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260401628
<br />acceleration has occurred, .reinstate as. provided in Section 1.9, by. causing the action or proceeding -to be
<br />dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material
<br />impairment of Lender's interest in the Property or right's under this Security Instrument. The proceeds of
<br />any award or claim for damages that are attributable to the impairment of Lender's interest in the Property.
<br />are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be
<br />applied in the order provided for in Section 2; .
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
<br />payment or modification of amortization of the sums secured by this Security Instrument granted by Lender
<br />to Borrower or any Successor in Interest of Borrower shall.not operate to release the liability of Borrower
<br />or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings, against
<br />any. Successor in Interest of Borrower or to refuse- to extend time for payment or otherwise modify.
<br />amortization of the sums secured by this Security Instrument by reason of any demand made by the original
<br />Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or
<br />remedy including, without limitation, Lender's acceptance of payments from third persons, entities or
<br />Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or
<br />preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower covenants
<br />and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who
<br />co -signs this Security. Instrument but does not execute the Note (a "co- signer "): (a) is co- signing this
<br />Security Instrument only to mortgage, grant and convey the co- signer's interest in the Property under the
<br />terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security
<br />Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
<br />make any accommodations with regard to the terms of this Security Instrument or the Note without the
<br />co- signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes
<br />Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain
<br />all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from
<br />Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in
<br />writing. The covenants and agreements of this Security Instrument shall bind (except as provided in
<br />Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with
<br />Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this
<br />Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees.
<br />In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific
<br />fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge
<br />fees that are expressly prohibited by this Security Instrument or by Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so
<br />that the interest or other loan charges collected or to be collected in connection with the Loan exceed the
<br />permitted limits, then: (a) any such loan. charge shall be reduced by the amount necessary to reduce the
<br />charge to the permitted limit; and (b) any sums already collected from Borrower which . exceeded permitted
<br />limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal
<br />owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the
<br />reduction will be treated as a partial prepayment without any prepayment charge (whether or not a
<br />prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by
<br />direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out
<br />of such overcharge.
<br />15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument
<br />must . be in writing. Any notice to Borrower in connection with this Security Instrument shall_ be deemed to
<br />have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's
<br />notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers
<br />unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address
<br />unless Borrower has designated a substitute notice' address by notice to Lender. Borrower shall promptly
<br />notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's
<br />change of address, then Borrower shall only report a change of address through that specified procedure.
<br />Initials: .. .-
<br />-61NE1 100051.01. Page 10 or 15 Form 3028 1/01
<br />4'
<br />260401628
<br />acceleration has occurred, .reinstate as. provided in Section 1.9, by. causing the action or proceeding -to be
<br />dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material
<br />impairment of Lender's interest in the Property or right's under this Security Instrument. The proceeds of
<br />any award or claim for damages that are attributable to the impairment of Lender's interest in the Property.
<br />are hereby assigned and shall be paid to Lender.
<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be
<br />applied in the order provided for in Section 2; .
<br />12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for
<br />payment or modification of amortization of the sums secured by this Security Instrument granted by Lender
<br />to Borrower or any Successor in Interest of Borrower shall.not operate to release the liability of Borrower
<br />or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings, against
<br />any. Successor in Interest of Borrower or to refuse- to extend time for payment or otherwise modify.
<br />amortization of the sums secured by this Security Instrument by reason of any demand made by the original
<br />Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or
<br />remedy including, without limitation, Lender's acceptance of payments from third persons, entities or
<br />Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or
<br />preclude the exercise of any right or remedy.
<br />13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower covenants
<br />and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who
<br />co -signs this Security. Instrument but does not execute the Note (a "co- signer "): (a) is co- signing this
<br />Security Instrument only to mortgage, grant and convey the co- signer's interest in the Property under the
<br />terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security
<br />Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or
<br />make any accommodations with regard to the terms of this Security Instrument or the Note without the
<br />co- signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes
<br />Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain
<br />all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from
<br />Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in
<br />writing. The covenants and agreements of this Security Instrument shall bind (except as provided in
<br />Section 20) and benefit the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with
<br />Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this
<br />Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees.
<br />In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific
<br />fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge
<br />fees that are expressly prohibited by this Security Instrument or by Applicable Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so
<br />that the interest or other loan charges collected or to be collected in connection with the Loan exceed the
<br />permitted limits, then: (a) any such loan. charge shall be reduced by the amount necessary to reduce the
<br />charge to the permitted limit; and (b) any sums already collected from Borrower which . exceeded permitted
<br />limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal
<br />owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the
<br />reduction will be treated as a partial prepayment without any prepayment charge (whether or not a
<br />prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by
<br />direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out
<br />of such overcharge.
<br />15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument
<br />must . be in writing. Any notice to Borrower in connection with this Security Instrument shall_ be deemed to
<br />have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's
<br />notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers
<br />unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address
<br />unless Borrower has designated a substitute notice' address by notice to Lender. Borrower shall promptly
<br />notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's
<br />change of address, then Borrower shall only report a change of address through that specified procedure.
<br />Initials: .. .-
<br />-61NE1 100051.01. Page 10 or 15 Form 3028 1/01
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