The Classification of Words

Participle II is mostly used to modify nouns.
E. g. My forgotten friend ... Marlow was dead and buried.
As to participle I, the combinability of different gram-memes is different.
The non-perfect active participle may modify both nouns and verbs.
E. g. His smiling eyes; smiling slyly, he stretched out his hand.
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The non-perfect passive usually modifies verbs, but occasionally (when the verb is durative) nouns.
E. g. Not being invited there, I chose to stay at home. It would be advisable to achieve agreement on measures to discontinue the war propaganda being conducted in certain states. (Daily Worker).
¹ See А. И Смирницкий Перфект и категория временной отнесенности. «Иностранные языки в школе», 1355, № 1.
191
The other grammemes are used only to modify verbs.
E. g. H a v i n g been d e t a i n e d by the flood, he came late.
§ 320. English participles like those of Russian, Ukrainian and other languages, may sometimes develop into adjectives, the idea of quality gradually overshadowing that of action, as in standing water — стоячая вода, a charming woman — очаровательная женщина, written work — письменная (конт­рольная) работа. They may develop into nouns, the idea of substance outweighing that of action — the wounded — раненый, the accused — обвиняемый, the deceased — покой­ный, etc. Both adject ivizat ion and substantivization involve the change of combinabllity and function, i. e. they are cases of conversion (see § 57).
The Gerund
§ 321. The gerund is a verbid characterized by the follow­ing features:

1. 
   Its dual lexico-grammatical meaning of an action