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201109323 LATE CHARGE: At Lender's option, Bonower will pay a "late charge" not exceeding four per centum (4%) of We overdue payment when paid more than fifteen (15) days after the due date thereof to cover the extra expense involved in handling delinquent payments, but such "late charge" shall not be payable out of the proceeds of any sale made to satisfy the indebtedness secured hereby, unless such proceeds are sufficient to discharge the entire indebtedness and all proper costs and expenses secured hereby. TRANSFER OF THE PROPERTY: This loan may be declared immediately due and payable upon transfer of the Property securing such loan to any transferee,unless the acceptability of the assumption of the loan is estabflshed pursuant to Section 3714 of Chapter 37, Tifle 38, United States Code. An authorized transfer ("assutnption") of the Property shall also be subject to additional covenants and agreements as set forth below: (a)ASSUMPTION FUNDING FEE: A fee equal to five tenths ( 0.500 %) of the balance of this loan as of the date of transfer of We Property shall be payable at the time of transfer to the loan holder or 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 additional debt to that already secured by this instrument, shall bear interest at the rate herein provided, and, at the option of We payee of tlie indebtedness hereby secured or any transferee thereof, shall be immediately due and payable. This fee is antomatically waived if the assumer is exempt under the provisions of 38 U.S.C. 3729 (c). (b) ASSUMPTION PROCFSSING CHARGE: 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 We maximum established by the Department of Veterans Affairs for a loan to wluch Section 3714 of Chapter 37, Tifle 38, United States Code applies. (c)ASSUMPTION INDEMNITY LIABILITY:If this obligation is assumed,then the assumer hereby agrees to assume all of We obligations of the veteran under the terms of the instruments creating and securing the loan. The assumer ftu�ther 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. 75858302 0084827203 .�., Initials: 1�-�� vlY�-539R(0310) Page 2 of 3