201702250 - Laserfiche WebLink

Browse

2� 17�225� LATE �HAR�E: At Lender`s opt�on, Barrower will pay a "late char�e" not exceeding fvur per centurn �4°Io} of the overdue payment when paEd more than fifteen �15} days after the due date thereof ta cover the extra expense �nvo�ved tn handling delinquent payments, but such "late charge" shall not be payable out of the proceeds �f any sale rnade to satisfy the indebtedness secured hereby, unless such procee�s are sufftcient to discharge the entire indebtedness and all pro�er costs and expenses secured hereby. �L�AF�ANTY: Should #he Departmen� of Veterans Affairs fail or refuse to issue its guaran#y in fuii amount within 6� days fr�m the date thaf this Ioan would normally becorne eligible for such guaranty cammitte� upon by the aepartrnent of Veterans Affairs under the prov�sions of Title 38 of the U.S. Code "Veterans Benefits," the Mortgagee may declare the indeb�edness hereby secured at once due and payab�e and may foreclose immediately or may exercise any other rights hereunder or take any other proper action as by iaw prov�ded. TRANSFER�F THE PR�PERTY:This loan ma� be declared immediately due and payable upon transfer �f the proper#y securing such Ioan to any transferee, unless the acceptability of #he assumption of the Ioan is estabiished pursuan� tn Section 37�4 of Chapter 37, Title 38, U n ited States�od e. An authorize� transfer �"assurnption"} of the �roperty shall also be subject to additional covenants and agreements as set forth below: �a}ASS,UMPTI�N FUNDING FEE A fee equal to � �.5�°Io}of the balance of this loan as of#he da#e of transfer of the proper�y sha�� be payab�e at the �ime of transfer to the lo�n hol�er or its authorized agent, as trustee fvr the Departmen� af Veterans Affairs. If the assumer fails to pay th�s fee at the time of transfer, the fee shall constitute an add�tEonal debt to that already secure� by this instrument, shall bear interest at the rate herein provided, and, at the option of the payee of the indebtedness hereby secured �r any transferee thereof, shall be immediately due and payab�e. This fee Es automatically waived if the assurner is exempt under the provisions of 38 lJ.�.C. 3729�c). �b} A MPTf N PR E I N HAR E U pon appl rcation for approval to allow assum�ti�n of this loan, � processing fee may be charged by the loan holder or its authflrtzed agen# far deterrnEning the creditworthiness of the assumer and subsequently revising �he hol�e�'s ownership records when an approved transfer is completed. The arnount of this charge shall not exceed the rnaximurn established by the Department of Ve#erans AfFairs f�r a Inan to which 5ection 3714 of Chapter 37, Titie 38, United States Code ap�lies. �c� ASSUMPTI�N INDEMNITY LlABIL�TY: If th�s obligation is assume�, #hen the assumer hereby agrees to assume al� of the obEigatiflns of the veteran under the terms of the instruments creating and securing the Ioan. The assumer further agrees to indemnify the Department of Veterans Affairs to the ex#ent of any c�aim �ayrnent arising from the guaranty or insurance of the indebtedness created by this instrument. q433739zG312 Q125 684 U��3 �nitfals: VMP�538R �fl4�5}.�� Page 2 of 3