HomeMy WebLinkAbout0975 VA RI~ER
THIS RIDER is me~e this 1 7 t i, dqy of ~i~~'~
19 , and is incorporeted into and shall be dee~ed to amend and supplement
the Mortgage, Deed of Trust or Security Deed (the "Security Instru~ent") of
even date hereuith~ given by the undersigned (the "Borrorrer") to secure
Borroxer's hote to BancFsoston hortgage Corporation (the "Lender") of the sa:.e
date and co~ering the property described in the Security Instru.::ent ar.d located
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In a~~iLio,^. to the covenar.ts and agreeWents made in the Security
' Ir.stru~ent, ~,orroxer an~' Ler.der futhe: covenarit and agree as failous:
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A. ACCELERATION. This loa^ is 1°..r ediately dUe and payable Lit:Jii transfer
of the property sec::ring su~h loan to any t:ansferee, un~ess the acceptabiiity
of the ass~..:~ption of the loan is esLaDlished p~;rsuar:t to sectien '1617A of
' Chapter 37, Titi~ 38, Unite:: States Ccde.
; B. FUNDINC FEE. A fee eYUal tc one-raif of 1;;ercer.t of the ta,ence of
; this loan as cf the date o: transfer of the properLy shall be pafable at *.,he
~ tiWe of t:ansfe: to the loan holder or its authorized agent, as tr~:.stee for the
E Ad.~inistrator of 'ietera::s Aff~irs. If the assu::;er fails to pay this fee at Lhe
tiWe of trar,s:er, the fee shall cor,stitute an additional debt to that alrea~y
~ secured by this instruWer.t~ shall bear interest at the rate herein provided,
~ and, at t:~e option of the payee of the in~ebted~ess hereby sec~,:r?3 oi any
~ trar.sferez thereof, s~all be ic.:,ediately due and payable. ,This :ee is
~ autoWatically xai•red if the assu~er is exeWpt under the prcvisions of 3~ U.S.C.
~ 1is29 ~b)•
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~ C. P'r.GC:S~itiG CHARGE. U~;on 8yt,i«-~C1O:, for apyroval to al:cw ass::-Ytion
_ of this lcan, a processing fee may be charged by the loan hcl~er or its
F authcri:.e~ age:~t f:,r determir.ing the cre~itxorthir.ess of tre ass::: er a:~d
~ subse;~ently rev:si^~ t~e holder's esrnership records r+hen an aprroved Lransfer
= is coW;~le ~e-.. The a ~ount of this char,3e shall not exceed the ~axi~uW
e~ta~~'_is:^.t~ Cy t`e 'Jete:ar.s Ad~ir.ist:ation for a Ioa:. tc xhich sec*io:~ 1817A o:
~ Cha,,te: ~7, Ti ~.e ~fs, United States Code ayp? ies.
B. IhDE?~.NIiY LIA~3IGITY. If this obl igation is ass~,L:.ed, then t'r,e asss.:.er
hereb;r a~rees tc ass~.L:.e all of the ctligatior.s of the vete:an under t~-,e terWs
_ ef the instr;r..ents c: eatir~g ar:d ~ecur.ng the loan, i~cluding the obligation of
the veteran tc i::~e= the 'v'ete: a:.s A,~ inist: ation to Lhe extent of a:.y clei~
Ya.;;•~.er.~ arisi .g fro~. t}:e g-.:aranty cr ir:.~arar.ce o: t~.e in~e~te~ne:;s create~? b~
±his inst: _.:.er,t.
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