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Home My WebLink About15258. Ia~pectloit. I.ender may make or cauae to be made ~easonable entries upon and inspections of the property, pmvided that Leader shall Kive Borrower notice prior W any such inspection specifying ceaeonable cause the~efor releted to Lendei e interest in the Property. 9. Condemnation. The procee~ls of any award or claim for damages, direct or con~equential. in connection with any oondemnstion or other eakinn of the propert~l, or part thenof, or [or conveyance in lieu of condemnation. are hereby assigned and shall be paid to I.ender. I~ the event of e total taking of the Property, the pra,~eede shall be applied to the sums secured by this Mortgage, with the ~cew, if a~y, paid to Borrower. In the eve~t of a partial taking of the Property, unless Borrower and l.ender otherwise agrce in writing, then shall be applied to the aums secured by this Mortgage such proportion of tl~e procev.ds as iu equal to that pmportion which the amount of the sums aecured by thie Mortgage immediately prior to the date of taking beare to the fair market value of the Property immediately prior to thedate of taking. with the balancr of the proceeds paid to Rorrowe~. lf the Property ie abandoned by Borrowe~, or if, after notice by I.ender to Borrower that the rnndemnor otlers to make an eward or setde e claim for damages, Borrower faile to reapond ta l.ender within 30 deye after the date auch notice is mailed, l.ender ie authoriud W collect and apply the proceeda, at I.ender's option, either to reetoration or repair of the property or W the eume secured by thie Mortgage. Unleea l.ender and Borrower otherwise agree in writing, any auch application of proceede to principal shall not e:tend or postpone the due date of the monthly instaUments referred to in patagraphe 1 and 2 he~eof or change the amount of euch inatallmente. ll~. Borrower Not Released. Extenaion of the time for paym~nt or modification of amortization of the eums secured by thie MortgaRe Kranted hy 1.ender tu any eucceasor in interest of E3orrower ehall not operate to release, in any manner, the liability of the original Borrower and E3orrower's succesaors in interest. l.ender shall not be required to mmmence proceedings againet auch euccesaor or refuee to extend time fur payment or otherwise modifj amortizution of thr aums aecured by this Mortgage by reuson of any demand made by ihe oriRinal Borrower and I3orrower's sec:essor~ in intereat. 11. ForLearance b~• I.ender Not a Waiver. Any forbearance by l.ender in e:ercieing any right or remr~dy hereunder, or otherwiee f~fforded by epplicable law, ahall not be a waiver of or preclude the exercise of any euch right or remedy. The pmcurement of ineurance or the payment of taxr.s or other liena or chargea by I.ender ahall not be a waiver of Lender'e right to accelerate the maturity of the indebtedneee aecured by this Mortgage. ~ 12. ltemediee Cumuletive. All remediee provided in thie Mortgaqe are dietinct and cumulative w any other right or rnmedy under this ~lortrage or afforded by law or equity, and may be e:ercise~i concurrendy, independently or succeseively. 13. Successors and Assigns Bound; Joint and Several Liability; Captione. The covenants and agreemente herein contained ahall bind, and the righte hereunder ehall inure to, the respective succeseore and aeaigne of [.ender and Borrower, subject to the provieions of paragraph 17 hereof All covenants and agreementa of Borrower shall be joint and eeveral. The captions and headinqs of the paragraphe of this Mortgage are for covenience only and are not to be used to interpret or define the proviaions hereof. 14. Notice. F.acept for any notice required under applicable law to be given in another manner, tal any notice to Borrower provided for in thia MortgaRe shall be given by mailing such notice by certified mail addresaed to I3orrower at the Property Addresa or ut euch other addreae se f;orrower may designate by notice to Lender as provided herein, and (b) any notice to I.ender ahali be gi~ en by certified mail, return receipt requeated, to t.ender'a addresa stated hemin or to such other addrese ae Len~er may designate by notice to Borrower ax provided herein. Any notice pro~~ded for in thia Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner deaignated herein. 15. Uniform Mortgage; Governing Lew; Severability. 7T-is form of morlgaRe combines uniform covenante for national uae and non- uniform covenanta with limited variations by juriadiction to conetitute a uniform security instrument cuvering real property. Thia Mortgage ahall be governed by the law of the jurisdiction in which the Property is located. In the event that any proviRion or clause of this Mortgage or the Note contlicts with applicable law, such conflict shall not affect other proviaione ot this Murtgaqe or the Note v-hich can be given effect w•ithout the conflicting proviaion, and to this end the pmvisione ot the Mortgage nnd the Note are declared to be severable. - 16. Borrower'e Copy. Borrower ahall be fumiahed a conformed copy of the Note and af thie Mortgage at the time of execution or afte~ recordation hereot. 17. '[tiranater ot the Property; Aesumption. If all or any part of the Property or an intereat therein is aold or traneferred by Borrower without Lender a prior written consent, excluding (a) the rreation of a lien or encumbrance aubordinate to this Mortgage, (b) the creation of a purchase money security interest for houaehold appliancea, (c) a tranafer by deviae, descent or by operation uf law upon the death of a joint tenant or (d) the ~ant of any leasehold intereet of three years or leas not containing an option to purchaee, Lender may, at Lender'a option, declare all the sums secured by this Mortgage to be immediately due and payable. [.ender ahall have waived auch option to accelerate if, prior to the sale or tranafer, Lender and the person to whom the Property ia to be sold ot tranaferred reach agreement in writing that the credit of auch person is satisfactory to Lender and that the intereat payable on the sums aecured by this Mortgage shall be at auch rate as Lender ahaU rrquest. If [xnder has waived the option to accelerate provided in this paragraph 17, aed if E3orrower's succeasor in intereet hae executed a w~ritten asaumption agreement accepted in writing by l.ender, I.enderahail release Borrov-er from all obligations under this Mortgage and the ~ ote. If Ixnder exercises s~ch option to accelerate, I.ender shall mail Borrower noticv of acceleration in accordance with paragraph 14 hercof. 5uch notice ahall provide a period of not less than 30 days from the date the notice is mailed within which Borrowermay pay the sumes declared due. If Borrower fails to pay such sums prior to the expiration of such peri~~d, I.ender may, without further notice or demand on I3orrower, ~nvoke any remedies permitted by paragra~h IR hereof. l7-A. The proceeds of the loan evidenced by the promissory note secured hereby have been procured by Lender pursuant to Loan Agreement between HOUSING FIPiANCE AUTNORITY OF ST. LUCIE 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 er.pires 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 secured hereby. A copy of the Loan Agreement is on file with Lender, tiousing Finance Authority of St. Lueie 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 te 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. . ~:~~K 349 ~ ~~~ 15z5 , - ~.~~