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201302395 <br />and time of payment of the Indebtedness; join in any extension or subordination <br />agreement; release any Mortgaged Property; take or release other or additional security; <br />modify the rate of interest or period of amortization of the Note or change the amount of <br />the monthly installments payable under the Note; and otherwise modify this Security <br />Instrument or the Note. However, if the Contract of Insurance has been terminated, <br />Lender may (but shall not be obligated to) agree with Borrower to any of the <br />aforementioned actions in this Section and Lender shall not have to give Notice to or obtain <br />the consent of any guarantor or third -party obligor. <br />(b) Any forbearance by Lender in exercising any right or remedy under the Note, <br />this Security Instrument, or any other Loan Document or otherwise afforded by applicable <br />law, shall not be a waiver of or preclude the exercise of any right or remedy. The <br />acceptance by Lender of payment of all or any part of the Indebtedness after the due date <br />of such payment, or in an amount that is less than the required payment, shall not be a <br />waiver of Lender's right to require prompt payment when due of all other payments on <br />account of the Indebtedness or to exercise any right or remedy for any failure to make <br />prompt payment. Enforcement by Lender of any security for the Indebtedness shall not <br />constitute an election by Lender of remedies so as to preclude the exercise of any other <br />right available to Lender. Lender's receipt of any proceeds or awards under Section 19 <br />and Section 20 shall not operate to cure or waive any Event of Default. <br />25. LOAN CHARGES. If any applicable law limiting the amount of interest or <br />other charges permitted to be collected from Borrower in connection with the Loan is <br />interpreted so that any interest or other charge provided for in any Loan Document, <br />whether considered separately or together with other charges provided for in any Loan <br />Document, violates that law, and Borrower is entitled to the benefit of that law, that interest <br />or charge is hereby reduced to the extent necessary to eliminate that violation. The <br />amounts, if any, previously paid to Lender in excess of the permitted amounts shall be <br />applied by Lender to reduce the principal of the Indebtedness. For the purpose of <br />determining whether any applicable law limiting the amount of interest or other charges <br />permitted to be collected from Borrower has been violated, all Indebtedness that <br />constitutes interest, as well as all other charges made in connection with the Indebtedness <br />that constitute interest, shall be deemed to be allocated and spread ratably over the stated <br />term of the Note. Unless otherwise required by applicable law, such allocation and <br />spreading shall be effected in such a manner that the rate of interest so computed is <br />uniform throughout the stated term of the Note. <br />26. WAIVER OF STATUTE OF LIMITATIONS. To the extent permitted by law, <br />Borrower hereby waives the right to assert any statute of limitations as a bar to the <br />enforcement of the lien of this Security Instrument or to any action brought to enforce any <br />of the Loan Documents. <br />27. WAIVER OF MARSHALLING. Notwithstanding the existence of any other <br />security interests in the Mortgaged Property held by Lender or by any other party, Lender <br />Previous editions are obsolete HUD MF Security Instrument HUD- 94000M (Rev. 04/11) <br />Contingent Repayment Mortgage Page 30 FRENCH VILLAGE <br />