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201208302 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the[ime for payment or modification of amortization of the sums secured by this Se�urity Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not opera[e to release the liability of Borrower or any Successors in Interest of Borrower. I,ender shall not be required to commence proccedings against any Successor in Interest of Borrower or to refuse to extead time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest af Borrower. Any forbearance by Lender in exercising any right ar remedy including, without limitation, L.ender's acceptance of payments from[hird persons, e�ities or Successots in In[erest oF Borrower 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 8ound. Borrower covenants and agrees tha[Bocrower's obligations and liability shall be joint and several. However, any Borrower 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 tetms of this Security Instrument; (b)is not personally obligated to pay the sums secured by this Secutity Instrument; and(c) agrces that Lender and any other Borrower can agree to extend, modify, forbeaz or make any accommodations with regard to the tetms of this Security Instrument or[he Note withou[the co-signer's consent. Subject to the provisioas of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower st�all not be released from 6orrower's obligations and liability under this Security Instrument unless L.ender agrees to such release in writing. The covenants and agrcements of this Security Instmment shall bind(except as provided in Section 20) and benefit the successors and assigus of Lender. 14. Loan Charges. Lender may chazge Borrower fees for services perFormed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this S�urity Instnunent, including, but not lunited to, attomeys' fees, property inspection and valuation fees. In regazd to any other fees, the absence of express authority in tlris S�urity Instrument to chazge a specific f�to Borrower shall not he construed as a prohibition on the charging of such fee. Lender may not charge fees that aze expressly prohibited by this Securiry Insttument or by Applicable Law. If the Loan is subject to a law which sets maJcimum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan excced the pemutted 1'vnits, then: (a)any such loan charge shall be reduced by the amount necessary ro reduce the chazge to the permitted lunit; aad @)any sums already collected from Borrower which exceeded pernutted lunits wi116e refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by making a dir�x payment to Bottower. If a refund reduces principal, the reduction will be tmated as a partial prepaymem without any prepayment chazge(whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will wnstitute a waiver of any right of action Borrower might have arising out of such overcharge. 9 5. Notices. All notices given by Borrower or Lender in connection with this Security Insmiment must be in wri[ing. Any notice[o Borrower in connection with this Securi[y Instrument shall be d�med to have been given to Borrower when mailed by First class mail or when aclually deliveted to Botrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires othenvise. The notice address shall be the Property Address unless Borrower has NEePASKA-SInO�e iemily-Fennie Mae/Fredtlie Mac UNIFORM INSTRUMENT Form 3028 1/O7 VMP� VMP6�NE�ry10b�.00 Wokera Kluwer Finendal5ervicee Page 11 of 1]