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��14�4954 <br /> L�►TE �HAR�E: At Lender's �ptivn, Borr�wer r�vill pay a "late charge" nflt excee�ing faur �er <br /> cen#um �4°I�} �f the overdue p�yment when pai� more th�n fifteen �15} days af�er the �u� <br /> da�e there�f to c�ver the extra expens� involve� in han���ng �elinquent �aymen�s, but such <br /> "fate charge" sha11 nat be payable out of the �r�ceeds flf any sale made tQ sat�sfy �he <br /> 'rndebtedness secured hereby, unless such proceeds are sufficient to discharge the en��re <br /> �ndebtedness and a11 praper costs and e�penses se�ured hereby. <br /> �I�A�ANTY: Sh�uld the Department of Veterans Affairs fa�! or refuse to �ssue i�s �uaranty �n <br /> fu�l amount within �� days from the da�e that t�is Ioan ►n�ou�� normally become el�gible for <br /> such guaranty c�mmitted u�on by the De�ar�nnent �f Ve�erans Affairs unde� the �rovisians of <br /> T�t�e 3� of the U.S. �ode "Veterans Bene��s," the Martgagee may declare the indebtedness <br /> hereby secured at once due and payable an� may foreclose �mmediately or may exercise any <br /> o�her righ#s hereunder or take any other prop�r actian as by law p���ided. <br /> Tl�AN�FER�F THE PR�PERTY:This laan rnay be declare� irnmediately due and payable upon <br /> transfer flf the prc�perty securing su�h laan to any transferee, unless the acceptability of the <br /> a�sum�tion of �he loan is established pursuant to �ection 3?'14 of Cha�ter 37, Ti�le 38, <br /> Uni�ed States �ode. <br /> An auth�ri�ed transfer �"assurnption"} of the pr�perty shall �Isa be subject to ad�iti�nal <br /> covenan�s an� agreements as set f�r�h below: <br /> �a}A���JMPT��N FUND�N�FEE A f�e equal to <br /> � �.5D°Io}of�he ba�ance of this loan as of the�ate of transfer of the property <br /> shall be �a�able at the time �f transfer to the laan h�lder or its authorized agent, as trustee <br /> for the Departmen� of Veterans Affairs. If the assumer fails to pay this fee' at the time of <br /> transfer, the fee s�al� constit�te an add�tional debt to that alre�dy secured by this instrument, <br /> shall bear interest �t the rate herein provided, and, at the option of the payee of the <br /> indebtedness hereb�r secured or any tran�feree thereof, shall be irnmediately �ue and �ayable. <br /> This fee �s automatically waive�i �f the assumer is exempt under the provisions of 38 U.S.�. <br /> 37�9 �c}. <br /> �b� A�SUMPTIC]N PR��ESSIN� �HARGE Upon application for appr��al to al1�w <br /> assumption �f this I�an, a proc�ssing f�e may be charged by the loan holder or its author�zed <br /> agent for ��terminin� the credifin►��hiness of the as�umer and subsequen��y re�ising the <br /> holder's v�nersh�p rec�rds v�►hen an approved transfer is �orn�leted. Th� amount of this <br /> charge sha�� not e�cceed the maximum established by the Department af Veterans Affairs for a <br /> lo�n to which Sec#ion 3714 af�hapter 37, Title 38, United States Code a�plies. <br /> �c} ASSUMPTl�N INDE�NNITY L�ABILITY: If this abligati�n is assumed, �hen the assumer <br /> h�reby agrees to assume al� flf the �bligations of the veteran under the term� of the <br /> instruments creating and securing the loan. The assumer further agrees to indemnify the <br /> Department �f Ve�erans Affairs to #he extent nf �ny claim payment arising frorn the gu�ranty <br /> or insuranc��f the indebtedness created by this instrument. <br /> q4332$1�6442 �125 35� �Z�3 <br /> In'rtials• � <br /> VMP°5�$R �44Q5}.�1 �age�of 3 <br />