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2� 15�7974 7132132775 944853 Qt�'l�t 1I75tI'L1I17�I7tS �X�CL1t�C� lI7 CDI7I7�Ct1QI7 Wlt�'l Sa1C� lI7C��7t�C�I7�55 W�"I1C�"1 aI'� lI7CUI7S15t�I7t Wlt�"1 Sa1C� Title or Regulations, including, but not limited to, the pro�ision for payment of any sum in connection with prepayment of the secured indebtedness and the pro�ision that the Lender rnay accelerate payrnent of the secured indebtedness pursuant to �o�enant 1 S of the Security Instrument, are hereby amended or negated to the extent necessary to conform such instruments to said Title or Regulations. LATE CHARGE: �t Lender's op�ion, Borrower will pay a "Iate charge" not exceeding FOU� percent�4.��°/o} of the o�erdue payment when paid more than F I FTEEN (15} days after the due date thereof to co�er the extra expense in�ol�ed in handl ing del inquent payments, but such "late charge" sha11 not be payable out of the proceeds of any sale made to satisfy the indebt�dness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and al� proper costs and expenses secured hereby. GUARANTY: Should the Department of Veterans Affairs fail or refuse to issue its guaranty in full arnount within 6� days from the date that this loan would normally becorne eligible for such guaranty committed upon by the I3epartment of Veterans Affairs under the pro�isions of Tit1e 38 of �he U.S. �ode "Veterans Benefits," the Mortgagee rnay declare the indebtedness hereby secured at once due and payable and may foreclose immediately or may exercise any other rights hereunder or . take any other proper action as by law pro�ided. TRANSFER aF THE PRaPERTY: This loan rnay be de�lared irnrnediately due and payable upon transfer of the property securing such loan to any transferee, unless the acceptability of the assumption of the loan is established pursuant to Section 3714 of�hapter 37, Title 3S, United � States �ode. An authorized transfer�"assumption"}of the property shall al so be subj e�t to additional covenants � and agreements as set forth below: (a}ASSUMPTI�N F[JNI3ING FEE: A fee equal to one haIf of one percent�4.5�°l}of the balance of this loan as of the date af transfer of the property shall be payable at the time of transfer � to the loan holder or its authorized agent, as trustee for the I3ePartment of Veterans Affairs. If the assumer fail s to pay this fee at the tirne of transfer,the fee shall constitute an additional debt to that _ already secured by this instrument, sha11 bear interest at the rate herein pro�ided, and at the option of the payee of the indebtedness hereby secured or any transferee thereof,shall be irnmediately due ; and payable. This fee is automatically wai�ed if the assumer is exempt under the pro�isions of 38 - U.S.�. 3729 (c}. �b} ASSUMPTI�N PR��ES SING �HARGE: Upon appl ication for appro�al to a11ow assumption and transfer of this 1aan, a processing fee may be charged by the loan holder or its authorized agent for determining the creditworthiness of the assumer and subsequently re�ising the holder's ownership records when an appro�ed transfer is completed. The amount of this charge shall not exceed the rnaximum established by the Department of Veterans Affairs for a loan to _ which Section 3714 of�hapter 37, Title 38, United States Code applies. � �c} ASSUMPTI�N INDEMNITY LIABILITY: If this obligation is assurned, then the � assumer hereby agrees to assume all of the obl igations of the �eteran under the terms of the instrurnents �reating and securing the loan. The assurner further agrees to indernnify the - VA GUARANTEED L�AN AND A55UMPTI�N P�LI�Y RIDER � 53.18 Page 2 vf 3