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200803233 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 jUdgment, precludes forfeiture of the Property or other material impairment of Lender's interest in the Property or rights under this Security Ins.trument. The proceeds of any award or claim for damages that are attributable to the impairment 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 for payment or modification of amortization of the swns 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 BOfrower or any Successors..in Interest of BOrrowef. 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 Instrunllmt 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 . remedyincludiIig, without limitation. Lender's .acceptal1ce of paymentsfrolilthird persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not. be a waiver Qf or . preclude the .exercise of any right otremedY.. . . . . . . . .. .. 13. Joint.. and Several LiabUity~ Co-signers; Successors and Assigns. :Bound;. Borrower covenants and agrees that Borrower's obligations arid liability shaUbe 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 cocsigner'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 ihatLenderand any other Borrower can agree to extend, modify, forbear.or Iilakeanyaccorrunodationswith regard to the tenns of this Security Instrument or the Note without tbe co-signer's consent. . Subject to the provisions of Section IS, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security Instmment in writing, and is approved by Lender, shall obtain all of Borrower's rights ami benefits under this Security Instrulilent. BorroWer shall not be releaSed from Borrower's obligations and liability under this Security Instrument unless. Lend(lr agrees to such. release in writing. The. covenants and agreements of tI1is. 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 perfoOned in connection with BOrrower's default. for the purpose of protecting Lender's interest in the Property lmd 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 on the. charging of such fee. Lender may not charge fees tha~ are ex;pressly 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 fmally interpreted so that. the interest or other loan charges collected. 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. the pennitted limit; and (b) any sums already collected from Borrower which exceeded permitted limits will be refunded to. Borrower. Lender may choose to make this refund by rf<ducingthe 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 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. . . . 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 Instrumentsha11 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 B01Towers unless. Applicable Law expressly requires otherwise. The .notice address shall be the Property Address unless Borrower hil$ designated as\!,bstitute.notice address by notice to Lender. Borrower shall promptly notify Lender of Borrower's change of address. If Lender sp~ifies a procedure for reporting Borrower's change of address, then Borrower shall only report a chfJnge of address through that specified procedure. 0110280078 <II!l-6INEI (0407).02. Page 100116 Inltial.:S r ~ . 11&" Form 3028 1/01