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Home My WebLink About2089 8. Inapection. Gender may make o~ cauee to be made reawnable e~triee upon and i~spection~ of the property, provided that Lender shall give Borrower notioe prior to aay euch inspection specifying reaeo~able cause therefor related to Lender s intereet in the Property. 9. Coademnstion.'I~e proceeds of any award or claim tor damages, direct or consequeatiel, in connection with any aondemnation or other taking o! the property. or part thereof, or for conveyance in lieu of rn~demnation, are hereby assigned ertd shall be paid to Le~der. In the event of a total taking ot the Property, the proceede shall be applied to the sume secured by thie Mortga~e, with the e:ceea, if any, paid to BoROwer. In the event of a partial taking of the Property, unlese Borrowe~ end Lender otherwise agree in writing, lhere eha~i be applied to the eums secured by this Mortgage such proportion of the proceeds as is equal b that pmportion which the amount of the sume eecured by this Mortgage immediately prior to the date of taking bears to the fair market value of the Property immediately prior to the date o[ taking, with the balenca of the proceede paid to Borrower. If the Property is abandoned by Borrower, or if, after notice by l.ender to Borrower that the condemnor of~era to make an award or settle e claim [or damagea, Borrower fails w reepond to I.ender withi~ 3C daye after the date auch notice ie mailed, l.ender is suthorised to collect and apply the proceede, at I.ender'a option, either to restoration or repair ot the property or to the sums aecured by this Mortgage. lJnleea I.ender and Borrower otherwiee agree in writing, any auch application of proceeds to principal ehall not e:tend or poatpone the due date of the monthly installments referred to in paragraphe 1 and 2 hereof or change the amount of such installmente. 10. Borrower Not Releeeed. Exteneion of the time for paym:nt or modification of amortization of the suma secured by thia Mortgage granted by l.ender to any euccessor in interest of E3orrower ahall not operate to release, in any manner, the liability of the original Borrower and E3orrowei s aucceae~-rs in intereet. [.ender shall not be required to commence proceedinge againet auch succesaor or refuae to extend time for paymeat ~r othen: ise modify amortization uf the xums secured by this Mortgage by resiaun of any demand made by the original Borrower and I3ort~ower~a succea4on in inlereat. i l. Forbearance by I.ender Not a Waiver. Any forbearance by l.ender in e:errieing any right or rnmedy hereunder, or otherwiee affarded bY app::cable law, shalt not be a waiver of or preclude the exerciae of any euch right or remedy. The pmcurement of insurance or the pxyment of taxee or other liene or chargea by l.ender ehall not be a waiver of I.ender a right to accelerate the maturity of the indebtednees secured by this Mortgage. 12. Remediea Cumulative. All remediee provided in thie Mortgage are dietinct and cumulative to any other right or remedy under thie Mort~-age or afforded by law or equity, and mey be exerciaerl rnncurrendy, independently or euccesaively. 13. Succeaeore and Aeeigne Bound; Joint and Several Liability; Captione. The covenante and a~eements herein contained ahall bind, and the righte hereunder ahall inure to, the reapective aucceaeors and aseigna of l.ender and E3orrower, subject to the proviaions of paragraph 17 hereof. All covenanta and agreementa of Borrower shall be joint and eeveral. The captions and headinge of the paragraphe of this Mor'..gage are for covenience only and are not to be ueed to interpret or define the provieiona hereof. l4. hotice. F.xcept for any notice required under applicable law to be ~Civen in another manner, (a1 any notice to E3orrower provided [or in this Mortgage shaU begiven by mailing auch notice by certified mail addreased to Borrower at the Rroperty Addresao~at such otheraddreae ae Fiorn,wer may designate by notice to [.ender as provided hemin, and (b) any notice to Lender ahall be given by certified mail, return receipt requeated, to l.ender's addresa atated herein or to auch other address as l.ender may deeignate by notice to Borrower ae provided herein. Any nutice provided for in this Mortgage shali be deemed to have been given to Borrower or [.ender when given in the manner deaignated herein. 15_ Uniform Mortgage; Governing Law; Severability.l'hie torm of mortgagecombinea uniform covenants for national uae and non- uniform covenanta with limited variationa by juriadiction to conatitute a uniform security instrument rnvering real property.'IT~is Mortgage shall be Koverned by the law of the jurisdiction in which the Property ia located. ln the event that any provieion or clause of this Mortgage or the Nate conflicts with applicable law, auch contlict ahali not af1'ect other proviaiona of this Mortgage or the Note which can be given etfect without the conflicting provision, and to this end the proviaiona of the Mortgage and the Note are declared to be aeverable. 16. Bflrrower'e Copy. Borrower ahall be fumiahed a conformed copy of the Note and of thia Mortgage at the time of execution or after recordation hereof. ' 7.1`tanefer of the Property; Aseumption. If all or any part of the Property or an interest therein is aold or traneferred by E3orrower w~thout Lender'a prior written conaent, excludinq (a) the creation of a fien or encumbrance aubordinate to this iVlortgage. (b) the creation of a purchase money aecurity intereat for houeehold appliances, ic) a tranafer by deviae, d~ecent or by operation of law upon the death of a joint tenant or ld ) the qrant of any leasehold intereat of three yeara or less not containinq an option to purchaee, i.ender may, at Lender a option, declare all the sums secured by this Mortgaqe to be immediately due and payable. L.ender ahall have waived auch option to accelerate if, prior to cne sale or tranafer, I.ender and the peraon to wh~m the Property ia to be aold or tranaferred reach agreement in writing that the credit of euch peraon ia satistactory to t.ender and that the interest payable on the sums secured by this MortKage shall be at such rate as I.ender ahall request. If I.ender has wai~ ed the option to accelernte provided in thiA paragraph 17, and if liurrow•er's successor in intereet hae executed a ~~ritten axsumption agrerment accepted in a~ritinK by I.ender, l.ender ahall release Korrower from all obliqations under this Mortgage and the \ ote. If t.ender exercises auch option to accelerate, i.ender shall mail fiormwer notice of acceleration in accordance with paragraph 19 hereof. >uch notice sh~Ei provide a period of not less than :30 days from the date the notice is rr.ailed v-ithin which Borrower may pav the sums declared due. If Borrower fails to pay auch sums prior to the expirat~on of such periud, I.ender may, without further notice or demand on fiorrower, -nvoke any remedies permittecl by paraQraoh 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. 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 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 autanatically 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 Authqrity of St. Lucie County,,Flor,ida, and Florida National Bank of Miami, ava.ilable for examination by any party during legal business hours of each business day. Amorig other things, the ioan 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 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. L.,~x, ''~ 349 P~~E 2088