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Home My WebLink About29788. Ia~pectioa. Iw+~der may make or cause to be msde reaaonableentrio~ upon and in~pection~ oithe pmperty, pmvided Lhat Leade~ ~hall give 8ort~o~ver notice prior to any ~uch inipection ~pecitying reawnable caws therelor nlat~ed eo Lendu's interat in the Property. 9. Coademnatioa. The proc~ed~ of any swsud or clsim for dunaRe~. direct or oon~equentisl, in connection with eny Qoademnation wr other takin~t ot the property. or part thereof, or tor conveyance in lieu o[ oondemnation, are heteby ~a~i~nsd~and ~all bs psid b Lsndes. I~ the event of a total taking of the Pcapedy, the proceeda ~hall be applied to the eums ~ecured by thu Mort~age, with the ~oe~a, if sny. pa;d to Borrower. In the eve~t ot a partial laWng of the Property, unla~ Borrower and Lender othenvi~e a~ee in ~rritins. there shaU be appGed to the auau secured by this Motlgage such proportion of the pmcced~ as u equet to that pmportioa which the amount of the auma secured by thie Mortgage immediately prior to the date of laking be+ars to the fair market vslue of the Property immadiately pri~r b the date of taking~ with the balanoa o! the proceeds paid to Borrower. If the Pcoperty is abandoned by Bonower, or ii. aRer notice by I.ender to Borrower that the wndemnor oPfen b make an sward or ~attle a claim for demage~. Borrower fails to tespond to I.ender within 30 days after the date such notioe ia mailed. Lender is authorised to coUect end apply the proccads, at Iendei s option, either to restoration or repair of the property or to the sums eecund dy t!-is Mort~age. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds b principal shall not eYtend or poetpoae the due date of the monthly installmenta referred to in paragraphs 1 and 2 hereof or change the amount of e~ch iastallments. t0. Borrower f~lot Released. E:teneion of the time for paymsnt or modification of amortization of the aums secured by this Mortgage ~tranted by Lender to a~y succeesor in interest ot Borrower shall not operate to release. in any manner. the liability of the original Borrower and Borrower e eucceasors ia intereat. Lender ehall not be required Lo oomme~ce proceedinge againet auch suoceeaor or refuse to extend time for paymer.t ar otberwise modify amortization of the eums aecured by this Mortgage by reason of any demand mede by theoriginal Borrower <~nd Aorrower's aueceaeor8 in intereet. I 1. Forbearanre by Lender Not a Waiver. Any forbearance by l.ender in e:ercising any right or remedy hereunder. or otherwise afforded by applicabie law. shall not be a waivtr o[ or preclude the exerciee of a~y such right or remedy.'11ie pracurement of insurance or the payment of teu~ee or other liens or chargea by I.ender ehall not be a weiv~ of Lender's tight to accelerate the maturity of the iadebLedness aecured by thie Mortgage. 12 Remedies C~mulatlve. All remediea provided in this Mortgage are dietinct and cumulative to any other right or nmedy under this Mortcage or ai'forded by law or equity, and may be exercise~l ooncurrendy, independenUy or suocesaively. 13. 3uccessors and Assigas Bound; Jotnt snd 3everal Liability: Ceptions. The covenante and agreemente herein oontained ahall bind, and the righte hereunder ehall inure to, the reepective succeesors a~d assigna of Lender and Borrower. aubject to the provisions of paragraph 17 hereof. All covenante and agreementa of Borrower shall be joint and eeveral. The captions and headings of the paragraphs of this Mortgage ere for covenience only and are not to be uaed to interptet or define the provesiona hereaf. 14. Notice. Except for any notiee required under applicable law to be ~tiven in anothet manner, (a) any notice to Borrower provided for in th ia Mortgage ahall be given by mailing auch notice by certified mail eddreased to Borrower at the Property Addrese or at auch other addreea as Borrower mey de8ignate by notice to l.ender as pmvided herein, and (b) any notice to I.ender ahall be given by certified mail, return receipt requeeted, to Lender's addreaa atated herein or to such other addresa ae Lender may designete by notice to $orrower aa provided henin. My notice provided for in tl~is Mortgage aha11 be deemed ta have been given to Borrower or Lender when given in the manner designated henin. 15. Uniform Mortgege; Governidg Law; Severability. This form of mortgage combines uniform oovenante for national uee and non- uniform covenante with limit~ed variatione by juriediMion to conatitute a uniform aecurity instcument oovering reaE property. This Mortgage shaU be governed hy the law of the jurisdiction in which the Property ia located. In the event that any provieion or clauee of thie Mortgage or the Note conilicte with applicable law, auch conflict aha11 not affect other provieione of this Murtgage or the Note which can be given effect w~thout the rnnflicting provieion, and to thia end the provisions of the Mortgage and the Note are declared to be aeverable. 16. Borrower's Copy. Borrower shap be furniahed a conformed rnpy of the Note and of thia Mortgage at the time of ezecution or after recordation hereof. ~ 1 T_ 'I~anefer of the Property; Aaeumption. lf all or any part of the Property or an interest therein is eold or tranaferred by Borrower without Lender's prior written conaent, exciuding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of s purchase money eecurity interest for houeehold applianees, (c) a transfer by deviee, d~scent or by operation of law upon :he death of a joint tenant or (d) the grant of any leaeehold interest of thtee years or leee not containing an option to purchase, Lender may. at Lender'e option, declare all the aums aecured by this Mortgage to be immediately due and payable. Lender ehall have waived such option b six.~eterate if, prior to the sale or tranafer, Lender and the person to whom the Property ie to be eold or traneferred reach agreement in writing that ihe credit of auch peraon ia eatisfactory to I.ender and that the interesi payable on the aume aecured by thia lVtortgage ahall be at auch rate as I.ender shall rrqueat. If L.ender has waived the option to accelerate provided in thia paragraph 17, and if Borrower e suceeasor in intereat hae e:ecuted a w-ritten aseumption agreement accepted in writing by Ixnder, l.ender ehall tetease f3orrower ftom all obligationa undet this Mortgage and the ti ote. If Lender eaerciaes auch option to accelerate, lxnder ahall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. ~uch notice ahall provide a period of not less than 3~ days from the date the notice ia ir.ailed within which Eiorrower may pay the auma declared due. If Bortower fails to pay such sums prior to the expiration of auch period, I.ender mey, without further notice or demand on Borrower, in~oke any remediea permitted by paraqraoh 18 hereof. ;-~~, 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been ~~~ procured by Lender pursuant to Loan Agreement between NOUSING FINANCE AUTNORITY OF ST. LUCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Authority of St. Lucie County, Florida, in said Agreement having been assigned to FIORIDA NATIONAL 6ANK OF M1AMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of St. Lucie County, Florida. Under the terms of said Loan Agreement ~hich expires at such time as all the Bonds shall have been fuily paid or provision made for such payment pursu- ant to the Indenture, whichever shall be earlier, certain loan guidelines are imposed upon Lender which must be adhered to by Lender and Borrower, any default in which by Borrower shall automatically accelerate all remaining unpaid installments remaining due under the promissory note secured hereby. A copy of the Loan Agreement is on file with Lender, Housing Finance Authority of St. Lucie County, Florida, and Florida National Bank of Miami, availabl~e for examination by any party during legai business hours 'of each business day. Among other things, the loan guidelines in said agreement provide as tollows: "Mortgage loans, with the exception of FHA-insured or VA-guaranteed mortgage loans, may not be assumed except by a person or family which would have been eiigible for a mortgage loan originally under these guidelines for a term not to exceed the term of this agreement. The interest rate on the mortgage loan may be increased in the event of such an ass~mption, but only after the agree- ment has terminated. In the event a mortgage loan is assumed, lender may not charge or impose an assumption fee in excess of one percent of the outstanding principal amount of the mortgage loan." If any part or parts of this Covenant 17-A is in conflict with any part or parts of Covenant T7, supra, the terms of this Covenant 17-A shall prevail. R~'~347 P~6f297~ ~ ~ ~{ ~~~:~ ~s~_._y _ =,:~