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2010a7657 <br />acceleration has occurred, reinstaCe as provided in Section 19, by causing the action or proceeding to be <br />dismissed with a ruling that, in Lender's judgment, precludes forfeiture of the Property or other material <br />impairment of Lender's interest in the Pxoperty or rights under this Security InstrumenC. The proceeds of <br />any award nr claim for damages that are attributable to the impairment of Lender's intersst in the Property <br />are hereby assigned and shall be paid to Lender. <br />All Miscsllaneous Proceeds that are not applied to restoration or repair of the Property shall be <br />applied in the order provided for in Section 2. <br />12. Borrower Nat Released; Forbearance By Lender Not a Waiver. Extension of the time far <br />payment or modification of amortization of the sums secured by this Secuxity Instrument granted by Lendex <br />to Borrower or any Successor in Interest of Borrower shall not operate to release the liability af Barrower <br />or any Successors in Tnterest of Borrower. L.ender shall not be required to connmence proceedings against <br />any Successar in Interest of Borrower or to refuse ta extend time for payment or otherwise modify <br />amortizatian of tha sums secured by this Security Instrument by reason of any dernand made by the original <br />Borrower or any Successars in Interest of Borrower. Any forbearance by T.ender in exercising any right or <br />remedy including, without limitation, Lender's acceptance of pay�nents from third persans, entities or <br />Successors in Interest of Borrower or in amaunts less than the amount then due, shall not be a waiver of or <br />preclude the exercise of any right or remedy. <br />13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Borrower covenants <br />and agrees that Borrower's obligations and liability shall be joint and several. However, any Barrower who <br />co-signs this Security Instrument but daes not execute the Note (a "ca-signer"): (a) is co-signing this <br />5scurity Instrument only to mortgage, grant and cnnvey the co-signer's interest in the Property under the <br />terms of this Security Instrument; (b) is not personally abligated to pay the sums secured by this Security <br />Instrument; and (c) agrees that I.ender and any other Borrnwer can agree to extend, modify, forbear or <br />make any accommodations with regard to the terms of this Security Instrument or the Nate without the <br />co-signer's consent. <br />Sub�ect to the provisians of Section 18, any Successor in Interest of Borrower who assumes <br />Borrower's obligations under this Security Tnstrument in writing, and is approved by Lender, shall obtain <br />all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from <br />�orrower's obligations and liability under this Security Instrument unless I.ender agrees to such release in <br />writing. The covenants and agreements of this Security Instrument shall bind (except as provided in <br />Section ZO) and bene�t the successors and assigns of Lender. <br />14. Loan Charges. I,ender may charge Borrower fees for services performed in connectian with <br />Barrawer's default, for the purpose of protecting Lender's interest in the Property and righCs under this <br />Security Instrument, including, but not limited tn, attorneys' fees, property inspection and valuation fees. <br />In regard to any other fees, the absence of express authority in this Security Instrument to charge a specific <br />fee to Borrower shall not be construed as a prahibition on the charging of such fee. �ender may not charge <br />fees that are expressly prohibited by this Security Instrument or by Applicable Law. <br />If the I.aan is subject to a law which sets ma�cimum loan charges, and that law is finally interpreted so <br />that the interest or other loan charges collected ar to be collected in connection with the Loan exceed the <br />permitted limits, then: (a) any such loan charge shall be reduced by the amount necessary to reduce the <br />charge to the permitted linnit; and (b) any sums already collected from Borrower which exceeded permitted <br />limits will be refunded ta Borrower. Lender may choose ta make this refund by reducing the principal <br />owed under the Note ar by making a direct payment to �orrower. If a refund reduces principal, the <br />reductian will be treated as a partial prepayment without any prepayment charge (whether or not a <br />prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by <br />direct payment ta Borrower will canstitute a waiver af any right of action Borrower might have arising out <br />of such overcharge. <br />1S, Notices. All notices given by Borrower or Lender in connection with this Security Instrument <br />must be in writing. Any notice to Borrawsr in connection with this Security Instrument shall be deemed to <br />have been given to Borrower when mailed by first class mail or when acCually delivered to Borrower's <br />notice address if sent by other means. Notice to any ane Borrower shall constituce notice ta all Borrowers <br />unless Applicable Law expressly requires otherwise. The notice address shall be the Property Address <br />unless Borrawer has designated a substitute notice addxess by notice to Lender. Borrower shall pramptly <br />notify Lender of Borrower's change of address. If I.endar specifies a procedure for reporting Borrower's <br />change of address, then Borrower shall only report a change of address thr��gh that specified pracedure. <br />O11Q303SA4 <br />I nitlals: <br />�-6�NE) 1oao�1.o2 Page 70 of 75 ,N,/ Form 302$ 1/01 <br />� �.,.� <br />