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8. lnspeclio~. l.ender may mnke or cauee to be made reawnable entriea upon and inepectiona of the properiy, provided that l.endershal)
give Hormwer notice prior to any auch inepection specifying reasonable cauee therefor related to l.ender'a interest in the Property.
9. Condemnatlon.'It~e proceeds of any eward or claim for damaRes. direct or conaPquential, in connection with any co~demnetio~ or
othe~ taking of the property, or part thereof, or for conveyance in lieu of condemnation, are hereby aesigned and ehall be paid to I.ender.
In the event of a Wtal taking of Ihe Property, the preceeda ehall be applied to the aume secured by thie Mo~age. with the e:cess, itany,
pnid to Borrower. In the event of a partiat taking of the E'roperty, unleaa i3orrower and I.ender otherwiee agree i~ writing, there ehall be
applied to the sume secured by thie Mortgage such proportion of the proceede ae ie equal to that proportion which the amount of the aume
secured by thie MortQage immediately prior to the dat~ of taking beare to the fair mar~et valueotthe Property immedietely prior to thedate of
taking, with the balancr of the procce.~d paid to t3orrower.
Itthe Property is abandoned by ti.~rr~~wer, or if, after notice by i.ender to E3arrower that the rnndemnoroffers to make an award or eettle a
claim for damageo, Borrower faile to respond to I.ender within 30 days after the date auch notice ie mailed, l.ende~ ie authorized to collect and
appiy the proceede, et l.ender's option, either to reatoration or repair of the property or to the eame secure.i by thie Mortgage.
ltnleee Lender and E3arrower otherwiee ugree in writing, anyauch application of proc~s to principal ehall not extend or postpone thedue
date of the monthly inaialime~ta rnferred to in paraRraphe 1 und 2 hereof or change the amount of euch inett~llmente.
l0. Horrower No*. Releesed. I:xtenaion of the time for paym ~nt or modification of amurtization otthe sums aecured by this Mortgage
grunted by I.ender to an~ succe~ex~r in intrreat of Eiormwer shall not operate to release, in nny manner, the liability of the original Borrower
and Borrower's succeaxora in interest. I.ender aha~ll not be required to rnmmence proceedings againat auch aucceaesur or refuae to extend time
Cor paiyment u- o!h: rM•i~e miKiify amortizutiun uf thr sums seivn~ci by this MortgaKe by reax~,n uf any demand made hy theoriginal Borrower
:~nd li~~. mwer s succc~.~rs in intert~;t.
11. Turbearance by Lender Not a Waiver. Any forbearance by I.ender in exercising any riRht or remedy hereunder, or otherwiae
afforded by spplicr.ble law, shall not be n M aiver of or preclude the exercii+e of nny auch right or remedy. The procurement of inaurance or the
payment of luxea or other liens or charges by l.ender shall not be a waiver of l.ender's right to accelerate the maturity of the indebtedneas
aecured by this Mortgege. .
1'L. Itemediee Cumulative. All rnmedie$ provided in thie Mort~age are distinct and cumulative to any other riqht or remedy under thia
Mort~•age or afforded by law or equity, and may be exerciaed concurrently, independently or aucceaeively.
I:i. Succeseora end Aeaigna E3ound; Joint and Several l.iability; Captione. The covenants and aQrerments herein contxined ehall
bind, and the righta herrunder ahall inure to, the respecti~e succexeora and asaigna of l.ender nnd Rnrrower, aubject to the proviaions o!
paragraph 17 hereoL All covenants and agreementx of F3orrower ah~ll be joint and several. The captions and headinKa of the paragraphe of
this Mortgage xre for cuvenience only and are not to be used to interpret or define the prov:aiona hereof.
1 a. Notice. M:xcept for .iny notice required under applic~hie law to be Kiven in another m~nner, ln) any notice to Ronowerprovided forin
this Murt~aRe shall t-e given by mailinK such notice by certifiecf mail addresaecl to l;orrower at the Yroperty Addresa ar at auch other addreea as
Rorrovrer may desiRnate by notice to l.ender as provided herein, and Ib) any notice to I.ender shall be given by certified mail, return receipt
requested, to I.ender's address stated herein or to such other addresa as Ixnder may drsiKnate by notim to Korrower as provided herein. Any
nutice providrd for in th~s Atortgage shaU be deemed to have been given to Rorrower or I.ender when given in the manner deaiqnated herein.
1 i. lTniform Mortgage; Governing Lavr; Severabi lity. This furm of mortgaqe rnmbines uniform covenanta for national use and non-
unitorm mven~nts with limited variations by jurisdiction to nmatitute a uniform security instrun~rnt cr,vering real property_ This Mortgage
shall be Kuvrmed b~ the law of the jurisdiction in which the IM,perty is Irxatrd. In the e~•ent that any provision or claut-e of this Mortgage or
the Note conAicGs w•ith applicable IaM, such conllict shall not affect other pmvisions of this ~1ortQage or the Note which can be given effect
withuut the cron8icting pn~vision, and to this end the pmvisions of the Mortgage and the Note are declared to be severable.
I fi. Borrower's Copy. Knrn-wer sha!! be furnished a conformecl copy of the Note and of this MortgaRe at the time of execution or after
rerordation hereof.
17. Tranafer of the !'roperty; Assumption. If all or any part of the f'roperty or an interest therein is sold or trans[erred by E3orrower
w~thout I,ender's prior w~ntten consent, excludinK ia) the creation of a lien or encumbrance sut-ordinate to thia Mortgage, lb1 the creation of a
purchaxe muney seturity interest for household applian~es, lc- a tranater by deviae, d:scent or by operation of law upon the death of a joint
tenant or (d1 the Rrant of any le:~sehold interest of three years or lebx not containing an option to purchasr. [.ender may, at I~ender'a option,
declare all the sums securea by this Mnrt~age tn be immediately due and payable. I.ender ahall have waived auch option to accelerate if, prior
to the sale or transfer, [~ender and the person to M hom the Property is to be sold or transferred reach agreement in v~~riting that thecredit of auch
person is satisfactory to I.ender :~nd that the interest payable un thr suma secured by this MorlKaQe shall be at such rate :u; I.ender shall
rryue,t_ If 1.~•nder h:is w•aiv~~l the optiun tu accvlt•rate providc~cl in this paraKraph 17, and if &~rrnwer's successor in interc~t has executed a
.~•rittrn assumption :~KrFement accept~Yl in w•ntinK by ! w•nder, lxndershall relea~e fiorrower from all obliKations under this MortKageand the
\ote.
If I.ender exercises such optiun to accelrrat~. I.~~nder shall mail Rorrov-er noticeof acreleration in accordanm with paragraph 14 hereof.
-~ ~uch nutice shaill provide a peri«I of n~~t less th.in :i!~ ~1a~~s frnm thedate thr notice iti mailed within which Bormwer ma~~ pa~ thesums drelared
due. If fiorruwer fails to pay such aums prior t~~ the expirat~un uf suc•h periud, l.e•nder may, w•ithout further notim or demand ~~n f3orrower,
in~oke:~ny remedies ~~rmittc~l b~• par:~k~raoh 1`t hE~nr~f.
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.
LUCIE COUiVTY, Florida, and Lender, the interest of the Housing Finance Authority,of St.
`~1 Lucie County, Florida, in said Agreement having been assigned to FLORIDA NATIONAL BANK OF
~~~ MIAMI, Florida, as Trustee under a trust .indenturP from said Housing Finance Authority.of
~~~`~t. Lucie County, Florida. Under th~ 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-
~~nt to tf~e 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 remai~ing unpaid installments remaining due under the
, promissor-y 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 busirtess day.
Among other things, the loan guidelines in said agreement provide as follows:
"Mortgage loans, with the exception of FNA-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.thes~ 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 17-A shall prevail.
~~~'~K 349 E~~~E Z084