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��14��5 � i i � � LATE �HAR�E: At Lender's option, Borrower w'rl! pay a "�a�e ch�rge" not exceedin� four per � centum �4°l0) of ti�e overdue paymen� wn�n pai� more �han fifteen 41�� days af�er th� due date ther�vf t� cover th� extra �xpen�e �nv�lved �n handling delinquent �ayments, but such "lat� charge" shall not be payable out Qf the proceeds of any sale made t� satisfy �he indeb�edness secured hereby, unless such �roceeds are sufficient to �ischarge fhe entire indebtedness an� al� praper��sts and expenses secured hereby. �UARANTY: �hauld the De�artment of Veterans Affairs faii or r�fuse to issue its guar�nty �n full arn�unt within �4 �ays from the date �hat this loan woufd normally become e�i�ibl� f�r such guaranty committed up�n �y the De�arkrr�ent of Ve�erans Affa�rs under the prov'rsfons of � Title 38 of the U.S. �ode "Veterans �3enefits," th� Mortgagee may declare the indebte�ness hereby secure� at vnce due and payab[e a�d may f�re�lQs� �mmediately o� may e�erci�e any �ther ri�hts hereun�er or take any other pro�er action as by faw prQvided. T�NS�'E�RQF THE P#�QPE�TY:�'h�� an rr�a� be de��are� �rr�m��iately �ue an� �ayab�e u�� transfer of the property securin� such loan ta any transf�ree, un�ess th� a�cep�abi��ty of the assum�tion of t�s �oar� is �e�tablished �ur�uant to �ectior� 3714 of �hapter 3�', Ti�le 38, United States��d�. An autharr�e� �ransfer �"assurnp�ion") af tne �roperty sha�l also be subje�t �o ad��t�on�l covenants an� agreerr�ents as set forth belo�: �a}A��UMPT��N�F�ND�N�F�E� A fee equ�� o � D.5�°Io�of the bafance of this loan as of the date of transfer flf the p�roper�y shaii be payable a� the time of transfer to the Ioan hold�r or its authorized a�ent, as trustee for �he Department of Ve#erans Affairs. if the assumer fails to �ay this fee at the time of transfer, the fee sha�l cans�itute an additional debt �o that a�ready secured by this instrument, shali bear interest at the rate herein pro�ided, and, at the option of �he payee of th� Endeb#e�ness herehy secure� or �ny tr�nsferee th�reof, shall be irrirnediately due and p�yable. This fee is automaticaily v�►aived if the assumer �s exem�t under th� �ra�isions of 38 1J.S.�. 37�9 �c�, �h} A�S �11lPTl�N PR E �ll� �HAR�� p�n a��licativr� fo� approval to allov�► assumptivn of thi� Ioan, a �r�cessin� fee may be charge� by the laan holder or i�s authori�ed ag�nt f�� leterm�n�ng the c�editwv�t#�in�s� of the assumer an� su�bs�qt�e�t�� revis�r�g the ho�der's c��nership rec�rds �hen an appr�ved transfer is com�leted. The amount of th�� cha�ge s�a�� no� e�cceed t�e maxirn�m estab�is'�ed by the �ep�artment of Veterans Aff�irs for a �oan to which �ectian 3��4�f�hapter 37, Tit�e 38, llnited States �ode applies. �c� AS�U'MPTl�N iNi,]��I�ITY_'LIABIL!`f1�,: 1f tnis obligativn is a�sumed, then the assumer hereby agrees to assume alf Qf the obligat�ans of �he vetsran un�er the terms of the instruments crea�ing and securing the lfl�n. The assumer further agr�es t� in�emnffy the Departm�nt of Vet�rans Affairs to the extent �f any claim payrnent arising frnm the guaranty or insurance of the indebtednes�created by this insfirument. q4333�898537 �125 z?9 42U3 �� Initials: VMP�53gR �44�5�.�� Page�of 3