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Home My WebLink About07658. laepection. l.e~der msy make or cause to be made reasonable entries upon and inspectiona of the property, provided that I.ender shall give Borrowet notice prior to any such inspection specifying reaaonable cauee therefor related to l,ender's interest in the Property. 9. Coademnation.'R~e pmceeds of any award or clai~n for damages. direct or co~sequential, in rnnnection with any oondemnation or other taking of the property, or patt thereof, or for conveyance in lieu of condem~ation, an hereby aaaigned and shaU be paid to Lender. In the event ot a total taking of the Property, the proceeds ehall be epplied to the aums secured by this Mortgage. with the excess, if any. paid to Bocrower_ In the event of a partial taking of the Property. unlees Borrower and Lender otherwise agne i~ writing. then shall be applied to the eums eecured by this Mortgage such proportion of the proceeds as is equal to thet pmportion which the amount of the sums eecured by thie Mortgage immediately prior to the date of taking bears to the fair market value of the Properiy immediately prior to the dete of taking, with the balanca of the proceede paid to Borrowe~. It the Property ia abandoned by Borrower, or if, after notice by I.ender to Borrower that the rnndemnor o~fers to make an award or settle a claim for damagea, Borrower faile to respond to Lender within 30 days aRer the date euch notice is mailed, Lende~ is authorized to collect and apply the proceeds, at l.ender'e option, either to reatoratio~ ur repair of the property or to the eums sec~ by this Mortgege. Unlese Lender and Borrower otherwiee agree in writing, any euch application of proceeda to principal all not e:tend or postpone the due date ot the monthly inetaUments referred to in paragraphe 1 end 2 hereof or change the amount of auch instaliments. 10. Borrower Not Releesed. Exteneion of the time for paymsnt ot modification of amortization of the sume secured by thia Mortgage granted by I.ender to any eucceaeor in interest of 13orrower ahnU not operate to release, in any manner, the liability of the original Borrower and E3orrower's succesaors in interest. I.ender shal! noi be required to commence proceedinga againat such aucceeaor or refuse to extend time for payment or othen+rise modify amortization of the suma secured by thia Mortgage by reason of any demand made by the original t3orrower and Borrower'a successorx in interest. i l. Forbearance by l.ender Not a Waiver. Any forbearance by Lender in exercieing any right or remedy hereunder, or otherwiee atYorded by applicable law, ahall not be a waiver of or preclude the exercise of any euch right or remedy. The pmcurement of ineurance or the pavment of ta~cea or other liene or chargee by Lender shall not be a waive~ of I.ender'e right to accelerate the maturity ot the indebtedneee secured by this Mortgage. 12 Remedies Cumuletive. All remediea provided in this Mortgage are distinct and cumulative to any other right or remedy under thie Mortcage or afforded by law~ or equity, and may be exercise~l concurrenUy, independently or aucceseively. 13. Successore and Aeeigne Bound; Joint and Several Liability; Captione. The covenanta and agreementx herein contained ehall bind, and the righte hereunder shall inure to, the respective aucceesore and assigna ot Lender and Borrower, aubject to the provieione of paragraph 17 hereof. All covenanta and agreemente of ~3orrower ahall be joint and aeveral. The captions and headings of the paragraphs ot this Mortgage are for covenience only and are not to be used to interpret or define the provieione hereof. 14. Notice. F xcept for any notice required under applicable law to be Riven in another manner,lal any notice lo Borrower pmvided for io this Mortga~e shal! be given by mailing such notice by certified mail addressed to Eiorrower at the Property Addreea or at auch other address se Borrower may designate by notice to I.ender as provided herein, and (b) any notice to I.ender shall be given by certified mail, retum receipt requested, to Lender's addresa atated herein or to such other addreae as Lender may designate by notice to I3oTrower ax provided herein. Any notice pro~~ded for in this Mortgage ahail be deemed to have been given to Borrower or I.ender when given in the manner deaigr-eted herein. 1.~.~ I inlflirT}x PY1nrle~os.~ s£2~'~3 32II:p ~.31':"; ~$E~P3.h.:~:~~. ~::°o .~.::... G~.f ::.~.i ~iyti', i3iivii~ao viaiiv'ii~~ i`viciioi.so ~v'Y i~a~iG~i~i$i :i'oL` uaiv ~ivii- uniform covenants w~th limited ~•ariations by jurisdiction to constitute a uniform security instrument rn~ erin~ real property. This Mortgege shall be Qoverned by the law of the jurisdiction in which the Property iR located_ In the event that any pro~hRion or clauae of thie Mortgage or the Note conflicts with applicable law, such conflict shall not a~ect other provisions of this Mortgage or the Note which can be given effect K~thout the conflicting pm~zsion, and to~this end the provisione nf the Mortgage and the Note arn declared to be aeverable. 16. Barrower'e Copy. Horrower ahall be furniahed a conformed copy of the Note and of thia Mortgage a1 the time of execution or after recordation hereof. 17.11ranefer ot the Property; Aaeumption. If all or any part of the Property or an intereat therein is aold or tranefrrred by Borrower w~thout Lender's prior written conaent, excluding (a) the creation ota lien or encumbrance subordinate W thia Mortgage, lb) the crnation of a purchase mone> security inteteat for household appliances, lc) a transfer by de~~iee, d.~scent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or leas not containing an option to purchaee, Lender may, at Lender's option, declare all the sums sfcured by this Mortgage to be immediately due and payable_ Lender ahall have waived such option to accelerate if, prior to the sale or tranafer, Lender and the person to whom the Property is to be aold or tranaferred reach agreement in writing that the credit of auch person is satisfactory to Lender and that the interest payai-le on the suma secured by ihia Mortgage shall be at such rate as Ixnder shall request. if Lender has waived the option to accelerate provided in this paragraph 17, and if f3orrower's suceeasor in interest has executed a w-ritten assumption agreement accepted in writinR bp Ixnder, i.ender ahall release Borrower from aU obligationa under this Mortgage and the ti ote. If I,ender exercises such option to accelerate, I.ender shall maii Bormwer notice of acceleration in accordance with paragraph 14 hereof. tiach notice shall provide a period of not less than :30 days from the date the notice is ~r.ailed within which Borrower may pa~ the aums declared due. If Borrower fails to pay such sums prior to the expiration of such period. I.ender may, without further notice or demand on tiorrower, ~nvoke an~• remedies permitted by paraRraoh 1R 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 HOUSING FINANCE AUTHORITY OF ST. 4"LUCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Authority of St. ~` t 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 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 Borrower, any default in which by Borrower shall automatically accelerate all remaining unpaid installments remaining due under the rr;,,,, ; ss~r;; r~t~ s~^;:r~ ;;~r~b;; . R capy of the Lo~r Rrre~ent i s an f i 1 e w; th ~er,der, 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 term not to exceed the term of this agreement. The interest rate on the mortgage loan ma_y 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 17-A shall prevail. , c,..~;K 349 ~~~E 766 ~ _ ~ , ~}_ - ~ -, ~.Y ~ _