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Home My WebLink About19258. Inapection. l.ender may make or cau.e to be made reasonable entriee upon and i~epectione of the property, provided that Lender ahall give Horrower notice prior to any euch inspection specifyinq reasonable cauee therefor nlated to l.ender's interest in the Property. 9. Condemnetio~. The proceede of any award or claim for damagee, direct or rnnaequential, i~ connection with any oondemnation or othe~ taking of the property, or part thereof, or tor conveyance in lieu of condemnation, are hereby anaigned a~d shall be paid b I.e~der. In the event of a total taking ot the Property, the proceede ehall be applied to the aums secured by this Mortga~e, with the e:ceaa, i[ eny, paid W Borrower. In the event of e partial taking of the Pooperty, unlesa Borrower and l.ender otherwise agree in writing, there shall be applied to the euma eecure~l by thie Mortgage euch proportion of the p~«.~eeds as ia equal to that pmportion which the amount of the sums eecured by this Mortgage immediately prior to the date a[ taking bears to the fair market value of the Pmperty immediately prior to the date of takiog, with the balance of the proceede paid to I3orrower. If the Property ia abandoned by Eiorruwer, or if, after notice by l.ender to Borrower that the rnndemno~ offere to make an award or settle a claim for damagee, Eiorrowe~ faile to reepond to Lender within 30 day8 after the date euch notice ia mailed, l.ender ie authorized to collect and apply the proceeda, at I.ender's option, either to reatoration or repair of the property or to the aume eecured by this Mortgage. Unleee Lender and Borrower otherwiee agree in writing, any such application of pra.~eede to principai ehall not e=tend or poetpone the due date of the monthly inatallmenta referred to in paragraphs 1 and 2 hereof or chanqe the amount of euch inatallmente. 10. Borrower Not Releaxed. F.xteneion ot the time for pavmant or modificalion of amortization of the eums eecured by thie Mortgege Kranted by l.ender to any auccessor in intereat of Rorrower ahall not operate to release, in any manner, the liability ot the original f3orrowe~ und liormwer's successure in intereat. I.ender shall not be required to commence proce~.dinRe agninst auch succexsor o: refuae to excend time for payment or otherwise modi[y amortization of the suma aecured by this MortgaKe hy reaax,n of any demand made by theoriginal Borrower :~nd F3orrower's succes~r~ in interest. ! 1. Forbearance by Lender Not e Waiver. Any forbearance by l.ender in exercising any right or remedy hereunder, or otherwiee affcided by applicable law, shall not be a waiver of or preclude the exercise of any auch right or remedy. The pracurement of insurance or the payment oi taxea or other liena or chargea by I.ender ahall not be a waiver ot I.ender'e right to accelerate the maturity of the indebtednesa aecured by this Mortgage_ 12_ Remediea Cumulative. All remedies provided in -hie Mortgage are distinct and cumulative to any other right or remedy under this Mort~age or a[[orded by law or equity, and may be exerciae~i concurrently, i~dependently or aucceaeivefy. 1:3. Succeesora and Aseigne E3ound; Joint and Several I.iability; Captione. The covenanta and s~greementa herein contained ehall bind, and the righta hemunder ahali inure to, the reapective aucceasora and asaigna oC I.ender and Rorrower, aubject to the provieione of paragraph 17 hereof. All covenanta and agreementa of F3orrower shall be joint and several_ The captiona and headinKs otthe paragraphe of thia Mortgage are for covenience only and are not to be uaed to interpret or define the provieione hereof. 14. Notice. C xcept for any notirn required under ~pplicable law to be Qiven in another manner, (al any notice to fiorrower provided for in this MortknKe shall be given by mailing such notice by certified mail addreased to Borrower at lhe Property Addresa or at euch other addresa as Borrower may desiKnate by notice to l.ender as provided hemin, and Ib) any notice to I.ender ahall be given by certified mail, return receipt reyueated, to I.ender's address atated herein or to such other addresa as l.ender may desiKnate by notice to I;orrower ax provided herein. Any notice provided fut in this Mortgage shaU be deemed to have been given to I3orrower or I.ender when given in the manner deaignated herein. I5. [Inift~rm 1Nortgage; Governing Law; Severability. This form otmortgagecombinea uniform n-venantafornational uaeand non- uniform cuvenanta with limited variations by juriadiction to conatitute n uniform aecurity inatrument rnvering real property. This Mortgage ' shall be governed by the lavv of the jurisdictiun in which the F'mperty is located. In the event that any proviRion or clause of this Mortqage or the Rote conflicts with applicable law, such contlict shall not affect other pro~iaions of this Murtgaqe or the Note which can be given effect without the contlicting provision, and to this end the provisiona of the Mnrtqage and lhe Note arn declared to be severable. 16. Borrower's Copy. Borrower ahall be furniahed a conformed copy of the Note and of thia Mortgage at the time of execution or after recordation hereof. 17. Tranefer of the Property; Asaumption. lf aU or any part of the Property or an intereat therein ie sold or tranaferred by Borrower without i.ender'a prior written consent, eaciuding (a1 the creation of a lien or encumbrance subordinate to this Mortgage, (b1 the creation of a pumhase money security interest for household applianrns, lc) a tranafer by deviae, d~acent or by operation of law upon the death of a joint tenant or (d) the grant of any lPasehold interest of three years or lesa not cuntaining an option to purchase, I.ender may, at [.ender's option. declare all the sums securea by this MortgaQe to be immediately due and payable. I.ender ehall have waived such option to accelerate if, prior I 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 ofauch ; person is satiafactory to Ixnde: and that the interext payable on the sums serured by this AlortgaQe shall be at such rate as Ixnder ahall 'i requrst. If Ixnder has wai~ed the option to accelerate providrd in lhis paragraph 17, and if Borrower's successor in intereat has executed a i w•ritten :issumption agrerment accepted in K ritinK by l.rnder, lxnder shall release Borrower from all obtigations under lhis Mortgage and the ~i ote. ~ If [.endcr exercises such optiun to accelerate; l.ender shall mail Bormwer notice o[acceleration in accordance with paraQraph 14 hereof Such nutice shall provide a period of n~-t less th:in:i(-days from the date the ~otice is rr.ai{er1 w•ithin which Rorrowermay pay the sumadeclared due. If Borrower fails to pay such sums prior to the expiratiun of suc•h periud, I.ender may, without further notice or demand on I3orrower, invoke an~ remedies permitted by paraKra~h 1R hermf. i ,~ 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 AUTNORITY OF ST. '~~~, LUCIE COUNTY, Florida, and Lender, the interest af 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 fully paid or provision made for such payment pursu- ~ ant to the Indenture, whichever shall be earlier, certain loan guidelines are imposed upon ~ i.ender 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, ~ 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. ~ Amony 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 t~ 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 as~umed, lender may not charge or impose an assumption fee in excess af 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. i Y ! L ~.~.... v. . . - ~~''1(•J~V i'~r~f1J~~ ~