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200701457 acceleration hus occurred, reinstate as provided in Section 19, by cau::;ing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludl;s forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security In::;trument. The proceed::; of any award or claim for damagl;::; that are attributable to thl; impairment of Lender's interest in the Propcrty are hereby assigned lmd shall be paid to Lender. All Miscellaneous Proceeds that an; not applied to restoration or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; Forbearance 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 Lender to Borrower or any Successor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest 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 rcason 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, Lender's acceptance of payment::; from third persons, entitie::; or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the cxcrci::;1; of any right or rC!llCdy. 13. Joint and Several Liability; Co-,~igners; Successors and Assigns Bound. Borrower covenants and agrees that Borrowcr's obligations and liability shall bc joint and several. Howcvcr, any Borrower who co-signs tbis Security Instrumcnt but does not execute the Note (a "co-signer"): (a) is co-signing this Security In::;trument only to mortgage, grant and convey the co-signer' ::; interest in the Property umier the terms of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Sccurity Instrument; 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 Instrument or the Note without the co-signer's consent. Subject to the provi::;ions of Section IH, any Successor in Interest of Borrower who assumes Borrowds obligations under this Sel5urity Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and bcnefits under this Security Instrument. Borrower shall not be released from Borrowds obligations and liability under this Security Instrument unless Lender agrees to ::;lIch release ill writing. Thc covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender'::; 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 expre::;s authority in this Security In::;trument to charge a specific fee to Borrower shall not be construed a<; 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 Imill charges, and that law is finally interpreted so that the interest or other loan charges coll~cted 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 necessary to reduce the charge to till; permitted limit; and (b) any sunlS already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choos(~ to make this refund by reducing the principal owed under thc Note or by making a dircct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment withOlIC any prepayment charge (whether or not a prepayment charge is provided for under the Notc). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. IS. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must bc in writing. Any 110tice to Borrower in connection with this Security In::;trument shall be deemed to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice addre::;s if ::;ent by other means. Notice to anyone Borrower shall constitute notice to all Borrowers unless 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 for reporting Borrower' ::; change of addre::;s, then Borrower shall only report a change of addre::;s through that specified procedure. 0110264097 Initials: :::J:w.~" G-6(NE) (0407).02 @ P'l'Je 1 0 of 1 5 Fonn 3028 1/01