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201206276 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Exteusion of the time for payment or modification of unortization of tlie sums sccm�ed by this Seourity uistrument granted by Lender Co Borrower or any Sliccessor in Intarest of Borrower shall noC operate to release tlze ]iabiliCy oP Rorrower or any Successois ln Interest oP Borrower. Le�der sl�nll not Ue required to commence proceedings against any Sucoessor in InfcrosC of Ror�rower or to refuse to exteiid time for payment or otherwise modify amortizatlon of the sums secuied by this Security Instrmnent by reason oP ang demand made Uy the origina] Borrower or any Successors in Tnterest �f Borrower, Any tbrbcarance by Lender in exercising �my riglit or remedy includirtg, withouC limifation, Lenclei's accepiance of paymenCs fanm tliird persoiis, enCiCies or SuccessorS in Interest of Borrower or in �mounts less ltian the amoant tlien due, shal] not be a waiver of or preelnde tl�e exercise af any right or remcdy. 13. Joint and Several LiabiliYy; Co-signers; Successors and Assigns Bound. Borrower c;ovenanCs and agrees Ihat Rorrower's obligations Ai1d liabiliEy shall be,joint and sevei��l. ITowever, any Borrower who co-signs this SacuriCy Insh'ument but docs not execute tlie Note (a "co-sigi�er"): (a) is co-signing tliis SecuriCy Listrument only W mortgagc, grant and convey fl�e co-signer's intcresC in the Pr�perty under tlie terms oP chis Secuitity InsCrument; (b) i6 noC personally obligated to pay the sums secuiad by this SecuriCy Inserumei�t; and (c) agrces thaE I.ender a��d any other Boriower can agree to extend, modify, forbear or mal<e any t�ccomn7odations with regard eo tl�e terms of this SecuxiCy Instrument or Cfle Note without the co-signar's C(�17SCClt. Subject Co thc provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under Chis Secuiify Iilstrument in tvriting, and is approved by Lendcr, shali obCain all of Borirower's rigltts and benefIts undcr Chis Seeurity Instrtunent. Borrower shall not be released from Boxcower's obligations and Iiability uoder tliis Security Inslrumenl unless Lender agrees to such relcase in wriling. 1he covenants and agreements of this Sccuril�y InstrumenC shall bind(except as providcd in Seetiou 20) and benefit the successois and assig�s of Lender. 14. Loan Charges. I,ender may charge Borrower facs fm serviees perfoE•med iit corniection wiCh Borrower's dePault, for the purpose o�F protectin� Lender's intarest in the Property and rights under Chis SeeuriCy � Instrument, Including, but not 13mited to, a6torneys' fees, �roperty iuspection and valuation fees. In regard to aqy oClier fees, the absence ot'express authority iu tliis 5ecurity IiistrumcnC fo charge a specific fee to Borrower shall not be conslrued as a pcohi6ition on the cliarging of such fee. I.ender may not charge fees ChaC are expressly prohibited by this Security LnsGrument nr by Appflcnl�le Law. PP the Loan is subjee[to a law which sets mt�imuai loan charges, and fhaC lnw is finally inCcrpreCed so Cliat the interest or oYher lonn eh.uges collectccl or Co be eolleeted in eoiwection wiCh the I,oan exeeed Che permitted limits, then: (a) any such loan charge shal] be reduced by Che amount neeessary to reduce the charge Co the permitCcd limit:; and (b) �iy sums already cr�llected ffrotn Rorrpwer whlch exceeded permiCCed limits will bc rcfunded to Borrower. Lender may choose to make this refund Uy reducing the pricrcipal owed ui�der the Note or by making a direct payinent to 13orrower. If a refund reduces principal, Chc raducCion will be U�eated as a pairtial prepayment wiChouC any pcepaymei�t cliarbe (whetlzer or noC a prepaymenl charge is provided for under tlie Note). Borrowcr's ac¢eptance of any such refimd made by direet payment Co Borrower will coiistitute a waiver of any rigl�t of actiou Borrower mighC have arising out of such overcharge. 15. Notices. All notices given by Borrower or L,e�der in connection wiCl�this Securiry TneYrwnenC must be in wriring. Any ilotice Co Borirower in connection with this SecuriCy instiument sl�all he deemed to haWe been given Co Borrower wl�en mailed by first class mail or when aetually dalivered to Borrowe�'s ooCica address if sent by othet menns. Notice to any onc 13orrower shall constiritte notice to all Borrowers unless Applicable Law ex�ressly requires otherwise, T'[�e notice address shsill be thc ProperCy Address unless Borrower has zaootsoz NE�FA51<A-Slnqle FemIl�pFennlo MaolFreddie INac 11NIFORM IN9TFUtVIENT f-onn 302$1101 VMP n VMN6INEC 11�1061 Wolters I(luwer flnanalsl5ervloae Pe�e 1 1 1 n