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201206086 12. Borrower Not Released; Forbearance By Lender Not a Waiver. L�xtension of the tinie for payment or modifieaCion of amortization of the suii�s securcd by this SecuriYy Ins�trulnent granted by Lender to Borrower or aiiy Successor in Interes[of Borrower shall not operate Co releasa the liability oP&orrower or any Successors in Interest oY Bortower. L.ender shall noC be required to coi�unenca proceedings against nny Successor i�i Interest oP Borrower or to refuse to extend time Yor paymcnt oc otherwise modify amortization of the sui�ns secured by this Security Instrtunent by reason o�P any demand made by We origi�al Borrower or any Successocs in InreresY of Borrower. Any forbcarance by Lender in exercising any righC or remedg including, without limitation, Lendcr's acceptance oP payments froin third persons, entities or Suecessors i❑ Interest of Borrower or in arnounts fess than the nmou�t then due, s}ial] not be a waivec o�F or preclude thc exorcise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Barrower covenants n��d agrees that Borrower's oblig2tions .md liabili6y shall be joinf and several. However, any Borirower who co-signs this Security Instrument but docs not execute the Note (a "co-eigner"): (a) is oo-.�igning Chis SeeuriCy Instrument o�ily to mortgagc, grant and convey the cc�-signer's inlerest in the Property nnder the terms of this Security Instrument; (b) is noC pexsonailly obligated to pay the sum� secured by tliis SecuriY,y Insu-ument; 2nd (c) agrees thaC Lendex and any other Borrower ean agree Yo extend, modify, forbaar or make any accommodations with regard ro the terms of lhis Sacurity InsYrumant or th� Notc wiChout the co-signer's consent. � SubjecC to the provisions oP Section l8, any St�ccessor ii�Interest of Bociower who assumes Borrower's obligations undcr Chis Security Instrument in writing, and is approved by Lender, shall obtain ell oP Boccowcr's rights and benefiCs�tndex Cliis Security Inslrumant Borrpwer sliall not be released from Borrower's obligations and liability wide[ this Securiry InstrumenY unless Le�ider a�rccs �o such release i❑ writing. The covenants and a�reements of Chis Securiry IiisCrument sh.tll bind (cxecpC as provided in Seetion 20) and benePit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borr�wet Pees for serviees performed ii1 connecfion with Rorrowei's default, for the pm�pose�of protecting Lender's interesC in tl�e Propexty Euid righCs under this SeeuriCy Instcument, includin�;, but noC limited to, atCorneys' �fees, property inspecCion a�d valtiaeion fees. H7 regard to any other fees, Clze absence of express authoripy in this Secuiity L�strument to chatge a specific fee to Borrower shall not be oonstrued as a prohibition on the charging of sucli fee. Lender may not charge fees thxt are expressly proi�ibited hy this Security Instrumeiit r�r by Applicable L�w. If the Loan is subject to a law which sets maximum ]oan cliuges, and ChaC law is finally ii�teiyreted so thaC the iuterest or othcr loan charges collecCed or to be wllectcd in connaction with tlie Loau exceed the perinitCed Iimits, then: (a) any such loan chaige shall bc rednced by the lmount necessaiy to reducc Che charge fo Che permitted limit; uid (b) auy sums alrcady colleeted from IIorrowar which exceeded permitted 1 imits will be refunded to Bo�xower. Lender may ohoose Co make this refund by reducin�; the principal owed uvder the Note or by mal<ing a direct payment to Borrower. If a refund reduces principal, Che redttction will be tre.ited as a partial prepayment wiChout u�y prepayment chargc (wheCher m not a pra�nyment cl�arge 3s provided for under Yhe Note). Borrower's acceptaucc of any such refund made by direct payment Co Borrower will constitute a waiver of any righC of act'ron Borrower migh[liavo�arising out of such overchnrge. 15. Natices. All notices give�l by Borro�ver or T,ender in connectiou with this Secui�ily [nstrument mtisf be in writing. Any i�oti�;e to Borrower in connecCiori witli tliis SeG;uriry Instrumenf shall be deemed Co have 6een given Co Borrower whcn mailed by first class mail or wlien acCually delivea�ed to Borrower's notice address iP senC by olher means. Notice Tn �uy one Borrower shall eonsCihite noCice tn all Bor;�owers wiless Applicable I_,aw exprassly reqnires otherwise. The iiotice address sha11 Ue tl�e Property Address unlcss Borrower has 2aootena NF5RASICA-6inplo Femily-Fennla MaelFreddle Meo UNIFORM INS'fRl1MENT � Fonn 9028 1/01 VMP B VMPBWEI U 106) Wolmre Kluwar Finenaiel5arvlaes PetlA 11 nf 1]