420 LAUREL DR 2018-01-02 MF Import

200304210985.010 Borrower shall be in default if any action or proceeding, r whether othecivil Inaor c minaal, is b of that, in Lender's judgment, could result in forfeiture of the PropenY o 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 9 fby causing the the action or or other material I to be dismissed with a ruling that, in Lender's judgment, precludes impartneut of Lender's interest in the Property or rights under this Security Instrument. The proceeds of any award or claim for damages that are attributable to hie impairment of Lender's interest in the Property are hereby assigned and shall be paid to Lender. All 2vtiscelhmcous Proceeds drat are not applied to restoration or repair of the property shall be applied in the order provided for in Section 2.for 12. Borrower Not Released; Forbearance By Lender Not a Waiver. Extension of the tinder payment or modification of amortization of the stints secured by this Security instrument granted by Le Borrower shall not operate to release the liability of Borrower to Borrower or any Successor in interest of 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 die sutras 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 limitation, Lomder's acceptance of payments from third persons, entities V.- Successors in Interest of Borrower or in amounts less than the amount then due, shall not be a waver of or preclude the exercise of ,.ray ght oe remedy. Successors and Assigns Bound. Borrower covenants 13. Joint and Several Liability; Co-signers; and agrees that Borrower's obligat;outs and liability shall be joint and several. However, any Borrower who co-signs this Security instrument but dues not execute the Note (a "co-signer"); (a) is co-signing this Security lnctrumem only to niortgege, grant and convey obligated etMs interest in We runts die car perty this Security under die terms of this Security instrument, (b) is not pery ropay Instrument; and (c) agrees drat Lender and any other Borrower call agree to extend, modify, forbear or make any accommodations with regard to the terms of this Security Instrunent or doe Note without the co-signer's consent. Subject to the provisions of Section I8, any Successor in Interest of Borrower who assumes Borrower's obligations under this Security instrument in writing, and is approved by Lender, shall ofrom btain all of Borrower's rights and benefitsunder this Security rrower shall be Borrower's obligations and liability Inswment unless Slt under this Security Lender agrees such release lease in of this Security instrument shall bind (except as provided inwriting. 111e covenants and agrcetnents of Lender. Section 20) and benefit the svtzessnrs and assigns 14. Loan Charges. Lender may charge Borrower fees to Borrower's services performed in connection with Borrower's default, for the purpose of protecting Lender's interest in the property and right undertthis Security Instrunuenl, including, but not lionised to, attorneys' fees, property Pe' Liou In regard to any other fees, the absence of express authority is this Security Instrument to charge a Specifc fee to Borrower shall not be construed as a prohibition on die charging of such fee. Lender may not charge frets that are exlressly prohibited by this Security Instrument or by Applicable Law.so If die Loaa is subject to a law which sets maximum loan charges, and that law is finally interpreted he that the interest or other .can charges collected or to be collected in connection with die Loan exceed the permitted limits, then: (a) any such loan Suns already collected from Borrharge shall be reduced by the ower ernw'hich exceeded permitto reduce ted charge i the refunded ed limit; and er any limits will be refunded to Borrower. Lender nay choose to make this refund by reducing nlncp al�idie owed under the Note or by making a direct payment to Borrower. If a refund reduces p p reduction will he treated as a partial prepayment without 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 action Borrower might have arising out of such overcharge. 15. Notices. All notices given by Borrower or Lender in connection with this Security InsUmaclIt must be in writing. Any notice to Borrower in connection with this Security istrtunent shall be deemed m havr, been given to Borrower when [nailed by first class mail or when actually delivered to Borrower's InitidM�j Patia to nl 15 Form 3l)aa 1101 ®.atWAl 100121 m