> � � � � transferce("assumer"), unless �he acceptubility of the ncsump�bn Qnd trunsfcr uf�his luun is established by the ' ; .__.
<br /> ' Department of Veterans Aifairs or its authorized aQent pursuam to section 1817A al'Chapter 37, Tidc 38, United ���''�
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<br /> ' ' States Code. --
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<br /> , ,��,;.x,,,,, ,� An authorized transfer("assumption"f of the property shall olso be subjec��o uddi�ianul cuvenants unJ agreemants =---
<br /> ' as set forth below: —..�-
<br /> �•� �a) gSSUtitPT10N FUNUING rF��A Pee equal to ane-hulf�►1'I �xrccnl(.SO"/�1 uf�hc unpaid principal balance ���" � '�'=
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<br /> � of this loan as of the dnte of trnn�fer oP thc properry shull be payublc ut ihc �Imc ut'transi'cr to the mortgagee or
<br /> „�', .�:� ita authorized agent,us trustce Por the Secretary of Vctcruns Affuir�. If�hc uy.rumrr fuii►�u pay thig fcc ut the time , �;__-
<br /> • of transfer, the fee shuU ronstitute an Additiunc�l drbt tu thul alrcady +ceurcd By thls ins��umcnt,+hull bear interest �-�='����'�`
<br /> at the rate herein provided,And,at the option uf'thr mortguger of the iixlcb�rdnr�ti hcreby ,ecured��r ony transferee �=3�,�_
<br /> .. . thereof, shall be immediately due und puyeble. This fee is automaUcnlly wuived il'�he asxumrr ix exempt under the �,�:�»w_
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<br /> ' provisions of 38 U.S.C. !R29(b). --. w�M-
<br /> (b) ASSUMPTION PROCF.S�IN�i CH/�tCi ';Upan uppli�utiuu for up��iu�ul�o ullow ussumptian und transfer �":4���' ,_
<br /> e ,. of this loan,a processing fee may be churged My the mortgagee or iu uuthuriced agent fur dct�vmining the creJitworthiness �.y'
<br /> of the assumer and subsequen�ly revising the holder',uwnrrship rerurd.whcn u�i uppru�eJ trunsi'rr f+completed.The
<br /> t • � arnount of this churg� �hull not cxceed thc maximum e,��hlitihrd hy thc Ucpurun��m u1 Veterung AI'fuirs for n loan '`. �---
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<br /> � _ - to which sertion i817A of Chaptcr 37, Tide 38, UnitcJ Stut�w Cude uprlk,. �,a�.•;�*Y�� ..
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<br /> (c) ASSUMPTION INDEMNITY LIAH.ILITY; If thiti obligation i�uti�omcJ,�lirn Ihr u�+umrn c�rcby agrccx to . �`� -
<br /> '� ,". assumc all of'thc abligutions of thc vctcrun undcr tiic trrmx af�hc intitrumc�iu rrra�inµund,�rw i�i��No luun,including ��,,;; ;,3•,�.:..�..
<br /> the obli ation of the veteran ta indcmnif �hc Uc urUncnt uf Veirran+A(luin lu Ih�erlent �►1'ao rluim uyment �••�� ' �� ''
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<br /> v. _ . � � arising from thc suarunly or insurancr of thc indcbtcdnc+.rrc:ncd hy ihi�iu.uwurw. ' • '
<br /> �� lN WITNESS WHEREOF', Mortgugor(s►hu� cxccutcd thi+ Ati.ump�iu��l'nlicy Iti�lrr. '
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