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2� 1 ��959 LATE �HAF��E: At Lender's �ption, Barr�wer will pay a "1a�e charge" not exceedfng f�ur p�r ce�ntum ��°��o} of th� over�ue �ayment v�hsn paid rnore than fifteen �1�� days affi�r �he due d�te there�f fi� cover the extra expense sr�v�l�►e� �n han�sin� �e�inquen� �ayments, but such "late charge" sh�� nat be payabl� vut af �he �r�c�eds c�f an� sa�e ma�e t� satisfy the in�ebtedness secured hereby, unless �uch proc�e�� are suf�ici�n� to ��scharge the entire indebtedness and all pr��er co�#s and expenses secured hereby. �LIARANTY: �h��ld the Depar�ment af Veterans Affairs fail or r�fuse to issue i�s �uar�nfy in fuff amoun� v��thin 6D days frr�m th� d��e fha� this I�an w�uld normall� become eli�ibie f�r such �uar�n'�y commit�ed u�nnn b}� the Departmen� of Ve�er�ns Affairs under the �rov�sions af T�t�e 38 of the L�.�. ��e "Veterans B�nefi�s," �he Mar�ga�ee m�y �ec�are �he indebte�ness he�eby secur�d at once �ue an� �ayab�e and r�a�� f�rec�ase imrned�atefy �r may exercise any �the�r�ghts hereund�er flr tak�ar�y other�r��er actic�n �s by �aw��ovi�e�. TRAN�FER�F THE PR�PERTY:This Ivan ma� be d�c[ared immediately due and payable upon transfer of th� pr�pert� s�curing such �oan to �ny �ransferee, unless the �cce�tabi�ity of the assum�tit�r� af the la�n is established pursuant to Secti�n 3714 of �hapter 3?, Ti�le 3$, U n ited �tates�od e. An authori�ed transfer �"�ssump�ion"} of th� proper�y shall als� be subject to ad�iti�nal covenants and agre�m�nts as s�t f�rth be�a�: �a��tJ�PT�C� FUNC�IN�FEE A �e� eq�al ta � �.�Q°Io�of the ba�ar��e of t�hi� R�an �s�f the�ate of transfer�f�he prv�erty shall be �ayabl� at �he �irne af transfer to the loan h�lder or its author��e� agent, a� trustee for �he Departrnent �f V�terans Affairs. If the assurner fails to pay this fee at th� time af fr�nsfer, the fee sh�ll constitute an ad�itional �ebt tv that already secured by this instrument, sha�i bear �nterest at �he rat� herein pro�ided, and, at the o�tion of the pay�e of the indebtedness hereby sec�red or any #ran�feree �hereof, shall be immed�a�ely due and payable, �"h��s fee is aut�m�tic��y waived if the assumer is e�cempt under the provi�ion� of 38 U.�.�. 3��9 tc}. �h� a,�S�lM�T�N _PF�C_,,,��E$�IN� �H�R�E U�on ��ication far appr��a� to alfv�v assump�ion �f this fo�n, a �r�cessing fee may b� charged by the I�ar� h�l�er ar �ts auth�r�zed agent far determining the creditworthines� of the assurner and subsequen�ly revis�ng the hofder`s awn�r�hip recor�� when an a�proved transfer is c�m�leted. The amount of th�� charge shall n�� e�c�eed the ma�cimum e�tablished b� the Department of Veterans Affairs for a ia�n to which �ec�'ron 3714 of�hapter 37, Titl� 38, United S#a#es��de applies. �c} �SSt�1�li?T�taN INDEiVIN�TY,LiAB1L1TY: if �his obligation is assumed, then the ��sumer here�� agr�es �o �ss�r�e �I! �f th� obligation$ �f the veteran under �he terr�s of the �nstrur�ents creat�n� �n� se�uring t#�e Ic�an. �fhe assumer further �gree� tv �ndernnify the Depar�ment �f Veterans Affa�rs to th� �xtent �f any �laim �ayrnent arisin�� from �ne �u�ran�y or insur�n�e of the indeb�e�nsss cre�ted by this instrument. q�336179z581 Q1�5 2�6 Q2Q3 lnitia . VMP�53$R �n44�}.a 1 Page �af 3