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20�20�077 LATE CHARGE: tit I.eader's opdon, �orrower vvill pay a"late charge" not exceeding faur per centum (4%) of the overdue payment when paid more than fifteen (15) days after the due date thereof to cover the extra e�ense invoIvee� in handling delinc�ue� pay�ents, but such "late charge" sl�all aot be payable out of itte pro�eeds of any sale ma�e to satisfy the iadebtedness secured hereby, un1�s such proceeds are strf�cient to discharge the entire iudebtedness a�ct atl, pro�r casts and expenses secure� fiereby. G�.JARANTl�: ��ho�d the Depa�ment of Veterans Affairs fait or refuse ta 'isse�.e its g[tar�ty in full amount wit� 6(? days fiam tbe �'a�te tiaat ttus Io�a v�ot�.lc� nom�ally bemme eligible far such g�aranty cximmitted �a� �ry tise �egar� er� Vet�rans A€�irs � the gravisions of 'Fitie 3� o� �Iie �,I.S. Code "Yeter�s �ae�ts," the Mortgagee �y de�Iare t�e �t�ess hereby s� aL o�cce d�e � gayabie and m�y fQre,�Iose �ya �rr may e1¢e�i� ati,y o� sights here�er or tak� aay c�t�teg grapea a�tcoa as by taw larovi�d. '�N�� PROP�R'1''g: '�his te�aa �y �e c�ectarecP �iatel� cEe� � p�.yaFsBe upon tr�sfe� o€ ti�e ProPe`rty se�s� srads toan to aaty t�sferee t1ICT25S tltE 3i�Tl�2IYLY 0� L� �LIOII O� L� TO�IL is �Iis�Ce�t g�s�t tca S�i� 37I4 of �I�agter �'7, 'P�'�tSe 38, �Jgite� States Cc�. A� �at�c�� teaas�er �"� '"} of t1� grogerty s�t a�sso be s�b,�ect to ��i� covea�ts � a�ts a5 s�et ff�re� �¢Ifl�sr: (a} A�S�F14�'D�OI� �R�ID�G �: .� �ee � t� oa�e �t � I%) og v� t�ta� aaf tkis �o�n �s o€ tfie c�e af taa�sfea �f ti�e ga�aty sha�1 He ga�ste aE tis� rime of transfes �o t� Ioaa I�.older o� its aut�o� age�ee, as ��c�r d� �J�e� o� \Teteraa� t�ffaits. �f tk�e a� f�s to �y t�eis fee � the time of �er, t� $ee sbaSE �� aa��icm� �st to that aire�y � by tl�is i�t, shaZl bea� interest ae tYse sate &�e� �Srofricfi�, aac�, at the ag�io�. a� tlie payee of the i�btedne�.s fiereby securect or a�ny tcansferee t�e��, sEta�tI be i�vatel�r d� anci payabte. �s fee is �iaa�.ticaU,y waivec� if the ass�mer is �xe�pt iucder ti�e gravisiogs Qf 38 �T.�.C. 3729 (c}. (b) ASS[�M�ON PRO��SIl�TG �I�A.RC�E: �Jp�sa aggFic�io� fos appraA�r� t� a�av�r assv�tiog of �is tarau, a p�g � may 6e c�rarg� �y tF�e Iaaan �Ie�er �r its authoria� age�c foE det�**p;TTg the ere�t�vcrre3si;�ss a� t� ass�er �d �u��r revisiicg the holder's o�p recc>rds whe� �mm approv� transfer is comptete�. T&e amuva►t a�f tb.is c;�arge shall nat exceed t�ze m�imum estabIished bp the IIegartmen�t crE ��teaags Affairs for a Icrau to �rliich �tion 3? f 4 of �ha:pter 37, Ti itle 3��, Unitec� StaLes �ode agp�ies. (c) ASSLJIV�PTI�N INDENINIT�I� �.ZABIL.�TY: If this obligation is assumec�, ti� the a.ss��r hereby agrees to assume aIi o€ the abtigations of the veterui under the terms of the instr�ents cre,ating anc� s�uring the loan. Tlie assumer further agrees to inc�emnify the Department of Veterans Affairs to the extent of any claim payment arising from the guaranty or insurance of the indebtedness created by this instrument. 7 ```� �-538R (0301) Page 2 of 3 �