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<br /> `• �' VA GU�N'I`EEID LOAN�iI+TD A.SSUM[�'I'ION P(?LICY R�DER �� • "
<br /> �� �
<br /> � L.oAtvNO.10-1226 -- - -
<br /> —. leTOTIC�: 'TI-�IS L0�1 I3 leTO� ASSUI�IIABL,E �I�OtJT -' r:: �� .
<br /> . � 'TI�E APPR4�IAI. OF THE DEPA�t'TIl�IENT (JF �'T�RAl�13 �. � °`° -� `.v„
<br /> .. . ,AFFAIRS OR I'TS At1T�I0I�ED AGE1�1T. , . � . t ' �� �
<br /> `c i.-
<br /> "�!�r.'"
<br /> _ . THIS VA GUARANTEED LOAN AND ASSUMP'TION POLICY RIDER is made this 12tfi day of ` �,__;;;
<br /> ' , �°� '.,-` February 1998 aad is incorporazed into aad st�all be deemed to amend aud saPplement the ,.__ '_
<br /> . . Mortgage, Deed of Tnrst or Aeed w�Secu�e Debt(herein �SCCUilty inctmment°)dated of even date henwlth, �,f �
<br /> • ' • ' Y given hy the uadeisigned(herein"Borrower")to securc Borrower's Nate to �-`_;i
<br /> � Ma3or Mortgage, A Wyoming Corporation , _'�'�".
<br /> • ,�: (heIC1I1'LCAdCI") �' _—
<br /> ,�c - . - . .�-
<br /> . .: and cavering the Property descn'bed in the Seauity iasm�ment and located at � �.�:,�:
<br />^''.� ` � •� 3130 N. North Road,�rand Island,NE 68803 . , ��}:' _�.___
<br /> ,�.�._
<br /> - -- �v�m�naa�� - - `,��:
<br />•':�: . . VA GUARANTE�D LOAN COVENANT: ln addition to the covenants and agreements made in the Security ���:" �,..`3��"�=
<br /> ` Insmiment,Bor�awer and Lender further covenant and agree as follows: '�`���.-
<br /> . . � If the indebtedaess secvred hereby be guaranteed or insured uader Titie 38,United States Code,such�t2e aad . ; �`;:'.:�`.�,
<br /> . _ . . " Regatations issaed thereunder and in effect ou the date hereof shall govem the rights. duties and liab�ities of . 'A.,�v;,..;::
<br /> ��'`' " Borrower and Lender.Any provisions of the Securiry Insuument or other insnuments executed'm cannection with . ' ,
<br /> �.,,�m _
<br /> � said indebtedness which ar� inconsistent with said Tide or Aegulations. including, but not limited ta, ths �...�._r,�,.�
<br /> • ' ' provision for payment of any sam in connection with PmPaS+ment of the secured indebtedaess and the provision 1�. =...16�
<br />_ , • , . . that the Lender may accelerate payment of the seaued indebtedness pu�suant co Covenant IT of the Secauiry ��.
<br /> ,m. t,are hereby amended or negated to the extent necessary to conform such insuumencs to said Title or ` =�
<br /> �: . Regulations. .
<br /> '��-�--.
<br />��., '� ` LATE CHARGE: At Lender's option,Borrower will pay a°late charge"not exceediug four per centam(4%)of :-:_:r,�
<br /> � the overdue payment when paid more than fifteen(15}days afcer the due date thereof to cover the exaa eapease
<br /> � invotved in handl�ng delinqueat payments.but sucb"late charge'shaU not be payable out of the praceeds of any :;��
<br /> - - _.... sale made to satisfy the indebtedaess secured 6ereby, unless suc6 praceeds are sufficient to dischasge t6e entue . :Y.--�
<br /> � � indebtedness aad ali pmper costs and eapenses secured hereby. ��'4�
<br />- . GOpRpNTY:Should the Department of Veterans Affaizs fail or refus�to issue its guaranty in full amouat within °': •r ..��;°
<br />- � 60 days fmm the date that this loan would normally become eligibfe for such guaranry committed upon by the , ••.�-�;^-
<br /> .+ ,.,� Depaztment of Veterans Affaits under�he provisions of Title 38 of the U.S. Cade 'Veterans Benefits." the � � �__
<br /> Mortgagee may declare the indebtedness hereby secured at once due aad payable aad may foreclose immediately _Y
<br /> ' � • ; or may exercise any o t her ri g hu tierenn de r o r t a k e an y o t h e r p r o p e r a c tion as b y law provided. • • • _�
<br /> ' ;�
<br /> � .'.'{ TRANSFER OF THE PROPERTY:7'his loan may be declazed 9mmediazeiy due and payable upon uansfer of the , � , �'
<br /> `,;: '• � property securiag such loan to aziy uansferee,unless the acceptabitity of the assuaipsion of the toan is established .�
<br />, ° .' pursuant to Section 3714 of Chapter 3�.Title 38, tiniced States Code. �, . ,, .
<br /> • . M authorized uansfec("assumption")of the property sha11 atso be subject to addidonal covenaats and agreements . �. • -
<br /> � ' •• , as set forth below:
<br /> � ' � � (a)ASSIJMP7'ION FUNUING FE�:A fee equal to one-half of 1 percent(.i0°Jo)of the balance of this toan '" � �
<br /> . ' as of the date of aansfer of the propercy shall be payable at the time of traasfer w the loan holder or its authorized . • • .
<br /> -. �. � agent,as trustee for the Deparcment of Veterans Affairs.�f the assumer fails to pay this fee at the time of transfer, , ,
<br /> r � the fee shall constitute an additional debt to that already secured by ahis inswment,shali bear interest at the rate � . ,
<br /> " ' , . ' herein provided,and,at the option of the payee of the indebtedness heretsy secured or any transferee thereof,shall � ..
<br /> .� � . : ' VA OUARAHTEED LOAN AND ASSUMPTION POLICY RIOER �
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