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200808804 4048504390 discharge the entire indebtedness and all proper costs and e:-\penses secured hereby, GUARANTY: Should the Departmcnt or Vclewns Affairs fail or refuse to issue its guarant.y in full amount within 60 davs from the date that this loan would nonnally become cligible for such guaranty committed upon by' the Department of Vclenms Affairs under the provisions of Title :IS of the U.S. Code "Veterans Benefits" the Mortgagee may declare the indebtedness herebv secured at once due ancI payable and may f(.)feelose immediately or may e:\ereise any other rights hereunder or take any other proper action as by law pnl\'idecl, TRANSFER OF THE PROPERTY: This loan may be declared immediatcly duc and payable upon transfer of the property securing sLlch loan to any transreree, unless the acceptability of the assumption of the loan is established pursuant to Section :17 [4 of Chapter 37. Title :I H, United State Code. An authorized transfer ("assumption") of the property shall also be subject to additional covenants and agreements as set forth below: (a) ASSUMPTlONFUNDTNGYEE: A fee equal to one halt' of one percent (CUO'Yo) of the balance of this loan as or the date of transfer of the propetiy shall be payable at the time of transfer to the loan holder or its authorized agen!' as trustee 1'01' the Department of Veterans Affairs, If the assumeI' fails to pay this fee at the time of transfer. the Ice shall constitute an additional deht to that already secured by this instrument, shall bear interl,st at thc rate herein provided, and at the option of the payee of the indebtedness hereby secured or any transferee thereof. shall he immediately due and payable. This fee is automatically waived if the assumeI' is e:\empt under the provisions of,:\l:( u,s,c. :1729 (e). (h) ASSUMPTION PROCL~SSll'::l.G CHARGE: Upon application for approval to allow assumption and transfer of this loan, a processing fee may be charged hy the loan holder or its authorized agent for determining the eredit""orthiness of the assumeI' and subsequently revising the holder's oW11ership records ""hen an approved transfer is completed, The amount of this charge shall not e:-\ceed the nHl:-\innnll established by the Department of Veterans Affairs for a lolm to which Section :1714 of Chapter .:\ 7, Title :lH, United States Code applies. (c) ASStJMI'TI(JN INDEMNITY IJABlLITY: II' this obligation is assumed, then the aSSllmer hereby agrces to ,Lssume all of the obligations or the veteran under the tenus of the instruments creating aud securing the loan. The assllmer rurther agrces to indemnitv the Department of Vcterans Affairs to the extent of anv claim payment arising rWm the guaranty or insurance or the indebtedness crcated hy this instrument. IN WITNESS WllERr;;(lF. Borrower(s) has e:\eeuted this V.A. Guaranteed Loan and Assumption Policy Rider. ~ JAMES~ V,\ (;1'.\R.\!\TJ:I:D LOAN AND I\SSl 11\1PTION 1'( lUCY RIDFR E;.' 53,1 l'ag~ 2 of 2