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<br />13. Joint and Several Liability; Co-signers; Successors and Assigns Baund. Borrower covenants and agrees
<br />that Borrower's obligations and liability shall be joint and several. However, any Borrower who co-signs this Securrty
<br />Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to martgage, grant
<br />and convey the co-signer's interest in the Property under the terms of this Security Instrurnent; (b) is notpersonallyobligated
<br />to pay the sums secured by this Security Instrument; and (c) a�;rees that Lender and any other Borrower can agree to extend,
<br />modify, forbear or make any accomrnodations with regard to the terms of this Security Instrument or theNote without the co-
<br />signer's consent.
<br />Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's obligations
<br />under this Security Instrument in writing, and is approved by Lender, shall pbtain atl oFBorrower's rights andbenefit5 under
<br />this Security Instrument. Borrower shall not be released from Borrower's obli�ations and liability under this 5ecurity
<br />Instrument unless Lender agrees to such release in writing, The covenants and agreements of this Security Instrument shal I
<br />bind (except as provided in Section 20) and beneht the successors and assigns of Lender.
<br />14. Loan Charges. Lender may charge Borrower fees for services performed in connection with Borrower's
<br />defauit, for the purpose ofprotecting T.,ender's interest in the Property and rights under this SecurityInstrument, including,
<br />but not limited to, attorneys' fees, property inspection and valuacion fees. ln regard to any other fees, the absence ofexpress
<br />authority in this Security Instrument to charge a specific fee to Borrower shall not be construed as a prohibition on the
<br />charging of such fee. Lender may not charge fees that are expressly prohibited by this Security Instrument or by Applicable
<br />Law.
<br />If the Loan is subject to a law which sets maximum loan charges, and that law is finally interpreted so that fhe
<br />interest or other loan charges cnllected or to be collected in connection with the Loan exceed the permitted limits, then: (a)
<br />any such loan charge shall be reduced by the amount necessary to reduce the charge to the permiCted limit; and (b) any sums
<br />already collected from Borrower which exceeded pErmitted lirnits will be refunded to Borrower. i.ender maychoose to make
<br />this refund by reducing the principal owed under the Note or by making a direct payment to Borrower. If a refund reduces
<br />principal, the reduction will be treated as a partial prepayment without any prepayment charge (whether or not a prepayment
<br />charge �s provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will
<br />constitute a waiver of any right of action gorrower rnight have arising out of such overcharge.
<br />15. Natices. All notices �ivett by Borrower or Lender in connection with this Security Instrument must be in
<br />writing. Any nntice to Borrower in connection with this Security Instrument shal I be deemed to have been given to Borrower
<br />when mailed by first class mai 1 or when actual ly delivered to Borrower's notice address if sent by other means. Notice tn any
<br />one Borrower shall constitute notice to all Borrowers unless Applicable I.aw expressly requ�res otherwise. The notice
<br />address shall be the Property Address unless Borrower has designated a substicute notice address by notice to L.ender.
<br />Borrower shall promptly notify Lender of Borrower's change of address. If Lender specifies a procedure for reporting
<br />Borrower's change of address, then Borrower shall only report a change of address through that specified procedure. There
<br />may be only one designated noticc address under this Security Instrument at any one time. Any notice to Lender shall be
<br />�iven by deliverin�; it or by mailing it by first class mail to I.ender's address stated her�in untess Lender has designated
<br />another address by noticc to Borrower. Any notice in connection with this Security Cnstrument shall not be deemed to have
<br />been given to Lender until actually received by L.ender, If any notice required by this Security Instrument is also required
<br />under Applicable I,aw, the Applicable Law requirement will satisfy the corresponding requrrernent under this Security
<br />Instrument.
<br />1G. Coverning Law; Severability; Rules of Construction. This Security Instrument shall be governed by
<br />federal law and the law of the �urisdiction in which the Property is located. All rights and obligations contamed in this
<br />Security Instrument are subject to any requirements and limitatipns ofApplicable L�w. Applicable Law might explicitlyor
<br />implicitly allow the parties to agree by contract or it might be silent, but such silence shal l not be construed as a prohibit�on
<br />against agreement by contract. In 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 givcn
<br />effect without the conflicting provision.
<br />As used in this Security Instrument: (a) words of the masculine gender shall rnean and include corresponding neuter
<br />words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice versa; and (c) the
<br />word "may" gives sole discretion without any obligation to take any action.
<br />17. Sorrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument.
<br />18. Transfer of the Property or a Bene�cial Interest in Borrower. AS used in this Section 18, "Interest in the
<br />Propert}�' means any legal or beneficial interest in the Property, including, but not limited to, those beneficial interests
<br />transferred in a band for deed, contract for deed, installment sales contract or escrow a�;reement, the intent of which is the
<br />transfer of title by Borrower at a future date to a purchaser.
<br />If all ar any part of the Property or any Interest in the Property is sold or transf�rred (or ifBorrower is not a natural
<br />person and a beneficial interest in Borrower is sold or transferred) without Lender's prior written consent, I..ender may
<br />require immediate payment in full of all sums secured by this Security Instrument. However, this option shall not be
<br />exercised by Lender it such exercise is prohibited by Applicable Law.
<br />If I.ender exercises this option, L,ender shall give Borrower notice of acceleration. The noticc shall provide a period
<br />of not 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. IfBorrower fails to pay these sums prior to the expiration ofthis period, Lender
<br />may invoke any remedies permitted by this Security Instrument without furcher notice or demand on Borrower.
<br />19. Borrower's Right to Reinstate After Acceleration. If Borrower meets certain conditions, Borrower shall
<br />have the right to have enforcement of this Security Instrument discontinued at any time prior to the earliest ot: (a) hve days
<br />before sale of the Property pursuant to any power oF sale contained in this Security Instrument; (b) such other period as
<br />Applicable Law might specify for the termination of Borrower's right to rein�tate; or (c) entry of a jud�ment enforcing this
<br />Security instrument. Those conditions are that Borrower: (a) pays I.ender all sums which then would be due under fhis
<br />Security Instrument 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 Instrument, including, but not limited to, reasonable attorneys' fees, property inspection and
<br />valuation fees, and other fees incurred for the purpose of protecting Lender's interest in the ProperCy and rights under this
<br />Security lnstrument; and (d) takes such action as L,ender may reasonably require to assure that Lender's interest in the
<br />Property and rights under this Security Tnstrument, and Borrower's obligation to pay the sums secured by this Security
<br />lnstrument, shall continue unchanged. L,ender may require that Borrower pay such reinstatement sums and expenses in one
<br />or more oFthe following forms, as selected by I.ender: (a) cash; (b) maney order; (c) certified check, bank check, treasurer's
<br />check or cashier's check, provided any such check is drawn upon an institution whose deposits are insured by a federal
<br />agency, instrumentality or entity; or (d) Electronic Funds Transfer, Upon reinstatement by Borrower, this Security
<br />Instrument and obligations secured hereby shall remain fully effective as if no acceleration had occu►red. However, this right
<br />to reinstate shall not apply in the case of acceleration under Section 18.
<br />20. Sale of Note; Change of Laan Servicer; Natice of Grievance. The Note or a partial interesC in the Note
<br />(together with this Security Instrument) can be sold one or more times without prior notice to Borrower. A sale might result
<br />in a change in the entity (known as the "I.oan Servicer") that collects Periodic Payments due under the Note and this Securtity
<br />Instrument and perfornns ofher martgage loan servicittg obligations under the Note, this Security Instrument, and Applicable
<br />Law. There also might be one or more changes of the Loan Servicer unrelated to a sale of the Note. If there is a change of
<br />the Loan Servicer, Borrow�;r will be given written notice of the change which will state the name and address of the new
<br />NE13tiASKA--Single l�amily--Pannie Mae/Trcddic Mac UNIFQRM INSTRUMENT (MERS) Form 3028 1/01 (page 6 qf 8 pages)
<br />12439.CV (1/08) 904501 Creative ThinWng, Inc.
<br />GOTO(00145203)
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