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��14��975 Praceeds shall be appl ied ta th�sums secure�by this Securi ty I ns�rument, whether ar no�#hen due, with the �XC�55, i f any, pa�d to B orrovv�r. �f�he Pr�perty is abandon�d by Borro�er, or if, after na�ice by Lender to Borrovver tha�the�pp�sing Par�y (as defi ned i n the next sentence} offers �� make an award to settle a c�ai m for damages, Borrovver fai�s to respond to Lender wi�hin 34 days after the dat� �he notice is gi�en, Lender is author�zed to c�llect and apply th� Miscellane�us Proceeds either to restarat��n �r repair of the Praperty or to the sums secured by this Security �nstrurnent, whether �r not then due, subj��ct to th� rights of any lienhold�r with rights to Miscellan�ous Proceeds �hat are superiar tfl L�ender's rights. "�ppasing Party" means the third party that aw�s Borrawer Miscellaneous Praceeds or tl�e party agains��vvhom Borrower has a right �f action in regard t�M i s��l l aneous Pr�ceeds. Borr�wer sha11 be in default if any act�on or prac�ediing, whether civil or criminal, is begun tha�, in Lender's judgment, cauld result �n forfe�tu�-e �f the Prap�erty� or o�her material impairxnen� of Lender's interes� in the Prflperty or rights under this Security Instrurrient. Borrower can cur� such a default by causing the action or praGeeding to be dismissed with a. ruling that, in I,ender's judgment, precludes forfeiture of the Property or other material impairment of��ender's interest in tl�e Praper�}� or rights under this Secur�ty Ins�rument. The praceeds of �ny award c�r claim for damages �hat are attribuzable ta �he impairment of Lender's interest in the Property are hereby ass�gned and shall be paid to L�nder. A��Misc�llaneous Proceeds that are not app�i ed ta rest��ration or repair of the Property shall be appl i�d in the order provided for in Section Z, subjec� to the rights �f any li�nholder w�th righ�s �o Miscellaneous Proceeds that are superior to Lender's rights. 11. Barrow�r Nat ReleaSed; Farbearance By Lenrder Not a Waiver. Extepsion af the time for payment or modif cation of amortizat�on of�:he sums secured by this Security Instrument granted by Lender to BorroWer or a�y Successor in Interest of Borrawer shall not apera�e to release the �iabili�y of Borr�ower or any Su�c�ssors in Interes� of Borrower. t.ender shall no�t be required ta commence proc�edings against any Successor �n Interest of Borrower or t� refuse tc� e�tend ��me f�r payment or o�herwise rnfldify amortizatian of the sums secured by this Securi�y Ins�rument by reasvn of any demand made by the original Borrower �r any S uc cess ors i n I nteres� of B��rrower. A ny f��rbearanCe b� Lender i n exerc i s i n g any r i gh� or remedy inc�uding, without limitation, Lender's acceptance af payments fram third persans, entities or Success�rs i n Interest of B�rrower �r i n amau�ts �ess than t he am�un�then due, sha�� not be a�vai�er af or preclud��h�exercise af any right or remedy. 1Z. Jaint and S��eral Liabi�ity; �a-Grantor; �successors and Assigns Bound, Borrower covenants and agrees that BorrQwer's abl igati ons and 1 i ab i I i ty s hall b�j�i nt and severai. However, any�o- Grant�r: �a� is signing this Security Instrument anly to ��r�gage, grant and con�ey the �o-Grantor's interest �n the Property und�r the terms of tizis Security In��trument; �b} is n�� persona�l� ob�igat�d to pay the sums secured by this Security Instrument; and �c�agree:a�hat Lender and any other Borrower can agree ta extend, modify, forbear or make any �ccommadatiaris with regard to the ��rms of this Security Instrumen��r the Debt Instrument vWithau�th��o-CTrantor's consent. Sub�ect t� the pravisi�ns of Section �7, any Succ�essor in in�erest of Borr�wer who assumes B�rrower's ob��gatiflns under �his 5�curit� Instrument in writing, and is approved b� Lend�r, shall obtain all of Borrower's rights and benef ts under this Secur�ty Ir�strumen�. B�rr�wer sha�� nat be released from Borrower's obligations and iiability under this Secur�ty Ins�:rumen� unless Lender agrees to such re�ease in wr�ting. The co�enants and agreements af this 5ecuri�y Ins�rument shall bind�e�cept as pro�ided in Section �9} and benefit�he successors and assigns �f Lender. 13. Loan Charges, Lender may charge Borrawer ��ees far services perfarrned in connectian with Borrawer's default, far the purpose of prot�:c��ng Lender's� interest in the Property and r�ghts under this Security I nstrument, i ncludi ng, but not t i m ited to, attorneys' fees, pr�perty i ns pecti on and�aluation fe�s, i n regard to any other fees,the absen�e of express au�hority in this 5ecurity Instrument ta char�e a specific fee � Borraw��-Initials �2�14 GuardianDocs �page 8 of 13 pages� NE�los�d-End.lunio�•Lien S�curity Instrument(1?12312��[l} ��#4829-1 G45-645b ' M � �� r ' � � , � ,� � � . � � ti� ��