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��15�4547 LATE �HAR�E; At Lender's option, B�rrower wiff pay � "I�te char�e" not exceeding four �e� centurn �4°�Q� o� the v�e��ue �ayrnent vvhen �as� rn�re than f�fte�n �'f 5} �ays after the �ue date thereof tfl coUer the �xtra expense involved in handfing delinquent pa�ments, but such "late charge" shail not be payable ou� of the prviceeds vf any safe rriade to satisfy the �n�ebte�ness s�cured hereb�, un�ess such proceeds are sufficient tc� discharge the enti�e indebtedness and al� proper c�sts and expenses secur�d her�by. �UARANTY: Shoufd the Departrnent a� Veterans Affafrs fail or refu�e to issue its guaranty in fu�1 �rn�unt 1Ni�hln �� days �rom fihe date �hat this Ioan would nvrm�lly become elig�ble for such guaranty comrr�'rtted upon by the Departme�� f Veterans Affa�rs un�er the �rvv�s�ons of Title 38 of the LJ.�. �Qde "Veterans B�nefits," the M�rtgage� may declare �he indebtedness hereby s�cured at vnce due and �ayable and rnay forecfose irnmediately �r may exercise �ny o�her ri�hts hereunde�v�take any othe��ro�er�ctit�n as by 4av�p�avfd��. TRANSFERQF THE PR�7PERTY:This i�an may be declared immediately due an� payable upan transfer of the pra�erty securing such loan to �ny transferee, unles� the �cceptabifity of #h� assum�ti�t� af the �oar� is established �ursu�nt to Section 3714 of �h�pte� 37, T�tle 38, Ll n ited States Code. An authori�ed transfer �"assurnption"� �f the praperty shall alsv be subject to additional �ovenants and �greem�nts as set fivrth beiow: �a)A� LJ�1[PTI N FUNDIN�FEE A fee equal to � �.5�°/0}o�the balance af this �oan as af the�at�of transfer of th� property snali be �ayable at the time of transfer ta the Ioan hofder or its autho�ized agen#, �s trustee for the Depart�ent of Veterans Affairs, Ifi the assurner �aifs to pay this fee �t �he time of transfer, the fee shall constitute an a��ItiDnal d�� t� th�t aIl'�a�Y S�GLIreC� b}I f�if5 instrument, shal� b�ar inte�est at the rate herein provi�ed, and, at the option of the payee of the in�ebte�ness hereby secur�d or ar�y transferee thereaf, shali be imrnediately due and payable. This fee is automatically vvai�ed if the assurner �s exempt un�er the �rQvis�ons of 38 U.S.�. 3729 �c}. (b} ASSUMPTI�N, P1��ES�1N�,�HAR�E Upon ap�lication far a�pravaf to aliow a�sum�tion of �his �oan, a pracessin� fee rnay be c��rge� by the 4oar� ho�der or its authorfzed agen# fvr determining �he cre�itw�rthiness of the assumer and subsequently re�i�in� the ho�der's ownership records when an approved transfer is corn�le�ed. The �maunt of this �ha�ge sha�� no� ex�ee� the maxirnurn established by the aepartrr�ent flf V�terans Affairs �o� a Ioan fo which Section 3714 af�hapf�r 3?, Title 38, United State� Cade applies. �c� ASSI�MPTiQN IND�MNITY LlAB,I,LITY: If this flhligation is assumed, then the assurner hereb� �grees to assurr�e all of th� obii�atians af �he veteran un�er the terrns af fhe instrurnents cr�a�ing and securin� the la�n. The assurner furth�r agrees to indernn�fy the Department of Veterans Affairs ta the exten� of any clairn payment arising from the guaranty or insurance of the indeb�edness cre�ted by this instrument. q�33414486�1 �1�5 322 O�Q3 ��'14�1��5: VMP�-538R ��405}.q 1 Page�of 3