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201211145 LATE CHARGE: At Lender's option, Borrower will pay a"late charge"not exceeding four per centum (4%)of the overdue payment when paid more than fifteen(15)days afrer the due date thereof to cover the exlra expense inwlved in handling delinquent payments,but such"late charge"shall not be payable out of the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds aze sufficientto discharge the entlre 3nde6tedness and all proper wsts and expenses secured hereby. TRANSFER OF THE PROPERTY:This loan may be declared immediately due and payable upon transfer of the Property securing such loan to any transferee,unless the acceptability of the assumpHon of fhe loan is established pursuant to Section 3714 of Chapter 37,Title 38,United States Code. An auWorized iransfer ("assumpfion") of the Property sLall also he subject to additional covenants and agr�ments as set forth below: (a)ASSUMPTION FUNDING FEE:A fee equal to five tenths (0.500 %) of the balance of this loan as of the date of hansfer of the Property shall be payable at the time of transfer to the loan holder or its authorized agent,as irustee for the Department of Vetecans Affairs.If the asswner fails to pay this fee at the time of hansfer,the fee shall conshltute an additional debt to that already secured by this iasM�ment, sLall bear lnterest at the rate herein provided, and, at the option of the payee of the indebtedness hereby secured or any transferee thereof, shall be unmediately due and payable.This fee is automaflcapy waived if the assumer is exempl under the provisions of 38 U.S.C.3729(c). @)ASSLJMPTION PROCESSING CHARGE:Upon appflcaHon for appmval to allow a�umption of this loan, a processing fee may be chazged by the loan holder or its authorized agent for determtning the credilwor8�iness af the assumer and subsequendy revising the halder's ownership r�ords when an approved transfer is completed.The amount of this charge sLall not exceed the maximum established by _ the Depar[ment of Veterans Affairs for a loan to wlrich Section 3714 of Chapter 37,Tifle 38,United 5tates Code applies. . (c)ASSLIMPTION INDEMNITY LIABILTTY:ff this obllgaflon is assumed,then the assumer hereby agrees to assume all of the obligaflons of the veteran under the terms of the insmiments creating and secuting the loan. The assumer further agrees to indemaify the Depaztment of Veterans Affairs to the extent of any clalm payment arlsing from the guazanty or 3nsurance of the indebtedness created by this instrument. 92285636 0086307519 Initials:�_ �-599R(0310) Page 2 of 3