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20110386G <br />(a) ASSUMPTION FUNDING FE�; A fee equal to one-half of 1 percent (.50%) of the unpaid <br />principal balance of this loan as of the date of ttansfer of the property sha11 be payable at the time of transfer <br />to the mortgagee or its authorized agent, as tr�stee for the Secretary of Veterans Affairs. If the assumer fails <br />to pay this fee at the time of transfer, the fee shall constitute an additional debt to that already secured by this <br />instrument, shall beaz interest at the rate herein provided, and, at the option of the mortgagee of the <br />indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. Tlus fee is <br />automatically waived if the assumer is exempt under the provisions of 38 U. S. C. 3729 (b). <br />(b) ASSUMPTION PROCESSING CHARGE: Upon application for approval to allow <br />assumptions and transfer of t.�is loan, a processing fee may be charged by the mortgagee or its authorized <br />agent for determining the creditworthiness of the assumer and subsequently revising the holder' s ownerstup <br />records when an approved transfer is completed. The amount of this charge shall not exceed the maximum <br />established by the Department of Veterans Affairs for a loan to which section 3714 of Chapter 37, Title 38, <br />United Sta.tes Code applies. <br />(c) ASSUMPTION IND�VINITY LIABILITY If this obligation is assumed, then the assumer <br />hereby agrees to assume all of the obligations of the veteran under the terms of the instr�ments creating and <br />secuting the loan, including the obligation of the veteran to indemnify the Depattment of Veterans Affairs <br />to the extent of any claim payment azising from the guaranty or insurance of the indebtedness created by this <br />instrument. <br />IN WITNESS WAEREOF, Mortgagor(s) has executed this Assumption Policy Rider. <br />, � . <br />..��:�[!L, I �! �� i ._..� <br />. . � l �, � . � <br />— �s�) <br />Mortgagor <br />_ (Sea1) <br />Mortgagor <br />VA ASSUMPTION POLICY RIDER <br />VAPR.RDR 01/22/09 Page 2 of 2 <br />— (Seal) <br />Mortgagor <br />— �S�) <br />Mortgagor <br />— (Seal) <br />Mortgagor <br />DodNague � <br />www.docmagfc.com <br />II'IIIIIIIIIIIIIIIIIIIIII�IIIIII�IIII�IIIIIIIIII�IIIIII <br />