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200709024 acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judglnent, precludes fi)rfeiture of the Property or other material impainnent of Lender's interest in the Property or rights under this Security Instnuneilt., The proceeds of any award or claim for damages that are attributable to the impainnent of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are 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 fi)r payment or moditication of anlOrtization 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 comlnence proceedings against any Successor in Interest of Borrower or to refuse to extend time ti)r paylnent or otherwise Inodify amortization of the sum,s secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any ti)rbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments front third persons, entities or Successors in Interest of Borrower or in anlOunts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and 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 Lender and any other Borrower can agree to extend, modify, tilTbear or make any accommodations with regard to the tenns of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumcs Borrower'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 released 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 Instnnnent shall bind (except as providcd in Section 20) and benetit the successors and assigns of Lender. 14. Loan Charges. Lender may charge Borrower fees for services perfonned in connection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuatioll fees. In regard to any other fees, the absence of express authority in this Security Instrument to charge a specitic fee to Borrower shall not be construed as 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 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 pemlitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the permitted lilnit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. Lender may choose to make this refimd by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided tilr under the Note). Borrower's acceptance of any such refimd made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in colUlection with this Security Instnunent must be in writing. Any notice to Borrower in connection with this Security Instrument shall be deelned to have been given to Borrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent 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 tilr reporting Borrower's change of address, then Borrower shall only report a change of address tI~l ~pecified procedure. Initials: ~...---- ~ -6(NE) 100051 @ Page 10 of 15 Form 3028 1!O 1