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2� 17��599 LATE CHAR�E:At Lend�r's opfion, Borrawer w�ll pay a "late charge" not exceeding fQur per �entum �4°Io3 vf #he vverdue �ayment when paid m�re �han fif�een �15} days after the due date there�f to c�ver the extra ex�ense involved in handling delin�uen� payments, but such "late charge'� shall nof be payable out of the proceeds of any sale made t� 5��15f]I the indebtedness secure� hereby, unless �uch �roceeds are sufficient to dischar�e the entire �ndebtednes� and �I! p�oper�vsts and expens�s secured hereby. �UARANTY: �hauld the ❑epartrnen� c�f Veterans Affairs f�il or refuse �o iss�e it� gua�anty i� full arn�unt within 6� days from the date that this lvan would norrnafly bec�me eiigible f�r such guaranty committed upon by the C�epartrnent �f Vete�ans Affairs un��r the pr�vis��ns of Tit�e 38 of the 11.�. Code "Veterans Benefits," the Martgagee rnay deciare the �ndebtedness hereby secur�d at once due and payab�e and may foreclose immediately or rnay exercise any �ther right� hereunde�or take any other proper actian as by!aw p�avided. TRAN�F�F�QF THE PRQPERTY:Thss ��an may be declared imme�iately due ar�d payab�e upvn transfer of the praper�y securing such I�an to any transferee, unl��s the acceptability �f the assumption of �he loan is �stabiishe� pursuant tv Section 3714 of Chapter 37, Title 38, Uni#e� 5t�tes �ode. An authariz�d transfer �"assump�ion"} �f the property shall alsv be subje�t to additianal covenants and ag�eements as set f�r�h below: �a} NIF'T N � A fee equa� to � 0.5�°Io}of the balance of th�s I�an as of the date af transfer nf the ��operty shall be payable at �he tirne of transfer to the I�an holder or its �uth�rized agent, as trustee for the De�artmenf of Veterans Affa�rs. If the assumer fails to pay this fee at the time �f t�ansf�r, the fe� sha�l c�nstitut� �n �dditi�n�l d�bt to �h�t �Irea�dy secured by this instrument, shail bear inte�est at the rate herein provided, and, at the option of the payee of the indebtedn��s hereby secure� �� an� �r�nsferee thereaf, sna11 be imrnediately due and payable. This fee is autvma�ically wai�ed if the �ssumer is sxempt und�r the pr�vis��ns flf 38 U.S.C. 37�9 �c}. �b} A��lMPT��I�,,,_PR�,�$,�I,N�_,�,_H�RGE L1pon application for ap�raval to allow assurnpfi�n gf this Ioan, a proce�sing fee may be charged by the Iflan h�lder or its aufhorized agent fflr deterrnining the creditwor�hiness �f the assumer and su�sequentiy revising the ho�der's +awnership records w�en an appr�ved �rans�er is complete�. The amvunt of this charge shall n�t exceed �he maxirnum established by the De�artment of Vete�ans Affairs fvr a �oan to which Sect�vn 3?14 af Chapter 37, Titie 38, Unite� States �ode applies. �c} �$� M � �N��MNITY, LIABI�,ITY: If this o�ligation is assume�, then the as�umer hereby agrees to assume al! of the obligatiQns of the veteran under the �erms af the instruments creating and securing the loan, The assum�r further a�rees to in�emnify the Depar�ment v� lleterans A�fiairs t� the extent of any claim pa�ment arising from the guaranty or insuran�e af the indebtedness created by this instrumen�. q0 3G 9 91 1 5 44 r � � � Init�als: � VMP�-53$R �Q4�5}.�1 Page �nf 3