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2� 1 ��8727 LATE CHAR.GE: A� L�n�er's �p��on, Borr�wer wil� pay a "�at� charge" not �x�eeding faur per �en�um �4%} af the �verdu�pa�ment when paxd more than fifteen �I S} days after the du��.a�e�hereof t� cover th� e�tra expense in�rolved in hand��ng de��nquen�payments, bu� such "�a�e charge" sha�� not be payab��out of the pr�ceeds of an}� sa�e made to satzsfy �he indebt�dness s�cured here�y, un�ess su�h prac�eds are suf�cien��o disc�arge the entire�nde�tec�ness and a1�proper cos�s and e�penses secured hereby. �UARANTY: Sh�uld��Depar�m�nt of Vet�rans Affa�rs fail or refuse to issue i�s guaranty in full amour�t � wi�hin 6� days frnm �he date tha� this �oax� wou�d norma�l� bec�me eligible f�r su�h guaranty committ�d upon by �he Depar�ment of Vet��ans Affairs un�er the provisians of Ti�le 3 8 of�he U.�. Code "Veterans �enef�ts," the Nlortgagee rnay deClare �he �ndel�tedness here��r secured a� onCe due and pa�able and ma�r forec�ose�mmediateiy or may �xer��se any�ther rig�ts hereunder or take an� other prop�r action as by �aw prav�ded. TRAI�SF�R�F T�E PR�PERTY: 'I'��s��an may be dec�ared �m.med�a�e��due and pa�ab�e upon�ransf�r of�he prop�rt� secur�ng such �oan tv any tran�feree, unless the acceptab��r of�he assumpt�on. of th�Ioan is es�ab�ished pursuant�o�ec�ian 37�4 of��apter 37, Title 3$, Un��d Sta�es�ade. An authorxzed transfer �"assumpt��n"� of the pr�perty shall a�sfl b� subject �o a�d�tzona� co��nants ar�d agr�emen�s as s�t forth be�ow: �a} ASSUMPTI�N FUND�NC FEE: A fee equal ta�ne p�rcent�1%�af th�balan�e�f th�s loan as of the date of �ran�f�r �f �he pr�per�y sha�� e payab�e at �he txme of transfer t� th� �oan ho�der or its autharized agent, a� trus�ee for the Department of V��erans Affa�rs. �f�he assumer fa��s �� pay th�s fee a� �he time of transfer, th� fee sha�� cons��tu�e an additional de�t to tha� already secured �y this zns�rumen�, sha�l bear in�eres� at �he ra�e here�n prov�d�d, and, at the apt�on of th� payee af the �ndebtedness h�reby secured or any transferee there�f, sha�� be immedxa�ely due and payable. This fee is automatically v�aived if �he assumer�s exemp�under the pr�vis��ns of 38 U.S.C. 37Z9 �c}. �b} ASSUMPT��N PR��SS�N� �HAR�E: Upon applxcation far apprflva� to a�low assumpt�an of th�� Ioan, a pracessing fee may be Charged by �he I�an ha�d�r or �ts au�hor�zed agen� for d��rm�n�ng th� creditw�rthiness �f �he assumer and subsequ�n��y re�ising the ha�der`s own�rsh�p r��ords wh�n a� appro�e� transfer zs comp�eted. The amount of th�s charge shall not e�ce�d the maximurn �stablished �y �he Department of�l�terans Affairs for a loan�o wh�ch S�c�ion 37�4�f Chap��r 37, T�ti�38, Un�ted S�a�es �ode app��s. �c} ASSUMPT�C]N�NDEMN�TY L�ABIL�TY: �f th�s��gat�on i� a�sumed, �h�n�he as�umer hereby agr�e� to assume aI� �f th� ob��ga�zons af th� veteran und�r th� terms of th� �ns�ruxnen�s �reating and securing the �oax�.. Th� assumer further agrees �� indemnify the Depar�nlen� �f Veterans Affa�r� �� e extent of any c�a�m paymer�t ari�ing from �he guaranty or insurance of the indeb�edness creat�d �y this ins�rument. � I InitlalS: �-538R {a3o 1} Page 2 of 3 �