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200605016 B. Borrower Not Released; Forbeeranca By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security Instrument granted by Lendar to any successor in interest of Borrower shall not operate to release the liability of the original Borrower or Borrower's successors in interest. Lender shall not be required to commence proceedings against any successor in interest or refuse to extBnd time for payment or otherwise modify amortization of the sums secured by this SBcurity Instrument by reason of any demand made by the original Borrower or Borrower's SUCCBSsors in interest. Any forbearance by Lender in exercising any right or remedy shall not be a waiver of or preclude the exercise of any right or remedy. 9. Successors and Assigns Bound; Joint and Several Liability; Co-signers. The covenants and agreements of this Security Instrument shall bind and benefit the successors and assigns of Lender and Borrower, subject to the provisions of paragraph 14. Borrower's covenants and agreements shall be joint and several. Any Borrower who co.signs this Security InstrumBnt but has no personel liability under the Contract: la) is co-signing this Security Instrument only to mortgege, grant and convey that Borrower's interest in the Property under the terms of this Security Instrument; Ib) is not personally obligated to pay the sums secured by this Security Instrument; and Ic) agrees that Lender and any other Borrower may agree to extend, modify, forbeer or make any accommodations with regard to the terms of this Security Instrument or the Contract without that Borrower's consent. 1 D. Loan Charges. If the loan secured by this Security Instrument 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 collected in connection with the loan exceed the permitted limits, then: la) any such charge shall be reduced by the amount necessary to reduce the chargB to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Contract or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment under the Contract. 11. Notices. Any notice to Borrower provided for in this Security Instrument shall be given by delivering it or by mailing it by first class mail unless applicable law requires use of another method. The notice shall be directed to the Property Address or any other address Borrower designates by notice to Lender. Any notice to Lender shall be given by first class mail to Lender's address stated herein or any other address Lender designates by notice to Borrower. Any notice .provided for in this Security Instrument shall be deemed to have been given to Borrower or Lender when given as provided in this paragraph. 12. Governing Law; Severability. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Security Instrument or the Contract conflicts with applicable law, such conflict shall not affect other provisions of this Security Instrument or the Contract which can be given effect without the conflicting provision. To this end the provisions of this Security Instrument and the Contract are declared to be severable. 13. Borrower's Copy. Borrower shall be given one conformed copy of this Security Instrument. 14. Transfer of the Property or a Beneficial Interest in Borrower. If all or any part of the Property or any interest in it is sold or transferred (or if a beneficial interest in Borrower is sold or transferred and Borrower is not a natural person) without Lender's prior written consent, Lender may, at its option, require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be exercised by Lender if exarcise is prohibited by federal law as of the date of this Security Instrument. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a period of not less than the minimum number of days established by applicable lew from the date the notice is delivered or mailed within which Borrower must pay all sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration of this period, Lender may invoke any remedies permitted by this Security Instrument without further notice or demand on Borrower. 15_ Borrower's Right to Reinstate. If Borrower meets certain conditions, Borrower shall have the right to have enforcement of this Security Instrument discontinued at eny time prior to the earlier of: (a) 5 days lor such other period as applicable law may specify for By initialing, I acknowledge this is page 4 of 7 of the Deed of Trust. Initials Initials Initials Initials @ topyrioht tomplilnco Syotom" Inc. 1994,1995,1007.1999.2004 ITEM423NEl4 104111 PIO.4 ot 7 www.f:ompliuncu:sy.sll1ms.com 800.989.8622 F.. 616.958.1888