HomeMy WebLinkAbout0168 ASSUMPTION RIDER
(ATTACHED TO FHA SECURITY INSTRUMENT AND INCORPORATED)
(THF.RETO FOR ALL PURPOSES)
THIS RIDER SHALL AMEND AND SUPPLEMENT THE MORTGAGE, DEED OF TRUST, TRUST
UEED C1R SECURiTY DEED ("SECURITY INSTRUMENT") OF THE UNDERSIGNED MORTGAGOR,
7'RUSTOR OR GRANTOR ("MORTCAGOR") GIVES TU SECURE THE MORTGAGOR'S LOAN FROM
LF.NDER (WITH IT5 SUCCESSORS AND ASSIGNS, ("MORTGACEE"), AS FOLLOWS•
9(b) SALE WITHOUT CREDIT APPROVAL.
LENDER SHALL, IF PERMITTED BY APPLICABLE LAW AND WITH PRIOR
AYPKOVAL OF THE SECRETARY, REQUIRE II~tEllIATE PAYMENT IN FULL
OF ALL THE SUMS SECUI2ED BY THIS SECURITY INSTRUMENT IF:
(i) ALL OR PART OF THE PROPERTY IS OTHERWISE TRANSFERRED
(OTHER THAN BY DEVISE OR DESCENT) BY THE BORROWER, AND
(ii) THE PROPERTY IS NOT OCCUPIED BY THE PURCHASER OR GRANTEE
AS HIS OR HER YRIMARY OR SECONDARY RESIDENCE, OR THE
PURCHASER CR GRANTEE DOES SO OCCUPY THE PROPERTY BUT
HIS OR HER CRF.DIT HAS NOT BEEtv APPROVED IN ACCORDANCE
WI'fH THE REQUIREMENTS OF THE SECRETARY.
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