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2� 17��278 � . � . ; ; .. � ; � ; ; � LATE CHA.RGE: At Lender's option, Borrower will pay a"late charge" not exceeding F�UR per centum � ° (4.��%�af the a�erdue payment af principa�and interest when paid rnore than FIFTEEN�15}days aft�r the due date thereof to coWer the extra expense in�ol�ed in handling delinauent paymen�s,but such"late�harge" shal� not be payable out of the pr�ce�ds of any sate made to satisfy the indebtedr�ess secured here�y, UC11�55 such proceeds are sufficient to discharge�he entire indebt�dn�ss and all proper c�os�s and e�penses secured � hereby. � � GUARANTY: Should the Department of Veterans Affairs fai� vr refuse ta issue its guaranty in full amount � . within �0 days from the date that this loan would n�rmally �ecome eligible for such guaranty committed upon by the Department of Veterans Affairs under the pra�isions of Title 38 of the L]�.5. Code "Vet�rarl5 Benef ts," the Mortgagee may declare the indebt�dness herehy secured at once due and payable and may � fareclose immediately or may exzrcise any other rights hereunder or#ake any other proper activn as by law i � pro�tded. , TRANSFER �F THE PR�PERTY: This laan may be declared immediately due and payable upon transfer of the praperty securing such loan to any transferee,unless the acceptability of the assumption of the ' l�an is established pursuant ta Sectian 3714 af Chapter 37,Tit�e 38,United States Code. � An au�horized transfer �"assumption"� of�he praperty shall alsa be subject to additional caWenants and � � agreements as set farth bel�w: � �a} sslr.n�Tro�F�n��_F�: A fee equal to one-half of 1 percent�.5�%}of the unpaid prin�ipal � balance of this loan as of the date of transfer of the property shall be payable a�the time of transfer to the � � loan holder or its authorized agent, as trust�e for the Department af Veterans Affairs. If the assumer fails ta ' pay this fee at the time of transfer, the fee shall constitu�e an ad�itional debt to�hat already s�cured by this i ins�rument, shall bear interes�at the rate herein pro�ided, and, at the option of the paye�of the indebtedness � here�y secur�d or any transferee thereof, shall be immediately due and payable. This fee is automatically ! vvaiWed if the assumer is exempt under the pro�isi�ns of 38 U.S.�. 3729�c}. (b} : Upon application for appro�al to a�Iow assumptian �f this �aan, a processing fee may be charged by the loan holder or rts authorized agent for determinin� the creditwor�hiness of the assumer and subsequently re�ising the holder's ownership records when an appro�ed � transfer is compie�ed. The amount of this charge shall not exceed the rnaximum �stablished by the � Department af Veterans Affairs f�r a loan to vvhich Section 3714 of Chapter 37,Title 38,United States Code appl ies. �c} A, TION INDEMNIT�I�IABII�ITY: If this obligation is assumed, then the assumer hereby agrees t�assume all of the ob�igations of the�eteran under the terms of the instruments creatirtg and securing the Iaan. The assumer fucther agrees to indemnify th� D�partmen� �f Veterans �ffatrs to the extent of any claim payment arising from the guaranty or insuranc�of the indebtedness created by this instrument. VA Guaranteed Loan &Assumption Policy Rider � Page� of 3 �os,�n�. Borrower�s} Init�a�s � � � � � �