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<br /> _ -� - . VA C�UA�RpiNT��D LOpil11 AND�LS.SiJMg'd'ION�LICY RI1D�R `,� =.y.:��`:•:G;:
<br /> . <
<br /> � , �`- ` � LoAN No.10-1289
<br /> . ,: :..�. .., �
<br /> _ .� - ';=5 NOTICE: �HIS LOAN IS NOT ASS�AB�LF��II��N� . �-::Y .E,,_:-°
<br /> � � , ` T�IE �PP1tOi�AI. OF THE I)EPARTIVIE ��_�°. ;;:�.-.
<br /> -f{ � - ���� �� A�FAIRS OR TTS AUTHORI�ED AGENT. `„�� ��.::`"---
<br /> �:% � , THIS VA GUARANTiEED LOAN AND ASSiJMPTION POLICY RIDER is made this 9th day of � `�',.,• •: `-"'."._
<br /> - � . �laPCh , 1998 ,and is incorporated into and shall be deemed to amend and supplement the .'.Y _ -_,-__
<br /> `�'� � Mortgage. Deed of Tn�st or DePd to Secure Debt(herein �SeauitY Insuument')dated of evea date he�ewith, �.� _�`
<br />- :.r ' , given by the undersigned(herein"Borrower")to secure Borrower's Note to `��� .`._-
<br /> �� ' - �, - Major Mortgage, A Wyoming Corporation = -
<br /> . .. . ro�m'�"� . �J
<br /> _ � and oovering the Pmperty descn'bed ia the Securiry Instrument and located at �:;;:.�_`;- --
<br /> `- � 1808 N. Lafayette Avenue,Grand Island,NE 68803 . . . ' __
<br /> "f, ..' (PmPertYAddless) , �;;rT-=«
<br /> ��,,. � .. VA GUARAN7'EBD LOAN COVENANT: Iu addiaon to rhe covenants and agreemenrs made ia the Securiry =,:�----
<br /> Iastrument,Borrower and Lender futther wvenaut and agree as follows: •`=�;---
<br /> . � `.� .: ": If the iadebteduess seaued hereby be gnaranteed or insured under Titte 38, United States Code, such Tide aad • - __
<br /> ;�,�� . . �.. RegWations issued thereunder and in effect on the date hereof shaU govem the rights. duties aad liab�lities�f ... ^:'____
<br /> � Borrower and Lender.Aay provisions of the Security lnscsoment or other ir�savments eaecuted in connection with ,.,. .�;;_�-
<br /> Y� ' �` said indebteduess wiuch are inconsistent with said Title or Regalations, imcluding, but not limited to, the '�: .�._
<br /> . . provision for payment of aay sum iai cunnection with prepayment of the seeured indebtedness and the provision , - _
<br /> �" `�,i that the Lender may accelerate payment of the secured indebtedness pursuant to Covenant 17 of the Secariry . , u',
<br /> �nstn�ment, are hereby ameaded or negated to the exteat necessary w conform such insuumenu to said Tifle or ';_;�F'-.
<br /> `:, . . . Regnlarions. . •'''���;
<br /> . - - . . • ...-. LATE CHAR(3E:At i.eader's opdon,Borrower wt31 pay a'late charge"not exceeding faur per centum(4%)of '' ,. . � _:v�--
<br /> ' ' the overdue payment when paid more than fifteen(1�days afcer the due date ihereof to cover the esaa expense
<br /> �. � imrolved ia handling deliuquent payments.bui such"late charge"shall not be payable out of the procceds of any � . G��.:
<br /> � � ' � sale made to satisfy the indebtedness secured hereby, unless such pmceeds aze sufficient to d9scharge the entire .. '�
<br /> � . indebtedness and all proper cosu aad exgenses sec�ued hereby. .' -.���'`�
<br /> ' GUARANTY:S1tauld the Department of Veterans Affairs fail or refuse w issue its guaranry in fu11 amuum within . � ��
<br /> � 60 days from the date that this loan would normally become eligibte for such guaraaty committed uPon by the . "'
<br /> ' Department of Vetetans Affairs under the pro`risions of Title 38 of the U.S. Code 'Veteraus Benefits, the , ��.:
<br /> � � Mortgagee may declare the indebtedness herehy secuted at once due and payable and may forec2ose immediately :•'.:.,
<br /> . or may exercise any other rights hereuuder or take any+other pmper acrioa as by law provided. , _
<br /> •� • � TRANSFER OF THE PROPERTY:This loan s�y be declared immediately due and payable upon uxasfer of the , _
<br /> � pmperty securing such loan to any transferee,unless the acceptabiliry oi the assumptioa of the loan is cstablished . :
<br /> �. � pursuant to Section 3T14 of Chapcer 37,Tide 38.United States Code.
<br /> ' An authorized ttansfer("assumption")of the property shall also be subject to additional covenants and agreements �
<br /> • �. as set forth below:
<br /> �• � (a)�SSUMPTION FUNDI_G F�E:A fee equal w one-half of 1 percent(.50%)of the batance of this loan .
<br /> � as of the date of transfer of the property shall be payable at the[ime of aansfer to the loan holdec or its authorized . .
<br /> � � � agent,ac trustee for the Departmen[of Veterans Affazrs. If the assumer fails to pay this fee at the time of uansfer. •�
<br /> ��";�`j �� , ttte fee shall constitute an additional debt to that already secured by ttus instrument.shall bear interest at the rate . _
<br /> , ' herein provided,and,at the option of the payee of the indebtedness hereby secured or any transferee thereof.shall .
<br /> • VA OUARANTEED LOAN AND ASSUMPTION POLtCY RIDfR .
<br /> ��5388 issoa�.m 1195 . .
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