Common use of Assumption Fee Clause in Contracts

Assumption Fee. Simultaneously with or prior to the execution hereof, any or both of Borrower Parties (pursuant to an agreement between them) shall pay to or has paid Lender: (i) a transfer fee equal to $615,000, which is 0.5% of the outstanding principal balance of the Loan; (ii) an administration fee equal to $125.00; (iii) a flood determination fee equal to

Assumption Fee. Simultaneously with or prior to the execution hereof, any or both of Borrower Parties (pursuant to an agreement between them) shall pay to or has paid Lender: (i) a transfer fee equal to $615,000132,500,000, which is 0.50.50% of the outstanding principal balance of the Loan; (ii) an administration fee equal to $125.00; and (iii) a flood determination credit review fee equal toto $100.00; each of which Borrower Parties agree are fees for new consideration and are not interest charged in connection with the Loan.

Assumption Fee. Simultaneously with or prior to the execution hereof, any or both of Borrower Parties (pursuant to an agreement between them) shall pay to or has paid Lender: (i) a transfer fee equal to $615,00072,500, which is 0.5% of the outstanding principal balance of the Loan; (ii) an administration fee equal to $125.00; and (iii) a flood determination credit review fee equal toto $100.00; each of which Borrower Parties agree are fees for new consideration and are not interest charged in connection with the Loan.