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��14��334 LATE �HARGE: At Lendef's QptEan, B�rr�uver ►nri11 pa� a "la#e charge" not e�ceeding four p�r centum �4°�0} �f th� aver�ue p�ymen� �vhen pai� rnore �han fifte�n �15} days �fter the �ue date thereof to caver the extra e�cpense involved in handlin� dei�nquent payments, but such - "fate charge" shall not be payable c�ut of the �raceeds of any sal� made t� satisfy the indebte�ness secured hereby, unless such procee�� ar� suffici�nt �o di�charge the entire indebte�ness and all pr��er cos�s and �xpen�es secured hereb�. �UARANTY: �h�uld �he Depa�tment of Veterans Aff�irs fail or refuse to issue ifs g�aranty in full �rn�un� with�n �4 dayS fram the date �hat this l�an �vould norm�lly become eligible for such guaran#y committed upon by #he Qeparkrnent vf Vefierans Affairs under the �ro�i�ions of Title 38 of �he U.S. �ade "Ve�erans ��nef��s," �he Mortgagee may declare the indeb�edness hereby secured �� ❑nce due an� payable and may f�r�c�ase immediately or may exercise any �#her rights hereunder or�ake any�ther proper action as by faw provided. TF�AN�FER�F THE PR�PERTY:This I��n may �e declared imrne�iately �ue a�� yable u�� transfer of #he prQ�erty securing such ioan to any transferee, unless the a�ceptability of the assumpt'ran af the loan is estab�ished pursu�nt to Section 3�14 �f �hapter 37, T�tle 38, U n ite� Sta�es��e. An authorized transfer �"assurn�tion"} of the prQ�erty sha�1 �Iso be su�ject ta add�ti�naf covenant�and agreernents as s�t fo�h belovv: �a}�1 � MPTI N �UN�i�fG FE� A fee e�ua1 tv � �.5D°Io]of the b��ance�f this lvan as of the�ate of�ransfer of the �ro�e�ty shall be �ayable at the time of �ransfer #o the ioan ho��er �r i�s authariz�d agent, as tru5tee for the Departm�nt of Veterans Affa'rrs. If �he assurner fa�ls to pay �his fee a# the time of �ransfer, the fee shall c�nstitute an addition�l �ebt to that already secure� by this instrurnen�, shall bear inter�st at �he rate herein provided, and, at the opti�n of the payee �f the �ndebtedness hereby �ecured or any transferee thereaf, shall b� �rnmediately due and payable. This fee is a�tomatica�ly wai�ed if �he assumer 'rs exem�t under the pro�ision� of 38 L�.S.C. 37�9 �c}. �b} AS �lPTI N PR E �N HAF�GE Upan applica�ion for ap�r�val to ��lo�► assumption of this Inan, a proc�ss�ng fee may be ch�rge� by the lo�n h��der or its authorized agent far deternn�nin� the creditwv�th�ness �f th�e assumer a�� subseque�t�y rev�sing the h��r's ownersh'rp records when �n ap�r�ve� �ransfer is �ompleted. The amount Qf this �h�r�e shall not excee� the max�mum �stabl�shed by the Departmen# of Ve�er�ns Affairs for a loar�to whi�h �ect�an 3��4 of�ha�te�37, Tftle 38, lJnite� State��e app�i�s. �c� A��IIIIPTI�31V �NDEMI��TY LIABIL�TY: !f this obligati�n is assum��, th�n the assumer hereby agrees to assume a�� of the obligations of the veteran under the #erms of the instrurnents creating �n� securing the laan. The assumer fur�her agrees �� indemnify #he Dep�r�ment nf Veterans Affairs ta the extent af any c�a�m payment aris��g fram the guaran�y or insuran�e�f the in�ebtedness created by this �nstrument. q�33�5443360 �125 367 0�03 �nitia�s: . � , V�P�538R ��445}.D 9 P�ge�of 3