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<br />or remedy including, without limitation, Lender's acceptance of payments from third persans, entities or Successors in
<br />Interest of Barrower or in
<br />amounts less than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy,
<br />13. doint and Several Liability; Co-signers; Successors and Assigns Bound. $orrower covenants and agrees
<br />that Borrow�r's obligations and liability shall be joint and several. Hawever, any Borrower who co-signs this Security
<br />Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, grant
<br />and convey the co-signer's interest in the Property under the terms ofthis Security Instrument; (b) is not personallyobligated
<br />to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other Borrower can agree to exCend,
<br />mod�fy, forbear or make any accommodations with regard to the terms ofthis Security Instrument or th�Note withoutthe co-
<br />signer's consent.
<br />5ubject to the provisions of Section 18, any Successar in Interest of Borrawer who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall obtain all af Borrower's rights and benefits under
<br />this Security Instrumant. Borrower shall not be released from Borrawer's obligations and liability under this Security
<br />Instrument unless Lender agrees to such release in writing. The covenants and agreements ofthis Securiry Instrument sha�l
<br />bind (except as provided in Section 20) and benefit the successors and assigns of I.ender.
<br />14. Lpan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's
<br />default, for the purpose of protecting [.,ender's interest itt the Property and rights und�r this Security Instrument, including,
<br />but not limited ta; attarneys' fees, property inspection and valuation fees. In regard to any other fees, the absence of express
<br />authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the
<br />charging ofsuch fee. Lender may not charge feas that are axprassly prohibited bythis Security Instrument or by Applicable
<br />Law.
<br />lf the Loan is subject to a law which sets maximum loan char�es, and that law is finally interpreted so that the
<br />interest ar other loan charges collected or to be collected in connection with the l,oan exceed the permitted limits, then: (a)
<br />any such loan charge shall be reduced by the amount necessary ta reduce the charge to tha permitted limit; and (b) any sums
<br />already collected fram Borrower which exceeded permitted limits will be refunded to Borrower. Lender maychoose to make
<br />this refund by reducing the principal owed under the Note or by making a diract paymant to Borrower. If a refund reduces
<br />principal, the reduction will be treated as a partial prepayment wrthout any prepayment charge(whether or not a prepayment
<br />charge �s provided for under the Note). Borrower's acceptance af any such reFund mada by direct payment to Borrower will
<br />constitute a waiver of any right of actian Borrower might have arising out of such overcharge.
<br />15. l�Totices. All notices given by Borrower or I,ender in connection with this Security Instrument must be in
<br />writing. Any notice to Borrower in connection with this Security Instrument shall be deemed to have bean given to Borrower
<br />when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any
<br />one Borrower shall constitute notice to all Borrowers unless Applicable I,aw expressly requires otherwise. The notice
<br />address shall be the Proparry Address unless Borrower has designated a substitute notica address by notice to Lender.
<br />Borrower shall promptly notify I.ender of Borrower's change of address, lf L.ender specifies a procedure for reporting
<br />Borrowar's change of address, then Borrower shall only report a change of address through that specified procedure. There
<br />may be anly one designated notice address under this Security Instrument at any one time. Any notice to Lender shall be
<br />given by delivering it or by mailing it by first class mail to Lender's address stated herein unless L.ender has designated
<br />another address by notice to Borrower. Any notice in connection with this Security Instrument shall not be deemed to have
<br />been given to l.ender until actuall� received by Lender. lf any notice required by this Security Instrument is also required
<br />under Applicable Law, the Applicable Law requirement will satisfy the corresponding requirement under this Securiry
<br />Instrument.
<br />16. Governing Law; Severability; Rules af Construction. This Security Instrument shall be governed by
<br />federal law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in this
<br />Security Instrument are subject to any requirements and limitations ofApplicable Law. Applicable Law might explicitlyor
<br />implicitly allow the parties to agrea by contract or it might be silent, but such silence shall not be construed as a prohibition
<br />against agreement by contract. Cn the event that any provision or clause ofthis Security Instrument or the Note conflicts with
<br />Applicable Law, such conflict shall not affect other provisions of this Security Instrument or the Note which can be given
<br />effect without the canflicting provision.
<br />As used in this Security Instrument: (a) words ofthe masculine gender shall mean and include corresponding neuter
<br />words or words ofthe feminine gender; (b) words in the singular shall mean and includa the plural and vice versa; and (c) the
<br />word "may�' gives sole discretion without any obligation to take any action.
<br />17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security lnstrument.
<br />18. 'I`ransfer of the Property or a Bene�cial Interest in Borrower. As used in this Section 18, "Interest in the
<br />Prapert�' means any legal or beneficial interest in the Property, includin�, but not limited to, those beneficial interests
<br />transferred in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent ofwhich is the
<br />trartsfer of title by Borrower at a future date to a purchaser.
<br />If all or any �art of the Property or any Interest in the Aroperty is sold or transferred (or if Borrower is not a natural
<br />person and a beneficial interest in Borrower is sotd or transferred) withaut L.ender's prior written consent, Lender may
<br />require irnmediate payment in full of all sums secured by this Security Instrument. However, this option shall not be
<br />exercised by L,�nder if such exercise is prohibited by Applicable Law.
<br />If L.endar exercisas this option, Lender shall give Bprrower natice of acceleratian. The notice shall provide a period
<br />of ttot less than 30 days from the date the notice is given in accordance with Section 15 within which Borrower must pay all
<br />sums secured by this Security Instrument. If Borrower fails to pay these sums prior to the expiration ofthis peeiod, Lender
<br />may invoke any remedies permitted by this Security Instrument without further notice ar demand on Borrower.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditians, Borrower shall
<br />have the right ta have enforcement ofthis Security lnstrument discontinued at any time prior to the earliest of (a) five days
<br />before sale of the Property pursuant ta an� power of sale contained in this Security Instrument; (b) such other period as
<br />Applicable Law might spec►fy for the terminat�on of Borrower's right to reinstate; or (c) entry of a judgment enforcing this
<br />Security Instrument. Those conditions are that Borrower: (a) pays L,ender all surns which then would be due under this
<br />Security lnstrument and the Note as if no acceleration had occurred; (b) cures any default of any other covenants or
<br />agreements; (c) pays all expenses incurred
<br />in enforcing this Security Instxument, including, but not limited to, reasonable artorneys' fees, property inspecCion and
<br />valuation fees, and other fees incurred for the purpose of protecting I.ender's interest in the Property and rights under this
<br />Security Instrument; and (d takes such action as Lender may reasonably require to assure that Lender's interest in the
<br />Property and rights under t is 5ecurity Instrument, and Borrower's abligation to pay the sums secured by this Security
<br />Instrument, shall continue unchanged. Lender may require that Barrower pay such reinstatement sums and expenses in one
<br />or more ofthe following forrns, as selected by L.ender: (a cash; (b) money order; (c) cartified check, bank check, treasurer's
<br />check or cashier's check, provided any such check is rawn upon an inst�tution whose deposits are insured by a federal
<br />agency, instrumentalit� or entity; or (d) Electronic Funds Transfer. Upan reinstatement by Borrower, this Security
<br />Instrument and obligat�ons secured hereby shal I remain ful(y effective as if no acceleration had occurred. However, this right
<br />to reinstate shall nat apply in the case of acceleratian under Section 18.
<br />20. Sale of Note; Change of Loan Servicer; Notice of Grievance. The Note or a partial interest in the Note
<br />(together with this Security Instrument) can be sold one or more times without priar notice to Barrower. A sale might result
<br />in a change in the entity (known as the "C.,oan Servicer") that collects Periodic Payments due under the Note and this Security
<br />N�BRASICA—Single Family--Fannie Mae/Freddie Mac UNIFORM 1NSTRUMENT Form 302R 1/D1 (page 6 of8 pages)
<br />9754.CV (3/09) 91169USB / 9902425019 Creative Thinking, II1C.
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