201603156 - Laserfiche WebLink

Browse

2� 1 ��315� LATE �HARGE: At Lend�r's apti�n, B�rrower will pay a"la��har�e"not exceeding F��.JR per�en�um (4.D��°/a}of the a�erdu�payment o�principal and interest vvhen�aid more than FIFTEEN�1 S�days after�he due dat�t.�ereof to cover the extra expen�e in��l�ed in handlin�delinquent payments,but such"late charge" shall n��be payable out�f the pr�ce��s af any sale made to satisfy the indebtedness secured h�reby, un�ess su�h prnc�eds are sufficien�to diseharge the entire indebtedness and a�� ro�er costs and e�penses se�ured her��y. �UARA�TY: S�iauld the Depar�men�of Ve�erans Affairs fail or r�fus�to��su�its guaranty in fu��amount within �� days from the date that this loan v�ould �ormally bec�me �ligible for such �uaranty c�mmitted upon by �he D�pa�rtmer�t of Ve�era.ris Affairs under the prQ�isio�s o�Title 38 �f the t�.�. Code "V�terans B�n�f�ts," xhe Mortgagee ��.y dec�ar� the inde�tedness her�by secured at once due and pa}�able and may foreclo�e i�x�►mediately �r may exerci se a.n.y other rights hereund�r ar take any other proper ac�ion as by law provided. TRANSFER �F THE �'1��]PE�TY: This loan may be dec�ar�d imm�diately due and �a}�able upQn transfer�f the property securit�g su�h 1�a�to any transferee,unl�ss the acceptability of the assumptian of the loan is estabiished pursuant t�Sec�ion 3 7�4 of�hapter 3?,Tit��LJnited S�ates�od�. An aufh�rize� transfer �"assurnption�'} of the prop�rty shall also be subject t� add�txanal c��enant�s and �gre�men�s as se�f�rth be�avv: �� ASSI� . TION FITNDTN��'E�:A fee equal fa one-half of� percent(.5U°Io}of the unp��d p��ncipal b�l�nc� of this loan as of the d�.�� of transfer af the pr�per�y sh�ll be payable at the time �f transf�r to the �oan holder�r its authnrized��ent, as trustee for the I]ep�r�ment of V�terans Affairs. �f�he assumer faias to pay this fee at the time �f firansfer, �he fe� shall constitute an ad�itiona� debt t� that alr�ady se�ured by�his i�nstrum�n�, shall bear in�eres��t t�e rate herein provi�ed, and, a��he o��ion af th�payee of the ind�btedn�ss h�r�b� s��ured or any transferee thereaf, �hall b� immedia.tely due �nd payable. This f�e is aut�mati�al�y �vai�ed if the assum�r is exempt und�r the provisions of 3�U.5.�.3 7��c). �b} : Up�n applicatian f�r appro�al to a�lo� assumption of tih�s l�an, a pr��essir�g fee may he charged �y the Zoara hold�r or its auth�rized ag�nt f�r deter�x�iflirig the cr�ditworthiness of the assum�r and sub�equently revisin�the holder's ownership recards when an appraved transf�r is ��mpleted. The amount af this charge shall not exc�ed the maximum established by the Depar�m�nt of Veterans Affairs far a loan�o which Section 3��4�f�hapter 3 7,T�tle 3$,United S�ates C�de applies. �c} ASSIJMPTI�N TNDF�� RTC.TT'Y: If this o�lig�.tion rs assumed, thefl the a.�sumer h�reby agrees tQ assume a�l af the oblig��ions of the�e�eran under the�erms of th�instruments cr�ating and s�Guring �he Ioa.n. Th� assumer fur�her agr�es to ind�mnify the I3epartmen� a�'Veterans Affairs �o the e�t�nt �f any �laim pa��x�.ent�.rising fram�he guaranty or ir�surance�f�he in�ebtedn�ss crea.��d b}�t�iis inst�um.�nt. VA Gu�r�nteed Loan &Assumption Policy Rider Page� of� ��s��ri�. Barrow�r�s} I nifiials