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200600585 acccleration has occurred, reinstate as provided in Section 17, by causing the action or proceeding to be dismissed with a ruling that, in Lcnder's judgmcnt, precludes forfeiture of the Property or other material impairment of Lendcr's interest in the Property or rights under this Security Instrumcnt. The procccds of any award or claim for damages that arc attributablc to the impairmcnt of Lender's interest in thc Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that arc 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 modit1cation of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any Successor in Intcrest 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 for payment or otherwise modify amortization of the sums secured by this Seeurity Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any forbearanee 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. 11. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower eovenants and agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who eo-signs this Seeurity Instrument but does not exeeute the Note (a "eo-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligatcd to pay the sUlns secured by this Security Instrument; and (e) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any aeeommodations with regard to the terms of this Seeurity Instrument or the Note without the co-signer's eonsent. Subject to the provisions of Section 16, any Successor in Interest of Borrower who 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 Seeurity Instrument. Borrower shall not be released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such rclease in writing. The eovenants and agreements of this Seeurity Instnnnent shall bind (except as provided in Section I R) and benefit the successors and assigns of Lender. 12. Loan Charges. Lender may charge Borrower fees for serviees perfom1ed in connection with Borrower's default, for the purpose of proteeting 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 Seeurity Instrument to eharge a specific fee to Borrower shall not be construed as a prohibition on the charging of sueh fee. Lender may not charge fees that are expressly prohibited by this Seeurity Instrument or by Applieable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is tlnally interpreted so that the interest or other loan charges eolleeted or to be colleeted in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to rcduce the charge to the permitted limit; and (b) any sums already eollected tl'om Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the prineipal 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 acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of sueh overcharge. 13. Notices. All notices given by Borrower or Lender in connection with this Security 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 to Borrower's notice address if sent by other means. Notiee to anyone Borrower shall constitute notice to all Borrowcrs unless Applicable Law expressly requires otherwisc. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's ehange of address. If Lender specifies a proeedure for reporting Borrower's ehange of address, then Borrower shall only report a change of address through that specified procedure. There may be only one designated notice address under this Seeurity Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's address stated herein unless Lender has designated another address by notice to Borrower. Any notiee in connection with this Security Instrument shall not be deemed to have been given to Lender until actually reeeived by Lender. If any notice required by this Security Instrument is 111111111111 11111 11111 111111111111111 11111 11111111 72323501 Page 6 of 10 NE-204o-110S