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Home My WebLink About03678. laspectioa. Lender mey make or cauee to be made reawnable entriee upon and inspectione of the property, provided that Lender ahall give Borrower notice prior to any such inspection specifying reaaonable cauee therefor related to Lender's inte~eat in the Property. 9. Coademnetion.'l~e proceeds of any award or claim for damages, direct or consaquential, in connection with any oondemnation or other taking of the property, or part thereof. or toT conveyance i~ lieu oi oondemnation, are henby auigned and shaU be paid to I.end~. In the event of a total taking ot the Property, the proc~eeda shall be applied to the eume secured by this Mortgage. with the e:cess. i[ any, paid to Borrower. In the event of a partial taking ot the Property. unleea Bo~rower and I.ender otherwiae agree in writing, there ahall be applied to the aume eecured by this Mortgage ~uch proportion ot the pra.~eeda as is equal b that proportion which the amount of the sums aecured by thie Mottgage immedietely prior to the date of taking beara to the fair market value of the Property immedialely prior to the date of taking, with the balanca of the proceede paid to Bonower. If the Property is abandoned by Borrower, or if, after notice by Lender to Borrower that the oondemnor offere to make an award or settle a claim for damages, Borrower faile to respond to Lender within 30 daye aRer the date euch notice ia mailed, I.ender is authorised to coUect and apply the proceeds, at Gender's option, either to reatoration or repair of the property or to the aums eecured by this Morlgage. Unleee Lender and Borrower otherwiee agree in writing, any such epplication of proceeds to principsl shell ~ot e:tend or postpone the due date of the monthly inatallmenta referred to in paragraphs 1 and 2 hereo[ or change the amount of auch ia~taUmente. 1~. Borrower Not Released. Exteneion of the time tor paym~nt or modification of amortization of the euma secured by this Mortgage grartted by [.ender tu any eucceaeor in interest of E3orrower ehall not operate to rnlease, in any manner, the liability ot the original Borirower ~nd E3orrower's auccesuore in internst. l.ender shnll not be reyuired to rnmmence proceedinqa againat such auccesaor or retuae to extend time for payment or otherwise modify amortization of lhe sume uecured by this Morigage by reaeun of any demand made by the original Borrower <ind Borrow.tr'~ xu:~~es.aora in intereat. i l. Forbearance by I.ender Not a Waiver. Any forbearance by Lender in e:ercising any riqht or remedy hereunder, or otherwiee afforded bv applicxbla law, shall not be a waiver of or preclude the exerciee ot any euch right or remedy. The pmcurement of inaurance or the payment ot ts~xee or other liens o"r charges by Lender ehall oot be a waiver of Lender'a right W accelerate the maturity of the indebtednesa srcured by ihis Murtgage. ' 12 Remediee Cumalative. All remediea provided in thia Mortgage are diatinct and cumulative to any other right or remedy under thie Mortc•age or afforded by law or equity, and may be exerriee~l concurrendy, independently or eucceeaively. 13_ Succeaeore and Aaeigns Bound; Joint and Several Liability; Captione. The rnvenants and agreementa hereim m~tained ahall bind, and the righta hernunder shall inure to, the respective au^cessors and aeaigna of I.ender and E3~rrower, subject to the provisione nf pazagraph 17 hereof. All covenants and Agreements ot Borrower ahAll be joint and several. The captiona and headings of the paragraphs of this Mortgage are for cove~ience only and are not to be used to interpret or define the pmviaiona hereof. ! a_ Notice. Except for any notice required under npplicable law to br ~Civen in another mnnner, (a) any notice to Borrower provided for in this Mortgage shall be Riven by mailing such notice bycertified mail addreaeed tol3orrower at the Ptoperty Addreae or at auch otheraddreae as Rorrower may deeignate by notice to l.ender ae provided herein, and (b) any notice to I.ender shall be gi~~en by certified mail, return receipt requested, to [.ender'e addreas atated herein or to auch other addreas as Lender may d~signatr by notice to Borrower ax provided herein_ Any notice provided for in this MortgaKe ahall be deemed to hAVe been given to Borrower or Lender when given in the manner designated herein. lb_ Uniform Mortgage; Governing Law; Severability.7'his formof mortgagecombines aniform covenanta for national useand non- uniform covenants with limited variationa by jurisdiction to constitute a uni[orm security instrument covering real property. This Mortgage shall be govrrned by the law of the juriadiction in which the Hroperty is Icented. In thpevent that any provieion or clause of thia tllortgage or the Note conflicts w~th applicable law, such contlict shall nat affect other pmvisions of thie Mortgage or the Note which can be given eftect w-ithout the contlicting provision, and to this end the provisions of the MortKage and the Note are declared to be severabie. 1_Fi: ~nr~tfwa+T~! G4nv, Rnrmkrpr ol.oli i,n f~;rn;aF~di .°. ..,nf .wn r1 .'v,"~3 O~t~i£ :~.^..t nai~ CSl~{i:a IIiI..a,..... •~~, e_ a us c~-.nKF aa ua2 tiaTtc f3t c3if'a:ii~lUii U~ 3~~Ci recordation hereof. 17. Tranefer of the Property; Aeeumption. If all or any part of the Property or an interest therein is aold or tranaferred by Borrower w•ithout I.ender'a prior written consent, excluding Ia1 the creatiun of a lien or encumbrance aubordinate to thia Mortgage, (b) the creation of a purchase money security intrrest tor houaehoid appliancea, (c) a tranafer by devise, d.~scent or by operation of law upon the death of a joint tenant or ld) the grant o! any leasehold inteteat of three years or leae not containing an option to purchase, I.ender may, at I.ender e option, declare all the sums secured by this Mortgage to t-e immediately due and payable. Lender ahall have waived surh option to accelerate if, prior to the sale or tranafer, l~ender and the person to whom the Property ia to be sold or tranaferred reach agreement in writing that the credit of auch person ia satisfactory to l.ender and that the interext payable on the suma secured by thia MortgaKe shall be at such rate as Lender ahall request. If I.ender has waived the option to accelerate provided in thia paraQraph I?, and if E3orrowei s successor in intereet hae executed a u-ritten assumption agreement accepted in w~ritinK by Ixnder. I,enderehaU release B~~rruwerfrom all obliQations underthia Mortgageand the ti ote. 1f Lender exercises such option u- ~ccelerate, l.ender shall mail Rorrower noticeof acceleration in accordance with paragraph 14 hereof tiuch notice shall provide a period of not lea~ th:~n 3(ldays frum thedate the notimis rr.liled within which Borrowermay paV thesums declared due. If Borrower faiis to pay such sums prior to the expiratiun of such period, I.ender may, without further notice or demand on Borrower, ~n any remedies permitted b~ paraKraoh iR hermf. ~ 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been pr ed by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. !UCIE COUNTY, Florida, and Lender, the interest of the Nousing Finance Authority of St. ~,-~Lucie County, Florida, in said Agreement having been assigned to FLORIDA NATIONAL BANK OF ~L MIAMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of ~(St. Lucie County, Florida. Under the terms of said Loan Agreem~nt which expires at such k' time as all the BQnds shall have been fully 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 Borrowe~, any default in which by Borrower si~ail autanaticaiiy acceierate aii remaining unpaid instaiiments rerwining due under the promissory note secured hereby. A copy of the Loan Agreement is on file with Lender, Hous1ng 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 fo~lows: "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 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. ~ ! ~~~K 349 f~a~E 3f 8 - ~ ~ ~ ~~ y _ _ ~ -~-,:.~ _t ~~ .,~ . .~. .. ... .. _ , ~__ r~~