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201008584 If the Property is abandoned hy Borrower, or if, after r�otice by i.,ender to Borrower tliat the Opposing Party (as defined in the next sentence) offers to �nake an award to settle a claii�i for dai�►�ages, Borrower fails to respoud to Lender within 30 days nfter the date the notice is given, Lender is authorized lo collect and apply tha IVliscellaneous Proceeds either to restoration or repair oF lhe Property or to thc sums secured by this Security lnstrtunent, whether or not then due. "Opposing �'arty" nzea�as the third party that owes Borrower Miscellaneous Proceeds or the party against whom Borcower has a rig(�t of action in regard to Miscellaneous Proc�eds. Borrawer shall he in default if any action or proceeding, whecher civil or critr�ii�al, is beguu that, in Lender's jud�ment, could result in forfeiture of the Property or ot}�er znaterial impairment of Lealder's interest in the Yroperty or rights under this Security Listrument, Borrower can cure such a delault and, if acceleration has occurred, reinstate as provided in Section 19, by causing the actio❑ or proceeding to be dismissed with a ruling that, in Lender's jud�ment, predudes forfeiture of the Property or other iiiaterial iir�pairrnent of Lentler's interest in the Property or ri�hts under this Security Instrument. The proceeds of any award or claim for da�nages ttiat 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 irt Section 2, 12. Borrowcr Not RcicASed; Forbearance By Lender Not a Waiver. Extension o.f the tiz�ae for paymcut or modi�ication o(� at��ortiz�tion of the suzns secured by lhis S�curity lnstrumer�t granted by Lender to 13orrower or any Successor in interest of Borrower shall not operate to release the liability of [3orrower or auy S�iccessors in lnterest of Borrower, I.,ender shall not be required to comnxezice proceedings against any Successor in Interest of Borrower or to refuse to extend time for payrnent or otherwise �nodify amortiaation of tl�e su�ais secured by this Security [nstruanent by reasoc� of any demand inade by the original Borrower or any Succassors in lnterest of Borrower. Any forbearance by Lender in exercising any right or reinedy iucluding, withorit liniitation, Lender's acceptance of payments from third persons, enlitias or Successors in Iirterest of Borrower or in amounts less than the amount then due, shall not be a waiver of or preclude the exercise of auy right or remedy. 13. Joink and Several Liablllty; Cn Successors nnd Assigns Bound. Borrower covenants and agrees that Borrower's obligations and liability shall be joint and s�veral. � any I3orrower who co this Security instrument but does ilot execute the Note (a "co ): (a) is co this Security lnstrument only to mortgage, grant and convey the co-sig�ier's interest in the Properry under tha terms af this Security Iustrument; (b) is not personally obligated to pay the sums secured Uy this Security Iuscrument.; and (c) agrees thac Lender and auy other Borrower can agree to extend, modify, forbEar or malce any accommodations with regard to the terms of this Security Instruinent or tlie Note without the co-signer's conseilt. Subject to the provisions of Section 18, any Successor in Interest of Borrower wlio assumes 13orrnwer's obligations under this Security lustrument in writing, and is approved by Lender, Shall obtain all of Borrower's rights and benefits under this Security Instrwnent, Borrower shall tzot be released from Borrnwer's ohligations and liability under this Security Instnunent unless Lender agrees to such release in writin�;. The covenants and agreeinents of this Security Instrument shall bind (except as provided in Section 20) and benetit the successors and assigns of Lender, 14. Loan Char�es. Lender imay charge E3orrower fees for services performed in connection with 13orrower's default, for the purpose of ptotecting Lender's interest in the Property and riglits under this Security lnstrument, including, but not limiled to, attarneys' fees, property inspection �nd valuation fees. In regard to auy oCher tees, the absence of express authority in this 5ecurity Iiistrument to charge a specifc fee to Borrower shall zaot be construed as a prohibition ou the charging of such fe�. l�ender may �iot ch��r�e fees thaC are expressly prohibiced by this Security Instrument or by Applicable Law. If the Loan is sub_ject to a law which sets maxiaT�ur�lloan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in connection with the Loan exceed tlie permicted linxits, th�n: (a) any such loan charge shall be reduced by the an�ount riecessary to reduce the charge to the permitted limit; and (b) any sums already collected from Bocrower which exceeded perrnitted liinits will bc refunded to Borrower. Lender may choose to make this refund by reducing the principal owed under the Note or Uy making a direct paymeait to Liorrower. If a refund xeduces principal, the reductio�� will be treated as a partial prepayment without any prepaymeut charge (wl�ether or not � pre��yment charge is provided fvr under the Note). Borrower's acce�tance of any such refund made by direct p�tyn�ent to Borrower will constitute a waiver of any right of actinn Borrower inight have arising out of suck� overcharge. 15. Notices. All i�otices given by Barrower or Lender iu caru�ection with fhis Security lnstrument inust be in writing. Any notice to Borrower in coimection with tt�is Security lnstrwnent shall be deemed to have been given to Borrower when mailed by frst class mail or when actually delivered to C3orrawer's nqtice address if sent by other m�a�is. Notice to any one Borrower shall coustitut� uotice to all Sorrowers unless Applicable Law expressly requires otherwise. The notice address shall be the Praperty Address unless �3orrnwer has designaced a substitute notice address by notice to Lender, Borrower shall promptly notify Lei�der of Borrower's change of address. If I..ender specifies a procedure for reportin� Borrower' s ctiange of address, then Borrower shall only repoart a change ot� address through that specified prncedure. There utay be oi�ly oue desigt�ated notice address under lhis Security instrument at any one ti�ne. Any natice to Lender shall be givet� by delive��ing it or by mailing it by first class mail to Lender's address scated herein unless Lender has designated a�iotkier address by notice to Barrower. A.ny notice in connectiou with this Security Instrument shall uot be deeined to l�ave Ueen given to Lcnder until actually received by Lanrler. If any notic� required by this Security Instrumanf is also required under Applicable I,aw, the Applicable Law requirement will satisfy the corcespondin� requirement under this Security Instrument. lb. Governing Law; Severability; Rules of Construction. Tkais Security lustrument s1�a11 be governed by federal law and the law of the jurisdiction in which the Property is locaked. All rights and obligations contained in ttiis Security Instrument are subject to any reyuirements and limitations of Applicable Law. Applicable Law i�iight NE8R,4SKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT - MERS DOCM2gICQ�, 8tl0-849-1362 Form 3028 1/01 Page 7 of 11 www.docmagic.com