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�o��o�� Bonower 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 Properly or other material impairment of Lender's interest in the Property or rights under this Security Instrument. Bonower can cure such a default and, if acceleration has occurred, reinstate as provided in Section 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 awazd or claim for damages that aze amibutable to the impairment of Lender's interest in the Property are hereby assigned and sha11 be paid to Lender. All Miscellaneous Proceeds that aze not applied to restoration or repair of the Property shall 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 Instrument granted by Lender to Bonower or any Successor in Interest of Bonower sha11 not operate to release the liability of Bonower or any Successors in Interest of Bonower. Lender shall not be required to commence proceedings against any Successor in Interest of Bortower 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 forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or 5uccessors 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 Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Bonower who co-signs this Security 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 Bonower can agree to extend, modify, forbeaz or make any accommodations with regazd to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Bonower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain a11 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 Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. �B�$� — Single F�ily — Faunie Mae/Freddte Mac LINIFORM INSfRU�NT Farm 3028 1!0 GCC - G3028-12 (09/Ol) (Page 12 of 19) Initiais•