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� i �� l�� CASE ��: LAP343460148845 LOAN ��: 1107292 TRANSFER OF T'HE PROPERTY:This loan may be declared immediately due and payable upon transfer of the property securing such loan to any transferee,unless the acceptability of the assumption of the loan is established pursuant w Section 3714 of Chapter 37,Tide 38,United States Code. An authorized transfer ("assumption") of the property shall also be subject to additional covenants and agreements as set forth below: (a)ASSUMPT'ION FUNDING FEE: A fee equal to one-half of 1 percent(.50%)of the principal balance of this loan as of the date of uansfer of the property shall be payable at the time of uansfer to the loan holder or its authorized agent,as trustee for the Department of Veterans Affairs.If the assumer fails to pay this fee at the time of transfer,the fee shall constitute an additional debt to that already secured by this instrument,shall bear interest at the rate herein provided,and, at the option of the payee of the indebtedness hereby secwed or any transferee thereof, shall be immediately due and payable. This fee is automatically waived if the assumer is exempt under the provisions of 38 U.S.C. 3729(c). (b) ASSUMP'I'ION PROCESSING CHARGE: Upon application for approval to allow assumption of this loan, a processing fee may be chazged by the loan holder or its authorized agent for determining the creditworthiness of the assumer and subsequendy revising the holder's ownership records when an approved transfer is completed.T'he amount of this charge shall not exceed the maacimum established by the Department of Veterans Affairs for a loan to which Section 3714 of Chapter 37,Tide 38,United States Code applies. (c) ASSUMPTION INDENINITY LIABILIT'Y: If this obligation is assumed, then the assumer hereby agrees to assume all of the obligations of the veteran under the terms of the instruments creating and securing the loan. The assumer further agrees to indemnify the Department of Veterans Affairs to the extent of any claim payment arising from the guazanty or insurance of the indebtedness created by this instrumen� ��538U(9705).01 CHL(09/97) Page 3 of 4 Initials�