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200602706 acceleration has occurred, reinstate as provided in Section 19, by cilusing thc action or procccdinu to bc dismisscd with a ruling that, in Lcndcr's judgrncnt prccludcs forfeiture of the Property or other n~aterial impairment of Lender's interest in the Property or rights under this Security Instrument The proceeds of any award or claim I<)r dmnages that are attributable to the impairmcnt of Lender's interest in (hI.; Propcrty arc hereby assigned and shall be paid to Lender. All Misccllaneous Proceeds that are not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forhearance Bv Lender Not a Waive!". Fxtension of thc tinle flll- payment or modi fication of amortization of the sums'secured by this Security Instrument granted by I,ender to Borrower or any Successor in Interest of l3orrower shall not operate to release the liability of Borrower or any Sueccssors in Interest of Borrower. Lendcr shall not be requircd to conllllence proceedings against any Successor in Interest of Borrower or to rl.;fuse to extend timc for payment or otherwise modify amortization of the Sllll1S secured by this Security Instnllllent by reason of any demand made by the original Borrower or any Succcssors in Interest of Borrowcr. Any f(Jrbearance by Lender in exercising any right or remedy ineluding, without limitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount thcn due, shall not be il waiver of or preclude the exercisc of any right or remedy. 13. .Joint and Scvct'al Liahility; Co-signers; Successors and Assigns Bound. BorrO\ver covenants and agrces that Borrower's obligations and liability shall be joint and several. However. any Borrower who co-signs this Security Instrurnent hut does not executc the Note (a "co-signl.;r"): (a) is co-signing this Sl.;curity Instrument only to mortgage. grilnt and convey the co-signer's interest in the Property undcr the terms of this Security Instrument; (b) is not personally obligatcd to pay the sums secured by this Security Instru1l1ent; and (c) agrees that Lender and any other Borrower can agree to extend, modify. forbear or make any accommodations with regard to the terms of this Security Instrtllnent or the Note without the co-sigller's consent. Subjcct to the provisions of Section 1 K, 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 Sl.;eurity Instrument. l3orrower shall not bl.; released from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such n;lease in writing. The covenants and agreernents of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lendcr may charge Borrower fees for services performed in connection with Borrower's det~lUlt, f()r the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including. but not limited to. attorl1(;Ys' 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 chargcs, and that law is finally interprcted so that the intcrest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, then: (a) any such loan charge shall be reduced by the amount nl.;ecssary to reduce the charge to the pcnnitted limit; and (b) any sums already collectcd fi'(JlIl Borrower which exeeedcd permitted Iilllits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or by rnaking a direct payment to l3orrower. 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 l()r under the Note). Borrower's acceptance of any sueh refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Nlltices. All notices given by Borrower or Lender in connection with this Security Instrunlent must be in writing. Any notice to Borrower in cOllneetion with this Security Instnnllent shall be deemed to have been given to Borrowcr when mailed by first class mail or when actually delivered to BorrO\ver's notice address if sent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unlcss 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 Lender of Borrower's change of address. If Lender specifies a procedure f(.lr reporting Borrower's change of address. then Borrowcr shall only report a change of address through that specificd procedure. 0110247846 Initio Is: ~ ()~ 0 .-6(NE) (0407).01 (f> P~e 1 0 of 1 5 Fonn 3028 1/01