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<br /> ` --_,-��-��� VA GUA►RA1oITEED LOt�N A1vD�ISSUMP'PI01�1 FOLICY RIDEIt _ � �_ .
<br /> — _ LotUVNO.10-1297 ` � � .
<br /> �,� r ,"-- letOTICE: �IIS LOAN IS IvO� ASSUNiA�L� �I'TIIOtJ'r - �
<br /> � � - TI�E �PRO`IAL OF THE DEPARTMEAIT O� VE1'E1�ANS " ��.�-..� •���,."
<br /> - �� P�'F�tS OR ITS AUTHOKIZEI� AGE1�1T. � -- _ - -.
<br /> ` ; � THIS VA GUA�RANTEED LAAN AND ASSUMPTION FOLICY RIDER is made this 27th day of `. -
<br /> ' �. � • February . 1998 ,and is iacorpon¢ed inm aad shall be deemed w amend and snpplement the - � . ...--
<br /> Mortgage. Deed of Trast or Deed to Secur�Debt(herein 'Se�auity Insirument°)dated of even daie her�witb, �
<br /> g�ven by tbe undersigued(hecein"Borrower")to secure Borrower's Note to � �
<br /> ; � � Major Mortgage, A Wyoming Corporation �" - -
<br /> . `.� QIBIEIII�I.C1�CI"� � �.�_
<br />- � - � and covering the Fmperty descn'bed la the Security lnstrument and lacated at � °� -
<br /> ,.j:..,_
<br /> � 408 North 4th Street,Doniphan,NE 68832 `� �`.<-�"� .'��`�
<br /> . �--- ��s": ;�..�=,
<br /> , � . (PmPeaYAddiess) }'' , ,�',�--;
<br />: ,� • : ' VA GUAltANTETsD LOAN COVENAIJT: In addition to the oovenants and agreements made in the Security . • �#.Y::
<br /> , • ln¢trnmc�.+t,go�wer aad Lender fiuther oovenant and agree as folloas: .���°=``
<br /> •��• � ��..5,'` � Jf the indebtedness secured hereby be gaaranteed or iaYUred under Titte 38, United States Code, such Titte and ,..� ' '��.°'�°-
<br /> � Rcgulations issued thereunder and m effect on the date hereof shall govem the rights. duties and liabilities of . . '�'���
<br /> un ,Y
<br /> ' Boirower and Lender.Any provisions of the Serurity!s��,me^r or other instruments executed in oonneaion with ^� :_
<br /> <• �t
<br />. - • ... ; sa�d indebtedness qrhich are inconsistent with said �tte or Regulatians, inclnding, but not limited to, the s---- -
<br /> • , provision for payment of any sum in connection with prepayment of ths secumd indebtedness aad t6e pmvision : ��_-.,�.
<br /> ' � . _ that the Lender may accelerate paymen[ of the seaued indebtedness puisuant to Covenant 27 of the Secprity ` � =�--_-
<br /> . '. � Instiument,are hereby amended or negated to the extent necessary w conform such insauments to sald Tide or ;;�-�
<br /> ; `•` Regulacions. � .`Q,-"-
<br /> � � • ' LA'i'E CHARGE:At Leader's option.Borrower will pay a'late charge"not exceeding four pec centum(4%)of . _,:�t�=
<br /> �" � the overdue payment when paid more tteaa fifteen(1S7 days after the due date thereof to cover the extra expense .. -;=�;
<br /> . ... .. �. "savolved in han�ing deliaqueat paymeuts.but sucb"late charge°shaU aot be payai�le out of the pmceeds of any . �' _
<br /> . � . sate mads to satisfy the indebtedness secured hereby, unless such proceeds are su�cient to discharge the entire � . •-r-=
<br /> � . • ,. , indebtedness and aU proper costs and expenses seaued hereby. �"�:�_
<br /> • -.�,,.-
<br /> • GUARANTY:Should the Department of Veterans Affaus fail or refuse to issue iu guaraary in full amount within ' *'--.
<br /> � • � 60 days from the date that this loan would normally become eligib2e for such guaranty committed upon by the ' "�-�i_
<br /> ' ,� . -�� Deparcment of Veterans Affairs under the pmvisions of Title 38 of the U.S. Code 'Veterans Benefits," the , . . � .,;�.
<br /> Mortgagee may de�laze the indebtedness hereby secured at once due and payabte and may forectose immediately � �:
<br /> ' t or may exercise any other rights hereunder or take any other proper aaion as by law provided. � ; - _
<br /> .
<br /> • ' • f TRANSFER OF THE PROPERTY:This loan may be declared immediatety due and payab2e upon traasfer of the � ."'�=�:
<br /> � .°t pmperty securing sucb loan to any uansferee,unless the acceptabiliry of ihe assumptioa of the loan is established --
<br /> p�usuant to Section 3714 of Chapter 37,Tide 38,United Statrs Code. . .
<br /> � " .. :��. An auihorized traasfer("assumpdon")of the property shall also be subject to additional covenants and agreements , � �� '. • �`�
<br /> ;• � as set forth below: . . • •�•
<br /> . „
<br /> ' � � (a)ASSU ON FUNDTNG FEE:A fee equal to one-half of 1 percent(.50%)of tne balance of this toan � �
<br /> as of the date of transfer of the property shail be payable at the time of transfer to the loan holder or iu authorized , �
<br /> agent,as wstee for the Department of Veterans Affairs.If the assumer fails to pay this fee az the time of transfcr, . -
<br /> . the fee shall constitute an additional debt to that already secured by this instrument,shall bear interest at the rate � , .
<br /> � hereia provided.and,a[the option of the payee of the indebtedness hereby secured or any transferee thereof,shall �. . , . -
<br /> �` '� � • �` VA OUARANTEED LOAN AND ASSUMVTtON POUCY RIDER �
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