201201401 - Laserfiche WebLink

Browse

20�201�0� 12. BorrowerNot Released;Forb�aranceBy LenderlVot a Waiv�r. Extension of the time for payment or modification of amofization of the sums secured by 4his Security Insh�ument g�anted by Lender to Boaower or any Successor in Interest of Borrower sball not opetate to release the liability of Bortower or any Successors in Interest of Bortowet. Lender shall not be required to commeace proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otheiwise modifiy amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forb�rance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third pe-rsons, entities or Successora in Interest of Borrower or in amounts Iess than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and S�veral Liability;Co-signers;Successorsand AsslgnsBound.Borrower covenants and agrees that Borrower's obligarions aud liability shall be joint and several. However, any Borrower who co-signs this Secu.rity Instrument but does not execute the Note (a "co-signer"): (a) is co-signing tlus Security Insttvment only to mortgage, grant and convey tlie co-signet's interest in the Ptopetty uader the terms of this S�urity Inshvment; (b} is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forb�r or make any accommodations with regard to the terms of this Security Inshument or the Note without the co-signer's consent. Subject to fhe provisions of Secrion 18, any Successor in Interest of Borrower who assumes Botrower's obligations under this Security Insttument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Bonower shall not be released &om Borrower's obligations and liability under this Security Inshwnent unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services petformed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Secutity Insirument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regazd to any other fees, the absence of express authority in this S�urity Instrument to charge a specific fee to Borrower shall ttot be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge sha11 be reduced by the amount necessary to reduce the charge to fhe permitted limit; and (b) any sums already couected from Boaower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct paytnent to Bortower. If a refund reduces principal, the reducrion will be treated as a partial prepayment without any prepayment chatge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Bortower wilt constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Bortower or Lender in connection with this Secutity Instivment must be in writing. Any notice to Borrower in connecrion with this S�vrity Ia4tritment shall be deemed to have been given to Bortower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Boaower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has NEBRASKASingle Family-Fennie Mee/Fretlqie Mac UNIFORM INSTRUMENT Form 3pZg ��p� VMP @ VMPB(NE) (1106).00 Woitera Kluwer Flnanciel 3ervices Pega 11 of 17 C �