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20030832. ,cceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be ;ismisscd with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material mpairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of .fly award or claim for damages that are attributable to the impairment of Lender's interest in the Property ..re hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be pplicd in the order provided for in Section 2. 2. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for :aymcnt or modification of amortization of the sums secured by this Security Instrument granted by Lender Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower )r any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against ,ny Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify mortization of the sums secured by this Security Instrument by reason of any demand made by the original .3orrower or any Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entities or .,uccessors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or reel udc the exercise of any right or remedy. 13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower covenants :ud aorues that Borrower's obligations and liability shall be joint and several. However, any Borrower who o- signs. this Security Instrument but does not execute the Note (a "co- signer "): (a) is co- signing this ,ccurit Instrument only to mortgage, grant and convey the co- signer's interest in the Property under the arms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security ustrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or rlakc any accommodations with regard to the terms of this Security Instrument or the Note without the o- si,-ncr's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes 3orrowcr's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain Al of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from 3orrower's obligations and liability under this Security Instrument unless Lender agrees to such release in vritiug. The covenants and agreements of this Security Instrument shall bind (except as provided in ,ectiou 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with .3orrower's default, for the purpose of protecting Lender's interest in the Property and rights under this security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. n rcgard to any other fees, the absence of express authority in this Security Instrument to charge a specific cc to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge ees if, It are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so hat the interest or other loan charges collected or to be collected in connection with the Loan exceed the )ermitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the harge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted units will be refunded to Borrower. Lender may choose to make this refund by reducing the principal ,,wed udder the Note or by making a direct payment to Borrower. If a refund reduces principal, the eduction will be treated as a partial prepayment without any prepayment charge (whether or not a ,)repayment charge is provided for under the Note). Borrower's acceptance of any such refund made by lirect payment to Borrower will constitute a waiver of any right of action Borrower might have arising out ,f such overcharge. . Notices. All notices given by Borrower or Lender in connection with this Security Instrument nust be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to save keen given to Borrower when mailed by first class mail or when actually delivered to Borrower's (oti('e address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers inle:;s Lpplicable Law expressly requires otherwise. The notice address shall be the Property Address mless :wrrower has designated a substitute notice address by notice to Lender. Borrower shall promptly (otify ,.ender of Borrower's change of address. If Lender specifies a procedure for reporting Borrower's hangc of address, then Borrower shall only report a change of address through that specified procedure. Initials: -6NE) (0005) Page 10 of 15 Form 3028 1/01 N �