201107715 - Laserfiche WebLink

Browse

201107��5 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tizne for payment or modification of amortizarion of the sums secured by this S�urity Instrument granted by Lender to Borrower or any Successor in Interest of Borcower shall not operate to release the liability of Borrower or any Successors in Interest of Bonower. 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 Bozrower. Any forbearance by Lender in exercising any right or remedy including, without limitation, Lender's acceptance of payments from third persons, entiries or Successors in Interest of Bonower 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 Borrower's obligarions 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 Securiry Instrument only to mortgage, grant and convey the co-signer's interest in the Properiy under the terms of this Security Tnst7vment; (b) is not personally obligated to pay the sums secured by this Se�urity Insm�ment; and (c) agrces that Lender and any other Bonower can agree to extend, modify, forbear or make any accommodarions with regard to the terms of tlus Security Instrument or the Note without the co-signer's consant. Subject to the provisions of Section 18, any Successor in Interest of Bonower who assumes Bonower's obligations under this Security Instnunent in writing, and is approved by Lender, shall obtain all of Bonower's rights and benefits under this Security Insmxment. Borrower shall not be released from Borrower's obligations and liability under this Security Insmiment unless Lender agrees to such release in writing. The covenants and agre�ments of ttus Security Instrument shall bind (except as provided in S�tion 20) and benefit the successors and assigns of Lender. 14. Loan Charges. Lender may chazge Borrower fees for services performed in connection with Bonower's default, for the purpose of prot�ting Lender's interest in the Property and rights under this Securiry Instrument, including, but not limited to, attomeys' fces, property inspecrion and valuation fe�s. In regard to any other fees, the absence of express authority in this Security Insm�ment to charge a specific fee to Borrower shall not be construed as a prohibition on the charging of such fee. Lender may not charge fees that aze expressly prohibited by this S�urity Instniment or by Applicable Law. If the Loan is subject to a law wluch sets maximum loan charges, and that law is finally interpreted so that the interest or other loan charges collected or to be collected in conne.ction with the Loan exce� the permitted limits, then: (a) any such loan chazge shall be reduced by the amount necessary to reduce the charge to the permitted limit; and (b) any stuns already coll�ted from Borrower which exc,e�deri permitted limits will be refundefl to Borrower. Lender may choose to make this refund by reducing the principal owed under tiie Note or by making a direct payment tv �nower. If a refund reduces principal, the reduction will be treated as a partial prepaynnent �vithout any prepayment charge (whether or not a prepayment charge is provided for under the Note). Borrower's acceptance of any such refund made by direct payment to Borrower will constitute a waiver of any right of acrion Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security Instrument must be in writing. Any notice to Bonower in connection with this Security Instrument shall be deemed to have be�n given to Bonower when mailed by first class mail or when actually delivered to Borrower's notice address if sent by other means. Notice to any one Borrower sha11 constitute notice to all Barrowers unless Applicable Law expressly requires otherwise. The notice address shall be tlne Property Address unless Borrower has NEBRASKA-Single Family-Fannle Mae/Freddie Mac UNtFORM INSTRUMENT VMP � Wokers Kluwer Financfal Services Form 3028 1/Ot VMPB(NE) (1105) Page 11 of 17 ;t � � i� � .