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200316426 accelerationhas occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairmentof Lender's interestin the Propertyor rights under this Security Instrument.The proceeds of any award or claim for damages that are attributableto the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All MiscellaneousProceedsthat are not applied to restorationor repair of the Propertyshall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modificationof amortizationof the sums securedby this Security Instrumentgrantedby Lender to Borrower or any Successor in Interest of Borrower shall not operateto release the liability of Borrower or any Successors in Interestof Borrower. Lendershall not be requiredto commenceproceedingsagainst any Successor in Interestof Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums securedby this Security Instrumentby reason of any demandmade by the original Borrower 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 Successors in Interest 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 Borrower's obligations and liability shall be joint and several. However, any Borrower who co -signs this Security Instrumentbut does not execute the Note (a "co- signer "): (a) is co- signing this Security Instrumentonly to mortgage,grant and convey the co- signer's interestin the Propertyunder 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 make any accommodationswith regard to the terms of this Security Instrument or the Note without the co- signer's consent. Subject to the provisions of Section 18, any Successor in Interestof Borrowerwho assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrumentunless Lender agrees to such release in writing. The covenants and agreementsof this Security Instrumentshall 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' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrumentto charge a specific fee to Borrower shall not be construedas a prohibitionon the charging of such fee. Lendermay not charge fees that 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 interpretedso that the interest or other loan charges collected or to be collected in connection with the Loan exceed the permittedlimits, then: (a) any such loan charge shall be reducedby the amountnecessary to reducethe charge to the permittedlimit; and (b) any sums already collected from Borrower which exceeded permittedlimits will be refundedto Borrower. Lendermay choose to make 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 will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptanceof any such refund madeby direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lenderin connectionwith this Security Instrumentmust be in writing. Any notice to Borrower in connection with this Security Instrumentshall be deemed to have been given to Borrower when mailed by first class mail 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 unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lenderof Borrower's change of address. If Lenderspecifies a procedurefor reportingBorrower's change of address, then Borrower shall only report a change of address through that specified procedure. Initials: -6(NE� (0005 Page 10 of 15 Form 3028 1/01