200602264 - Laserfiche WebLink

Browse

200602264 acceleration has occurred, reinstate as provided in Scction 17, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfciturc of the Property or other material impairment of Lcnder's interest in the Property or rights undcr this Security Instrument. Thc proceeds of any award or claim for damages that are allributable to the impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Procecds that are not applied to restoration or rcpair of the Property shall be applied in the ordcr provided forin 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 securcd by this Security Instrument granted by Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Intcrcst 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 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, Lcnder'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 waivcr of or preclude the exercise of any right or remedy. II. .Joint and Several Liability; Co-signers; Successors aod 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-signer's interest in the Property under the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to thc terms of this Security Instrument or the Note without the co-signer's consent. Subject to thc 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 benetlls under this Security Instrument. Borrower shall not be released from Borrower's obligations and liability undcr this Security Instrument unless Lender agrees to such rclease in writing. The covenants and agreements of this Sccurity Instrument shall bind (cxcept as provided in Section 18) and benefit the successors and assigns of Lender. 12. Loan Charges. Lendcr may charge Borrower fces 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 Instrument to charge a specific fee to Borrower shall not be eonstrucd as a prohibition on the charging of such fee. Lendcr may not charge fees that are expressly prohibitcd by this Security Instrumcnt 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 collccted in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to rcducc the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded pennilled limits will be refunded to Borrowcr. Lendcr may choose to make this refund by reducing the principal owed undcr the Note or by making a direct payment to Borrower. If a rcfund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment chargc is provided for under the Notc). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waivcr of any right of action Borrower might have arising out of such 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 dclivered to Borrower's notice address if sent by othcr means. Notice to anyone Borrower shall constitute notice to all Borrowers unlcss Applicable Law expressly requires othcrwise. The notice addrcss shall be the Property Address unless Borrowcr has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifics a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address through that spccified procedure. There may be only one designated notiec address under this Security Instrument at any onc 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 notice in connection with this Security Instrument shall not be deemed to have been given to Lender until actually received by Lendcr. If any notice required by this Security Instrument is 111111111I111111111111 11111111I11111111I1111111111 35586733 Psge 6 of 10 NE-2040-0805