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Home My WebLink About00418. la~pection. Lender may malce or cause to be made reawnable entrie~ upon and inspectiona of the properfy, pmvided that Leader ahall give Bormw~ notice prior to any such inspection specifying reasoaable cause therefor related to l.eader's interat ia the Prop~ty. 9. Condemnatioa. The proceeds of any award os claim for damages, direM or cortsequential, in connection with any ooademastioa or other taking of the property. or part thenof, or [or cvnveyance in lieu of condemnation. are henby asaiQned and shall be paid b Lender. In the event of a total takiag of the Property. the proceeds shaU be appUed to the sume secured by this Mortgags. with the euoes~. if a~y, paid to Borrower. In the event of a partisl taking of the Property, unleas Borror~er and Leader otherwiee agree i~ ~vriting, there shall be applied to the sucae secured by this Mortgage such proportion of the proceeds as ia equal b that pmportion which We amount of the sums eecured by thia Mortgage immediately prior to tl~e dste of taking bears to the fair market value of the Properly immediately prior b the date of taking, with the balanc~ of the proceeds paid to Borrower. If the Property is abandoned by Borrower, or if, after ~otice by Lender to Borrower that the condemnor otrers to make an award or settle a claim [or damages. Borrower fails to respond to I.ender within 30 daye aRer the date such notioe is mailed, l.ender is avthorir~ed to rnUect and apply the proceede, at I.ender's option, either to reetoration or repair of the property or to the suma secured by this Mortgege. Unlese [.ender and Borrower otherwise agree in writing. any euch application of proceeds b principal shall oot eacten~ or postpone the due dete of the monthly installmenta nferred to in paragraphe 1 and 2 hereof or change the auwunt of such instaUa~ents. 10. Borrav-xr Not Releaeed. Extension of the time for paymant or modification of amortization of the suma secured by this Mortgage Qranted by [.ender to any euccea9or in intemet of Rorrower shall nol operate to release, in any manner, the liab0~ty of the origi~al Borrower and Borrower'a aucceseora in interest. Lender ahall not be required to rnmmence proceedinga aRainat euch auccesaor or refuae to extend time for pa ~mPnt cx otherwi;e modify amortization of the auma secured by this Mortgage by reason of any demand made by theuriginal ~rrower and Rorrower s successorn in inte~est. 21. Forbearance by I.ender Not a Waiver. Any torbearance by Lender in e:errieing any right or remedy hereunder, or otherwiee affonlcd by ayplicable law, ahall ~ot be a waiver of or preclude the exerciee of any such right or remedy. The pmcurement of inaurance or the payment of taxea or other liens o~ chargee by Lender ahall not be a waiver o[ Lender s right to aecelerate the maturity of the indebtedneas aecured by thie Mortgage. 12. Remediee•Cumulative. All nmediea provided ih tbia Mortgage are distinct and cumulative to any other right or remedy under this ::~rt~-~ge or afforded by law or equity, and may be e:ercieed ~oncurrently, independently or succeseively. ' 13. Succeseors and Aseigne Bound; Joint and Severa! Liability; Captione. The covenante and agreements herein contained ahali bind, and the righte hereunder ehalt inure to, the respective auci.-eeaore and asaigne of I.ender and Borrower, eubject to the provisione uf paragraph 17 hereof. All covenants and ngreemente of I3orrower ahall be joint and eeveral. The captiona and headinga of the paragirapha of this Mortgage are for covenience only and are not to bP uaed to interprel or define the proviaions hereof. 14. Notice. Except for any notice required under Applicable lavr tn be Qiven in s~nother manner, (a) any notice to Borrower provided for in this Mortgage ahall be gi ven by maili ng such notice by certified mail addreased to Borrower at the Property Add resa or at such other addraes ae Borrower may designate by notice to I.ender as provided herein, and (b) any notice to I.ewder ahall be given by certified mail, return receipt requested, to l.ender's addreas atated herein or to such other addrees as Lender may designate by notice tu Eiorrower an provided herein. Any notice provided for in thia Mortgage aha{l be deemed to have been given to Rormwer or Lender when given in the manner deaignated herein. !5_ Uniform Mortgage; Governing Law; Severability. This form of mortgagecombinea uniform covenanta for national use and non- uniform covenants with limited variations by jurisciictiun {o conatitute a uniform aecuritv inatrument covering real property_ Thie Mortgage shall be guverned by the law of the jurisdictiun in which the Property is lceated. In the event that any proviAion or clause of thie Mortgage or the Note contlicts v-~th applicab!e law, such conflict ahall not affect other provisions of this Mortgage or the Note which can be Riven ef[ect without the contlictinq provision, and to this end the proviaiona ot the :Vlortgage and the Note are declared to be aeverable. 16. Borrower'e Copy. E3orrower ahal! be furniahed a conformed copy of the Note and of thie Mortgage at lhe time of execution or after rernrdation hereof. 17. Tranafer ot the Property; Asaumption. If all or any part of the Property or an intereat therein is aold or traneferred by Borrower without Lender's prior written cenaent, excludinK (a> the creation of a lien or encumbrance aubordinate to thia Mortgage, (b) the creation of a purchase money security intereat tor houaehold appliancea, (c) a tranafer by devise, d~acent or by operation of lnw upon fhe death of a joint tenant or (d) the grant of any leasehold intereet of three years or less not rnntaining an option to purchase, I.ender may, at l.ender'a option, declare all the aums secured by this Mortgage to be immediately due and payable. I.ender shall have waived euch option.toaccelerate if, prior to the sale or tranefer, I.ender and the persun to whom the Property is to be sold or tranaferred reach agreement in writing that the credit of euch person is satisfactory to Lender and that the ihterest payable on the aums secured by this Mortgage shall be at such rate as Lender ehall request. If l.ender has w aived the optiun to zccelerate provided in this paragraph 1?, and if E3orrower's succesaor in interest has executed a written assumption agreement accepted in writinK by I.ender. l.ender shall releasE Korrower from all obli~ations under this Mortgage and the ti ote. If I.ender exercises auch option to accelerate, l.ender shall mail Borrower noticeof acceleration in acrordance with paraqraph 14 hereof. Such notice ahall provide a period of not le~x thxn :ifl days from the date the notecr.:a mailed within which Borrower may pav the suma declared due. If Borrower fails to pay such sums prior to the expiratian of such peri~~d, I.ender may, without further notice or demand on E3orrower, mvoke any remedies permitted by paraQrnoh t~ hermf. 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been procured by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY 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 FLORIDA NATIONAL BANK OF -, MIAMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of ~ St. Lucie County, Florida. Under the terms of said Loan Agreement which expires at such time as all the Bonds shall have been fuliy 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, available for examination by any party during legal business hours of each business day. Among other things, the loan guidelines in said agreement provide as follows: "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 eligible for a mortgage loan originally under these guidelines for a tern! not to exceed the term of this agreement. The interest rate on the mortgage loan may be increased in the event of such an assumption, but only after the agree- ment has terminated. In the event a mortyage 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." lf any part or parts of this Covenant 17-A is in conflict with any part or parts of Covenant 17, supra, the terms of this Covenant ~~-A shall prevail. ~~~K 349 PacE 41 ~~ _ :. : _: ~_._ _ ~_ _ ~ _ ~M - - - ~