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200805531 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 right.<; under this Security In<itrument The proceed" of any awanl or claim for danwges that arc attributable to the impairment of Lender's interest in the Propcrty are hereby assigned and shall be paid to Lender. All Miscellaneous Proceeds that are not applied to restomtion or repair of the Property shall be applied in the order provided for in Section 2. 12. Borrower Not Released; }'orbearance By Lender Not a Waiver. Extension of the time for payment or modification of amortization of the sums secured by this Security In<itrument granted by Lender to Bormwer or any Successor in Interest of Bormwer shall not opemte to release the liability of Bormwer or any Successon; in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Bormwer or to refuse to extend time for payment or otherwise modify anlOrtization of the sums secured by this Security lnitrument by reason of any demand made by the original Bormwer or any Successors in Interest of Bormwer. Any forbearance by Lender in exereisi~ any right or remedy including, without limitation, Lender's acceptance of paymew from thint persom, entities or Successors in Interest of Bormwer or in amounts less than the amount then due, shall not be a waiver of or preclude the exereise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Bormwer covenants and agrees that Bormwer's obligatiom and liability shall be joint and several. However, any Bormwer who co.signs this Security lnitrument but does not execute the Note (a "co-signer"): (a) is co.signing this Security Instrunlent only to nl()~age, grant and convey the co-signer's interest in the Property under the terms or this Security Instrumcnt; (b) is not personally obligated to pay the sums secured by this Security In<itrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any acconmlodations with reganl to the temlS of this Security Iustrunlent or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Bormwer who assumes Bormwer's obligations under this Security Instrunlent in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument Bormwer shall not be released from Bormwer's obligations and liability under this Security In<itmment 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 benelit the SUCCl'Sson; and assigns 01' Lender. 14. Loan Charges. Lender may c~e Bormwer fees for services perfomJCd in cormection with Borrower's default, for the purpose of protecting Lender's interest in the Property and rights under this Security In<itrument, including, but not limited to, attorneys' fees, property inspection and valuation fees. In reganl to any other fees, the absence of express authority in this Security In<itrument to charge a specific fee to Bormwer 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. H the Loan i<; subject to a law which sets maximum loan charges, and that law i<; finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed the pemtitted limit.<;, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the charge to the pemtitted limit; and (b) any sums already collected from Bormwer which exceeded pemrltted limits will be refunded to Bormwer. Lender may choose to make this refund by reducing the principal owed under the Note or by making a direct payment to Bormwer. H a refund reduces principal, the reduction will be treated a'i a partial prepayment without any prepayment charge (whether or not a prepayment charge is provided for under the Note). Rormwer's acceptance of any sucl1 refund made by direct payment to Borrower will constitute a waiver of lUly right of action 80rmwer might have arising ont of such overeharge. 15. Notices. All notices given by Bormwer or Lender in connection with this Security Instrument DlU<;t be in writing. Any notice to Bormwer in connection with this Security In<itrunlent shall be deemed to have been given to Borrower when mailed by fin;t class mail or when actwtlly delivcred to Bormwer's notice address if sent by other means. Notice to anyone Bormwer shall comtitute notice to all Bormwers unless Applicable Law expres.<;ly requires otherwi<;e. The notice address shall be the Property Address unless Borrower has designated a substitute notice address by notice to Lender. Borrower shall promptly notil'y Lender 01' Bom,wer's change 01' address. ll' Lender specifies a procedure for reporting Bormwer's change of address, then Borrower shall only report a change of address through that specified procedure. 002005398805 ~'6A(NE) (0407).01 "-10 ol15 'mials;df r Form3028 1/01 CitiMortgage 3.2.15.16 V3