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200207531 dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Properly or other material impairmentrif Lender's interest in the Property or rights ender tlus Security Instrument. I he proceeds of any award or claim for damages that are attributable to the impairmcatof Lcndcr's interest ht the Property are l+efely assivKed and shall be paid to Lcndcr. All Misecllanoous Proceeds that are not applied to restoration nr repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the lime for paymentor modification of amortizationof the sums sucuredby this Security hnstiumentgramedby Lender to Borrower or any Successor in Interestol Borrowershall not operateto relcasc(he liability of Borrower or any Successors in Interest of Borrower. Lender shall not be requited to eommeuceproecedmgs against any Successor in Interest of Borrower or to refuse to extend time for payment ur otherwise modify ammtizationof the sums secured by this Security Instrumentby reasoned any demandmadeby the original Borrower or any Successors in Intel cstof Borrower. Any forbeara cclay Lrantra n exercising any right or remedy including, without limitation, Lenders acceptance of payments from third persons, enlilics or Successors in Interestof Borrower r in amountsless than the amountthen 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 Borrower's obligations and liability shall be joint and several. However, any Borrower who co -signs this Security Inslrnmcntbut does not execute the Note (a "co- signer' "): (a) is co- signing this Security Instrumentouly to mortgage, grant and convey the co- signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums securedby this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or makc any accommodations with regard to the terms of this Sccurily Instiumentor the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security last, umentm writing, and is approved by Loader, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be release(] from Borrower's obligations and liability under this Security fnstrumenturdess Lcndcr agnccs to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower'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' foes, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Inslrumcnllo charge. specific fee to Burrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law. If the Loan is suhlect to a law which sets maximum loan charges, and that law is finally inter pretedso that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permitted Iiin iIs, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted firm t; and (fit any xams already collected from Borrower which exceeded permit cd limits will be refunded to Borrower Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. if a refired reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for order the Note). Borrower's acceptanccof any such refund made by direct payment to Borrowerwill constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Burrower or Lender in connection with this Security Inslrumcni must be in writing. Any notice to Borrower in connection with this Sccurily Instrumentshall be decmedto have been given to Borrower when mailed by fist class mail or when actually delivered to Borrower's notice addiess'if sent by other means. Notice to any one Borrower shall constitute notice to all Borrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a subslil etc notice address by notice to Lender. Borrower shall promptly notify Lendcr(if Borrower's change of address. If Lender specifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that speciforl procedure. MFNE7770 (12 /00) / 041 435325 4 i —.i= -MNE) woos. I Form 3026 1101 P