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201208580 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension ofthe time for payincnt or modif cation of ainortization of the sums secured by this Securiry Instriunent granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrorver or any Successors in Interest of Borro�er. Lender shall not be required to comtnence proceedings against any Successor iii Interest of Borrowzr or to refuse to extend time for payment or otherwise modify atnortization of the sums secured by this Security Instrument by reason of any demand made by the original Bonower or any Suceessors m interest of Borcower. Any forbearance by Lender in exercising any right or remedy includitig, without lunitation, Lendex's acceyfanco of payments&om third persoas, enti6es or Successors in Interest of Borrower or in ampunts le�s than the amount then due, sl�all nok be a waiver of or preclude the exercise of any right or remedy. t 3. Joint and Several Liability; Co-signers; Successors and AssLqns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be jolnT and sevecal. However, any Borrower who co-sigus th�is Securlty Instrument but does not ex�cute the Note(a"eo-signer")_ (a) is co-stgni�ng this Seci�rity Instrument only tq mortgage, grant and convey tlie co-signet's interest in the Property Lmder the teivzs of this Security Insmunent; (b)is not personally obligated to pay the susns secured by this Security Instrument; and(c)agrees that Lznder and any other Bono��er can agree to exCend, modi.fy, forbear or make any accominodations with regazd to thc tanns of tbis Sec�itp Instnunent ar the Note without ihe co-si�ea's consent. Subject to ihe provisions of Section 18, any Successor in Interest of Borrower wno assumes Borrower's obligations under this Security Ins#rument in w-riting, and is approved by Lender, shall o6tain all of Borrower's rights aizd benefit,under tlus Security Instrwnent. Boaower shaIl not be xeleased from Borrower's obligations and liabifity under this Sccuriry Instrinnent unless Lender agees to such release in writing. The covevauts and ageements of this Security Instrument shall bind(except as provided in Section 20) and benefit thc succcssors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection.with Borrower's default, for the purpose of protecting Lender's Intzrest in the Property and rights under this Seaurity Instntmenf, including, but not limited to, attorneys' fees, property inspection and vaIuation fees_ In regard to airy otlia fees, the aUsence of express authority In thig Seeurity Instnzment to charge a specit'ic fee to Bocower shal!not be conshued as a prohibirian on the charging of such Pee. Lender may not char�e fees tl�at aze expressly prolubited by this Secwity Lnstrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and thaC law is finally intcrpreted so that the interest or other loan charges collected or to be collected m connection with the Loan exceed the permitted linrits, then: (a) any such loan charge sl�all be reduced by the amouut necessary ta reduce the charge to the permitted limit� and(b) any sums already collected from Borxower which exceeded peainittul liuuts will be refunded Yo Borrower. Lender may choose to makc tlus refund by reducing the principal owed under£he Note or by making a direct payment to Borrower. If a refund reduces principal, the reciuction will be 4eated as a partial grepayment withoui any pre�ayment charge(whethei or not a prepay,nent charge is provided ior under thc Note). Borrower`s acceptance of any such.refmid made by direct payment to Borrower Rrill consutute a waiver of auy right of action Bosower might have azising out of such overcharge. 15. Notices. All notices n ven by Borrower or Lender in connection with this Security Insh'ament must be in writing_ Any nofice tn BonoRrer in coanection with this Secucity Instnunent shall Ue deemed to Ma�e been given to Boaowei when mailed by first elass mail or when actually delivered to Bo�owex's notice address if sent by othec means. Notice to any one Barrower shall con�ritute notice to all Borrowers unless Applicahle Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has 24D02435 NFBR4SKP.Sinqle Family-Fannie blaelFredtlix Mac ONIFORM WSTRUM ENT FOtm 3028 UO'. 'dMP� VM PG(NEJ(1�105) "Jolters Kluw e[Financisl Services Page 11 f 1 f