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<br /> APPL#� 301-61031031
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<br /> V.A.�iJAItAN'TEED LOAN ANID ASSUM�''i'ION PULICY RID�R � .
<br /> N�TI�E: THIS LOAN IS NOT ASSUMABL,� WITHOUT �
<br /> A��AI���R I'�I'� ALJ'I'�0�3������EI�T�T Q� VETERANS
<br /> � TH1S V,A.QUARANT'EflD LOAN ANA ASS(JIulPTION POLICY RIDER is made this 16TH day oF
<br /> �•�`""°'� DECSMBER , i996 ,end is inwrparAtccl into and shall be deemcd to amend and supplement the _
<br /> ` �� Mortgage, Deed af Trust or Decd to Secure 'Bebt(heacin "Securiry lnstrument") dated of even date h..rewith. •
<br /> givcn by the undersigrted(hcrcin"Iiorrowcr")to sccure�orrowcr's Notc to
<br /> HOME FBDERAL �AVIN03 & LOAN (hcrcin °I.endCr") ---
<br /> nnd covering the,Property descdbed in the Security Instrument nnd located at :```=
<br /> ,
<br /> 1604 NORTH ST PAUL ROAD ���`
<br /> (3R.ANU ISLAND, NEBRASI(A 68801 �'�,�,.
<br /> (Property Addrou) . - --
<br /> V.A. DUARANTEED LOAN COVBNAIV'T: In addldon to the covr,�ants end agreements made in 1he S�.ruiry �--
<br /> Inst�ument,Borrower and Lender funher covenant a��d agrce as foAows: a:
<br /> If the Indebtednws secured hereby be guaranteed or u�sured under Tide 38.United Srates Coda,such Title and � .;;;i::::
<br /> RegWadons issued thereunder and u► effect on tho date hcrcaf shail govem the righis, dudes and liabilides of =
<br /> Borrowu and L.ender.Any provisions of Ihe Security Insuument or other Instntments executed in conncctlon with �
<br /> said indrbtedness which are incansistent with seid 1'�Ile or Regulattons,including,but not limited w,the provision
<br /> ._:?; for payment of uny sum in wnnecuon with�repayment of the secum,cl indebtedness end tho provi.gion that the ;,
<br /> Lender may eccelerate payment of the secured mdebtedness pursuant to Covenant t7 of the Securiry I�str�ment,ere t�
<br /> ,,���.�,;' hereby emended or negated to the eatent necessary to conform such instr�ments to said Tide or Regultttions.
<br /> ,s�7� ' LATE CHARGE: At Lender's option,Borrower will puy a'`lace charge"not excecding four per centum(49b)of •
<br /> the ove�due payment when paid more than Cifu;en (15) days after the due date thereaf w wver the exira expense =2" �
<br /> ° • .�;� involved in handlIng delinqne�t payments,but such"late charge" shall not be payable out of the proceeds of any �'-
<br /> sale made w satissfy the indebtedness secured hereby, unless such pracreeds are sufficient w dischargo tne u►tire
<br /> ,i ;i�;� indebtedness end aII proper wsi�n«�i c;:���:.ur.,�l:�,�chy. -
<br /> :..�•� �
<br />- • �'".��`'' GUARAN'I'X:Should the Departrnent of Veterans Affaim fail or refuse w issue its gneranry in full amount within =
<br />__� � 60 days from the date Ihat this loann would nonnully became ellgtble for such guarant� committed upan by tne
<br /> • • o
<br /> _- ,, ,;,.:�Yy, Department of Veterans Affairs under the provistons of T'ide 38 of the U.S. Coda `Vetcrans �enefits;' the -
<br /> :.��•��,;,�.; Mortgagce may declare the indebtedness hereby secured ac once due and payable and may foreclose immediutely or
<br /> _ , •� � '� may exercIse any other rights herennder or tnke any other proper ecdon as by law provided.
<br /> ��''�i'.:;••�:
<br /> N�k;.�.(w��
<br />=�ti:,�,�,�a... TRANSFER OF'THB PROPERTY:If ell or any pa�t of the Property or any interest in it ia sold or aansfernd,thLg
<br /> loan may be doclared immedietely dae and payablc upon aansfer("assumpflon") of the property securing such
<br /> :a�-�:;�';�;'" - (oan ta any tcansferee ("assumer"), unless the ecxeptabiliry of �he assiunpbon and transfer of this loan is
<br /> T ��-.��: vstabl3shed by the Department of Vcterans Affairs or its authorized agent pursuant to Secrion 3714 of Chapter 37.
<br />-�'�;r:-;•=- ' Title 38.United Staces Code.
<br />�.�,.-...�-,•:�.
<br />_ °�;�;:_.���� An authorized transfer("assumpdon")of tho pmpe�ty shall also be subject to edditional covena�its end egreements —
<br />�,�..,�,7�r� as set forth below: --
<br /> �:�� _._
<br /> �--�. (a)ASSLJMP'ITON FUNDING FEE:A fee equal to one-half of 1 percent(.5096)of the unpaid balancc of @iis
<br /> loar� a9 of the dat�e of transfer of the properiy shall bc payable at the dm�of transfer w the mortgagec or it�
<br /> --.�--�:i e;� suthorized egent,as truseee for the Depa�tment of Veu�ans Affairs.If the assumer faiLs to pay this foe at 1he dme of
<br /> T`�==� urnnsfu,the fa shall censatute an addidonal debt w that elrcady secured by this instrument,shall bear interest at the �
<br /> _""�='�� rate here'ln provided, and,at the optinn of�he mongagee of the indebtedness heseby socured nr any transferee --
<br /> --�•:
<br /> "'�==' thereaf,shell be immediately due nnd payuble.This fee is�tomatically waived if the assumer is exempt under the _
<br /> ==� pmvisions of 38 U.S.C.3729(c). -
<br />�W�:`� --_-
<br /> ---����~--�--� (b) ASSUIu�'ITON PROCFSSING CHARGB: Upon apglication for approval to ullow assumption and `__
<br /> '-"'"' transfer of this loan,a pracessing fee may be charged by tha mortgagee or its authorizcd agcnt for detem►ining t�e --
<br />-�>;�'�",� creditworthiness of the assumer and subsequeandy rev�sing d�a holdat's ownership records when an approvcd =.:_.
<br /> -".�.''a�_.;;., transfei is comp3et,ed. 'ltie amount of this c'harge shall not exceed thc lesser of the meximum estublished by the F'°�
<br /> --;-�:rt:• :�., Department of Veterans Affairs for a loan to which Section 3714 of Chapter 37� Tide 38, United Staiss Code F��
<br /> ,.;.'``�;.�". . appl�cs or any meximum prescribed by appllcable State law. ` "
<br /> ` ;:t��:.... Y�---
<br /> ' �' ' • (c) ASSUNIP'ITON INDENiMITY LIABILIT'Y:If this obligadon is assiuned,then the assumer hereby agrees -
<br />- ' to assume all o��he obligatians of the vetcsan under the tenns of the insuuments cmating and securing the loar�� "_:.._
<br /> � � including tha abligatian of the vcu,�nn to indemnify the Department of Veterans Affairs to the extent of any claim : -
<br /> . �� payment ar[sing from thc guaranty or ins�rance of thc�.ndebtedness crcated by this insaumenG �''�"'
<br /> t,_,;
<br />-�- .• � IN WfINESS WI�REOF,IDorrower(s)has exocutaf this V.A.Guaranteed Loan ancIl Assumptian Policy Ridcr.
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<br /> MA� HI3W D NICIiOLS •Borrower R6$BCCA A NICHOLS •Borrower
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<br /> •Borrowcr -Dortowcr
<br /> V.A.6UANANTEEO LOAN AND ^
<br /> � ASSUYPTION POLICY RIDER t I
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