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<br /> �� � VA ASSUMPTION P�7LICY RIDER __
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<br /> INOTICE: THIS LOAN I� NOT ASSUMABL.E W17HOUT THE APPROVAI. �F
<br /> , TH� DEPARTMENT OF VET�RANS AFFAIRS OR ITS -
<br /> - � AUTH�RIZED AGENT. ,.
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<br /> THIS ASSUMPTION POLICY RIDER is mad6 ihiS 28th d8y Ot Jenuary , 1998 , and is InCOrporeted IntO
<br /> ' end shall be dsemed to amend and suppHment tiie Mortgaqe, Deed of Trusl,or Oeod to Secure Debt('Inswmenl") of the same date
<br /> � herewith,gNen by the undersfpned ("MOrtqaqor")to�eCUre the Mortqaya'8 Note ("Nole') of the same date to UNITED NEBRASKA �' __
<br /> BANK �'
<br /> ' , I Its successors and assqns('Mortgagee")and coverinp the property descr�bed h the Inatrument and boated at: -
<br /> , 2b39 W 4TH ST GRAND ISl..AND NEBRASKA 88803
<br /> � — Prop�rty AdOms
<br /> }
<br /> � Notwithstand(ng anythNg to the contrary set forth In the Instrument, Mortgepee and Mortgagor hereby aCknowledpe and 8pree to the
<br /> � following: �
<br /> GUARANTY: Should the Deperiment o�Veterans AHelrs f8il or refuse t0 issue its guaranty in tull emoum wNhin 60 days trom the date
<br /> �.r
<br /> Ihet this loan would norme�ly necome eligible for Such guaranly COrrunitted upon by the DepflAment of Veterans A88ks under the w:,,
<br /> =� provislons of Title 38 of the U.S. Code "Veterans Beneflts", the MoRqnpee may deciare the Indebtedness hereby secured at once due
<br /> �'• '�� and payable and may foreclose immedlately or may exercise an other r hts hereunder or take any otF�er propor action as by law
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<br /> ' provlded. �'_
<br /> � TRANSFHR OF THE PROPERTY: If nll or any part ot the propert� or any Interest In It Is sold a lransterred, th�s loan may be �'-:�—.
<br /> declered Immedlfltely due and payable upon transfer ("assumption") ot Ihe property seCUrhq suCh loan to any tnnsteree ("essumor"), __
<br /> �� unless the acceptabiUry of Ihe essumptlan and trdnsfer ot this loan Is establlehed by the Department of Veterens ANafrs or Its authorized =___
<br /> � - apent pursuant ro seccan 's7ib vt Ci�uNier 3%,��tG��,,Jr.ftsd�:atM �C08. _�
<br /> � An euthorized trensfer('assumption")ot the property Shell nlso be SubJecl to addlibnal Covenant�and agreernents as set forth below: _._
<br /> • ' (e) ASSUMPTION FUNDING FEE: A fee equa� to one•haM of i percent (.50`W) of the unpaW prncipal balence ol thls ban
<br /> as of tha date Of trBns�er ol the property shull be payable flt the time 0�tr8n6�er lo the mortpapee or Its au thalze0 aqent, as lrustee for
<br /> the Department of Vete�ans Aftalrs. If the nssumor falls to pey this (ee et the tlme of Iransler, the lee shall tonstflute an add'dlOnal debt
<br /> � - to that akeady secured by this fnstrument, sh�811 bear Mterest et the rete hereln provlded, and, at!he oF�bn ot Ihe mcrtpapss of th� -
<br /> � indebtedness hereby secured or any transferee thereof, shell be Immediately due and payable. This lee is eutomatbelly waHed �th�
<br /> �.. assumer Is exempt under the provtsions of 38 U.S.C.3729 (C). °-
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<br /> � (b) ASSUMPTION PROCESSING CHARGE: Upon applbatlon lor apprqvel to aliow assumptlan end Uansfer of thls laan,a _
<br /> 4� processing fee may be charged by the mortgagee ar its authori:ed apent for detertnlnhq the credftwarthiness ot the assumer and _ __
<br /> y subsequently revlsing the holder's ownerehlp records when an approved transfer Is completed. The amounl of Ihis Charge 6hall not �,
<br /> , exCeed the lesser at the maximum established by the Department Of Veterans A(t3ks for a Ioan to wh�h SeC tbn 3714 of Chapter 37,Tftle �
<br /> � 38,United Stetes Code applies or any maximum prescribad by applicable Stale law•
<br /> • �� (C) ASSUMPTION INOEMNITY LIABILI7Y: H this oblig8tian �s as�umod,then the assumar hereby agrees to assume all ot =.�—
<br /> � the oblgations ot the veteran under the terms of tho instruments creatirg and searing tha loan.The assumor turther aprees to Indem�Hy �� -
<br /> _. __.
<br /> ihe Depflrtment of Veterans ANaUS to the extent of any claim payme�t arising from ihe guaranty or insurenCa oi the Indebtedness created -
<br /> - by this i�sirument
<br /> ����.o__
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<br /> ' IN WITNESS WHEREOF,the grantor hfls hereunto set hls hand and seal on the dey and y88r flrst herelnbelo�e wr(tten. ;�;43�;._
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