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<br /> � I APPL# 3 01-7111201 9 ��"�W
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<br /> - VA GUARANT�ED LOAN AND ASSUMPTION POLICY RIDER .
<br /> " NOTICE: THIS L�AN IS N�T ASSUMABLE WITHOUT ., � ������
<br /> THE APPROVAL �F THE DEPARTMENT OF VETERANS "�'��
<br /> AFFAIRS OR ITS AUTHORIZED AGENT. . _�=
<br /> :�;:.�
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<br /> THIS VA CIUARANTEED LOAN AND ASSUMP7'ION POLICY RIDER is madc this 31s'r day of
<br /> ,, DECEMBER 19 97 ,and is incorporatetl into and shall bc decmed to amend and supplcmcnt ihc
<br /> , Mortgage, Dced of Trust or Dced to Secure Debt (herein "Scciuity Instrumcnt") dated of cvcn datc hcrewith,
<br /> givcn by the undersigncd(herein"Borrowcr")to sccure Borrowcr's Notc to
<br /> HOME FEDERAL SAVINCiS & LOAN
<br /> �
<br /> (hcrein "Lcndcr") �� _
<br /> �. -
<br /> and covering tl�e Property described in the Security Instrument and locatcd at
<br /> 914 S CHERRY ST � r-
<br /> f3RAND I3LAND, NESFtASKA 68801
<br /> (Property Addretq =�.-
<br /> ',�_
<br /> VA GUARANTEED LOAN COVENANT: In addidon to thc covenants and agreements made in thc Security =
<br /> Inslrument,Bonowcr and Lender funher covenant and agree as follows:
<br /> If�he indebtedness secured hereby be guarantced or insured under TiUc 38,United States Codc, sucn Tide and _. __
<br /> I Rcguladons issued thereundcr and in effect on the date hareof shall govern thc rights, duties and liabilitics of
<br /> . , Borrower and Lender.Any provisions of the Security Instrument or other instruments executed in connecdon with
<br /> � said indebtedness which are inconsistent with said Tide or Reguladons,including,but not limited to,the provision
<br /> for payment of any sum in connecdon with�repayment of the secured indebtedness and the�rovision that the
<br /> '�` L.ender may accelerate payment of the secured�ndebtedness pursuant to Covenant 17 of the Secunty Instrument,are
<br /> hcreby umcnded or negatcd to thc extcnt neccssary to conform such instruments to said Tidc or I3cguladons.
<br /> `�, LATE CHARGE: At Lender's opuon,Bonrower will pay a"late charge"not exceeding four per centum(4°lc)of
<br /> •b' the overdue payment when paid more than fiftcen(15) days after the due date thereof to cover the extra expensc
<br /> . involved in handling delinquent payments,but such "late chargc" shall not be payahle out of the proceeds of ony
<br /> '; sale made to sabsfy the indebtedness sccured hereby,unless such proceeds are sufficient to discharge the entire
<br /> indebtedness and all proper cosrs and expcnses secured hereby.
<br /> -- GUARANTY:Should the Department of Veterans Affairs fail or refuse to issue its guaranty in full amount within
<br /> GO days from the datc that this loan would normally become eligible for such guaranty wmmitted upon by the
<br /> Departrnent of Vetcrans Affairs under the provisions of Titic 38 of the U.S. Code "Veterans BeneCts," the _�
<br /> MortqaRee may declere the indebt,edness hereby secured at once due and payable and may foreclose immediately or
<br /> may exercise any other rights hcreunder or take any otl�er proper acdon as by law provided. _ ` --—
<br /> g,_
<br /> TRANSFER OF THE PROPERTY:This loan may be declared immediately due and payab(e upon transfcr of the ��
<br /> property securing such loan to any transferee,unless the acceptability of ihe assumption of the loan is established �T�-
<br /> � pursuant to Sec6on 3714 of Chapter 37,Tide 38,United States Codc. �
<br /> An authorized transfer("essumpdon")of the property shall also be subject to additional covenants and agreements —�
<br /> as set forth below: —
<br /> (a)ASSUN�TtON FUNDWG FEE:A fec equal to onc-balf of 1 percent(.50%n)of ihc balance of this loan as �
<br /> oF the datc of transfcr of the property shall bc payable at the timc of transfer to the loan holder or its authori�.ed `.`�`
<br /> agcnt,as trustec for thc Dcpartmcnt of Vctcrans Affairs. If thc assumcr fails to pay this fcc at thc timc of�ransfcr, �=�=----_
<br /> the fee shall constitutc an addi6onal debt to that already secured by Ihis instrument,shall bear interest at the rate '�'�"===-
<br /> hercin provided,and,at thc opdon of thc payee of the indebtcdncss hereby securcd or any transferee thercof,shall �����
<br /> be immcdiately due and payable.This fec is automaucnlly waived if thc assumer is cxcmpt under dic provisions of -_-_-
<br /> 38 U.S.(:.3729(c). ._�:�-==-_
<br /> (b) ASSUMPTION PROCESSING CHARGE: Upon appGcation for approval to allow assumplion of this � - °-
<br /> loan, a process�ng fce may be chargcd by thc loan holder or its author'szed agent for detcrmininb lhe - = __ -�.s
<br /> creditworthiness of the assumer and subsequendy revising the holder's ownership records when an approved . ,—_—
<br /> transfer is completcd.'The amount of this churge shall not exceed the maximum established by the Deparunent uf , .�`u�`�,
<br /> Vctcrans Affairs for a loan tc�which Seclion 3714 of Chaptcr 37,Tidc 38,Uniud States Code applics. ;•:•, .
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<br /> (c)ASSUMPTIO�I INDENIIVITY LIABILITY: If this obligadon is assumeci,then the assumer hereby agrces ' � �
<br /> I to assume all of the obligations of thc veteran under the terms of the instruments creatin�and securin�the loan.The ' �
<br /> i assumer further agrces to indemnify the Dc:paruncnt of Vctcrans Affairs to the extent of any claim paymcnt arising '
<br /> � from thc guazanty or insurancc of th�indebtcdness created by this instrument. .
<br /> � IN WITNESS WHEREOF,Borrower(s)has cxecuted this VA Guarantced Loan and Assumption Policy Rider. �.
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<br /> JLIDDS �/ �Borrowcr KRISTINE L JUDDS •Dorrowcr
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<br /> •Ilorrowcr -flurro�vcr �
<br /> VAGUARANTEED LOAN ND
<br /> ASSUMPTION POLICY RIDER I
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