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<br /> APPL# 301-71126028 �� '
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<br /> . � VA G�JAId�►NT�iI I.OAPI AND��UA�IPTIOIei POLICY RIDEIt �, � -` ���
<br /> . : NO�ICE: T�II� LOA1�T IS �10�' A�SUMA�I.E �I�RO�T� � � �
<br /> � TI�E APPR�VAL OF 'TI-� DEP�Ti1J�ENT QF VE , . : �
<br /> ' '. � � . � �AIRS O1? ITS AU'I'HORIZED AGENT. � .�. �
<br /> . � THIS VA GUARANTEID LOAN AND ASSU1ViPTiON POLICY RIDER is made this �6TH day of �`, � .. � . '
<br /> ' " ---�- I J1�traltY 1998 ,and is�ooipoiated mto and shall be deemed to amend and svpplement the T;_ _ .
<br /> --- -?�--_�--� ' • lnsonune.ni„)dated of even date heieivitL. `-,-�-'� � -
<br /> . � , � Moitgage.Deed of Tretst or 11eed tn Secute Debt(hc�eau ` S�ritY � - .- �
<br /> _ { givea by the und�ed(heaein••Baaower")w secure Bonower's Note to .. ,
<br /> • � SOMS FSDSRAL SAVIPI(i8 & IAAN F .
<br /> - I (he�em ••LCIIder,•) .. .
<br /> . . ;: Emd covering We Pmperty desa�ed in the S�rity Insdument ffitd Iocated at -
<br /> „ . 304 WSST PINS - � . �•: .:
<br /> � . DONtPxAN. NSSRASRA 68832 • � •; _�-
<br /> ��• .. �.'Y(4 t -
<br /> . . (PNpeltjlAddlCf!) 'c^ -
<br /> - VA GUARADTIEED LOAN COVENANT: In addition to die covenants and agreeme,nts a�ade in the 5ecauity -,` '�; •t;1�_,.�_:
<br /> � Ins�neut,Boaowa and I.ender fazthet coveAant and agoee a4 follows: ,`.-;��:` ,-m---€
<br /> . If the indebDedness s�heaeby be gaaianteed ar msared under Titte 38,United States Code.snc6 Trtte and i ' ---,-
<br /> ,, Regulations issued theneanda and 'm effect on the date heaeof shall gav�n the rights.duties and 1iab�of . �
<br /> L ,^° Bomnwer aad Lender.Any provisic+ns of the Secnrity Instru�meut or othra msuume,nts e�cecuted in conneclion with • - .
<br /> said'mdehtEdness whicb are inconsisteat with said TiBe ar Reguiarions.inc�inS,but not limited to,the pmvisian . �•'�-'°;
<br />� y. for paymeut af auy sum in connection wiih piepaYmeut of the s�indehtedaest and the provision d�at the , ,• ��=
<br /> � ._� Leader may accelerate FaYment uf the sec�ned indebtedness putsoant to Covenant 17 of the Secunty Instnunent,ace ,"�_
<br /> - hereby amwaee or negated rn the exteat Qe�ary w conform such�ents rn saiW'titte or Regulations. . _ -�—
<br /> �
<br /> LATE CHARGE:At Lxader's aption,Bo�mwer w�71 pay a••late charge„not exceeding four per centum(4%)of . `�; .
<br /> ,�,_ �� .
<br /> ' the overdue payme�►t whea paid more t6an fifteea(1�days afmr the due date thereof to cover the ac�a eape�se � r :�..r,;:. :
<br /> iavolveal in handling delia9n�t Pal►mea�ts.but such"late cdarSe"shall not be payable out of the proceeds of any ��;'�=-�`
<br />_ _. - sale made to satisfY the iadebtednesg sectued hetebY.unless sach praceeds are sufficcent to dischar8e the eauue ''' �=--=�
<br /> - � • . mdebtedness and atl proper costs and expe,nses secured hereby. ` `�.-
<br /> ',
<br />, ',` `-�:;�.
<br /> � • GUARAN'PY:Should the Department of Vetetans Affaus fail or refuse to issue it4 gaaianry in f�ll amonnt within �_x.:=
<br /> , .. 60 days from ihe date thai t6is Ioan wonld aormally become eligible for sach guaianry committed aPoa by the ; .�:
<br /> - Deparnaent of Veteaans Affaans imder the provisions of Tide 38 of the US.Cade 'Weterans BemeSts." the __,
<br /> .s :
<br /> Mortgagee may declare the indebtedness he�eby seaued et once due and payable and may foreclose imw e d i a t e l Y or `.� ;,„�,.•,-
<br /> . • may exe�ise any+other nght4 haeunder or take any other paope�actinn a4 by law pmvided. .':.�-;;;,:
<br /> ; �'.,.; . ,
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<br />- � ' TRANSFIIi OF'fHE PROPIItTY•7his toaa may be declared immediateiy due and payabte upon tr�ssfa of thse . :;:�,��"`
<br /> • . �roprary secmmg such laan tn any uar�sferee,�mless the acceptah�ity of the assumpnon of the toan is established �: ::�,; . . ..
<br /> , . . ... _ pursnant w Sc�don 3714 of ChaptEr 37.Tifle 38,United Smies Code. , :::��'-:_
<br /> . . , ....���
<br />' . An suthorized traasfer('�as4nmPtion")of the propeaty sNall also be subject w addidonal wvenants and agree�ents . �"._��_
<br /> as set forth 6elow: ,::.''
<br /> • �i.Ff:'1 .
<br /> � ��� (a)ASSUNIP'ITON FIJNDING FEE:A fee eqaal to on�balf of 1 peacent(SO%)of the balance of this toan as ��: � "
<br /> � . � � of the date of aansfea of the progsrty shall be payable at the rime of uansfea to the loaa holder ar its suthosized ��=_
<br /> �. , agcmt,ac avstee for the Depatmient o f Veterans A f f a i r s.I f t he a s s u m e r f a i l s t o pa y this fee ai the time of uansfea, .�*�
<br /> • � � � the fee shatl cons�tE an addidonal debt to tLat alreadY secure8 by this instrument,shall bear inieaest at the rate � .' .�.�.
<br /> � .. herein provided,and,at the opdon of the�ayee of the indebtednes.s hareby secured or any uansferee thereof,shall , .: .,�= .,_-,
<br /> •� be 9mmediately due and payable.This fee�v sutomaticaUy waived if the assumer is exempt under the provisions of . • ..
<br /> '.. 38 U.S.C.3729(c). , . - `.'
<br /> • • (b) ASSUNIP'ITON PROCESSING CHARGE: Upon application for approval to altow assumption of this .' � � --
<br /> - 1oan, a processing fee may be ged by the loan holder or its suthorized agent for deicrmining the � . �
<br /> creditwonhuiess of the assvmer and subsequeady revising the holdea's ownership records when an approved , .
<br /> .. . . ' transfer is comp2eteA.'Ihe amaunt of this charge shaU not eaceed the maximam establ�shed by the Depamnent of , . ..
<br /> • • `r Vcter�,s Affairs for a toan co whicb Secaon 3714 of Chapcer 37,Title 38,United Smses Code apDlies. . . •
<br /> (c)ASSIJMPITON IIVDEAMi1TY LIABILITY:If this obligation is assiuned,then the assumer heaeby agrees , •
<br /> ' w assume all of the obligations of the veteran under the terms of the insuuments creating and sec�ing ihe 1oan.The •• '
<br /> . assumer further agrees w indemnify thc Depanment of Vete�ans Affairs w the extent of any claim payment arising . .
<br /> � �; . from the guffianty or insurance of the indebtedness created by this instrumen�. '
<br /> �� IN WITNESS W�REOF,Bormwer(s)has executed this VA Guaranteed Loan and Assumption Policy Rider.
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<br /> TOD L BRANDT •Hortower THERESA C BRANDT •Borrowar
<br /> � ; •Bortoacr •Borrowe*
<br /> ' VA GUAHANtEED LOAN AND � � .
<br /> � . . . ASSU6APT(ON POLICY HIDER
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