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I � I ��15�1�9� , LATE �HARGE: At Lender's option,Borrower wil�pay a"�ate charge"not exceeding F�UR per centum (4.��Q%�of the��rd�.e payment of principal arid int�rest when paid more than FIFTEEN(15}days af�er th� due dat�there�f to co��r the extra expense invai�ed in handling de�inquent paym�nts,but such"lat��harge" shal�not be payable�ut of the pro�eeds�f any sa1�made ta sa.tisfy the indebtedness secured hereby, unless such proceeds are su�cient to discharge the entire indebtedness and all proper costs and expenses secured herehy. . � GU ; Should the Depar�ment of V�terans Affairs fail ar refuse to issue its guaranty in full amour�t within 5D days from the date that this loan vWould n�rma��y became eligible for su�h guaranty committed upon by the Depart�nent of Veterans Affairs under the provisions of Title 3 8 of the U.S. �ode "Veterans Benefits," th� M�rtgagee may dec�are the �nd�btedness her�by secur�d at once du� and payabl� and may foreclose immediately or may exercis� any other rights h�reunder�r take any other proper action as by lavv provided. TRANSFER �F THE PR�PERTY: This loan may be declared immediately due and payable upon t�ansf�r of the property securing such loan to any transf�ree,unless the a�c�ptabil�ty of the assumption of the loan�s estahlish�d pursuant to Section 3 714�f Chapt�r 3 7,Titl�3 8,Un�t�d States Code. An auth�rized transfer �"assumption"} af the property shall a�so �e subj ect ta additi�nal �o�enants and agreements as set f�rt�below: �a� : A fee equal ta one-ha.If of 1 percent(.5�%}of th�unpaid principal balance of this loar� as of the date of transfer of th� prop�rty sha�l be payable at the tim� of�ransfer to the loan holder or�ts authorized agent, as trustee for the Depar�ment of Veterans Affairs. If the assumer fails to pay this fee at the tim� �f transfer,the fee shall constitute an additiona� debt to that a�ready secur�d by this inst�urr�ent, sha1�bear int�rest at the rate herein prov�d�d,and,at the optian of�he payee of the indebtedness here�y secured or any transferee thereof, sha11 be immediately due and payable. Thi.s fee �s automatically wai��d if th�assumer is exernpt under the pr��sions of 3 H U.5.�.3 729�c}. (b} : Upan app�ication f�r appra�al ta a11ow assumption of this ��an, a processing fee may be charged by the �oan ho�der or its autharized agent for determining the creditworthiness of the assurner and subsequently re�is�ng the h�lder's ownership re�ards vvhen an appro�ed transfer is completed. The amaunt vf this charg� shall nat exceed th� maximum estab�ished by the Department af Veterar�s Affairs far a Ioan to whi�h Sectian 3 7�4 of�hapter 3 7,Title 3 8,United States�ode applies. �� : If this �b�igation �s assumed, then the assu.mer hereby agre�s t� assume a11 of the obligations of the v�teran und�r the terms of the instruments creating and se�ur�ng the �oan. The a�sumer fur�her agr�es to indemnify the Depar�ment of Vet�rans Af�au�s to the extent of any claim payment ar�sing from the guarar�ty or insurance of the indebtedness�r�ated by th�s instrument. VA Guaranteed Loan &Assumpti�n Po��cy Rider Pa�e� of 3 �os,��. Borrower�s} Initials � C��