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i:r,i � iccessor in Interest of Borrower shall not operate to release the liability of Borrower or any Successors in Interest Bonower. Lender shall not be required to commence proceedings against any Successor in Interest of Borrower to refuse to extend time for payment or otherwise modify amortization of the sums secured by this Security strument by reason of any demand made by the original Borrower or any Successors in Interest of Bonower. Any rbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of yments from third persons, entities or Successors in Interest of Borrower or in amounts less than the atnount then e, sha11 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. Borrower covenants and agrees �t Borrower's obligations and liability sha11 be joint and several. However, any Borrower who co-signs this Security strument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, ant and convey the co-signer's interest in the Property under the terms of this Security Instrument; (b) is not rsonally obligated to pay the sums secured by this Security Instrument; and (c) agrees that Lender and any other irrower can agree to extend, modify, forbear or make any accommodations with regard to the tem�s of this Security strument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Borrower who assumes Borrower's ligations under this Security Instrument in writing, and is approved by Lender, shall obtain a11 of Bonower's rights d benefits under this Security Instrument. Borrower shall not be released from Bonower's obligations and liability der this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this curity Instrument shall bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may cha.rge Borrower fees for services performed in connection with Bonowez's fault, for the purpose of protecting Lender's interest in the Properiy and rights under this Security Instrument, �luding, but not limited to, attorneys' fees, property inspe,ction and valuation fees. In regard to any other fees, the sence of express authority in this Security Instrument to charge a specific fee to Bonower shall not be construed a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this Security strument or by Applicable Law. If the Loan is subject to a law which sets maximum loan charges, and that law is fmally interpreted so that the :erest or other loan charges collected or to be collected in connection with the Loan exceed the permitted limits, �n: (a) any such loan charge sha11 be reduced by the amount necessary to reduce the charge to the permitted limit; d(b) any sums already collected from Borrower which exceeded permitted limits will be refunded to Borrower. :nder may choose to make this refund by reducing the principal owed under the Note or by making a direct payment Borrower. If a refund reduces principal, the reduction will be treated as a partial prepayment without any �payment charge (whether or not a prepayment charge is provided for under the Note). Bonower's acceptance of y such refund made by direct payment to Bonower will constitute a waiver of any right of action Borrower might ve arising out of such overcharge. 15. Notices. All notices given by Bonower or Lender in connection with this Security Instrument must be in iting. Any notice to Borrower m conn�tion with this Security Instrument sha11 be deemed to have been given to �rrower when mailed by first class mail or when acivally delivered to Borrower's notice address if sent by other :ans. Notice to any one Bonower sha11 constitute notice to a11 Borrowers unless Applicable Law expressly requires ierwise. The notice address shall be the Property Address unless Borrower has designated a substitute notice dress by notice to Lender. Bonower shall promptly notify Lender of Borrower's change of address. If Lender �ifies a procedure for reporting Borrower's change of address, then Bonower shall only report a change of address �ough that specified procedure. There may be only one designated notice address under this Security Instrument ariy one time. Any notice to Lender shall be given by delivering it or by mailing it by first class mail to Lender's dress stated herein unless Lender has designated another address by notice to Bonower. Any notice in connection th this Security Instrument sha11 not be deemed to have been given to Lender until actually received by Lender. any notice required by this Security Instrument is also required under Applicable Law, the Applicable Law �uirement will satisfy the conesponding requirement under this Security Instrument. 16. Governing Law; Severability; Rules of Construction. This Security Instrument shall be governed by ierallaw and the law of the jurisdiction in which the Property is located. All rights and obligations contained in '.s Security Instrumerit are subject to any requirements and limitations of Applicable Law. Applicable Law might plicitly or implicitly allow the parties to agree by contract or it might be silent, but such silence shall not be nstrued as a prohibition against agreement by contract. In the event that any provision or clause of this Security �trument or the Note conflicts with Applicable L,aw, such conflict sha11 not affect other provisions of this Security �tntment or the Note which can be given effect without the conflicting provision. As used in this Security Instrument: (a) words of the masculine gender sha11 mean and include cortesponding uter words or words of the feminine gender; (b) words in the singular shall mean and include the plural and vice rsa; and (c) the word "may" gives sole discretion without any obligation to take any action. 17. Borrower's Copy. Borrower shall be given one copy of the Note and of this Security Instrument. 18. Transfer of the Property or a Beneficial Interest in Borrower. As used in this Section 18, "Interest in ; Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial erests transferred in a bond for deed, contract for deed, installment saies contract or escrow agreement, the intent which is the transfer of title by Borrower at a future date to a purchaser. If all or any part of the Property or any Interest in the Properiy is sold or transferred (or if Bonower is not a tural person and a beneficial interest in Bonower is sold or transfened) without Lender's prior written consent, :nder may require immediate payment in full of a11 sums secured by this Security Instrument. However, this option a11 not be exercised by Lender if such exercise is prohibited by Applicable Law. If Lender exercises this option, Lender shall give Borrower notice of acceleration. The notice shall provide a riod of not less than 30 days from the date the notice is given in accordance with Section 15 within wluch Borrower ASKA--Single Family--Fannie Mae/Freddie Mac UNIFORM INSTRUMENT 3028 1/01 Page 7 of 1 1 vocMag►c � www.docmagic.com Ne3028.dot.m�1 �