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fl•T1j[1I1�:�C�L•� LATE CHARGE: At �.ender's opdnn, Borrower will pay a"late charge" not exceediug four per centum (496) of the overdae payment when paid mare than tifteen (15) days after the dne date thereof to cover the exh�a expensc involved in ha�r►dling del�nqueni payments, bnt such "late charge" shall not be payable out of We proceeds of any sale made to satlsfy the lndebtedness secured hereby, unless snch prnceeds are sufficient to discharge the entIre indebtedness and all proper costs and expenses secured hereby. TRANSFER �F THE PROPERTY: This lqan may be declared immediately due and payable upon transfer of the Property securtng such loan to any transferee, uriless We acceptability oF the assumption of the Iaan is established pursuant to 5ection 3714 of Chapter 37, 'Citle 38, United States Code. pn anthorized transfet ("assumpHon") of the Prnperty shall also be subJect to additlonal covenants and agreements as set forth betow: (8) ,�►,S�U_ ��J A fee equal to �ive ter�ths ( 0. 500 %) nf the balance of tbis loan as of the date of transfer af We Property shall be payable at the tlme nf transfer to the lnan holder or its anWorized agent, as trustee for the Departmemt of Veterans Affairs. If the assumer fails to pay thts fee at the Wne of transfer, the fee shall cnnstltute an additianal debt to that already secured by thls lnstrument, shall bear interest at the rate herein provlded, and, at the opbion of the payee of the indebtedness he�by secured or any transferee thereof, shall be immediately due and payable. This fee is automatically walved if the assuaaer ls eacempt under the provisians of 38 U.S.C. 3729 (c)• (b) A RO E: Upon application for appraval to allow assumption of this loan, a processing fee may be charged by the loan holder or its authorized agent for detern�ining the creditworthiness of the assumer and subsequendy revlsing the holder's ownership recards wh�n an approved transfer is completed. The ainount of this charge shall nat e�rceed the maximum established by the Deptirhnent o� Veterans Affairs for a loan to which S�ckion 3714 of Chapter 3T, Tit1� 38, United 5tates Cade applies. (c) ��JMPTION DEMNITY LIAB��7 : If this obllgadon is assumed, then the assumer hereby agrees to assume all of the obligadans of the veteran under the tecros af the instruments creatin$ and securing the loan. 'The assumer furWer agrees ta indemnify the Department of Veterans A!�'airs ro We extent af airy clalm payment arlsing from thc guarar►ty or insurance of the Indebted�ss created by this ins�ument. 70852229 0084135888 Initlals:� �-089R (0390) F'age 2 of 3