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Home My WebLink About0807 L.ende~ s written agrcement or applicabb law. Borrowe~ shall pay the unount oI all mortgage insurance premiumt in the manne~ p~ovidcd unckr pa~agraph 2 hereof. Any amounts disbuned by I.~nckr pursuant to this paragraph 7, with iaterest theroon, shall become additional inekbtedness of Bo~rower securod by this Mongage. Unlecs Bor~owe~ anci l.enJe~ agrce to othe~ tem?s of paymee~ such amounts shall be payabk_upao nolice (mm I.ender to Borrowc~ rcquesling payment thercof, and shall bcar interat from the date of disburstment at the rate payabk f~om time to time on ait:tanding pri~cipa) unde~ the Note unkss psymeat ot intercst at auch rate would be contrary ta applicabk law, in which event such unou~ts shall bear interest at the hiahad ra~e permiasibk u~der applicabk law. Nothing contained in this paragraph 7 shall rcquire I.ende~ to incur any expetae or talce . any actio~ hereunde~. _ a. Isspectio~. I.ender may makc ar cause to t~e made rcasonabk emries upon and inspeclions of the Property. pmvided _ that I.ende~ shall give Borrowe~ notice priar Ia any such inspection spocifying reasonabk cause therefor related to I.ender's interat in the Property. 9. Co~deau~sfb~. The proceedc af any award a~ claim for damaga, direct or consequential. in connection with any ccx~demnation or other taking ot the Property, or patt thercof, or for ccxrveyar~ce in lieu of condemnation. are he~eby assianod and shall be paid to L.ender. in ihe event of a total taking of the Poopeny. the proceecls chall be applied to the sums securcd by this Mortgage. with the ezcess, if any, pa+d lo Bonower. ln thc eve~t of a partial taking of the Property. unless Borrower and I.eoder otherwise agree in writing, the~s shall be applied to the ~ums secured by ihis Mongage such proportion ot the proceeds ~ as is equal to that proportion w•hich Ihe amcH~nt of the sumc secured by this Morigage immediately prior to the date of ' t3king bears to the fair market value of the Pmpeny immediately prior to the date of taking, with the balance of the pr+oceeds pai~ 4~ Borrorver. 1~ the Property it al~andoned by Borrower. or if. afte~ notice by i.ender to Bomower that the rn~demrwr offers to malce an a~ra~d or settle a claim for damages. Borrower fail~ to respnnd to 1_ender within 30 days after the dat~ such notice is maikd. I.erider ic authorized to collect and apply the proceeds, at 1_ender s option, either to restontioo or repair of the Pr~perty.or to the sums secured by this Mortgage. ~ Unless Lender and Borrower otherwice agree in w•rit~ng. any such application of proceeds to principal shal) not extend or postpone the due date of the monthly iostallments referred ta in paragraphs 1 and 2 hereof or. change the amount of such installments. - ~ - 10. Dorrower Not Released. Extension of the time for payment,or modification of amortization of the sums secured by this Mortgage granted by i_ender to any cuccecsor in interect of Borrower shall not operate ta rclease. in any manner, the liability of the original Borrower and Bc?rrower'c successorc in interest. I_ender -shall not be requircd ta commence proceedings against such successor or rcfuse to exteod time for payment or otherwise modify amortizat~on of the ~~~ms secured by this Mortgag~ by reasan of any demand made by Ihe original Borrower and Bortawer's successors in intercct_ 11. Forbearance by Lender NM a Waiver. Aoy f~rbearance by i.ender in exercising any right or remedy hercunder, or otherwise afforded by applicable law, shall not be a waiver of or preclude the exercise of any such right or remedy. Tht procurement of insurance or the payment of taxes ar other liens or charges by Ixnder shall not t~e a waiver of I.ender's right to accelerate the maturity of the indehtednecs cecured hy this Mortgage. 12. Remedies Comulati~e. All reme~lies provided in this Mortgage are distinct and~cumulative to any other right or rcmaiy under this Mortgage or aftorded by law or equity. and may be exercised concurrently. independently or successively. ' 13. Sacce~ors aad Assi~es Boa~: Joint and Sereral t.iability; Csptlons. The covenants and agreements herein _ contained shall bind, and the rights hereundor shall imire to, the respective successors and assigns of.Lender aod Borrower. subject to the provisionc af paragraph 17 hereof. All covenants and agreements of Borr~wer shall be joiry and uveral. The captions and headings of the paragraphc of this Mortgage are for convenience only and are not to be used to interpret or de6ne the provisions hereof. _ 14. Notke. Eacept for any notice required under applicable law to be given in another manner, (a) any notic~ to BoROwer provided for in ihis MortRa¢e shall be given hy mailing such notice by certifitd mail addressed to Borrower at the Property Address or at such ~~thcr addre~t as Aormwer may designate by notice to l.ender as provided herein. and (b) any notice to Lender shall he gi~'en by certified mail, return receipt rcquested. to I.ender s address stated herein or to such other address as Lender may desi¢nate by notice to Bormwer as provided herein. Any notice provided for in ihis Mortgage shall be deemed to ha~e been given to Borrow~er or l_ender when given in the manner d~signated herein. 1S. Uniforn~ MorlRaRe; Governi~ Iaw; Severability. This form of mortgage combina uniform covenants for national rn use and non-uniform covenantc with limited variations hy juriuiiction to constitute a uniform security instrument rnvering real property. This Mortgage shall be governed hy the law nf the jurisdiction in which the Property is located. ln the eveM that any provision or clauce of thic Mortgage nr the Note conflicts with applicable law, such conflict shall not affect 'i other provisions of this Mortgage or the Nc?tr which can be given effect without the conflicting provision, and to this end the provisions of the Mortgage and the ?~tote arc ~kclared to he severable. 16. Borrowe~s Copy. Borrower shall bc furni~hed a conformed copy of the Note and of this Mortgage at the time ~ of execution or after rccordation hereof. ' ; 17. Traosfer of the Property: Assumption. If all or any part of the Property or an interest therein is sold or transferred ~ by Borrower without Lender s prior wrinrn consen~. excluding (al the creation of a lien or encumbrance subordinate to ~ this Mortgage. (b) the creat~on of a purcha~e m~ne~• ~ecurity interest for household appliances. (c) a transfer hy devise. ; descent or by operation of law upon the dcath of a joint tenan~ or (d1 the grant of any leasehold intercst of threc ycars or less ; not containing an option to purehase. Lender may. at l.ender's option, declare all ~he sums secured by this Mortgage to be ' immediately due and payable. 1_ender chall have N~;+i~ed such option to accelerate if, prior to the salt or transfer. I_ender ~ and the person to whom the Property i~ tu t?c :o1J or. transferrcd reach agreement in writing ihat the credit of ~uch percon x is satisfactory to Lencier and that the inter«t pa~•able on the sums secured by this Mortgage shall be at such rate ac I.ender ~ shatl request. If [_ender has waived the option to acceterate provided in this paragraph 17, and if Borrower's successor in ~ interest has executed a written assumption agreement acceptrd in writing by [.ender, Lender shall release Borrower fmm a!I ~ obligations under this Mortgage and the Note. ~ If Lender exercises such option to accelerate. Lender ahall mail Borrower notice of acceleration in acrnrdanc< ~~h ~ paragraph 14 hereof. Such notice shall provide a period of not Iess than 30 days ftom the Jate the notice is mailed within ~ which Borrower may pay ihe sums declared due. it Borrower faits to pay such sums prior to the expiration of cuch peric•d. Lender may, without further notice or demand on Borrower. invoke any remedia permitted by paragraph 1R hereof. ~ NoH-UH~FOa~t CoveN~rrrs. Bonower and I.ender funher covenant and agne as follows: ~ la. Accelerstioo; Raoedks. Except as pmvlded in para~raph 17 hereof. opon Eor~ower's breach of aay co~caaat or ' a~reemeot of norrower io thts Mort~age. iacludi~ the covenants to pay whea due sny sams secnrtd by thLs Mort~aLe. l.tader prbr to secelerst~oo shdl msil notice to Eorrov?er as provldcd in par~rapA 14 hereof specHpieg: (1) tbe bresch: (2) Ihe actbn - requ~ed to core sec6 bresch; (3) a date. aot less tbsn 30 days fmm the dale tbe notke ts msikd te Sorrower. bY which such brexb m~p be cared; aod (1) thaR failure to cun svch breach on.or before tbe date spec~ed ia the notice nuy resdt ie 3 aeceleratio~ of tbe mms secwed by tl~ Mo~tg~e. tosecbwre by judicial proceediu= and sak of tbe Pwpe~ty. The notice ` s6ali fnrtAer iuform Eo~ower of the ri~ht to reinstste after sccekratbn snd tbe right to ~ssert in tbe ~oreclosure proceedi~ , tbe uun.esistenct ot a defauN or any Mher defatse of Borrower to sccekration snd toreclosore. If the bnscl~ is not cured oa ~ u ; or before tbe date speci6ed ii the notice. Lender at l.ender's option may declare sq of tfie snms secnred by tbis Mo~tRsRe to be ` immediately dne and psyable w'ithoof fuNher demand ~nd mar foreclose thk Mortsa~e by j~edicid pro~eedinR• I.ender clull ~ be eotitled to colket in sacl~ Proceedin~ aq expenses of toreclosure. includin`~ but aot Iimited to, rtasowbk morney's fees. aad costs ot docomeatary eridenee. abstr~cis and lilk rcpouts. ~ 19. Donower's Ri661 to Reia~tate. NcNu•ithctand~ng Lender s accderation of the sums securcd by tha Mortgage. ~ r, Borrower shall have the right to have any proceed~ngs hegun ~y 1_ender to enforce this Mortgage discontinued at any time t BURK JO1 i'A~.E 8~~ ~ ~ ~ ~ F'~G. .r_~~r h : . - - _ i ~ ~ ~ ~ . ~"`-s~ . ~ , : _ _ _ ~ _ - ~ _