HomeMy WebLinkAbout0013 AND WHBRBAS, the parties of the first and second parts have requested the party of
the third part to release the parties of the first part from all further liability
to the Administrator on accouat of auch loan and such other advances (including
' 'l~ability resultant fraan any default of the parties of the second part or of any
aubsequent dwner of the property) puxsuant to proviaions of the Servicemen's Read-
~ustment Act of 1944, as amended, now Chapter 37, Title 38, 0. S. Code, in the form
8ubstantially as set forth hereinafter and below the eignatures of the parties of
the first and second parts, but the party of the third part is unwilling to execute
auch release unless the parties of the secand part become liable to whoever is or
becomea (or claims under) the holder of said mortgage, note, loan and other debts
for the full performance of each thereof, and also become liable by indemnification
to the United States, by execution hereof;
NOi~1, TNBRBFORB, iin consideration of the foregoing premisea, of other good and val-
uable considerations, and of the sum of One Dollar in hand paid by the partiea of
the first part to the partiea of the second part, the receipt of which are hereby
acknowledged, IT IS HBRBBY AGREED:
1. The parties of the second part, jointly and severally, hereby assume and
agree to pay the entire aggregate unpaid amount secured by said mortgage, and to
perform all provisions of said mortgage and note, to the same extent and with the
same rights in the holder as though said second parties had been the original
mortgagors and makers of said note or had become liable for such other advances,
including (but not exclusively) interest at the rate set forth in the mortgage and
note, taxee, assessments, sewer and water rents, ground rents and hazard insurance
premiums, in accordance with the terms of said ins~ruments or as said terms may,
from time to time, be modified or changed, and these liabilitiea ahall continue in
the future even though either or both of the parties of the second part have bona
fide parted with said mortgaged property and with every intereat therein.
2. The parties of the-second part, jointly and severally, hereby assume liabil-
ity to, and become liable to, the United States Government for the contract of
~r9e R~ , one of the parties
Veteran who used Loan Guaranty entitlement)
of the first part, to indemnify the United States Government for any amount paid
or loss suffered by the Administrator of Veterans Affairs on account of the liabili-
ties of said George R. 1LCker under
(Veteran who~ used Loan Guaranty E~ititlement
the provisions of the Servicemen's Readjustment Act of 1944, as amended, now Chapter
37, Title 38, U. S. Code, and the Veterans Administration Regulations issued pursu-
ant thereto. .
3. The w~nrd "note" as used in this instrument shall be construed to include
~ note, bond, extension or modification agreement, or other instrument, evidencing
` the loan indebtedness or other advances under or secured by said mortgage, all as
i hereinabove mentioned or referred to; and the w~ord "awrtgage" shall be cons#rued
to include mortgage, deed of trust, nwrtgage deed, or other instrument securing
said loan indebtedness an$ (or) securing any (other) said advances made pursuant
to such "mortgage." The singular number shall include the plural, and the plural
shall include the singular. To any extent applicable, these definitions also shall
apply to the provisions executed below by the Administrator of Veterans Affairs. .
IN TESTII~IONY WHEREOF, the parties of the first part and the parties of the second
part hereto have signed and sealed this instrument, with intent to be legally
bound, the day and year hereinabove first mentioned.
Signed, 3ealed and Delivered
in the pres nce of . {SEAL~
. Pa of t e First Part
~c-
• ~J~c e..~ ts~)
. Part of the F st Part
s to arty of t e First Part •
Signed, Sealed and Delivered ~S~~
in t:~ p ence of Party of the nd Part
~
. (SEAI.)
rty the Seco Part ~
As to Part e Second Part
VA Form 6-138 (317) " ~3
Feb 1961 (2)