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��14�7443 � LATE �HAR�E: At Lender'� optian, B�rr�wer v�il! pay a "late charge" nat ex�eeding four �er centum �4°/0} of #he overdue �ayment when �aid more than fifteen �15� days after the du� �ate #her�of to cover the extra expense invo�ved in handling delinquen# payments, but such "late charge" shall not be p�yable out of �F�e pro�eeds of any safe made t� �a��sfy the indeb�edness secured hereby, un�ess such �roGee�s are suffi��ent to dischar�e the entire indebtedness an� all proper casts and exp�nses se�ured hereby. GUARANTY: �hQul� t�e Qepartm�nt of Veterans Affairs fail or refuse ta issue its guaranty �n full amaunt wi�hin �� days from the date that this loan would normally become eligible for such guara�ty ��m��e� upo� �y the I�e�arkr�ent o� l�eterans Affairs ur��er the �rovisi��s Qf T`rt�e 38 of �he U.S. �ode "Veterans Benef�ts," the IUl�rtgagee may de�lare the indebtedness he�eby see�red at once due and �a�ab4e and may forec�o�e �rnmediate�y or may exerc�se any oth�r rights hereunder or take any�ther�raper actian �s by �a►��rovide�. TRAI��F�R��THE PR�PE'�T1�:T'h�s �aan may be dec�ared immed�ate�y due and payab�e upon transfer of the �ro�erty securing such loan to any transferee, un�ess th� acce�tabifity af the assumption of #he loan is estab��shed pur�uant #fl Sectian 3714 of �hapter 37, Title 38, United S�ates Code. An au#horized transfer �"assumpti�n"} of the property sha�� also be su�ject to �dditianal covenants and agreements as set forth below: �a} S�UMPT� N F ND�N�FEE A fee equal to � Q.5Q°Io}�f the balan�e of�his loan as of the da�e of transfer of the pra�er�y shall �e payable at the time af tr�nsfer t� the Ioan holder or its authorized agent, as �rustee f�r the Department of llet�rans Affairs. tf the assumer fails to pay this fee at the t�me of transfer, the fe� shall c�nsti�ute an addit�onal deb� to that �Iready secured by this Enstrument, shall bear in��rest at t�� at� �erein pr�vi�e�, an�, at the ��tian �f the �ayee of t�e 'rn�ebtedness hereby seGured or any transferee thereaf, �hall be immediately due and payabfe. �h�i� fe� �� au�omat��alsy waive� if the assumer �s �xempt under the provision� of 38 U.S.�. 3��9 �c}. �b) �►S��MPTla1� PR,��ESSIN� �HA�• Upon app��c�tion for approv�l to allo�v assurnpt'ron of this loan, a p�ocess�ng fee may be charged by the loan holder or its au#horized agent for determining th� creditworthiness of �he assumer and subsequen�ly revis�ng the holder's ownership recards when an appr�ved transfer is corn��eted. The am��n� of this charge shall n�t excee� the rrtiaximurn established by the Deparkrnent of Veterans Affairs for a ��an to which �ection 3714 of Chap�er 37, Title 38, United 5tates �ode applies. �c} A lI�PTI N lNDEMNITY LIAB�LITY: 1f this obli�ation is assumed, then the assumer hereb� agrees ta assume ali of the obligati�ns of the veteran un�er the term� of the �nstruments creating and s�cur�ng th� loan. The assumer fur�her agrees ta indemnify the � Department of V�terans Affairs to th� exten� of any cfa�m paym�nt arising from the guaranty ; or insurance�f the indebte�ness created b�this �n�trurnent. � q�3�33824714 4125 3�� 243 I nitials: �� VMF'��53�R �fl4�5�.�� Page 2�f�