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<br />- .__... V,�GUAItAI+iTEED LOAN A1�D ASSiJMP'I'ION POLICY RIDER ` �- _< ` : • ;,:
<br /> - ���-;._ I, <
<br /> :,= - �, ' -� �
<br /> - i.oart No.1539217414 ��
<br /> . . � l�OTIC�: THIS LOAN I3 1VOT ASSL:fMA�LE �T�R�A.NS , .�� , �
<br /> THE APPROVAL OF THE IaEPARTMEN'� OF V . :�:.� � , -,:�.;��
<br /> - �� ' . AFF�iIItS OR I'I'S AU'rHOItIZED AGEI�TT. . �_ ,:��_.<;�.:���_
<br />. , . LOAN AND ASSIJNIP'fiQN POLICY RIDER is made this 231^d day of .;��<:."-
<br />': t . 'THIS VAGUARANTEID . ,.`,s��`-
<br /> Febi^Udl"y 1998 ,and is inroiporated into and shall be dcemed to amend and sugplemenc[he ,;._
<br /> � � Martgage,Deed of Trust or Deed to Secure Debt(tterein "Security lnstrum�°t"��� of even date herewith. ,�
<br /> �-� �.
<br /> . given by the undetsigned(here�n"Borrower')to se�a�re Sorrawer's Note to :, _�. .
<br /> - COLUMBUS FEDERAL SAVINGS BANK (herein"Lendei) ��
<br /> � ,.:��` _
<br /> ' ' and covering the Property described in the Security Instnuttent and located at - - � �
<br /> . ;,_,��.___
<br /> • • ::� � '.�,, _`,�<•.`
<br /> ' �. :,; 1020 NORTH 5t{EItIDAN,GRAND ISLAND,NE 68803 _ _
<br /> . fProPenY
<br /> Address) • ' c, :��,
<br /> �;�` _-
<br />� , ` . VA GUARANTEED LOAN COVENANT: U►addition ro the covenants and agreemenu made in the Securiry :. �-�• �.�-�-;
<br /> ' • `�' Inst�ument,Borrower and Lender further wvenant and ag�ree a5 follows: y'�i :��'
<br /> . _ '� .�;.. If the m8ebtedness secured hereby be gnaranteed or insured under Tide 38.United States Code, such Tide and . _ s —_
<br /> ' ' Regalations ;ssued Were�a der a a d in e f f e c c o n t h e d a t e h e r e o f s h a t l g o v e m t h e ri g h t s, ducies and liah�lities of ` '{,._..-_;_,'
<br /> � Bormwer and Lender.Any pravisions of the Secuiity Instmmeat or other instNmenta executed in connection wi t h '` ,� � _
<br /> said indebtedness which are inconsisteent with said TWe or Regulations, including, but not 1'united to, the ;�.,�_,
<br /> co n �
<br /> . , provision for pay�nent of any s�m in�°nn�aoa with prepay�ent of the s e c u r e d indebtedness and the pmvision � � ,=
<br /> that the l,ender may accelerate payment of the secured iadebtedness Pursnaat w Covenant 17 of the Security � ,� f yr�:
<br /> , � in �+.,ent, are hereby amended or negated to the extent necessary to conform sucb insu�uments to said Titte or , :�v, --
<br /> �y- `"�
<br /> , � ° Regulations. t , ' r�'��
<br /> � • ` '.} LATE CHARGE:At Lendet's option,Bonower will pay a"late chazge" not exceeding four per centum(4%)of ; ',.-,�„_
<br /> ., �- ,.
<br /> � • the overdae payment wben paid more than fifceen(1�daYg afcer the due da[e thereof to cover the extra expense :..�..
<br /> -- • �'-,� involved in handlia&delin�Nent Fayme��s�but such"late charge"shall not be payable out of the proceeds of any `���'_
<br /> � sale made w satisfy the indebtedness secured heceby, unless such proceEds are sufficient to discharge the emire ;..,�}`
<br /> � '• indebtedness and aU proper wsts and expenses sec�ued hereby. . '�' '::��:•
<br /> . /.5 GUAItANT1t:Should the Department of Veterans Affairs fail or eefuse to issue its guaranty in full amount within •,'.�t:':.:,r__-
<br /> • �� 60 days from the date that this loan would normaUy become eligible for such guaranty committed upon by the ; . ��
<br /> - �. :• Department of Veterans Affairs +mder the provisions of Titte 38 of the U.S. Code "Veterans Benefrts," the ..,� , �z:
<br /> ,.. Mortgagee may declare the indebtedness hereby secured at once due and payabie and may forecIose i�ediatety f.;:.r,"` .. :�_T"
<br /> � , o r m a y exercise an y other rights tnteunder or take any other proper action as by law provided. :�z=
<br /> � ' ' TRANSAER�F THE PROPERT1f:'This loan may be declared immediately due and payable upon transfer o f t he �`
<br /> . . :;�; property secuting snch loan to any transferee.unless the acceptability of the assumption of the loan is established � ''
<br /> , pwsuant to Section 3714 of Chapter 37.Title 38.United States Cade.
<br />- � An authorized transfer('assumptian")of the properry shall also be subject to additional covenants and agreements .
<br /> � ' as set forth below: . . '
<br /> � � (a)�►cSUMPTION FUNDIPIG FEE:A fee e9ua1 to onc-half of I percent(.50%}of the balance of this loan ":F, . _
<br /> as of the date of transfer of the property shall be payable at the time of transfer to the loan holder or its authoriud . ,,:
<br /> ; . agent,as trustee for the Department of Veterans Affaira.if the assumer fails to pay.his fee at ihe time of transfer. . ,
<br /> the fee shall wnstirute an additlonal debt to that already secared by this i:istrument,sha11 bear interest at tbe ratc
<br /> herein provided.and,at the oQtion of the payee of the indebtedness heretrz secured or any transferee thereof,shall ,. ..
<br /> . VA OUARANTEED LOAN AND ASSUMPTION POLICY 810ER
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