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<br /> VA GUARANTEED LOAN AND A5SUMPTION �'OI.IC1' RIDER . . ,;µ'��
<br /> i LoAN NO.10-1228 , . ;�;:;���� =
<br /> NOTICE: THIS LO,AN IS NOT ASSUMABLE W�THOUT � ' � x�t -
<br /> THE APPROVAL OF 1'HE DEPARTII�ENT OF VETE��NS i���R.����K, '_ � ;'J
<br /> AFFAIRS OR ITS AUTHORIZED AGENT. :, �. ..�:;
<br /> ,,,,b,,,,:.. . � �;�• ,.{�.�.b ,�.
<br /> "' �"� ' THIS VA GUARANTEED LOAN AND ASSUMPTlON POL.ICY RIDER is madc chis 26th day of .`�.-�_�=,i�-- _
<br /> 1 January , 1998 ,and is incorporated lnto and shall be decmcd to amcnd and supplemcnt thc �� lr:r,ae�v-�
<br /> Mortgage, Deed of Trust or Deed to Secure Debt (herein "Securiry instrument") dated of even date herewith, .-��:�°v•----
<br /> � . :u.- -
<br /> � � �iven by the undersigned(herein"Bonower")ro sccure Borrower's Notc to _: • -�°'—
<br /> � Ma3or Mortgage, A Wyoming Corporation (herein'I.ender'> �
<br /> �
<br /> � �.�;_
<br /> and covering the Pruperty described in the Securiry Instrument and located at �r�--
<br /> �.�`_�.
<br /> . .`_��
<br /> �' � 111 East 20th Street,Grand Island,NE 68801 =-_
<br /> r' i (Property Address) �;`:'—--
<br /> � ,� �-�_—
<br /> VA GUARANTEEA LOAN COVENAN'I': In addition to the covenants and agreements made in the Secur[ry �,_
<br /> lnstrument,aorrower and L.cnder further covenant and agree as follows: �.�.--.=:�
<br /> If the indebtedness secured hereby be guaranteed or insured under Title 38. United States Code, such Title and �_ -
<br /> ��. Regulations issued thereunder and in cffect on the date hereof shall govern the rights,duties and liabilities of
<br /> Borrower and Lender. Any provisions of the Secuiiry Instrument or other instrumen!�°x:�«�ln connection with ��
<br /> ; . said indebtedness which are inconsistent with said Title or Regulations. including. but not limited to. the _
<br /> � provision for payment of any sum in connection with prepaymen[of the secured indebtedness and the provision �m—
<br /> that the Lender mny accelerate payment of the secured indebtedness pursuant to Covenant 17 of the Security ��
<br /> Instrument, are hereby amended or negated to the extent necessary to conform such instruments to said Title or __
<br /> '��� � Regulations. "�_
<br /> - - ' -� LATE C:HARiaE: A�ixuscr's opt�an.Borro�er'.'I11 Fay a"1?�e churee"not exceeding four per centum(470)of
<br /> ._� . the overdue payment when paid more than fifteen{IS)days after the duc date thereof to cover the extra expensc .
<br /> ;, involved in handling delinquent payments,but such "late charge" shall not be payable out of the proceeds of any _ :�
<br /> A, sale made to satisfy the indebtedness secured hereby, unless such proceeds aze sufficient to discharge the entire n;
<br /> iadebtedness and all proper costs und expenses secured hereby.
<br /> � GUARANTY: Should the Department of Veterans Affairs fail or refuse to issue its guaranry in full amow�t withln -,--
<br /> 60 days from the date that this loan would normully become eligible for such guaranty commltced upon by die
<br /> Department of Veterans Affairs under the provisions of Title 38 of the U.S. Code 'Veterans Benefits," the �.
<br /> Morcgagee may declare the indebtedness hereby secured at once due and payable and may foreclose immedtately r.`
<br /> or may exercise any other rights hereunder or take any other proper action as by law prov{ded. _ _
<br /> r TRANSFER OF THE PROPERTY:This loan may be declared immediately due and payable upon transfer of the
<br /> property securing such loan co any transferee, unless the acceptability of the assumption of the loan is established
<br /> � �, pursuant to Section 3714 of Chapter 37,Title 38,United States Code.
<br /> An authortzed transfer("assumption")of the property shall also be subject to additional covenants and agrPr.ments
<br /> # as set for�h below:
<br /> (a}�SSUMP'CION FUNUING FEE: A fee equal to one-half of 1 percent(.50%)of the�,alance of this loan
<br /> �, as of the date of transfer of the propeny shall be payable at the time of transfer to the loan holder or its authorized
<br /> agent,as trustec for the Department of Veterans Affairs. If the assumer fails to pay this fee at the time of cransfer.
<br /> �, the fee shall cnnstttute an additional debt to that already secured by this instrument,shall bear interest at the rate
<br /> ,� herein provided,and,at the option of tlie payee of the indebtedness hereby secured or any transferee chereof,shall
<br /> .� � • VA QUARANTEBD LOAN AND ASSUMPTION POUCY RIDER — ----
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