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20120240� Borrower shall be in default if any action or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if acceleration has occurred, reinstate as provided in 5ection 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that aze attributable to the impairment of Lender's interest in the Property aze hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that aze not applied to restoration or repair of the Property sha11 be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instniment granted by Lender to Borrower or any Successor in Interest of Bonower shall not operate to release the liability of Bonower or any 5uccessors in Interest of Bonower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Bonower or any Successors in Interest of Bonower. Any forbeazance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Bonower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and 5everal Liability; Co-signers; Successors and Assigns Bound. Bonower covenants and agrees that Bonower's obligations and liability shall be joint and several. However, any Borrower who co-signs this 5ecurity Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (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, forbear or make any accommodations with regazd to the terms of this Security Instrument or the Note without the co-signer's consent. 5ubject to the provisions of Section 18, any Successor in Interest of Bonower who assumes Bonower's obligations under this Security Instcvment in writing, and is approved by Lender, shall obtain all of Bonower's rights and benefits under this Security Instrument. Borrower shall not be released from Bonower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instnunent shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 1�BRl�S� — Single Family — Famte Mae/Freddie Mac IJNIFORM INSfRUMENT Eorm 30Z8 1N� �v t^ „�� GCC - G3028-12 (09/Ol) (Page 12 of I9) Initials: �J ��