201008399 - Laserfiche WebLink

Browse

201�08399 Borrower shall be in default if any action or proceeding, whether civil ar criminal, is begun that, in Lender's judgment, cauld result in forfeiture of the Froperty or other material impairment of I.ender's interest in the Property or rights under this Security Instrument. Borrower can cure such a default and, if 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 Properiy or rights under this Security Instrurnent. The proceeds of any award or claim for damages that are attributable to the irnpairment 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 5ection 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modifcatinn af amortization of the sums secured hy 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 Barrower. Lender shall not be required to commence proceedings against any 5uccessor in Interest af Borrower or to refase to extend time for payrnent ar otherwise modify amortizatian of the sums secured by this 5ecurity 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, entities or Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or rernedy. 13. Joint and Sev�ral Liability; Co-signers; Successora and A.ssigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be jaint and several. However, any Borrower who co-signs this Security Instrument but does nat execute the Note (a "ca-signer"): (a) is co-signing this 5ecurity Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Instru�nent; (b) is not personally obligated to pay the sums secared by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrument or the Note withpnt the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrawer who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Barrower's rights and benef�ts 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 covenants and agreernents of this Security Instrument shall hind (except as provided in Section 20) and benefit rhe successors and assigns of Lender. �$�15�1 ^ Single Family -- Fannie Msa/Freddia M�e S7NIFORM IN6TAUM8NC Form 30Z5 1101� GCC - G3028-12 (09/Ol) (Page 12 of19) Initials: