89100322 - Laserfiche WebLink

Browse

89=-- 100392 ADDENDILNI 1111) rlartgage This loan is immediately due and payable upon transfer of the property securing such loan to any transferee, unless the acceptability of the assinption of the loan is established pursuant to section 1817A of Chapter 37, Title 36, United States Code. A. Funding Fee - A fee equal to one -half of one, percent of tba balance of this loan as o• the date of transfer of the property , at the time of transfer to the loan holder or its, authorized agent,;' Os trustee -for the Administrator R ..Veterans Affairs, if. the assumes, fracas . tO pay this fee at tla.�, tame of transfer, -the. fee, shall, constitute an addiri�in4l debt to that t4 ,.. r�;- secured by this, irrst;Wv er► t shall .,bear intex qt . the rate herein; } . rrfded, and, at the option of. tkre. payee of thp. #:r¢Tellt!ss hereby secured " o any transferee thereof, shall ba; iiediately due tt, 1,r'3e. This fee is automatically waived if the assutier is exempt under. 'the prodsions of 38 U.S.C.- A629(b). B. Processing Charge- Upon application for approval to allow assumption of this loan, a processing, fee may'' a charged by the loan holder or its authorized agent for determining the creditworthiness of tht assumer and' subsequently revising the holder's oiwnersh•p records when an;ogproved transfer. -the is completed. The amount of this charge shall not exceed maximum T established by the Veterans Administration for a loan to which section 18174 t?' of Chapter 37, Title 36, United States Code applies. __. C_. T;rj ir.► Liability- ility- Tf this obligation. is assumed; then the assumer. hereby i- agrees to assume a" of the obligations of the veteran under the terms of . _ the instruments creating and securing the loan, including the obligation of the veteran to indemnify the Veterans Administration to the extent of any- claim payment arising from the guaranty ar. insurance of the indebtedness created by this instrument. Le A fiw. WX err �t�;: R J. D03i CHF 627,6 (3/88) I i W