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acceleration has occurred, reinstate as provided in Section 17, by Cau~gqhRc~0~~r2e~i! to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 10. Borrower 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 grantcd by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time tor 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 Successors in Interest of Borrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments trom third persons, entities ur 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 ur remedy. 11. 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 Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signcr's interest in the Property under the tenns of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lcnder and any other Borrower can agree to extcnd, modify, forbear or make any accommodations with regard to the terms of this Security Instrument ur the Note without the co-signer's cunsent. Subject to the provisions of Section 16, any Successor in Interest of Borrower whu assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borruwer's rights and benefits under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 18) and benefit the successors and assigns of Lender. 12. 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 nut limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific fee to Borrower 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 subject to a law which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pennitted limits, then: (a) any such luan 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 make this refund by reducing the principal owed under the Jl.!ote 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 fur under the Note). Borrower's acceptance of any such refund made by direct payment to Borruwer will constitute a waiver of any right of action Borrower might have arising out uf such uvercharge. 13. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Burrower 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 to Borrower's notice address if sent by other means. Notice to anyone Borrower shall consti tute notice to all Borrowers unless Applicable Law expressly requires otherwise. The nutice address shall be the Property Address unless Borrower has designated a substitute nutice address by notice to Lender. Borrower shall promptly notify Lendcr of Borrower's change of address. If Lender specifies a procedure for reponing Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There may be only une designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it ur by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notice in connection with this Sccurity Instrument shall not be deemed to have been given to Lender until actually received by Lender. If any nutice required by this Security Instrument is 1111111111111111111111 1111111111111111111111111111 38824849 Page a of 10 NE-2040-1105