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<br />200710429
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<br />amount of the sums secured immediately before the partial taking, destruction, or loss in value, unless
<br />Borrower and Lender otherwise agree in writing, the Miscellaneous Proceeds shall be applied to the
<br />sums secured by this Security Instrument whetber or not the sums are then due,
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<br />If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the Opposing
<br />Party (as defined in the next sentence) offers to make an award to settle a claim for damages, Borrower
<br />fails to respond to Lender within 30 days after the date the notice Is given, Lender is authorized to
<br />collect and apply the Miscellaneous Proceeds eitber to restoration or repair of the Propeliy or to tbt~
<br />sums secured by this Security Instrument, whether or not then due, "Opposing Party" means the third
<br />party that owes Borrower Miscellaneous Proceeds or the pnrty ngainst whom B(mower has a right of
<br />action in regard to Miscellaneous Proceeds,
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<br />Borrower shall be in default if any action or proceeding, whether civil or crimInal, is begun that, in
<br />Lender's judgment, could result in forfeiture oflhe Property or other material impairment of Lender's
<br />interest in the Property or rights under this Security Instrument. Bonower can cure such a dei~1U1t and,
<br />if acceleration has occurred, reinstate as provided in Section 19, by causing the action or proceeding to
<br />be dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the PropeliY or other
<br />lnaterial irnpainnent of Lender's interest in tbe Property or rIghts under this Security Instrument 'rht~
<br />proceeds of any award or claim for damages that arc attributable to the impairment of Lender's interest
<br />in the Propel1Y are hereby assigned and shall be paid to Lender.
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<br />All Miscellaneous Proceeds that are not applied to restoration or repair of the Property shall be applied
<br />in the order provided for in Section 2.
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<br />12. Borrower Not Released; Forhearance By Lender Not <l Waiver, Extension of the time f(lr payment
<br />(lr nlOditkatilln of amortization of the sums secured by this Security Instrumellt granted by Lender to
<br />BoO'(nver or any Successor in Interest of Borrower shall not operate to release the liability of Borrower
<br />or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings
<br />against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise
<br />modify amortization of the sums secured by this Security Instrument by reason of any demand made by
<br />the original Borrower or any Successors in Interest of Borrower. Any forbearance by Lender in
<br />exercising any right or remedy including, without Iimit,ltion, Lender's acceptance of payments 11'<H11
<br />tbird persons, entities or Successors in Interest of Borrower or in amounts less than the amount then
<br />due, shall not be a waiver of or preclude the exercise of any right or remedy,
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<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bouud. Borrower covenants and
<br />agrees that Borrower's obligations and liability shall be joint and several. However, any Borrower who
<br />co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this
<br />Security Instrument only to mortgage, grant and convey theco-signer's interest in the Propmty under
<br />the terms of this Security Instrument; (b) is not personally obligated to pay the slims secured by this
<br />Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify,
<br />forbear or make any accommodations with regard to the terms of this Security Instrument or the Note
<br />without the co-signer's consent.
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<br />Subject to the provisions of Section 18" any Successor in I Interest of BO/Tower who assumes
<br />Borrower's obligations under thIs Security Instrument in writing, and is approved by Lender, shall
<br />obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be
<br />released from Borrower's obligations and liability under this Security Instrument unless Lender agrees
<br />to such release in writing. The covenants and agreements of this 'Security Instrument shall bind (except
<br />as provided in Section 20) and benefit the successors and assigns: of Lender.
<br />
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with
<br />Bon'ower's default, for the purpose of protecting Lender's interest in the Property and rights under this
<br />Security Instrument, including, but not limited to, attorneys' fees, property inspection and valuation
<br />Ices, In regard to any other fees, the absence of cxpress authority in this Security Instrument to charge a
<br />specif1c fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender
<br />may not charge fees that are expressly prohibited by this Security Instrument or by Applicable Law,
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<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so
<br />that the interest or other loan charges collected or to he collected in connection with the Loan exceed
<br />the permitted limits, then: (a) any such Joan charge shall be reduced by the amount necessary to reduce
<br />the charge to the permitted limit; and (b) any sums already collected from Borrower which exceeded
<br />pcrmitted limits will be refunded to Borrower. Lender may choose to make this refund by reducing the
<br />principal owed under the Note or by making a direct payment to Borrower. If a retlmd reduces
<br />principal, the reduction will be treated as a pmtial prepayment without any prepayment charge (whether
<br />or not a prepayment charge is provided for under the Note), Borrower's acceptance of any such refund
<br />made by direct payment to Borrower \ViII constitute a waiver of any right of action Borrower mIght
<br />have arising out of such overcharge,
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<br />15. Notices, AlIl10tices given by Borrower or Lender in connectiotr with this Security Instrument must be
<br />in writing, Any notice to Borrower in connection with this Security Instrument shall be deemed to have
<br />been given to Borrower when mailed by first cInss mail or when actually delivered to Borrower's
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