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201�0319G Borrower shall be in default if any acflon or proceeding, whether civil or criminal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material unpaicment of Lender's interest in We 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, preclndes forfeiture of the Property or other matertal impairment of Lender's interest in the Property or rights under this Securlty Instrument. The proceeds of any award or claim for damages that 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 in Section 2. 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or modiflcaflon of amortization of the sums secured by this Security Instcument granted by Lender to Bonower or any Successor in Interest of Bonower shall not operate to release the liability of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower or to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security Instrument by reason of any demand made by the original Borrower or any Successors in Interest of Bonower. Any forbearance by Lender in exercising any right or remedy including, without limitaflon, Lender's acceptance of payments from third persons, entifles or Successors in Interest of Borrower or in amounts Iess than the amount then due, shall not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Co-signers; Successors and Assigns Bound. Bonower covenants and agrees that Bonower's obligations and liability shall be joint and several. However, any Bonower who co-signs this Security Instrument but does not execute the Note (a "co-signer"): (a) is co-signing this Security InsMiment only to mortgage, grant and convey the co-signer's interest in the Property under the terms of this Security Inshvment; (b) is not personally obligafed to pay the sums secured by th9s Security Instrument; and (c) agrees that Lender and any other Borrower can agree to extend, modify, forbear or make any accommodations witta regard to the terms of this Security Instrument or the Note wiWout the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Bonower who assumes Borrower's obligations under this Securiiy Instrument in wrltittg, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Bonower shall not be released from Bonower's obligations and liability under thLs Securlty Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrament shall bind (except as provided in Section ZO) and benefit the successors and assigns of Lender. T1E$RA$� — SWgle Famfly -• Faonie MealFraddia Mae UHIFORM IN3CRUM@1T Farm 3028 1/0l � p e GCC - G3028-12 (09/Ol) (Page 12 of19) Initials: �v