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Home My WebLink About11248. Iaspectio~. I.ender mey make or cause to be made reasonable entries upon and inspectiona of the prope~ty, pwvided thet Lender shall give Borrowe~ notice prior to any such inspection specifying reasonable cauae therefor related to l.endei s interese in the Property. 9. Coadeiaeatioa.'Il~e proceeds of any award or claim fos damagea, direM or consequential, in con~ection with any oondemnetion or othet taking o[ the property, or patt thereof, or [ur ~y,nvey,u~..~ in lieu of rnnde~nnatiun, are herrLy axdigned aud dhall ba paid tu Leader. In the event of a tota! taking of the Property, the proceede shall be applied to the sums secured by this Mortgage, with the excess, if any, paid to Borrower. ln the event of a partiel taking of the Property, unlees Botrower and Lender otherwiee agree in writing, there shall be applied to the sums sec~ued by this Mortgage auch proportion o! the proceeds as is equal to that proportion which the amount o[ the e~une secured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date of taking, with the balanc~ of the proceede paid to Botrower. If the Property is ebandoned by Borrower, or if, after notice by I~ender to Eiorrower that the condemnor of~ers to make an award or eettle a claim for damages, Borrower faile to reepond to I.ender within 30 days after the date auch notice is mailed, Lender ie authorized to collect and appty the proceeds, at l.ender a option, either to reetoration or repair of the prope~ty or to the suma eecured by this Mortgage_ Unleea Lender and Bormwer otherwiae agree in writing, any such application of proceede to principal ehall not extend or postpone the due date of the monthly instalimenta referred to in paragraphe 1 and 2 hereof or chenge the amount of euch inetallmente. 1'J. Horrov-•er It~ut Released. Extension of the time for paym ~nt or modification of amoriization otthe sums secured by this Mortgage gran~.ed by l.ender to any aucceaeor in interest of Borrower ahall not operate to release, in any manner, the liability of the original I3orrower and I3orrower's auccesaors in intereat. [.ender ahull not be reauired to commence proceedinga against auch eucceasor or refuse b extend time fur payment nr othcrwise m.~di[y amortization of the yuma aecured by this Mortgage by reaeon of any demand made by the original Borrower and R~-rn-wer'b successutx in interest. 11. Forbearence by I.ender Not a Waiver. Any [orbearance by I.ender in exercising any right or remedy hereunder, or otherwiee afforded by applicable law, ahaU not be a waiver of or preclude the exerciee ot any such right or remedy. The prc~curement of insurance or the payment of taxee or other liens or chargee by I.ender ahall not be a waiver of Lender a right to accelerate the maturity of the indebtednesa aecured by this Mortgage. l2 Remediee Cumulative. All remediea provided in thie Mortgage are distinct and cumulative to any other right or remedy under thie Mort~•age or afforded by law or equity, and may be e:enise~i concurrendy, independently or succeeaively. 13_ Succeeeore and Aeaigns Bound; Joint and Several Liability; Captidne. The covenants and aQreements hemin rnntained ahall bind, and the righte hereunder shall inure to, the reapective auccreeors and asaigna ot l.ender and Borrower, subject to the provisiona of paragraph 17 hereoL All covenants and agreements of Borrower ahall be joint and e~everal. The captiona and headinga of the paragraphs of this Mortgage are tor covenience only and are not to be uscd to interpret or define the provieione hereof. 14. Notice. F:xcept for any notice required under applicable law to be Kiven in another manner, ln) any notim to t3orrower provided for in this Mortgage ahall t-e given by mailing such notice by certified mail addceased to Rorrower at the Properiy Addresa or at such other addreas ae Borrower may designate by notice to [.ender as provided herein, and lb) any nolice tn I.ender ahall be given by certified mail, return ~eceipt requested, to t.ender'a address atated hemin or to auch other addrese as Lender may designate by notice to E3otrower ax provided herein. Any notice provided !or in thia Mortgage ahall be deemed to huve bee~ given to Borrower or I.ender when given in the manner deaignated herein. 15. llniform Mortgage; Governing Law; Severebility. 7'hia form otmortgaqe combines uniform covenant8 for national use and non- uniform covenants with limited variationa by jurisdiction to constitute a uniform ser.urity instrun~ent c~vering real property. This Mortgage shall be govrmed by the law of the jurisdiction in which the 1'roperty ia located_ In the event that any proviPion or clauae of this 111ortgage or the Note conflicts with applicable law, such c~nflict shall not affect other pmviaions of this A1urtQaqe or the Note which can be Riven effect withuut the contlicling pm~~sion, and to this end the proviaiona of the Mortgage and the Note are declared tn be aeverable. 16. Korrower's t'opy. liorrower ahali be tumished a conformed rnpy o! the Note and of this Mortgage at the time of execution or aRer recordation hereof. 17. Tranater of the Property; Aseumption. If all or any paR of the Proprrty or an interest therein is sold or transferred by Rorrower without Ixnder's prior vvritten consent, excluding (a) the creation of a lien or encnmbrance suberdinate to this Mortgaqe, (b) the creation of a purchase money security interest for household appliances. (c- a tranafer by devise, deecent or by operation of law upon the death of a joint tenant or !d) lhe grant of any IPasehotd intereat ot three years or less not containing an option to purchase, I.ender may, at l.ender s option, declare af) the suma securea by this Mortgage to be immediately due and payable_ Lender ahall have waived such option to accelerate if, prior tu the sale or transfer, I.ender and the person to whom the Yroperty is to be sold or tranaterred reach agreement in writing that the credit of auch person is satisfactory to l.ender and that the interest payable ~~n the sums secured by this MortgaKe shall be at such rate as l.ender sha11 reyuest. If I.ender has w•aiveci the option to accelerate provided in this para~raph 17, and if ~rrower's saccessor in intereat has executed a written a~umption agreement accepted in writing by l.ender, I.ender ahall releasr Korrower from all obliRationa under thia Mortgage and the tiote. If [.ender exercisea such option to accelerate, l.ender shall mail8o•rower notice of acceleration in accordance with paragraph 14 hereof Such notice sh:~ll pro~ ide a periixl of not Icws th.~n :~-day s from thedute the notice is mniled within which Borrower mav pav theaums declared due. If Borrower fails to pay such sums priur to the expiration of such prriud, (.ender may, without further nutice or demand on lionower, invoke any remedien permitted by paraKraoh IK here~~f. Y~ 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been _ procured by lender pursuant to Loan Agregnent between HOUSING FINANCE AUTHORITY OF ST. , LUCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Authority vf St. ~`- Lucie County, Florida, in said Agreerr~ent 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 promissory note secur'ed hereby. A capy 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. ~rnong 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 persan or family which would have been eligible for a mortgage lo~n 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 17-A shall prevail. ~ , ~.-:`~349 PacE1125 ~ ~ ~ ~ - ._ ~. ~~~~:~:~ _ . . . ~ _ . _ _ , r . ~k~