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Home My WebLink About04128. Ipspectlon. I.ender may make or cauee to be made reaeonable entriee upon and inopections of the property, provided that l.ender shaU give Borrow~ notice prior to any such inspection specifying reasonable cause therefor related to l.ender's interest in the Property. 9. Coadeuanation. The proceeds of any award or claim tor damages, disect or rnnsequential. in conAe~Kion with any oondemnation or other taking of the property, or part thereof, or for rnnveyance in lieu of rnndemnation, an hereby asaigned a~d ehall be paid to I.ender. In the event of a total taking of the Property, the proceeds shaU be applied to the suma eecured by this Mortgage, with the escees, if any. paid to Borrower. In the eve~t of a partial taking of the Property, unless Borrower and Lendet otherwiee agree in writing, there shall be appGed to the eums aecured by this Mortgage euch proportion of the proceede ae ia equal to that Nroportion which the amount of the sums eecured by thia Mortgage immedietely prior to the date of taking bears to the fair market value of the Piroperiy immediately prior b the date of taking, with the balanca of the proceede paid to Iiorrower. If the Property is abandoned by Borrower, or if, after notice by l.ender to Borrower that the oondemnor oPfere to make a~ award or eetde a claim for damages. Horrower faile to reepond to Lender within 30 days aRer the date euch notice is mailed, l.ender ie authorised b collect and apply the proce~.de, at l.ender'e option, either to restoratioa or repair ot the property or to the aume eecurcd by this Mortgage. Unlese Lender and Borrower otherwise agree in writing, any auch application of proceeds to principal ehall not e:tend or postpone thedue date of the monthly inatalimente referred to in paragraphs 1 and 2 hereof or change the amount of auch installments. - 10. Rorrov~ eT Not Released. ~xtenaiwi of the time for paymant or modification of amortizatiun of the eums eecured by this Mortgage granteri by l.ender to a~y auccesaor in interest of Borrower ahAll not operate to release, in any manner, the liability of the original Borrower and Borroveer'a successors in intereat_ l.ender ahall not be reyuired to eommence proceedinqs againat such successor or refuse to extend Gme for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demana made by theoriQinal Borrower anu iwrr~wMr's sucrec~,ors in inte~est. 11. Forbearance by Lender Not a Weiver. Any forbearance by I.ender in exercieing any right or rnmedy hereunder, or otherwiee aftorded by applica6le law, ahall not be a waiver of or preclude the exercise of any such right or remedy. The pmcurement of ineurance or the payment of ta~ee or other liens or chargea by l,ender ahall not be a waiver of l,ender'e right to accrlerate the maturity of the indebtednesa secured by this Mortgage. l`l. Nemedies Cumulative. All remedies provided in thia Mortgage are diatinct and cumulative to any other right or remedy under thie Mortcage or aftorded by law or equity, and may be exercise~l concurrendy, independently or aucceesively. 13. Succesaors and AssiRne Bound; Joint and Several Liability; Captione. The covenant8 and aRreements herein rnntained ahali bind, and the riRhts hereunder ahall inure to, the reapective autt~easora and assigna of [.ender and Borrower, aubject to the proviaions of paragraph 17 hereot Al) rnvenanta and a~eements of E3orrower shall be joint and aeveral. The captiona and headings of the paragrapha of this Mortgage arn for covenience only and are not to be uaed to interpret or define the provisiona hereof. I d. Notice. F:xcept for anp notice required under applicable lnw to be Riven in nnother manner, la1 any notice to Borrower pmvided for in this htort~age shall be given by mailing such notice by certified mail addresaed to Rorrower at ti~e Property Address or at such other addreee as ~rrower may designate by notice to I.ender as provided herein, and Ib) any notice to I.ender shall be given by certified mail, return receipt requested, to l.ender's addreas stated herein or to such other address as l.ender may deaignate by notice to Borrower aR provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or l.ender when givPn in the manner designated herein. 15. Uniform Mortgage; Governing Law; Severebility. This form of mortgage combines uniform covenants for national uae and non- uniform covenants with limited variations by jurisdiction to conatitute a unitorm aecurity instrun-ent coverin~ real property. Thia Mortgage shall be govrrned by the law of the jurisdiction in which the Yroperty is located. In the event that any provision or clause of this Alortgege or the Note conflic~4 v-~th applicable law, such conflict shall not afTect other provisions of this ylortgage or thr Note which can be given effect w~thout the conflicting provision, and to this end the pro~~isiona of the Mortgage and the Note are declared to be severable. 16_ Borrower'e Copy. Eiorrower ahall be turnished a conformed copy o[ the Note and of thia Mortgaqe at the time of execution or after recordation hereof. 17. 'Iti-anafer ot the Property; Aeaumption. If all or any part of the Properiy or an interest therein is sold or tranaferred by Borrower without Lender's prior written consent, excluding ~al the creation of a lien or encumbrance subordinate to this Mortgaqe, (b1 the creation of a purchase mone~ security internst for househoid appliances, (c1 a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d1 the grant of any leasehold interest of three years or lesa not containing an option to purchase, lxnder may, at I.ender's option, declare all the ~ums secured by this Mortgage to be immetiiately due and payable_ I.ender ehall have waived such option to arcelerate if, prior to the ealeor tranafer, I.ender and the peraon to whom the Property is to be sold ortranaferred reach agreement in writing that thecreditofsuch person is satisfacton to Lender and that the interrst payable on the suma secured by thia Mort~age ahall be at such rate se~ Lender ehap request. If I.ender has w•aived the option to accelerate provided in this paraKraph 17, and i[ E3orrower's successor in interest has executed a w~ritten assumption agreement accepted in writinR by [.ender, t.ender shall rele:~e Borrower from all obligations underthia Mortgage and the Note. ' If I,ender exPr~ic~ Ruch option to accelerate, I.ender shall mail Borrow~r notice of acceleration in aca~ordance with paragraph 14 hereof. Such notice shall provide a pericxl of not less than :tlT day:~ from the date the notice is mailed vvithin v- hich Rorrower may pa~ thesums declared due_ If Rorrower fails to pay such sums prior to the expiration of such period, I.ender may, w•ithout further notice or demand on Borrower, rovoke any remedi4s permitted b~• paraRraoh 1H hereof. -A. The proceeds of the loan evidenced by the promissory note secured hereby have been ! p ~red by Lender pursuant t~ Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. ~L CIE 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 ful ly paid or provision made for such payment pursu- :f 3nt to the Indenture, whichever shall be earlier, certain loan guidelines are imposed upon ~~`L nder which must be adhered to by Lender and Borrower, any default in which by Borrower a~~',ts~iall 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 far~ily 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 11-A is in conflict with any part or parts of Covenant 17, supra, the terms of this Covenant l7-A shali prevail. ~ ~ BD~K 349 ~~GE 413 ~ 3 ~ . ~- :~ ~ ~ .:. "- : ~'~ "`~e~-€^^~TM,~- ~ . r : ~~~~~