201105313 - Laserfiche WebLink

Browse

201�p531� Bonower shall be in default if any action or proceeding, whether civil or craninal, is begun that, in Lender's judgment, could result in forfeiture of the Property or other material impairment of Lender's interest in the 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, precludes forfeiture of the Property or other material impairment of Lender's interest in the Properly or rights under tYus Security Instrument. The proceeds of any awazd or claim for damages that are attributable to the impairment of Lender's interest in the Property are hereby assigned and sha11 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 tnne for payment or modification of amortization of the sums secured by this Security Instrument granted by I.ender to Bonower or any Successor in Interest of Borrower shall not operate to release the liabiliry of Borrower or any Successors in Interest of Borrower. Lender shall not be required to commence proceedings against any Successor in Interest of Bonower 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 Borrower. Any forbearance by Lender in exercising any right or remedy including, without lirnitation, Lender's acceptance of payments from third persons, entities or Successors in Interest of Borrower or in amounts less than the amount then due, 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 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 5ecurity Instrument only to mortgage, grant and convey the co-signer's interest in the Property under the terms of tfus Security Insmiment; (b) is not personally obligated to pay the sums secured by this 5ecurity Instrument; and (c) agrees that I.,ender and any other Bonower can agree to extend, modify, forbeaz or make any accommodations with regard to the terms of this Security Instrument or the Note without the co-signer's consent. Subject to the provisions of 5ection 18, any Successor in Interest of Bonower who assumes Borrower's obligations under this Security Instrument in writing, and is approved by Lender, shall obtain all of Borrower's rights and benefits under this Security Instrument. Borrower shall not be released from Bonower's obligations and liability under this Security Instrument unless Lender agrees to such release in writing. The covenants and agreements of this Security Instrument sha11 bind (except as provided in Section 20) and benefit the successors and assigns of Lender. 1�' B$AS� — Siagle Family — Fennie MaelFreddie Mec UNIFORM INSfRUMENT Form GCC - G3028-12 (09/Ol) (Page 12 of 19) Ini '