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201503433 7 2. Borrower Not Released; Farbearance By Lender Not a Waiver. Extension of the time for payxnent or mod'rfication of aFnartization af the sums secured by t�is Security Ir�strument granted by Lendez to Bozzowe�r or any Successor in.�te�resE o£Boz�rower shall not operate to release the liability of Borrower or any 5uccessors in Tnterest of Borrower. �.ender sba11 not be rec�ui.�red to commence proceedings against any S�zccessor in Interest of Borrower or to refuse to extend rime far paymenx or otherwise modify axx�.ortization of the sums secured by this Security Insizuzxaez�.t by reason of any demand made by the originzl Borrower or any S�xccessors in Interest of Borrower. Any forbearance by Lender in exercisixxg any right or remedy incIudzng, without lixnitation, Lezzder's acceptance of payxnents from third persons, enti.ties or Successars in Interest of Borrovver or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any rig�t or remedy. 13. .foint and Several Liability; Co-signers; Successors and Assigns Sau�d. Borrower covenants aarzd agrees that Borrower's obligarions and liability sha11 be joint ax�d several. However, any Borrower who co-signs tlus Security Instrurnent but does not execute the Note{a"co-signer"): (a) zs co-si.gning this Security�struz�ent only to�xortgage, grant and convey the co-signer's interest in the 1'roperty undez the terms of this Security Instrument; (b) is nat personally obligated to pay the su�ns secured by this Security Instrument; and(c) agrees that Lender and any other Borro�arer can ab ee to extend, modify, forbear ox xziake any accommodations with.regard to the terms of this Sect�xi#y Instruanent or the Note without the co-signer's consent. 5ubject to�Iie provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under tPiis Security Jnstrument izz wri.ting, arid is approved by Lender, shall obtain all of Borrower's rights and benefits under rhis Security Instrument. Sorrower shall not be releasad from Borrower's obligatio�s and liability under this Security Instrument unless Len�er agrees to such release in writing. The covenant3 and a�eements of this Security�Zstrunt�.ent shall bind(except as provided in Section 20)and benefit the successors and assigns of Lender. 'f 4. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrowez�'s defau.�t, for the pu�pose of protecting Lender's interest in the Property and riglzts under this 5ecttrity Instzumexat, including, but not li�nited ta, attorneys' fees, properiy inspection and valuation fees. In regard to any other fees, the absence of e;�press authority in this Security Tnstrunient to charge a specific fee to Borrower shali not be constn�ed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security TnstrumenY or by Applicable Law. If the LQan is subject to a law which sets maximum loan charges, and that law is �ally interprated so tkaat the interest or otIser loan chaz�ges collected or to be collected in connection with the Loact exceed the pern3itted.lunits, thez�: {a} any such loan charge shall be reduced by the aznount necessary to reduce the charge to the permitted limit; and{b) any swns already collected from Borrower which e�:cee�ed.permi�ed limits will be refunded.to Bazxowe�r. Lender may choose to�xaal�e this refi�d by reducing the principal awed under the Note or by making a du�ect payment to Borrower. Tf a refun.d reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge(whe�fier or not a prepayment charge is provided foz�u�der�t�e Note}. Borrower's acceptance of any such refiu�d made by diract payment to Borrower will constitute a waiver of any right of action Barrower might have arising out of such overcharge. 15. Notiees. AII notices given by Sorrower ar Lendez�irz caxu�ection with tlzis Security Instruznent no.�.st be izx wri#iuza. Any notice to Borrawer in connection wi�h this Securi.ty Tnstrument shall be deemed to have been given to Borrower when marled by first class mail or when actually delivered to Borrawer's notzce addz�ess if sent by other means. Notzce to any ane Borrower sha11 cans#itute notice to all Borrawers uniess Appli.cable Law expressly requires otherwise. The notice address shall be the Property Addxess�xn�ess Bozx�ower has zaoasszz N�ER4SKq-Sfngle Family-Fannie M aelFreddie Mac€JNIFORM IHSTRUM EfJT Form 3028 i 101 VM P� VM P6{N E}(1302) Woliers Kluwer Fnsncial Services Page 11 of 97