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200603224 acccleration has occurred, reinstate as provided in Section Ill. by causing the action or proceeding to he dismissed with a ruling that in Lender's judgment precludes f(l1+eiture of the Property or other material impairment of Lendcr's interest in thc Property or rights under this Security Instrumcnt. The procccds of any a\vard or claim f()r damages that arc attrihutable to the impairment of Lender's interest in the Propcrty arc hereby assigncd and shall be paid to Lcnder. All \1iseellaneous Proceeds that arc not applied to rcstoration or repair of the Propcrty shall be applied in thc order providcd f()r in Scction 2. 12. BOITowel" '\lot Released; Forhearance By Lender '\lot a "iaiver. Extcnsion of the time f()r payment or modification of amortization ofthe sums securcd by this Security ]nstrumcnt granted by Lcnder to Borrower or any Succcssor in Interest of Borrower shall not opcrak to release thc liability of Borrower or any Successors in I nterest of Borrower. Lender shall not be required to eomnlenee proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwisc rnodify amortization of the sums secured hy this Security I nstrullIent by reason of any demand IlIade by the original Borrower or any Successors in Interest of Borrower. Any f()rbearance by Lendn in exercising any right or remedy including, without lirnitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrmver or in amounts less than thl: illnount then due, shall not bl: a waiver of or prl:c1ude the exercise of any right or reml:dy. O. .Joint and Several Liahility; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that BOlTOWl:r'S obligations and liahility shall be joint and several. However, any Borro\Ner who co-signs this Sel:llrity Instrument but docs not executl: the Noll: (a "co-signer"): (a) is co-signing this Security Instrument only to mortgagc, grant and conVl:Y the co-signl:r' s interest in thl: Property under the terms of this Sel:urity Instrument; (b) is not personally obligatcd to pay the sums secured by this Sl:curity Instrumcnt; and (c) agrel:s that Ll:nder and any other Borrown can agree to l:xtl:nd, modify, f()rhear or make any accommodations with regard to the terms of this Seeurity Instrument or thl: Note without the eo-si~ner's conSl:nt ~Subjl:d to the provisions of Section 1 N, any Suecl:ssor in Interest of Borrower who aSSUllll:S Borrower's obligations unckr this Security Instrument in writing, and is approved by Ll:lllkr. shall obtain all of Borrower's rights and benefits unckr this Sel:llrity Instrument. Borrower shall not be released Ii-om Borrower's obligations and liability under this Security Instrument unless Lender agrl:l:S to such rl:leasl: in writing. Thl: COVl:nants and agrel:nlents of this Security Instrument shall bind (except as provided in Sedion 20) and bl:nd'it thl: SUl:Cl:Ssors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for servil:l:s perfOrllll:d in connection with Borrower's deELult. fix thc purpose of protecting Ll:nder's interest in the Propl:rty and rights under this Security Instrument.. induding, but not limited to, attornl:Ys' fees, propl:rty inspl:ction and valuation l(;es. In regard to any other kl:s. the absence of l:xpress authority in this Security Instrument to chargc a specific l(;e to Borrower shall not be eonstrul:d as a prohibition on the ebarging of such fee. Lender may not charge fees that a1T exprl:ssly prohibill:d hy this Security Instrument or by Applicabk Law. If tlK lAHUl is subject to a law whidl sets maximum loan charges, and that law is finally intl:rpreted so that the interest or other loan chargl:s collected or to be colledl:d in connection with the Loan l:xcel:d the permitted limits, thl:n: (a) any sudlloan chargl: shall be reducl:d by the amount necessary to reduce tlK l:hargl: to the perInitted limit; and (b) any sums already colleckd from Borrower which l:xcl:l:ded pcrmittl:d limits will IK refunded to Borrower. Ll:nder 11Iay choose to Inake this ITfund by reducing the principal owed under thl: Notl: or by making a direct payml:l1t to Born)wl:r. ]1' it rdlll1d rl:dlKes principal. the reduction will bl: treated as a partial prepayml:nt without any prepaYl11l:nt charge (whether or not a prepayml:nt chargl: is provii.kd f()]' under tk Note). Born)wl:r's acceptanl:l: of any SUd1 rd'und madc by direct payml:nt to Borrown will constitutl: a waiver of any right of action Borrower might havc arising out of such oVl:ITharge. 15. '\Iotiees. All notiel:s givl:n hy Borrower or Lender in connection with this Sl:l:urity Instnll1Knt must bt in writing. Any noticc to Borrower in connl:dion witl1 this Sl:curity Instrument shalll}l: dl:l:mcd to have heen givl:n to Borrower whl:n mailed by first dass mail or \vhen actually delivcred to Borrowl:r's notil:C addrl:ss if sent by other means. NoticT to anyone Borrower shall l:onstitute notil:l: to all Borrmvers nn kss Appl icable Law l:xpressly requires otherwise. Thl: notice addlTss shall be the Property Addrl:ss unkss Borrower has designatcd a substitute noticl: address by noticT to L.enckr. Borrowcr shall prornptly notify Lender of Borrower's changl: of addlTss. If Lender specifll:s a procl:dure for ITporting Borrowd s dJangc of addlTss. then Borrowl:r shall only report a changl: of addrl:ss through that spl:cified proceduIT. 0110247970 Inl1,els: S~ S-6(NE) (0407)01 <R) P,,"e 1(1 af 1 S FOnT! 3028 1/01