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2� 15�79�� LATE �HAR�E: At Lender's opti�n, Barr�wer ►��I pay a "late charge" not exceeding fflur per �cent�r� �4°I�} of the o�erdue pa�rnent when paid r�ore than fifteen �35} �a�s af�e�- ��e due da#e th�renf ta �o�er the extra expens� invol�ed in handling �elinquen� payments, but such "late charge" shal� not be payable out of th� proc�eds of any s�fe made to satisf� #he indeb�edne�s secured h�reby, unless �uch praceeds are suff�ient to discharge the ent�re �ndebtedness and all pro��r costs and expenses secured hereby. �L�ARANTY: 5hou�d the Departrrfent �f Vet�rans Affairs faif or refuse to issue ��s guaranty in ful� amount w��h�n �� d�ys fram t�e �a�e t�a� fh�s �Q�n ►rvould normally b�come eligible for such guaran�y committed upon by the �epartment of Veterans Affairs under the pr�visi�n� of Title 38 of the LJ.S. Code "Veterans S�r�efits," the �Illortgagee may de�lare the ind�btedness hereby secured at once due and payable and rnay fareclose immedia�ef}r or may ex�r�ise any ather righ�s hereunder or take any other proper act�on as by law prov�ded. TRANSFE�QF THE PR�PERTY;This I��n may be decl�red irnrnedia�e�y due an� �ayable upvn transfer of the prvperty secur�ng such lvan t� any transfer�e� unless the acce��ability of the assump�ion of the Ivan is establ'rshed pursuant t� �ect�on 3714 of �hapter 37, Title 3$, U n ited States��!e. An authorized transfer �"assumpti�n"� of the �ro�erty shall also be subject ta add�tianal coven�nts and agreements as set fnrth below: �a}A �L1MPT1 N FUNQIN�FEE A f�e equal #o � �.��°/�}of the balance of this lo�r� �s nf the da�e�f�ransfer of the praperty shall be payable at the #ime of �ransfer to the loan hald�r or its authorized agent, �� trustee for the Departmen� of Veterans Affairs� If the assumer fails to pay this fee at the time of �ransfer, the fee shall co�s�itute an add��Qna� debt tfl �hat already secure� by this instrument, shall bear in�erest at the rate he�ein provi�ed, and, at the option �f the pa�ee �f the indebtedn�ss hereby secured ar �ny transferee thereof, sha�� be irnmedi��ely due �n� payable. This fee is automati�ally wai�ed if the assumer is exem�t under the provisi�ns of 3$ U.S.C. 37�9 �c}. �b} A�SUMPTI N R� E SING HARG� Upon ap�licat�on f�r ap�r�vai to ai�ovv assum�t�on of this ioan, � processEng fe� rnay be �har�e� by �he loan halder or its authorized agent fQr det�rm�n�ng the cred�tw�rthiness s�f the assurr�er and subsequently revising the hoider's oWvnership re�or�s v�hen an ��proved transfer �s complet�d. The amount af this charge shall nfl� exceed �he maximum es�ab�ished by the D�partment �f Veterans Affairs for a loan ta which Secti�n 3714 af Chapter 37, Title 38, Un��ed �t�tes�ode ap�fi�s. �c} A,��MPTIqN INDEMhIITY LIABILITY: lf this obligatifln �s assumed, then the assumer hereby agrees to assume all �f the abligations of the veteran under �he terms of the instruments creating and s�cur�ng the la�n. The assumer further �grees tv ind�mnify �he Departrrient of Veterans Affairs �a the extent of any claim paymen� arising from the guaranty or insurance of the indebte�r�ess created by�his instrumen#. q�3347141�54 0125 443 U��3 In�tial5: � vMP��3sR �04�5}.�� Page�of 3