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s i <br />Y. ... 1: w .n..... ` v 3 .j• t h f`s + • �`4 i t4f}� ?` '>,FN} A. E .. <br />10220._ <br />i <br />11. Successors and Assigns Bound; Joint and Several <br />Liability; Cc- signers. The covenants and agreements of this <br />Security Instrument shall bind and benefit the successors and <br />assigns of Lenders and Borrowers, subject to the provisions of <br />paragraph 17. Borrowers' covenants and agreements shall be joint <br />and several. Any Borrower who co -signs this Security Instrument <br />i but does not execute the Note: (a) is co- signing this Security <br />Instrument only !,o mortgage, grant and convey that Borrower's <br />interest in the Property under the terms of this ecurity <br />Instrument; (b) is not personally obligated to pay sums <br />secured by this Security Instrument; and (c) agrees that L nders <br />and any other Borrower may agree to extend, modify, forbear or <br />make any accommodations with regard to the terms of this Security <br />Instrument or the Note without that Borrowers' consent. <br />12. Loan Charges. If the loan secured by this Security <br />Instrument is subject to a law which sets maximum loan charges, <br />and that law is finally interpreted so that the interest or other <br />loan charges collected or to be collected in connection with the <br />loan exceed the permitted limits, then: (a) any such loan charge <br />shall be reduced by the amount necessary to reduce the charge to <br />the permitted limit; and (b) any sums already collected from <br />Borrowers which exceeded permitted limits will be refunded to <br />Borrowers. Lenders may choose to make this refund by reducing <br />the principal owed under the Note or by making a direct payment <br />to Borrowers. If a refund reduces principal, the reduction will <br />be treated as a partial prepayment without any prepayment charge <br />under the Note. <br />13. Legislation Affecting Lender's Rights. If enactment or <br />expiration of applicable laws has the effect of rendering any <br />provision of the Note or this Security Instrument unenforceable <br />according to its terms, Lenders, at their option, may require <br />immediate payment in full of all sums secured by this Security <br />Instrument and may invoke any remedies permitted by paragraph 19. <br />If Lenders exercise this option, Lenders shall take the steps <br />specified in the second paragraph of paragraph 17. <br />14. Notices. Any notice to Borrowers provided for in this <br />Security Instrument shall be given by delivering it or by mailing <br />it by first class mail unless applicable law requires use of <br />another methoc.. The notice shall be directed to the Property <br />address or any other address Borrowers designate by notice to <br />Lenders. Any notice to Lenders shall be given by first class <br />mail to Lenders' address stated herein or any other address <br />Lenders designate by notice to Borrowers. Any notice provided <br />for in this Security Instrument shall be deemed to have been <br />given to Borrowers or Lenders when given as provided in this <br />paragraph. <br />15. Governing Law; Severability. This Security Instrument <br />shall be governed by federal law and the law of the State of <br />