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'~IflER TO MORTGAGE I
This loan may be declared irrrnediately due and payable ~on transfer of
the property securing such loan to any transferee, unless the I
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tov the provisions of S~ction 1814 of Chapter 37, Title 38, United States
Code, or by the loan holder if the loan has been sold without recourse.
2. Fundin Fee. "A fee equal to one-half of one percent of the balance
~ of th s oan as of the date of transfer of the property shall be payable
to the United States Department of Veterans Affairs at the time of
transfer. 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 instrunent arxl shall bear interest at the rate herein provided, and
at the option of the payee of the indebtedness hereby secured or any
transferee hereof, the full indebtedness shall be immediately due and ~
payable. This fee is automatically waived if the assuner is exempt under
the provisions of 38 U.S.C. 1829(b). The assumer is not obligated to pay ~
this fee if the U.S. Oepartment of Veterans Affairs has sold this loan ~
without recourse."
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! 3. Processing Charge. "Upon application for approval to allow assunption
; of t s loan, a processing fee may be charged br the U.S. Department of
E Veterans Affairs or its successors or assigns for d~,~~xnining the credit
worthiness of the assuner and subsequently rQyirsing the awnership records
~ when an approved transfer is canpleted. Thcri aAtpEmx of thi~ at~rge shall
E not exceed ~300."
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