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200411991 DOC M #n 0008534127711004 the sums secured by this Security Instrmnent by reason of any demand made by the original Borrower or any Successors In Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without lfinftation, Lender's acceptance of payments from third persons, entitles or Sucoeswre in interest of Borrower or in amounts less then the amount then due, shall not be a waiver of or preclude to exercise of arty right or remedy. 13. Joint aid Several Liability; Co-lgners; Suneassars and Assfpn Bond. Borrower covenants and agrees ibat Bonowa's obligations and liability shall be joint and several. However, any Borrower who co-sign this Security Instrument but does sot execute the Note (a "co-signer"): (e) is co- elgning this Security Instrument only to mortpM great and convey the co- signer's imeren in the Property under the tams of this Security Instrument; (b) is not personally obligated to pay the sutras secured by this Security Instrument; and (a) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the tern of this Security Instrument or the Note witbut the oo4ignaes Consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and Is approved by Lender, shall obtain all of Borrower's right and benefits under this Security inst umenk Borrower shall not be released fiem Borrower's obligations and liability under this Security Instrument unless Linder agrees to such release in writing. The covenants and Agreements of this Security Instrument shall bind (except as pmvided in Section 20) and benefit the successors sod assigns of Lender. 14. Laos Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lenders fnterest in the Property and rights under this Security Instrument, Including, but not limited to, attorneys' fees, property inspection and valuation fbea. In regard to any other fees, the absence of axpras authority in thin Security Instrument to charge a specific fee to Borrower shall not be eoaxtrued as a prohibition on the charging of such fix. Lender may not charge fees that am expressly prohibited by this Security Inhument or by Applicable Law. H the Loan is subject to a law which sets maximum loan charges, and that law is finally inWrimted so that the intent or other loan charges colleoted or to be collected in connection with the Loan sunned the permitted limits, then; (a) any such Ioan charge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be reflmded to Borrower. Leader may choose to make this reflmd by reducing the principal owed under the Note or by making it direct payment to Borrower. If* refund reduces principal, the reduction will be tressed an a partial prepayment without any prepayment charge (whether or not a prepaymaet charge is provided for under the Note). Borrowa's acceptance of any seb refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower tnigbt bove arising out of such overcharge. 1S. Notices. AD mikes given by Borrower or Lender in connection with this Security fnstrument must be in writing. Any notice to Borrower In connection with this Security Instrument shall be deemed to have been given to Borrower when msibd by first class marl or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unlees Applicable Law expressly requires otherwise. The notice address shall be the Property Address union Borrower bas designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Bonowa's change of address. If Leader apecifies a procedure far reporting Borrower's change of address, then Borrower shall only report a ddhmp of address through that specified procedure. There may be only am designated notice address under this Security instrument at my we times Any notice to Lender shall be given by delivering ft or by milling it by first can mail to Lender's address stated herein unless Lender Iran de ignabed another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lander. If any notice required by tide Sscurky Instrument is also required under Applicable Law, the Applicable Law requirement will satiety duo corresponding requirement under this Security Instrwuenk 16. Governing Law; Sevenbllity; Rules of Constrnedou. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained m this Security Instrument are subjeot to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be construed an a pmibition against agreement by contract. In the event that any provlsiah or clause of this Security Instrument or the Note conflicts with Applicable Law, such conflict shall not affect other provision of this Security Instrument or the Note which can be given d1bct without the confifcting provision. As used in this Security Instrument (a) words of the masculine gander stall mean and include corresponding neuter wads or words of the feminine gender, (b) words In the singular shall mean and include the plural and vice versa; and (c) the word " may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower &hall be given one copy of the Note and of this Security Instrument 18. Transfer of the Property or a Beneficial Iria-srt in Borrower. As used in this Section 18, "Intense in the Property" means any legal or bmeifcal interest in the Property, Including, but not limited to, those beneficial interests usnsfisrmd in a bond for dead, contract for deed, installment ales oonftw or esorow agreement. the intent of which is the transfer of tide by Borrower ct a bture date to a purchaser. /► //�) ift.qM {0601 CM. (011Y1) Pps a d 11 Form 1