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2oioo79s5 GUARANTY: Should the Department of Veterans Affairs fail or refuse to issue its guaranty in full amaunt within b0 days from the date that this loan would normally become eligible for such guaranty cammitted upon by the Department of Veterans Affairs under the provisions of Title 38 of the U.S. Code "Veterans Benefits," the Mortgagee may declare the indebtedness hereby secured at once due and payable and may foreclose immediately or may exercise any other rights hereunder or take any other proper action as by law provided. TRANSFER OF THE PROPERTY: This loan rnay be declared immediately due and payable upon tratisfer of the properiy securing such laan to any transferee, unless the acceptahility of the assumption of the laan is established pursuant to Section 3714 of Chapter 37, Title 38, United States Code. An authorized transfer ("assumption") of the property shall also be subject to additianal covenants and agreements as set Forth below: (a) : A fee equal to one-half of 1 percent (.SO%) of the unpaid principal balance of this loan as of the date of transfer of the property shall be payable at the time of transfer to the loan holder ar 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 additianal 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 secured or any transferee thereof, shall be immediately due and payable. This fee is automatically waived if the assurner is exempt under the provisions of 38 U.S.C. 3729 (c). (b) A�fiC 1MPTiON PROCF.SSiNC� CHA�('�: Upon application for approval to allow assumption of this loan, a processing fee may be charged by the loan holder or its authorized agent for determining the creditworthiness of the assumer and subsequently revising the holder's ownership records when an approved transfer is completed. The amount of this charge shall not exceed the maximum established by the Department of Veterans Affairs for a laan to which Section 3714 oFChapter 37, Title 38, United States Code applies. (c) A��TTMPTi(7N INI�RMNiTY L��ARii.TTY: 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 guaranty or insurance of the indebtedness created by this instrument. VA Guaranteed Laan & Assumption Policy Rider �� Page 2 of 3 � ,p Borrower(s) Initials