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��14�77�1 LATE �HAR�E: At Lender's opti�n, Borrower will �ay a "late charge" not excee�ing four per centum �4°1v� nf the overdu� �aymen�t when �a�d more th�n fifteen �15} days afte� the �ue date thereof �o cover the extra expense in�olve� in handling de�inquent �aymen�s, but such "�ate charge" sha�l no� be p�yab�� out of the �ro�eeds nf �ny sale ma�e to sat�sfy fhe in�ebte�ne�s �ecu�e� h�re�y, c��ess su�h �r�cee�s are sufficient ta discharge the entire in�ebtedr�ess and all proper cos�s and expense�secured hereby. GU�RANTY: Shvuld the De�ar#ment of Veter�ns Affairs fail �r refuse to issue its guaranty in full amount �rv�t��n �� days from �he �ate that fhis I�an �rould n�rma�ly became eligible f�r such guar�nty comrnitted up�n by the Department �f V��erans Affairs under �he pro�isions nf T�tle 38 of the U.�. �c�de "Ve�erans Bene�ts," �he Mortgagee may declare the in�ebtedness hereby s�cu�ed a� once �ue and payable and may for�close immediateiy �r m�y exercise any other righ�s hereunder or take any flther praper ac�ion as by law�ro�ided. TRANSFER�F THE PR�PERTY:T�is loan rnay be declared �mmediately due and payable upon transfer of the �roperty securin� such laan to �ny transferee, un�ess the acceptabifity �f the assurnpt�on of the �oan is estab�ished pursuant ta Section 3714 of �hapter 37, Title 3$, United States Code. An authorized transfer �"assumptian"� of #he �roper�y shall als� be subject fa additivnal covenants an� agreernents as set for�h belo�v: �a}AS,SI�PTIaN_Fi�ND�N�FEE A fee equal to � fl.SQfl/o}of th�e ba�ance of th�� foan as of the date of transfer of the �roperty shall be �ayab�e at �he tirne flf transfer #� the loan holder or its auth�rized agent, as trustee for th� Department of Veterans AfFa�r�. lf the assumer fails tv �ay this fee at the time of transfer, th� fee shal� �onsti#ute an ad�itian�! debt fo that already secured by this instrument, shall bear interes� at the rate herein provided, and, at �he �pt�on of #he p��ee vf the i�ndebted�ess here�y secured or a�� tr�nsfer�e there�f, sh�ll �e �mme�iate�y �ue an� �ayable. Th�s fee is aut�rnat�ca�ly waived �f the assumer is exempt under the pr��isions vf 38 U.�.�. 3729 ��}. tb} A��UII�PT��'N PR��E$S��I��HAl�G� Upon app�icatit�n f�r approval to allow assumption of this loan, a processing fee may be charge� by the Ioar� halder or �ts authorized agent f�r determining #he creditwar�h'rness �f the assumer and subsequen�fy re�isin� �he h��er's �wnershi� rec�rds �nen �n appraved transfer is completed. The amoun� of �his charge shall not excee� the rrtiaximurn established by the Departrnent of Ve�erans Affairs f�r a Ioan tfl�hich �ection 3714 of�ha�ter 37, Tit�e 38, Uni�ed State��ode applies. �c3 A,,,�I�MPT��NDE�N�TY L�A8iL1TY: lf fihis obli�ation is assurne�, #hen the a�sumer hereb� agrees to assume all of the �bligations of the veter�an under the terms of the ins�ruments cre�t�ng and se�uring the lnan. The a�sumer further agrees to indernnify the Department of Veterans �ffairs ta the extent �f any claim �aym�nt arising fram the guaranty or insurance�f the indebtedness created by this ins#rument. q�3335�94711 �125 240 Q2�3 �t'll�l��5: �� VMP�538R ��445}.�� Page 2 of 3