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200702912 DOC 1D #: 00016552167503007 the sums secured by this Security Instrument by reason of any demand made by the origimtl 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 payments from third persons, entities or Successors in Intercst of Borrower or in amounts less than the a010unt then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several UabUJty; Co-sIgners; Suecessors aud Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint aJJd several. However, any Borrower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instrument, (b) is not personally obligated to pay the sums secured by this Security Instrument; and (c) agrees that L<mder and any other Borrower ClIn agree to el'.1end, 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 provisions of Sootion 18, any Successor in Interest of Borrower who assumes Borrowl:r's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be relea!!<ld from Borrower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument shall bind (except as provided in Section 20) and benetit the successors and assigns of Lender. 14. Loan Chargell- Lender may charge Borrower fees for services perfonned in conuection wiIh Borrower's defilull, for the purpose of protelllil1g Lender's interest in th\1 Prop\1rty aM rights under this Security Instrument, including,. but not limited to, attomeys' fees, property inspection and valuation fees. In regard to any other fees, the absence of cxP"''Ss authority in this Security Instnlment to charge a specil1c lee to Borrower shall not be construed as a prohibition on the charging of sneh fee. Lender may not charge fees that are eJ\l'ressly prohibited by this Security Instrument or by Applicable l.aw. If tile Loan i. su~ect to a law which !!<lis maximum loan charges, and tllal law is tinally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pennitted limits, then: (a) any such loan charge shall be reduced by the amount necesSllry to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choo!!<l to make this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund red\lOO!l principal, the reduction will be treated as a partial prepayment without any prepaymcnt charge (whether or not a prepayment charge is provided tor under the Note} Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver ofany right of actioll Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have been given to Borrower when mailed by first elllSs mail or when actually delivered to Borrower's notice address if sent by other meana. Notice to anyone Borrower shall constitute notice to all Borrowers unlcss Applicable Law expressly requires otherwi!!<l. The notice llddress shall be the Property Address ,mless 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 tbr reporting Borrower's change of address, then Borrower shall only report a change of addre'lS through that specified procedure. There may be only one designated notice address under this Security Instrument at anyone time. Any notice to Lender shall be given by delivering it or by mailing it by firat class mail In Lender's address stated herein unless Lender has desiguated another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have been given to Lender until al.1ually received by Lender. If any notice required by this Security Inslmment is also required under Applicable Law the Applicable Law requirement will satisfy the corresponding requirement under this Security Instrument 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this Security Instrument are subject to any requirements and limitations of Applicable Law. Applicable Law might explicitly or implicitly allow the parties to agree by contract or it might be silcnt, but such silence shall not be construed as a prohibition against agreement by contrad. In the event that any provision or clau!!<l of this Security Instrument or the Note contlicis with Applicable Law, such Clmllici shall not atIect other provisions of this Security Instrument or the Note which can be given etTect without the contlicting provi.ion. As used in this Security Instrument (ll) words of the masculine gender shall mean and include corre.ponding neuter words or words ofthe feminine gender; (b) words in the singular shall mClllland include the plural and vice versa; and (c) th.e word "may" gives sole discretion without any obligation to take any action, 17. BolToweJ"'s Copy. Borrower shall be given one copy of the Note and ofthi. Security Imrtrumcnt. 18. Transfer of th<- Property or a Beneficial Interest 10 Borrower. As u!!<ld in thi. Section 18, "Interest in the Property" means any legal or benetieial interest in the Property, including, but not limited to, those beneficial interest. tran.ferred in a bond tbr deed, contract tor deed, installment sales contract or escrow agreement, the intent of which is the transter of title by Borrower at a future date to a pureha!!<lr. _ .&A(NE) (0407) CHL (08JtlIi) PageSof1t Form 3028 1101