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201209340 Security Instrumenl, whefher or not then due. "Opposing Parly" means the lhird party Ihat owes Borrower Miscellaneous Proceeds or Ihe party against whom Borrower has a right of action in regard to Miscellaneous Proceeds. Borrower shall 6e in defaul[if any action or proceeding, whefher civil or criminal, is begun ihat, in Lender's judgment, could result in forfeiWre of Ihe Property or other material impairmenl of Lender's in[erest in lhe Property or righls under this Security InslrumenL Borrower can cure such a defaul[ and, if acceleration has occurred, reinstale as provided in Section 19, by causing Ihe action or proceeding to be dismissed with a ruling Ihat, in Lender's judgmen[, precludes forfeiture of the Property or other material impairmenl of Lender's in[erest in the Property or rights under this Security InstrumenL The proceeds of any award or claim for damages lhat are athibulable to the impairment of Lender's interesl in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied ro restoration or repair of lhe Property shall he applied in the order provided for in Section 2. 12. Borrower Not Released; ForbeardnCe By Lender Not a Waiver. Extension of Ihe time for payment or modificalion of amortization of the sums secured by ihis Security Instrument granted by Lender lo Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Inlerest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or lo refuse ro extend fime for paymenl or oll�erwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by lhe original Borrower or any Successors in Interesl of Borrower. Any forbearance by Lender in exercising any right or remedy including, wilhout limitalion, Lender's acceptance of payments from third persons, en[ities or Successors in Inleresl of Borrower or in amounts less [han the amounl then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co�igners; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Securily Instrumenl bu[ does not execule the No�e (a "co-siguer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of Ihis Security Instrument (b) is nol personally obliga[ed to pay the sums secured by Ihis Security Instrumenh, and (c) agrees ihal Lender and any other Borrower can agree to extend, modify, forbear or make any aceommodations with regard lo lhe lerms of this Security Inslrument or [he Note withoul the co-signer's consent. Subjecl io lhe provisions of Section 18, any Successor in Interesl of Borrower who assumes Borrower's obliga[ions under this Security Instrument in writing, and is approved by Lender, shall ob[ain all of Borrower's righls and benefits under this Securily InstrumenL Borrower shall no[ be released from Borrower's obligations and liability under this Sewrity Inslrument unless Lender agrees lo such release in writing. The covenants and agreements of Ihis Security Instrument shall bind (except as provided in Section 20) and benefit [he successors and assigns of Lender. 14. LAan Charges. Lender may charge Borrower fees for services performed in connection wi[h Borrower's default, for Ihe purpose of protecting Lender's inlerest in lhe Properly and rights under this Security Instrument, including, but not limited to, attorneys' fees, properry inspection and valualion fees. In regard to any other fees, �he absence of express authority in this Securily Instrument m charge a specific fee �o Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees [hal are expressly prohibiled by this Security Ins[rument or by Applicable Law. D011 2 3 2 3 31 51 CHibank 3263.'13 V3 IYt8Rq5NA-Single Famlly-Fannie Mae/Fretlaie Mac UNIFORM WSTRtIMENT WRH MERS Fwm 3026 1/01 yry�p� VMP6H�NE)(1t05).00 Wdters Kluwm FinaMial Servires Page 11 of i]