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