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200206874 12. Burrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Leader to Borrower or any Successor in Interest of Borrower shall not operate to release the Lability of Borrower or any Successors in Interest of Borrower. Lender shall not be required in commence proceedings against any Successor in Interest of Borrower or to refuse to extend time fur, payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Suecessom in Interest of Borrower. Any forbearance by Lender in exercising any right or comedy including, without limitation, Lender's acceptance of payments from third persons, mtities or Successors in loterest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co- signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrowers obligations and liability shall be joint and several. However, any Borrower who -signs this Security Instrument but does not execute the Note (a "co- signer ") (a) is - signing this Security Instrument only to mortgage, giant and convey the co-signer's interest m the Property under the terms of this Security Instrument, (h) is nut personally obligated to pay the sums secured by this Security Instrument and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note without rise co-signer's consent. Subject in the provisions of Section 18, any Successor is Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Bone covers rights and benefits under this Security Instrument Borrower shall not be released from Borrowers obligations and liability under this Security instrument unless Lender agrees to such release in writing. The covenant and agreements of this Security instrument shall bind (except as provided in Section 20) and benefit the suceeseom and assigns of Lender 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrowers default, for the purpose of protecting Lender's interest in the property and rights under this Severity, treatment, including, but not limited m, attorneys' Love, property inspection and valuation fees. N regard to any other fees, the absence of express authority in this Security Instrument to charge a specific foe to Borrower shall not be constmcd as a pehibifion on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Low. If the Loan is subject to a law which sets maximum loan changes, and that law is finally interpreted so that the interest or other loan charges wlicered or to be collected in connection with the Lean exceed the permitted omits, then: (a) any such loan 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 refunded to Borrower. Lender may choose to all this refund by reducing the principal owed under the Note or by making a direct payment to Borrower if a refund reduces principal, the reduction win be treated as a padal prepayment without my prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrowers acceptance of any such refund made by direct payment to Borrower will constitute a waiver of my right of action Borrower might have arising out of such over charge. 15. Notices. All notices given by Borrower or Lender is connection with this Seemly Instrument must be in writing_ Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered in Borrower's notice address if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. Initials'. ds F' ;� (" 1� ck-604F) swi) Page In of 15 ram 30281/01