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200709939 acceleration has occurred, reinstate as provided in Section 17, by causing the action or proceeding to be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material impairmcnt of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to the impairment of Lender's interest in the Propcrty arc hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that arc not applied to rcstoration or repair of the Property shall be applied in the order provided for in Section 2. to. 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 refusc to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason 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 payments from third persons, cntities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not he a waivcr of or pn:c1ude the exercise of any right or remedy. J J. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covcnants and agrces that Borrower's obligations and liability shall be joint and several. However, any Borrowcr who co-signs this Security Instrument but docs 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 tenns of this Security Instrument; (b) is not personally obligated to pay the sums secured by this Security Instnunent; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forhear 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 Section 16, any Successor in Interest of Borrower who assumes 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 covcnants and agreements of this Security Instrument shall bind (except as provided in Section IS) and benefit the successors and assigns of I,ender. 12. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the Propeliy 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 express authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition onthe 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 suhject to a Jaw which sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to he collected in umnection with the L.oan exceed the permitted limits, then: (a) any such loan charge shall be reduced hy the amount necessary to reduce the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded permitted linlits will be refunded to Borrower. Lender may choose to make this refund 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 for under the Note). Borrower's acceptance of any sueh refund made by direct payment to Borrower will constitute a waiver of any right of action Borrower might have arising out of such overcharge. 13. Notices. All notices given by BOITower or Lender in connection with this Security Instrument must he in writing. Any notice to Borrower in connection with this Security Instrument shaH be deemed 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 BOITower has designated a substitute notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's ehange of address. If Lender specifies a procedure fcn reporting Borrower's change of address, then Borrower shall only report a change of address 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 first class mail to Lender's address stated herein unless Lender has designated 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 actually received by Lender. If any notice required by this Security Instrument is Page 0 of 10 NE 2029-1206