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2U11Q406� 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the time for payment or idification of amortization of the sums secured by this Security Instrument granted by Lender to Borrower or any ccessor 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 Bonower to refuse to extend tune for payment or otherwise modify amortization of the sums secured by this 5ecurity �trument by reason of any demand made by the original Borrower or any Successors in Interest of Borrower. Any •bearance 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 arnount then e, sha11 not be a waiver of or preclude the exercise of any right or remedy. 13. Joint and Several Liability; Casigners; Successors and Assigns Bound. Bonower covenants and agr�s �t Borrower's obligations and liability sha11 be joint and several. However, any Borrower who co-signs this Security �trument but does not execute the Note (a "co-signer"): (a) is co-signing this Security Instrument only to mortgage, �nt 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 �rrower can agree to extend, modify, forbeat or make any accommodations with regard to the tertns of this Security >trument or the Note without the co-signer's consent. Subject to the provisions of Section 18, any Successor in Interest of Bonower who assumes Bonower's ligations under this Security Instrument in writing, and is approved by Lender, sha11 obtain a11 of Borrower's rights d benefits under this Security Instrument. Borrower sha11 not be released from Borrower's obligations and liability der this Security Instnunent unless Lender agrees to such release in writing. The covenants and agreements of this curity Instrument sha11 bind (except as provided in Section 20) and benefit the successors and assigns of I.ender. 14. Loan Charge.s. Lender may charge Bonower fees for services performed in connection with Borrower's fault, for the purpose of protecting Lender's interest in the Property and rights under this Security Instrument, :luding, but not limited to, attorneys' fees, property inspection and valuation fees. In regard to any other fees, the sence of express authority in this Security Instrument to charge a specific fee to Borrower sha11 not be construed a prohibition on the charging of such fee. Lender may not charge fees that are expressly prohibited by this S�urity >trument or by Applicable Law. If the Loan is subject to a law which sets maximum loan chazges, and that law is finally interpreted so that the erest or other loan charges collected or to be collected in connection with the Loan excced the permitted limits, ;n: (a) any such loan chazge shall 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 Bonower. 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 ypayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of y such refund made by dir�t payment to Borrower will constitute a waiver of any right of action Borrower might ve arising out of such overchazge. 15. Notices. All notices given by Bonower or Lender in connection with this 5ecurity Instrument must be in 7ting. Any notice to Borrower in connection with this Security Instrument sha11 be deemed to have been given to �rrower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other ;ans. Notice to any one Bonower sha11 constitute notice to all 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. Borrower sha11 promptly notify Lender of Borrower's change of address. If Lender ecifies a procedure for reporting Borrower's change of address, then Borrower shall only report a change of address -ough that specified procedure. There may be only one designated notice address under this Se.curity Instrument any 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 Borrower. 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 Instntment is also required under Applicable Law, the Applicable I,aw �uirement will satisfy the corresponding requirement under this Security Instrument. 16. Governing Law; 5everability; Rules of Construction. This Security Instrument sha11 be govemed by ieral law and the law of the jurisdiction in which the Property is located. All rights and obligations contained in is Security Instrument aze 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 sha11 not be nstrued as a prohibition against agreement by contract. In the event that any provision or clause of this Security strument or the Note conflicts with Applicable Law, such conflict sha11 not affect other provisions of this Security strument 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 conesponding 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 e Property" means any legal or beneficial interest in the Property, including, but not limited to, those beneficial terests transfened in a bond for deed, contract for deed, installment sales contract or escrow agreement, the intent which is the transfer of title by Borrower at a future date to a purchaser. If a11 or any part of the Property or any Interest in the Property is sold or transferred (or if Borrower is not a 1ura1 person and a beneficial interest in Borrower is sold or transferred) 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 L.ender if such exercise is prohibited by Applicable Law. ASKA--Single 3028 1 /01 Mae/Freddie Mac UNIFORM INSTRUMENT DaclVlaglc� Page 7 of 11 www.docmagic.com Ne3028.dot.xml