201407074 - Laserfiche WebLink

Browse

��14�7�74 LATE �HARGE: At Lender`s o�tion, B��rawer w�IC �ay a "iate �harge" not exceedin� f�ur per centum �4°/0} of t�e averdue payment when paid m�re than fifteen �1�} days after the due date thereof to �over the ex�ra expense �nvolved �n handiing delinquent payment�, but such "late charge" s�af� nflt be �ayable ou� of the ��oceeds of any sale made to satisfy the in�ebtedness secured hereby, unless such proce��s are sufficient to disch�rge the entire indebte�n�ss and all proper casts and expenses secured hereby. �UARANTY: Should the Depar�rnent of Ve�erans Affairs fail or refuse to issue its gua�an�y in ful� amoun� within �4 d�ys frorn the date that th`rs loan would norrna�ly becom� e�igibie fQr such guaranty commi�ted u�Qn by the Department of Veterans Affairs under #he provisi�ns of Title 38 of �h� u.5. �ode "Veterans Benefi�s," the �Iliartgagee rnay declare the indeb�edness hereby secured at once �ue and payable and may forec�ose immedia�e�� or may exerc�se an� other rights hereun�er or take any other proper ac�ion as by law provided. TRANSFER�F THE PR�PERTY:This �flan may be declared �rnmediately due an� payabie u�vn ��ansfer of the praperty secur�ng such loan to any transferee, un�ess the ac�e�tabi�ity af the assum��on of the �oan is establishe� pursuan� to Section 3714 of Chap#er 3�, Title 38, lJnite� States Code. An authvrized transfer �"assurnpti�n"} of the �rflperty sha�� aisa be subject to additi�nal cavenants and a�reements as set f�rth be�o�: 4a} ASSUMF'TI�N FUNDifV�FEE A fee equa! to � D.5Q°Io}af the balance of this loan as of th�d�te of�ransfer of�h� prope�y sha�� be payabie at the t�me of �ransfer to the loan hol�er �r its auth�rized agent, as t�ustee for the De�ar�ment of Veter�ns Affairs. !f the assumer f�ils to pay �h�s fee at the �ime vf transfer, the fee shall constitu�e an a�ditivnal debt to that a�ready secured by this instrurnent, shal� bear inte�est at �he rate herein �rovided, and, at the option af the �ayee of the indebtedness hereb� secured �� any transferee there�f, shall be irnrnedi��ely due and payable. This fe� is au�Qrnat�cally vWaive� if th� assumer �s exem�t under the pro�risions af 3$ l�.S.C. 3729 �c}. �b} ASSUMPTI�N PR��ES�lN� �HAR�E Upon appl�cati�n for approva� to ali�w assump��on of �his Io�n, a pracessing fee may be char�ed by the f�an halder or �ts author�zed agent for determinir�g the creditw�rtF�iness af �he assumer and subsequently rev�sing �h� holde�'s o�vnership records wh�n an a��r�ved transfer is cornp�eted. The amount �f �h�s charge shall not �xcee� the max�rnum establ�shed by the De�artmen� of Veterans Affa�rs far a �oan to which Sec#ion 37�4 of�hapter 37, Tit�e �8, united 5tates �ade applies. �c} ASSUMPTiC7[V �NDEMIVITY LIAB,ILIT1�: If fh�s obligation is assumed, then the assume� hereby agrees t� assume all of the obligati�ns of t�e veteran unde� the terms of the �nstrumen�s creat�ng an� securin� the loan. The assumer further agrees to in�emnify the Depa�tment c�f Veterans Affairs to the extent of any claim �ayment arising fr�m the guar�nty or insurance flf the in�ebtedness created by this Enstrumen�. q4333377�$39 4125 241 Q��3 � L'�� r Initials: � V�IP°-�38R �U4�5}.�1 Page�of 3