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200205897 LATE CI- LARGE: Al Lender's option, 13orro,,cr will pay a'late charge" not exCCeding ftmr per cnucnt (h`,G) of the overdue payment when paid leave than tlttecu (15) days after the due date thereof to cover the kola eapn)se inVOIVCd in handling delinquent paymcn zt . but such "late charge liall not be pat >blu out of the proceeds of any skin mode to satisfy the indebtedness secured hereby, VTc sufficient to discharge the entire indebtedness and all proper costs and expenses srcured hurcby. GUARANTY: Should the Department of Veterans At 'fairs fail or refuse to issue its eoannty in full amouoe within 60 days from the date that this loan Would nompoly become eligible for such guaranty aruunilied upon by the Depnrunent of Veterans Affairs under the pmvivons of Title 35 of the U.S Code "Volcrarrs Benefits ." ells Mo[tgagec may declare the indebtedness hereby secured at once due and 1'ablc and u)aY foreclose immediately or may exercise any oihcr Eights hcreundcr or take any other proper adum as by law provided. TRANSFER OF THE PROPERTY. This loan may be declared imnsdlMCly due and payable upon erknster of the property searr'mg such loan to any transferee, unless the acceptability of the assumption of the low) is established pursuant to Section 3717 of Chapter 37.'1'Itic 35. Uniled State, Code. An authorized tIDnsfer ('bssnmption,) Eli the property shall also be subject to addltionrd envenents and agreements is sct forth below ASSUMMON FUNDING FEE: A fee equal m one -half of l percent (.507) of the ball of this loan as of the date of rrwl, c, of the property shall be payable at dtc )into of transfer to the loan holder or its sttlhoriud agcau, as trustee for dte Departnacne of Velcrwls Affairs. If die assumer falls to prry this fee at the time of transfer, the lee shall eonstimte an additional debt to (Ilkalready lh5"on"ie by f tills instrument, 1ho11 hear interest at the rate herein provided, and. Option indebtedness hereby secured or any traust"Oe thereof, shall be itmnediVely due and payable- 111" 1'ee is aulomwically waived if The assumer is exempt under the provisions of 38 U.S C. 3729 (c). (b) CssII NIPTION YROCFSSING CHARGE: Upon application for approval to allow assumption of for determi this loan. a processing fee may be charged by the loan holder or its authow,:d ngeut ning the creditworthiness or the assumer and subseryucutly rcvtsing the holders ownership records when w approved tr.msfer is completed. The amount of this charge shall not exccod the macunum esn+blishrd by the Department of V ucran, Affairs for a loin to hicit Section 3714 of Chapter 37. 1160 36, United Slates Code applies. (c) (ASSUMPTION INDIIMNITY LIA13111'I Y' If this obligation is assumed_ then the assmmcr here y agrees to assume all of the obligations of the Ieteran under the term = -- of the instruments aching and of Veterans Affairs seeming the loan. The assurner to Cher agrees to indemnify the Department m the extent of any claim payment arising from the Euaranry or insurance of the indebtedness crend by this instrument" narlA _� 538R 199061.01 Pager 2 of 3 S�5l H12 'd EKeKROb `ON Wd OLN MH OMUA S-MM Wd bb:ll MA d00Z- [E -AOW