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��15��55 LATE CHARGE: At Lender's apt�on, Barrnwer w�� pay a "�ate �harge" no� exceeding faur per cen�um �4%} of�he overdu�pa�ment when paid m�re than �f�een ��5} days after �h� due da�� thereof to �over�he extra exp�nse in�ol�ed in handl�ng�e�in�uent pa�m�nts, but su�h "late�harge" shall not be payable au� �f the praceeds of any sa�e made to satzsfy �h� �ndebtedne�s s��ured her�by, un�ess such pr�ceeds ar� suf�c�ent�o d��charge the entire indeb�edness and al�proper�ost� and expenses s�cur�d hereby. GUARANTY: Should the Depar�ment of Vet�rans Affa�rs fail or refuse to issue its guaranty in fuli am�unt within �0 da�s from the date that th�s l�an would normally become �ligible for such guaranty committed upon b� the Department of Vet�rans Affa�rs under the pro�isions of Title 38 of the t�.�. �ode "'�'et�rans Benef�ts," �he Mor�gagee m�ay dec�are the indebtedness here�y secur�d a� on�e due and payab�e and may fore�iase �mm�diately or may �xerci�� any �th�r rights her�under or take any ath�r proper actzon as by law pr�v ided, TRANSFER C]F T�E PR�PERTY: Th�s �oan may be declar�� mmedia�e�y due and payab�e upon�ransfer of�he pr�per�y securing such loan ta any transferee, un�ess the acceptab��i��r of the assumpt��n nf t�e �oan is established pursuan��o Section 3714 of Chap�er 37, Titie 38, t�n�ted States �ode. An autharized transfer �"assump�ion"} of th� proper�y sha1� a�so be subjec� �a additional co�enants and agreements as s�t f�r�h bel��v: �a} ASSUMPT��N FUND�NG FEE. A f�e equa� ta one percent ��%}of the ba�ance�f th�s loan as of the da�e �f transfer af �he prop�rty sha�� be payab�e a� the ��me of transfer �� the Ioan ha�der or �ts au�harized ag�nt, as trustee for �he Departm�nt of Veterans Affairs. �f th� assumer fails ta pay �his f�e at �he �ime of transfer, �h� fe� shall cnns�itute an addi�ianal deb� ta that aiready secur�d by th�� nstrument, shal� bear �nt�res� at the ra�e h�re�n provzded, and, at the �ption of the payee �f th� indebt�dness hereby secured or an.y �ransf�re�th�re�f, sha��be immed�at��y due and payab�e. Thxs fee�s au��mat�ca��y wa�ved �f �he assumer is exempt under the pr��i�ions of 3 8 t�.S.�. 37�9 ��}. �b} ASSLTMP�I'IQN PR�CESSINC �HAR�E: Upan appl�ca�ian far appro�a� �o ailow assumption af this loan, a processing fee may be charged by the loan holder �r its authorized agent far determining �he creditwor�hiness of the assumer and subsequently re�ising the holder's ownership records wh�n an approved transfer �s comp�eted, Th� amount af�h�s charge shal� not e�ceed �he ma�imum es�ab�ished by �he Department of Veterans Affairs for a�oan�o which Sec�ion 37�4 of Chap�er 37, T�tle 38, Un��ed States C�de app��es. �c} ASSUMPT��N �NDEMNITY LIABILITY: If this obligati�n is assum�d, then�he assumer hereby agr��s �o assume all af �he ob��gat�ans af the ve�eran. und�r �he terms of �he �nstru�nent� cr�at�ng and secur�ng �he �oan. The assumer fur�her agrees ta ind�mn�fy the Depar�ment of Ve�erans Affairs ta �he e�tent �f any c�aim payment arising from the guaranty or insurance of the indeb��dness created by this instrument. �� ..�. fnit�a�s: �� � �-53�R �Q3Q1� Pag� � af 3 0