201209152 - Laserfiche WebLink

Browse

201209152 12. Borrow er Not Released; Forbearance By Lender Not a Waiver. L�xteneion of the Cime for payment or �nodification o£aunorhi��tion of tlte scuns sectued by thie Seciu-ity Inshumcnt�;raaited by Lender to Borrowec or any Successor in Tnterest of Borrower sl�all noC operek�e to rel�se che liabiliry of Borrower or any Succe.ssors in hrteresti of Borrower. Lencier sha71 not be required to commenoe procc;edinbs a�;ainsti vry Succeasor in Intcrest of 13orrower or to refuse to exlend timc for payuienC or otherwise n�odify amortization af the suma secm�ed by tl�is SccuriYy lnstrwnent by resaon oP any demand made by the original Borrower or any Successors ln Interest of Borrowcr. Any forbearance by Lender iix exercieivg any right or resnedy iucluding, without limitation, Iender's ¢ooeplence ofpayments fiom tlurd persons, enliti�s or SLicoessors iu Intereet of Borrower or in amouuts less than the amotint ihen duo, n1�a11 not be a waiver oF or preclucic�the exercise of any right or re�nedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Dound. Borrower coveuants nnd agrees tl�at Bon�ower's obligations and IiabiliCy el�al] be.jourt a�id severaL FIowever, any Borrower who w-sign� this Sccw�ity lustrument buf doea not execule lhe Note(a"co-signer"): (a) is co-aigniug tl�is Seouxity Instrumonti�nly to mortg�ge, grant�nd convey the co-Fi�2cr's interest in tihe Pxoperty nnder the terms of this Seci�rity Ins�riuvcnf; (b) is not peisonally obligateci to pay Che sums secured by tlus Securily Instrmnent; and(c) agrees thnt Lendec and any other Borcower ean agree to extend, modify, forbe�r or make any accommodations wiUi regud to the terms of fhis Security lnstrument or the NoYe without fhe co-signe�'s consent. Subject to theprovisions of Sectiou 18, any Suocessor in Interest nP Borro�war wlio as9umee Borrower's obligations under thie Sect�ri6y Inslrnuicnt in writing, and is approved by Lender, shall obtain all of � Bon ower's rightis and benefits undex tl�is Security I��atrument. T3orrower sha11 not be released f�'om � Barrowcr's ob1igatione and liaUility uuder this Security Inafruulcr�t unless I,ender agrees to such release in writing. The covenants and a�,n'eemeuTs of this Security Insh�wnent ah�i111�ind(cxcepf as provided in Section 20) and benefit the suocessors anci assigns of f.ender. 1 a. Loan ChaYges. Lender inay charge l3onower fees 4'or servicea perfortued in conncotion with Rotrower's default, for the purpose�oP pirotecling Lender's inCercht in the Property�id righta under this Security Instriuncnt, including, but not limited to, attorneys' fees, properly inspcction and va�luatton fees. In regnrd to nny other fees, the al�sencc of cxpceas authority in tl�is Secuiity Inshmnent Co chargc a spccific$e to Borrower sl�all noC be construecl us a�prohibifion on thc cl�ar�ing of encl�1'ee. I.ender may noti chergc Fcos Uiat are expressly prohibiticd by this Security InsU-mnenf or by[Lpplioable Law. If tihe Loan is subjcct to a law which sets maximum lonn charges, and fl�ak law�s finxlly int�erpreted so that the interest or other loau chargcs co1lccted or to be collecfed in connection with the Loa��eYcccd the perinitted limits, then: (a) nny auch 1o�u ol�arge shall be reduced by the amount necessery to reduoe Cho cUarge to tha permittied liuut; ttnd(b) any eums already oollectcd#'rom Rorrower which axceeded permitted linv6�s u✓ill bc rcfun�icd to Rorrower. Lendar inay chooae to meke lhis refiuid 6y rod�icing tlie princip�l owed tuicler the Note or by making a direct payment to Borinwer. If�refitnd reduces principal, tho rcductrwi will be tr�eated as a partial prepaymenti without nny�repayment charge(whe8�ie��oi iiot a�rep�tyment charge is provided for undcr fhe Note), I�orrower's acce�tiance of�ny such refimd madc h��direct payment to Borrower �vill consfitufe n waivcr of ar�y right of action Borrower inight have arising ou�of such ovcrdiarge. 15. Notiees. All notices given by Borrowc�'c�r Le�ider in conneclion with tliis Security Ins6ruuient must Ue in writing, Any notice to Borxower n�oovnectio�a w'rtl�this SecLu ity Histi'umant shall be deemed to have bcc�� given to Rorrower whan mailed by first clnes mail or when actually dc1rvered to Borrower's notice addresa iP senC by oii�or incans. Nokice to aary one Borrower shall consGhite noGce Co a11 Borr�wers unless Appliceble Law expreasly requires ntherwise. 'Che notice address shall be the Property Address rixiless Borrowen c��s 24002633 NGpR��SKA-Sinple Fam ily-Fannic M adFreAdie M ac UNIFORh1 INS'f RUM ENl" Form 3020 7101 VMPp� VMPeNG) 1106 bVoltera I(luwer Flnanclal5ervices Page 11�of 1�