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��14��33� LATE �H�R�E:At Len�ler's ap�ion, Bnrrawer will pay a "late �har��" no� exceeding f�ur �er c�ntum �4°/0} of the �ver�ue p�ymen� vvhen paid mnre than �fteen �15} days �fter th� due date �hereflf �o co�er the ex�ra exp�nse invalved in handling delinqu�nt payments, but such "late charg�"' shall n�� be payable �u� of the procee�s of any sale made to satisfy the ind�bte�ness secured hereby, unless su�h prc�cee�s are sufficEent to �ischarge the en�ire indebtedness and al! �rop�r casts and expenses secured hereby. GUARANTY: Should the Department �f Veterans Affairs fail or refuse to issue its guaranty in full amount within fi� days frflm �he date that this Ioan would narrnafly be�rne elig�ble for such guaranty c�mmitte� upvn by the Department of Veterans Affairs u��r the �ro�isions of Title �8 of the U.�. �ode "Veterans Benefts," �he Mortgagee may deciare the indebtednes� hereby secured at once �ue and �ay�ble an� rnay fareclose immediateiy tir may exercise any ather r'rgh�s hereunder�r take any other�r��er�ction as by law pr�vi�e�. TRAN�FERC�F THE PR�]PERTY:This ��an may be de�lared imrnediately due and payable up�n �ransfer of the proper�y securing such lQan to �ny trar�sf�ree, un�ess the acceptability of the assumption of the loan is establ�shed pursuant t� Sect�an 3714 of �ha�ter 3�, Title 38, U n it�d �ta�es �od e. An auth�ri��d transfer �"a�s�m�tion"} of the proper�y shall also be sub�ec# t� a�ditiona� co�enants and agreements as set forth below: �a}A�SLJMPTION FUNDf1VG FEE A f�e equa� to � �.��°Io}of the bal�nce of thi� �oan as af the dat�of transfer of the prflperty �hall be payable at �he time of transfer to th� Ioan holder �r �ts au�hflrized �gent, �s trustee for th� Depa�ment of Veterans Affa�rs. �f the assumer fails t� �ay th'rs fee at the time af tran�fer, the fee shaff cflnsti�ute an ad�itional debt t� th�t a�ready secured by this ins#rument, shai! bear interes� at the r�te herein prov��ed, an�, at the option of #h� payee �f �he indebtedness hereby secured or an� transferee thereof, shall be immediately �u� and payable. This fee is automaticaily v�raiv�d if the assumer is exem�t under the �rflv�s��ns vf 38 �.5.�. 3729 ��}. �b} ASSUMPTI�N PR��ES�IN� C,HAR�� Upon a�plication f�r approval to ai�o►�v assumpt�on af this I�an, a processing fee may be charged b� the Ioan hol�er or its authorized agen# f�r determining the creditworthiness �f �he assumer and subseq�tent�y re�ising the halder's ownership records r�vhen an apprfl�ed transfer �s comp�eted. The amoun# flf this charge s�all n�t exceed the maximum established by the De�artment flf Veterans Affa�rs for a �flan to�vhich Section 3714 of Chapter�7, Titie 3$, United �tates �ode applies. �c} A MPT� N iNDE�I�lN�TY LIAE3iLlTY: �f this obi�gation is assume�, then the assumer hereb� �grees to �ssume af� of the flbl�gations of #he veteran under the terms �f the ins�rurnents cr�a�ing and securing the �oan. The assumer furkher agrees to indemnify the Department nf Veterans Affair� to the extent of �ny claim payrnent arising from th� guarar�ty �r�nsuranc��f the in�ebtedness crea�ed by this ins�rument. q�332575��51 4125 31� �Z�3 lnitials: � VM P�538R ��4��}.n 1 Page�af 3