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<br /> � VA GUAIZAI�EED LOAN AI�TD A►�iSUMF'I'YOPi Ff3LICY Y�ER � - -. ---—r-- — .
<br /> ': LoANN0.10-1001 � � '_
<br /> � NOTICE: THIS LOAN IS N P�TMENT BOFEi�ETERANS • � ._ _.�
<br /> THE AFPRO�AI, OF TI-�E DE , � �:
<br /> � AFFAIRS OR I'�S AUTHORIZED AGENT. � .� _ .:
<br /> :�
<br /> THIS VA GUARr1NTHED LOAN AND ASSUMPfION POI.ICY RIDER is made this 19th day of • _ =-- '
<br /> Mdt^Ch 1997 ,and is incorporated into and shall be deemed to amend and supplement the , ;. "` :�_-r,--
<br /> Mortgage, Deed of Trust or Deed ro Secure Debt(herein °Securiry Insirument") dated of even date herewith, ' . A �' �'
<br /> ..�_f,-�t����.
<br />. given by[he undersigne�(hsrcin"Borrower")to secure�orrower's Note to � . . • n:—:----�-
<br /> Major Mortgage � ^��
<br /> .:���-
<br /> (herein"L.ender')
<br /> and covering the Property described in the Secariry Insuument and located at : ' � ����
<br /> ;�„�;�.�
<br /> - 1118 W. 8th,Grand Island,NE 68801 �_�.-- �'��
<br /> r.�r��
<br /> '�� (Properry Addrest) . ,,.e�f��"��e,
<br /> :.,'�' VA GUARANTEED LOAN COYENANT: In addition to the covenants and agreemenu made in the Securiry � =� -�'� -
<br /> Instrument,Borrower and Lender further covenant and agree as follows: ��''r:.
<br /> If the indebtedness secured hereby be guaranteed or insurecl under Tide 38, United States Code,such Title and -��.� . �'
<br /> Regulations issued thereund�and in effect on the date hereof shall govern the rights. duties and liabilities of ;�=' �;, ''`
<br /> Borrower and Lender.Any provisions of the Security lnstrument or otber instrumenu executed in cornection with '
<br /> said indebtedness which are inconsistent with said Title or Regulations, including, but not lir�ited to, the .. . ,;s,�_•_';
<br /> pres:sion for payment of any sum it►oonnection with pre�3yment of the secured incdebtedness and the provision � �
<br /> " t�zt �e I.ender may accelerate payment of the secured ir:d�btedness pursuant to Cotienant 17 of the Sccuriry �� ' �':
<br /> � Instreiment, are hereby amended or negated to the excent neressary to wnform such instruments to said Title or '-� -•- ;,;y ;-.
<br /> . Regulations. - .
<br /> LATE CHARGE: At l.ender's option,Borrower wi11 pay a"laze chazge"not exceeding four per centum(4%)of j���' `
<br /> the overdue payment when paid mare than fifteen(15)days af[er the due date thereof to cover the exua eapense _ . ` `�� _
<br /> involved in handling delinquent payments,but such "late cbazge° shall not be payable out of the proceeds of azry - � �
<br /> sale made to satisfy the indebtedness secured hemby,unless such proceeds aze sufficient to discharge the entire _ °
<br /> indebtedness nnd all proper cosu and expenses secured 6ereby. - _ `- _,
<br /> GUI�RANTY:Should the Department of Veterans Affairs fail or refiue to issue its guaranty in full amount within `'p'
<br /> � 64 da s from the date that this loan would aorniaUy become eligible for such guaranry committed upoa by the �%�-,
<br /> � . Depa t ent of Veterans Affairs under the provisions of Title 38 of the U.S. Code "Veterans Benefits,° the �� -
<br /> _ Mongagee may declue the indebtedness henby secured z�once due and payable and may foreclose immediately - _ ��-- _
<br /> . or may exercise any other rights hereunder or talce any ot�er proper action as by iaw provided. ''��—=-�'� '
<br /> TRANSFER OF'd'Hfi PROPERTY:This loan may be declared immediately due and payable upon[tansfer of the .'���'�•
<br /> property securi��such loan to any uansferer,unless the acceptability of the atsumpeion of the loaa is established -J"``�'•'
<br /> .� pursuant to Section 3714 of Chapter 37,Title 38,United States Code. . ' � _ _
<br /> ,.'>;
<br /> An au�horized transfer("a�sumption")of the pmperty shall also be subjea to additional coveaants and agreements �,��,•-..,T, �
<br /> . �s set forth below: '�y
<br /> . (a)ASSUMPTION FUNDING FEE: A fee equal to one-half of!percent(.SO�o)of the bala.:,,s�of this toan ''������"
<br />• . as of the date of transfer of the property shall be payable at the time of t�ansfer to the loan holder er:�s authorized "� ' "•`'`-
<br />� agent,as tnistee for the Department of Veterans Affairs. If the assumer fails to pay this fee at the ti�e of transfer, ..�, ` ��`,�'��, r�
<br /> the fee shall constitute an additional debt to tha[already secured by this instrument, ssall bear interest at the nte . '-,Yy`_�" -'-,,;.
<br /> • herein provided.and,at the aption of the payee of the indebtedness hereby seeured o:any transferee thereof.shall •: �i�•;�'.:':`�`'.-
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<br /> VA C�UARANTEED LOAN AND ASSUMPTION POUCY RIDEFi � `�������"�
<br /> . _���+•�,.�.:.
<br /> ��SS�3B 195041.01 1f95 _':i��L,`•''s,�•';.
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