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200601850 DOC TD #: 00012506320602006 the sums secured by this Secmity Illflll\lInent by reason of any demand made by Ihe 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 paymcnts from third pcrsOlls, cntilies or Successors in Interest of Borrower or in amounts less than the amountthell due, shall not be a waiver of or preclmJe the exercise of any right or remedy. 13. ,Joint Hnd St'vernl Liability; ClI-signers; SUCCesSOl'S nud Assigns Uound. Borrower covenanL~ nnd agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Security Instrument hut does not execute the Note (n "co-signer"): (n) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's inlerest in the Property under the tcrms of this Security Instrument; (b) is not per,~onnlly obligatcd to pay the sums secured by this Securily Instrument; and (c) agrees that Lender and any other Borrower can ngree to extend, modify, forbear or make any accommodations with regard to the terms of Ihis Security Instrument or the NOlC without the co-signer's consclI\. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instrument in writing, and is approvcd by Lcnder, shall obtain all of Borrower's righls and benefits under this Sccurity Instrument. Borrowcr shall not be rclcased from Borrowcr's obligations and liability under this Sceurity Instrument unless Lendcr agrees to such rclea~e in writing. The covcnants and agreements of this Security Instrument shall bind (except as providcd in Section 20) and benefit the successors and assigns of Lender. 14. LOllll Chal'ges. Lender may charge Borrower fees for services perfonncd in connection with Borrower's dcfault, for the purpose of protecting Lcndcr's intcrest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fecs. property inspection and valuation fees. In regard to any other fees, the absence of express authorily in this Sccurity InstnnTIentto charge a specific fee to Borrower shall not be constmcd as a prohibition Oil the charging of such fee. Lcnder may not charge fees that arc cxprcssly prohibitcd by this SecUlity Instrumcnt or by Applicable Law. If the Loan is sub.iect to a law which scts maximum loan charges, and that law is finally interprcted so that the interest or other loan charges collected or 10 be collected in connection with the Loan excced thc penniued limits, then: (a) any such loan charge shall be reduccd hy thc amount necessary to reducc the charge to the permiued limit; llnd (b) llny sums already collected from BOITower which exceeded penniUcd limits will bc refunded to Borrower. Lcnder may choose to make this refund by reducing the principal owcd under thc Note or by making a direct paymcntto Borrower. If a refund reduces principnJ, the rcduction will be trcatcd as a pal1ial prepaymcnt without any prcpaymcnt charge (whethcr or nol a prcpayment charge ir; provided for under the Note). Borrower's acceptance of any such refund mnde by direct payment to Bormwer will constitute a waiver of any right of action Borrower might have arising out of such overcharge. IS. Notices. All notices given by Borrower or Lender in conneclion with this Sccurity Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall bc dcemed 10 have bcen given to Borrowcr when mailcd by firr;t class mail or when nctually delivercd to Borrower's noticc address if sent by othcr mcans. Noticc to anyone Borrowcr shall eonslilutc notice to nil Borrowers unless Applicable Law expressly requires otherwise. The noticc nddrcss r;hall be the Propcrty Address unless Borrowcr has designatcd a substitute nolice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifics n procedure for reporting Borrower's change of nddress, thcn Borrower shall only report a change of address through that specified procedure. There may be only one designatcd notice address undcr this Security 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 nOlice to Borrower. Any noticc in conneclion with this Security InslnnTlent shall not be deemed to havc becn given 10 Lender until actually rcceivcd by Lender. If any notice required hy this Security Instrumcnt is also rcquircd undcr Applicable Law the Applicable Law requirement will satisfy the corresponding requirement. under this Security ImannTlent. 16. Governing Law; Severability; Rules IIf Construdion. This Security Instrument shall he governcd by fedcral law and the law of the jurisdiction in which the Properly is locatcd. All rights Hnd obligations conlained in this Security Instrument are subjcct to nny reqIJiremerHs and limitations of Applicable Law. Applicable Lnw might explicitly or implicitly allow the panics to agrce by cont.ract or it might be silelll, but such silence shall not bc construed as a prohihition against agreement by contract. .In the cvcnt that any provision or clause of this Sccurity Instrumcnt or the Note conflicts with Applicable Law, such conflict shall nol. affcct other provisions of this Security Instrument or the Note which can hc given effcct without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gcnder shall mean and include corresponding neuter words or words of the feminine gender; (11) words in the singular shall mean lInd include the plural and vice vcrsa; and (c) the word "mny" givcs sole discretion without any obligation 10 tuke uny action. 17. norrower's Copy. Borrower shall be given one copy of thc Note and of this Security Inslrument. 18. Transfer of the Property or II )lcnelicilll Interest in Borrower. As used in this Section 18, "Intcrest in thc Property" means any legal or beneficial interest in the Property, including, but not Iimiled to, those beneficial interests transferred in a bond for decd, contract for dced, installment sales contract or escrow agrccmcnt, thc intcnt of which is the transfer of tille by Borrower at a future datc to a purchascr. ~ -6A(NE) (0407) CHL (08/05) Page 8 of 11 Form 3028 1/01