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Home My WebLink About2101 8. lnspection. l.ender may make or ceuee to be rnade reasonable entries upon and inspections of the property, provided that l.ender shall give Borrower notice prior to any auch inepection epecifying ~eaaonable cauae therefor related w l.ender's internst in the Property. 9. Coademnatlon. The proceeds of any award or claim for damages, direct or coneequential, in connection with any oondemnation or other taking of the property, or part thereof, or to~ conveyance in lieu of condamnation, are hereby assigned and shaU be paid b Lender. 1~ the even/ oI a total taking of the Property, the proceede shal{ be applied to the eums aecured by thie Mortgege, with the excess, itany, pxid to Borrower. In the eve~t of a partial taking ot the Property, unleae Rorrower and l.e~der otherwise agree in writing, there shall be npplied to the eums eecured by thie Mortgage auch proportion ot the proceede as is equsl W that proportion which the amount of the sums secured by thie Mortgage immediately prior to the date o[ taking bears to the fair market value of the Properfy imrE:~diately prior to the date of taking, with the balance of the proeeeda paid to Borrower. If the Property ie abandoned by 13orrowe~, or if, aR,er notice by Lender to Borrower that the condemnor oPfern to make an award or eetde e claim for damagee, Borrower faile to respond to L.ender withi~ 30 daye atter the date euch notice is mailed, l.ender ie authorized to collect and apply the proceeda, at I.ender'a option, either to restoration or repair of the property or to the suma eecured by this Mortgage. Unleae Lender and Borrower otherwiee agree in writing, any euch application of procecds to principal shall not extend or poetpone the due date of the monthly installments referred to in paragrapha 1 and 2 hereof or change the amonnt of euch installments. lQ. Borrnwer Not Released. E:teneiun of the time for paym ~nt or modification of amortization of the auma eecured by this Mortgage KraniPd by 1~ender to any aucceasor in internst of f3orrower ahall not operate to releaae, in any manner, the liability of the original Borrower :+nd Borrower's auccesaors in interesl. I.ender.shall not be required to commence proceedings aQainat euch succesaoror refuae to extend time G,r payment or othervvise modifv amortizatinn of thr aums secured by this Mortgage by reason of any demand made by theoriginal Borrower and B~rmwEi s sacce~ors in interest. i 1. Forbearance by Lender Not a Waiver. Any iorbearance by l.ender in exercieing any right oa remedy hereunder, or otherwiee afforded by applicable law, shall not be a waiver of or prerlude the exerciae of any auch right or remedy. The prc~curement of ineurance or the payment of tnxe~ or other liene or chargee by I.ender ahall not be a wai~ er of l.ender'a right to accelerate the maturity of the indebtedneaa aecured by this 111ortgage. 12 Remediea Cumulative. All remediea 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 may be eaerciee~l ooneurrendy, independently or aucceasively. 13. Succeaeore and Aaeigne Bound; Joint and Severel Liability; Captione. The covenanta and agreements herein contained ahall bind, and the righta hereunder ahali inure to, the reapective auccesaora and aasigna of Lender and E3orrower, suhject to the provisions of paragraph 17 hereof. All covenants and agr¢ementa of Borrower ahaU be joint and eeveral. The captions and headings of the paragraphe of this Mortga~e are ~or covenience only and are not to be used to interpret or define the provieione hereof. 14_ Niotice. Except for any nolice required under applicable law to be given in another manner, (a- any notice to E3orrowe~ provided for in this Mort{~age ahall begiven by mailing such notice by certified mail addreaeed to E3orrower at the Property Addrexeor at such otheraddrese ae 13orrower may deeignate by notice to [.ender as provided herein, and (b) any notice to I.ender shall be given by ceRified mail, return receipt rrquested, to l.ender's addreass atated herein or to such other addreas ae Lender may deaignate by notjce to E3orrower ax provided herein. Any notice provided for in this MortgaQe shall be deemed to have been given to E3orrower or I.ender when given in the manner deaignated herein. 15. Unitorm Mortgage; Coverning Law; Severability. This torm of mortgage combines uniform rnvenanta for national uae and non- uniform covenants with limited variationa by juriadictiun to conatitute a uniform security instrument rnvering real property. This Mortgage shall be govemed by the law of the jurisdiction in which the.Property is located. In the event that any proviAion or clause of thia 1~Iortgage or the Note conflicts with applicable law, such conllict shall not affect other provisions of this Mortqage or the Note which can begiven effect wi~hout the conflicting proviaion, and to this end the pr~~visiona of the Mortgage and the Ivote are declared to be severable. 16. Borrower's Copy. Rorrower shall be furniahed a conformed rnpy of the Note and of this Mortgage at the time of execution or after recordation hereof_ 17. 'l~ansfer of the Property: Aeaumption. If all or any part of the Property or an intereat therein ia sold or tranaferred by Borrower w~thout l.ender's prior w-ritten consent, excluding la) the crnation of a lien or encumbrance aubordinate to this Mortgaqe, lb) the creation of a purchase money security intereal for household appliances, fc) a tranefer by devise, d.ecent or by operation of !aw upon the death of a joint tenant or (d) the qrant of any leasehold interest of three years or lesa not rnntaining an option to purchase, i.ender may, at Lender s option, declare all the aums secureu by this Mortgage to be immediately due and payable. Lender ehal) have waived euch option to accelerate if, prior to the sale or transfer, Lender and the person to whom the Property is to be sold or tranaferred reach agreement in writing that the credit of such ~rson is satis[actory to l.ender and that the interest payable on the suma secured by this Mortgage shal! be at such rate as I.ender ahall reyuest. If I.ender has v-•aived the option to accelerate pro~•ided in this paragraph 17, and if E3orrower e succesaor in intereat has executed a w-ritten assumption agreement accepted in writinR by l.ender, l.rnder shall release fiorrower from al l obligations under thia Mortqage und the ti ote. If I.ender exercises auch option to accelerate, l.ender shall mail Borrower notice of acceleration in accordance with paragraph l4 hereof tiuch notice shall provide a period~[not less than :i(-days from thedate thenotice is mailed within which Bormwer may pay theaumsdeclared due. If Borrower fails to pay such sums prior to the expiration of such periud, [.ender may, without further notice or demand on I3orrower, ~nvoke any remedies permitted by paraQraoh iH hermf. 17-A. The proceecis of the loan evidenced by the promissory note secured hereby have been j procured by L~nder pursuant to Loan Agreement between HOUSING FINRNCE AUTNORITY OF ST. i ~ 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 ~4IAMI, 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 secured hereby. A copy of the Loan Agreement is on file with Lender, Nousing 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. Among other things, the loan ~uidelines in said agreement provide as follows: "Mortgage loans, with the exception of FNA-insured or~YA-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." ?f 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 snall prevail. :~:;`;x:3~9 ~~~~;E~~.00