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201109029
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201109029
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Last modified
3/7/2012 11:14:41 AM
Creation date
12/2/2011 3:09:22 PM
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DEEDS
Inst Number
201109029
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201109029 <br /> (a) ASSUM PTIOP6 FUNDING FCE: A fee equal to one-half of 1 percent(.50%)of the unpaid <br /> principai balance of this loan as of the date of transfer of the property shall be payable at the time of transfer <br /> to the mortgagee or its authorized agent,as trustee for the Secretary of Veterans Affairs. If the assumer fails <br /> to pay this fee at the time of transfer,the fee shall constitute an additional debt to that akeady secured by this <br /> instrument, shall bear interest at the rate herein provided, and, at the option of the mortgagee of the <br /> indebtedness hereby secured or any transferee thereof, shall be unmediately due and payable. This fee is <br /> automatically waived if the assumer is exempt under the provisions of 38 U.S.C. 3729 (b). <br /> (b) ASSUMPYION PROCESSIIti0C9 �FiARGE Upon application for approval to allow <br /> assumptions and transfer of this loan, a processing fee may be charged by the mortgagee or its authorized <br /> agent for determining the creditworthiness of the assumer and subsequently revising the hoider's ownership <br /> records when an approved transfer is completed. The amount of this charge sha11 not exceed the malcimum <br /> established by the Department of Veterans Affairs for a loan to which section 3714 of Chapter 37, Title 38, <br /> United States Code applies. <br /> (C) A�SUM PTION INDEM NiTY LIABIlJTY: If this obligation is assumed,then the assumer <br /> hereby agrees to assume all of the obligations of the veteran under the terms of the instruments creating and <br /> securing the loan, including the obligation of the veteran to indemnify the Department of Veterans Affairs <br /> to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this <br /> instrument. <br /> IN WITNESS VJHEREOF, Mortgagor(s)has executed this Assumption Palicy Rider. <br /> � /l� <br /> °��� (Seal} (Sea1) <br /> TH S J. CANI�`F�E; JR. Mortgagor Mortgagor <br /> {Sea1) (Sea1) <br /> Mortgagor Mortgagor <br /> (Seal) (Sea1) <br /> Mortgagor Mortgagor <br /> VA ASSUMPTION POLICY RIDER pa����yP,� <br /> VAPR.RDR 01/22/09 Page 2 of 2 www.docmagic,cam <br /> �)I'I I II'I II II I'I(I��I I I'I'II(II I'I�1 III I I�I I)(I(I II�II III <br />
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