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201206044 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the surns secured by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to continence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise inodify amortization of the Sums secured by this Security Instrument by reason of any demand made by the original Borrower or ally SLWcCSSOrS in ImercsL of Borrower. Any forbearance by Lender in exercising illy right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less thin the amount then due, shall not be a waiver of or prceludo 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, illy Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security InStri-11TICIlt 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 Clio surns 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 regard 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 Borrower's obligations under this Security Instrument in writing, and is approved by l.ender, shall obtain ill of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrunient radess 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, Lendor may charge Borrower fees for services performed in connection with Borrower's default, for the purpose ofpro[ectiiig Lender's interest in die Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific, fee to Borrower Shall not be construed is a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Secturity Instrument or by Applicablo Law, If the Loin 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 Clio Loan exceed (lie permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; mid (b) any sums already collected from Borrower which exceeded permitted limits will be reftaided to Borrower. Lender may choose to make this refund by reducing the principal owed Linder the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without ally prepayment charge (whother or not a prepayment charge is provided for Linder [he Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of illy right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or l,ender ill connection With this Security 111SOUNTICIlt nuist be in writing, Any notice to Borrower in connection with this Security Instrument shall be deeldied to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowei s unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower his 24001511 NEU RAS KA-Singlo Fain ily-FAnnie V aelFro.d die M ao UN I FORM IN STRUM ENT �orni 3028 1101 VMPN VP1PG(NF) U 105) Wolters Kluwr rin.Wol 86rvioes Pop 11 of 17