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<br /> i • APFLu 342-70?06QA5 ,--,���
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<br /> � V.A.GUARAN'CEED I.OAlo1 AND ASSUMPTION P��L�I�ITI�OUT �
<br /> NOTICE: THIS LOAN IS I�10T �SSiJMA „
<br /> '�'�I� APPROVAL OF 'T�iE �EPA�T��NTT �� VBTERAIo1S
<br /> y��p��b� O� I'�'S AUTHO�IZED ,
<br /> THIS V.A.(3UARAN'I�3ED LC�AN AN�ASSUIU�'I'ION POL.ICY RIDHR is mnde tt►is 7TH day of � •- '
<br /> � FEBRUARY , 1997 ,an�is incarpoTated�n�°and 9ha11 be deemed to amend and supplement the
<br /> Mortgage� Deed of Tcust or Deed co Sccure Debt(hcrein "Securicy Instrument")daned of even datc hercwith,
<br /> givcn by the undersigned(hcreln"Borrower")to secere Borrower's Note to
<br /> HOtdT' FEDERAL SAViNaS & LOAN (herein "L.ender")
<br /> described in the Sccurity Insm►ment and tocated at . �°'��'�'.`
<br /> , and covcrinB thc Propercy '�``��"°"°�f
<br /> ' W 15TH ST ��"
<br /> �u� 7�a � ::.��
<br /> axarm isr�rm, rr�s�►szcA 6eaoi ' •-��::.�.�.
<br /> (ProPenY Addrcu) .:.���'�:.:�':`•�•
<br /> ze�;-__
<br /> V.A.GUARAN'I'B$D LOAN COVENAIV'f: In sddidon to the covenants and agrcements made in the Scxuriry .j�:-
<br /> YnsUut��ent,I3atrowcr�nd Lendea furthe�cavenant and agrce as follows: �:{,.� _
<br /> agrc
<br /> If the Indebtedness s��red hereby be b�ua�ant�d QI insured under Title 38,UniuA�ta�s Coda,such Tide on , _
<br /> Reguladons issued ihereunder and in effect on the date he�eof shall govem the dghts, dudes and Ilabtltdes of ,; , _
<br /> rovisions of the Securi lnstrument or other insuuments executed in connecdon with �,:.,:�;'._
<br /> � Borrowc�and I.ender.Any p �}' �, ,,,..--.
<br /> „ � said indebtedness which are inconsistent wtth said Tid em of et�}eRS�ured ci�r�dbgtedncss end p ovision th ts the �;�;,;��F,;:;�.Q:-
<br /> . i. €or paYmsnt of eny sum in connxdon with�rePaYm ,,';';`�:.�._^—�-:;
<br /> Lender may eccelerate payment of the secured u►debt,edness Purs°a�►��Covenant 17 of the Sa:unty Insbrument,ara
<br /> ',., { ..
<br /> hereby amended or negated W the exeent necessary to conform such instruments to said TiQe or Regula�ions. �• f.���.
<br /> � four per centwn(4g6)of '�""'�'�°"��
<br /> a"late char e"nat eaceedgng ° r•' G
<br /> g,p���t(}B:At Lcnder's opdon,Borrower wi11 PaY B '
<br /> tlu overdue payR►ent when paid more than fif'tcen (15)daye afte�t1�e due dete thereof to cover ihe eatm expense ,
<br /> �. involved in hancllinB delinquent payments,but such "late charge" shall not be payable out of die proceeds of nny ; �,-
<br /> sa1Q m�de to sasisfy the indebtedness sQCUred herehY.unless such proceeds are sufficient to dischazge the endre t
<br /> _ - ��:�lnp,�„a A��t nll nroner costs Ar►d expenses secured hereby. _ _ .
<br /> {r Should the Department of Vete:ai►s Affairs fa�1 ar refuse to issue its gaacenty i�fu11 amount within ,� �-
<br /> � QUARANI'Y:
<br /> 60 days from the date that�his loan would nocmally become eUgible for such guarant� commiued npon bY tho �..;
<br /> �' Depattment of Voterens Affairs under the provisions of Tide 38 of the U.S. Codo '�eterans Benefits;' t�e
<br /> Mortgegee maY declare t�e indebtedness here9y sec�red at ance due and payable and may foreclose immediately or
<br /> �� �ney exercLSe any other rlghts hereander or t�ice eny other pmPer a�aon as by lAw provided.
<br /> - „ or any intemat in it is sold or transfened,thia
<br /> 'IRANSFEIt OF'f�iB PROPHRTY:If ell or any partu�n��m;`�sumpdon")of the property sectuin8 such
<br /> � loar► may be declared imn►ediately dne end payab
<br /> = loan to any uansferee C`�of V'�eterans Affairs o�pauthotyiyzed agen piusupentto Scctibon 3714 of Chapter�37,
<br /> cstabllshed by thc Depnrtm
<br /> " 'Iytle 38.Unitod States Code. •' �!-_
<br /> - ,� shall aLso be subject w addidonal covennnts end agreements �""�°-�'��-
<br />- .. •�'��.x�.`' M authorized transfer( assumprion )of the propeitY
<br />�r'��*..,., as set forth below:
<br />�• .�•,�R� �,
<br /> s�'��, • (a)AS5UMP'TION FUNDING FHE:A fceequal to one-half of 1 pe�cent(.50%)of the unpatd balance of this
<br /> , :"F,; loan as of the daee of transfer of the property shall be payable at ihe time of uansfer W the mortgagee or its =._.
<br /> ' authorized eSent,as avstea for the Department of Veterans Affairs.If the sssumer feiL9 to paY
<br /> this fea at tha time of
<br /> " �heiein providcd, annd�at the opdon o�the mo��ofYthe in bbtsMess h�by �ured o�r�►y�t at� -- --
<br />- --1 ;'s�:��(frr' �1hCiCOf.shall be immodiately dne nnd payable.'Ihis fee is automadcally waived if the assumer ia exempt ander the
<br />�._';:;��,.+�;:� provLsions of 3ti U.3.C.3729(c)• =i- -
<br />=-��• " A5SUMl'TION PRQCESSING CHAR(3B: Upon applicudon for approval to allow essumPdon and s.,,___ --
<br /> ..':" �1 — foc may be charged by the mortgagce or its authorizcd agent for decemiinin8 ihe _
<br />".. �,r.. ;:'�;,r, . uansfa 0�this loan.a Pm�s�►�8 = --_=_—
<br /> ua ----
<br /> creditwuc4hiness of tho �ssun►er and sabsequendy cevLSing the boldec's ownership rec�rds when an approvecY �-_::
<br />- �anyfer is cnmpleted,The amount of this chargo shul� not excced the lesscr of ths muximum established by the �e�
<br /> uan -----_ ---
<br /> Depadmene of Veterans ASfei�s for a loan to wtuch Secdon 3714 nf Chapter 37. Tide 38, United States Code ���*`
<br />_ ' '�, upgli�s or any mani:�num grescri'ocd by appl�rable Swte law. ..-�..-.,,...a..._...R�n.=;
<br /> , f�„'��a�;w�!—.'�,ci
<br /> •, (r,l ASSUMP'I'IS>N 1NDEMMTY LIABII.ITY:If this obllgadon is assumed,then the assumer hereby agcee.� ;�:���
<br /> ' ro assumo 011.of the n ligad.ons of ihe veteran under the terms of the{nstrumeats cneating and securinB dle loan. �`,t
<br /> ;', A ,;+�.�`;; e,:�.
<br /> . � including the obllgntion of d�e veteran tA mden►nifY the llepartR►ent of Vctertu►s Affeirs to the oxtent of any claim . �.�.�4;
<br /> '�`•�,;r , paVment arising fmm the guaranty or insur�►ce of Jie indebtedness created by thfs insuun�en� '``,�=.,v�'F�,.'-.�
<br /> •,s.�j�.:y#b.�i:i`_
<br /> • � �J WiTTIESS WHEREO;�,Bocrower(s)hes executed this V.A.Guaranteecl L.oan t�►d Assumption Policy Rider. •,.-r,�+���,;-
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<br /> , C• �� .Borroaer -Socrower - __ . ,. -
<br /> ° AMES C AT�LEN JR
<br /> �� -Borrower
<br /> — •Borrower
<br /> ' ASSUNIPTI�W PO LCY R OHRD {I !I I , " „ .
<br />- .. "VMD IAORTOJI6E FORM9•(000�527•72p 61C4 I��III�III�II�III�I�I��I����III��II • _, . ._
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