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Home My WebLink About01248. IaapecUod. I.ender aasy mske or c~we to be made na~oAable eAtrie~ upoa and inipection~ oithe property. provided th~t Lsadsr ~hall give Hoirowet aotice prior ~o ay ~uch uupsction specifyin~ reswneble caws th~efor relsted to Lsndez'~ iaeere~t iA the Propsr4Y. ; 9. Condemnadoa.'11~e psoceed~ of aay swerd or cb+m for dame~e~. direct or oon~equeatid.111 OOIipOC~IOA MIu1 ~Ry OOAd![~A~Z10p O[ other taking oi the propa:ty. o~ part thereoi. or for oonveyance u- lieu of oondemaation. are hereby a~siQned and shaU b paid to Ieades. In the event oi a total tatin~ of the Pe~opsrty~ the proceeda ~hall be applied to the t~u secured by this Mort~a~~, ~rith ~e e~coew, ii any, paid to Borrower. In ths event of a partial taking of the Prope:ty. unlew Borro~ves and Lender othec~vi~e egree ia writinQ. tbere ~hall bs applied b the sum~ secueed by thu Mottge~s such proportio~ of the prooeede aa u equal to that proportioa which t1~e amount of We ~ums eecured by this Mortgage immediately prior to the dete o! taking bean to the fair markd value of the Property immediately prior to the date of taking. with the balanca of the proceede psid to Borrower. II the Property is ebandoned by Borrower. o: if, aRer notioe by Lender to Bortawer that the oondemnor o~an to meke sa a~rerd or ~eWe a claim for dameges, Bosrower faib to respond to [,ender within ~0 daye afte~ the date such notioe ie mailed. Lender is authorised to collect and apply the proceeds, at I.~nder's option. eitha to nstoratioa or repair of the pmperty or b the sums secured by thu Mortgage. Unless I.ender and Horrower otherwise agree in writing, any such application of proceeds b principal ehaU not estend or po~tpone the due date of the monthly inataAmenb referred to in paregraphs 1 and 2 hereof or change the amount of such installmeats. 10. Borrower Not Released. Extension of the time for paym~nt or modification of amortization of the sums ~ccured by this Mortgage granted by I.ender to any eucceasor in intereat of Borrower ehaU not operate to releaee, in any manner, the liability of the originel Borrower and Borrower e eucceesore in interea~ Lender ahall not be required to oommence proceedings against euch succeseor or nfuae to e:tend time for payment or otherwise modify amortization of the aums secured by this Mortgage by reason of any demand made by the original Borrower and Borrower e aucceasoca in interest. I 1. Forbearance by Lender Not a Waiver. My forbearance by Ixnder in e:ercising any right or remedy hereunder, or otherwise afforded by applicable law, ehall not be a waiver of or preclude the e:erciee of any such right or remedy. The procurement of inanrance or the payment of ta~cea or other liene or charges by Lender ahall not be a waiver of I.ender s right to accelerate the maturity o! the indebtedness aecured by this Mortgage. 12 Remedies Gtimulative. All remediee provided in this Mortgage are distinct and rumulative to any other right or remedy under this Mortcage or af[orded by law or equity, and may be e:ercisevi concurrendy. i~dependendy or succeesively. 13. Successors and Assigns Bound; Joint aad 3everal Liability; Ceptlons. The covenante and egreementa herein oontained shall bind, and the righte hereunder ehall inure to. the respective succeesors and aesigna oi Lender and Borrower. eubject to the provisions of paragraph 17 hereof. All covenants and agreementa of Borrower ehall be joint and several. The ceptione and headinga of the paragrapha of thie Mortgage are for covenience only and are not to be used to interpret or define the pmvisione hereof. 14. Notice. F.xcept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided forin thie Mortgage shall be given by mailing auch notice by ceriified mail addreeeed to Borrower et the Property Addreee or at euch other address ae Borrower may deeignate by notice to I.ender as provided herein. and (b) any notice to l.ender sha11 be given by certified mail, retum receipt requeated, to Lenderb addrees atated herein or to auch other address as Lender may designate by notice to Borrower ae provided herein. My notice provided for in thia Mortgege shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uni[orm Mortgage; Governing [.aw; Severability. This form of mortgagecombinea uni[orm oovenantefor national ueeand non- uni[orm covenante with limited variationa by juriediction to constitute a uniform eecurity instrument oovering real property. Thie Mortgage shall be governed by the law of the jurisdiction in which the Property ie located. In the event that any provirion or clauee of this Mortgage or the Note conflicte with appiicable law, euch conflict ahall not affect other provisione of this Murtgage or the Note which can be given eKect without the conilicting pmviaion, and to this end the proviaione of the Mortgage and the Note are declared to be aeverable. 16. Borrower's Copy. Borrower ahall be furniehed a conformed rnpy of the Note and of thie Mortgage at the time of execution or after recordation hereof. 17. '[lranefer of t6e Property; Aesumption. If all or any part of the Property or an intereat therein is sold or transferred by E3orrower without Lender a prior written conaent, e:cluding (a) the creation of a lien or encumbrance aubordinate to this Mortgage, (b) fhe creation of a purchase money eecurity interest for huusehold appliancea, (c) a tranafer by devise. deacent or by operation of law upon the death of a joint tenant or (d) the grant of any leaaehold interest of three years or leas not eontaining an option to purchase, Lender may, at Lender's oplion, declare aU the suma eecuree by this Mortgage to be immediately due and payable. Lender shall have waived euch option to accelerate if, prior to the eale or tranafer, I.ender and the peraon to whom the Property is to be aold or trans[erred reach agreemeat in writing that the credit of snch peraon ia eatiefactory to Lender and that the intereat payable on the eume secured by this Mortgage shall be at auch rate as Lender ehall request. If Lender F~as waived the option to accelerate provided in thia paragraph 17, and if Borrower a aucceeaor in intereet hae e~cecuted a written asaumption agreement accepted in writing by I.ender, Leader ehall rnleaae Borrower from all obligations under thia Mortgage and the :Vote. If Ixnder exerci,~es auch option to accelerate, l.ender ehall mail Borrower notice of acceleration in accordance with paragraph 19 hereof. Such notice ahall provide a period of not lese than 30 daya from the date the notice is rr.siled within which Borrower may pay the suma declared due. If Borrower fails to pay such aume prior to the e:piration of euch period, I.ender may, without further notice or demand on E3orrower, ~nvoke any remedies permitted by paragraoh 1R hereof. 17-A. The proceeds of the loan e~~denced 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. ~ucie County, Florida, in said Agreement'having been assigned to FLORIDA NATIONAL BANK OF MIAM1, 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 fully paid or provision made for such payment pursu- ant to the Indenture, whichever shall be earlier, certain loan guidglines are imposed upon Lender which must be adhered to by Lender'and Borrower, any default in which by Borrower shall autamatically accelerate all remaining unpaid installments remaining due under the promissory note secured hereby. A copy of the Loan Agreement is on file with Lender, Nousing 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 ioan 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 lcan 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 assumption, 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 17, supra, the terms of this Covenant 11-A shall prevail. ; ~ a«';K 349 PAGE 124 ~ _ ~~ _ . . _ ~_v_ ._ _ . _ ~~