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Home My WebLink About0172 8. lnspection. I.ende~ may make or cause to be made ~easonable ent~ie~ upon and inspectiort~ otthe property, provided that l.ender shall give 8orn~wer notice prior to any euch inepei.~tiun epecitying reaaonable cauee therefor related to l.endei s intereat in the Property. 9. Condemnetiun. The proceeda of a~y award or claian for damagee, direct or con~equentiel, in conne~tion with sny oondemnation or other taking of the property, o~ part thereof, or for conveyence in lieu of oondemnation, are hereby assigned and shall be paid to I.ende~. I~ the event of a total taking of the Property, the proceede ahall be applied to 1he sums eecured by thie Mortgage, with the escees, it at~y, paid to BoROwer. In the event of a partial taking ot the Prope:rty, unless E3orrower a~d l.ender otherwise agree in writing. then shall be applied to the euma eecured by this Mortgage such proportion o[ the proceeds as is equal to that proportion which the amount o! the sums secured by thie Mortgage immediately prior to the date of taking bears to the fair markrt velue of thc Property immediately priur to the date of takiog, with the bala~ca of the proceeds paid to Borrower. If the Property ie abandoned by Borrower, or if, after notice by l.ender tu Borrower that the oondemnor oPfere to make an award or eetde a claim for damages. Bor~ower faile to reapond to l.ender within 30 daya after the date auch notice is mailed, l.ender is authorized to collect and apply the proceeds, at I.ender's option, either to restoration or repair of the property or to the sums secured by this Mortgage. Unleae l.ender and Borrower otherwiee pgree in writing, any auch appiication of proceeds to principal ehall not extend or postpone thedue date of the monthly installmenta referred to in paragraphs 1 and 2 hereof or change lhe amount of such installments. l0. Borrower Not Releaeed. E:teneion of the time for paymant or modification otamortization of the aums aecured by thie Mortgage Krante~i by l.ender to any euccesaor in interest of Rorrower ahal) not operate to mleaae, in any manner, the liability of the original Borrower nnd f3orrower a auccesaore in interest. I.ender ahall not be required to commence proceedings againat euch auccessor or refuee to extend time fur p~yment or othenvise maiifv amortization of the suma secured by thia Mortgage by reaxnn of any dem:~nd made by thc oriKinel Borrower and f3orrov-~i's su~•~rswrs in interest. " l 1. Forbearaace by Lender Not a Waiver. Any forbearance by l.ender in exercising any right or remedy hereunder, or otherwiee afforded by applicabie iaN, ehall nut br a waiver of ar preclude the exercise of any such right or remedy. The procurement of insurance or the payment o( ca~ea ur other liena or chargea by l.ender ahall not be a waiver of l.ender'e riRhl tn accelerate the maturity of the indebtedness secured by thie Mortgage. 12 Remedies Cumulative. All remediea provided in thia Mortgage are diatinct and cumulaiive to any other right or remedy under thia Mortrage or aftorded by law or equity, and may be exerciee~l ooncurrently, independently or succpasively. 13. Succeesors and Aeaigne Bound: Joint and Several Liability; Ceptione. The rnvenants and agreementa herein rnntained aha11 bind, and the righta hereunder ahall inure to, the reapective auccesaors and assigna of Lender and E3orrower, aubject to the provisiona of paragraph I? hereot. All covenants and agreementa of Borrower shall be joint and eeveral. 7'he captiona and headinga of the paragraphs of this Mortgage are for covenience only and are not to be uaed W interpret or define the provisiona hereof. 14. Nolice. Except for aay notice required under applicable law to t-e Riven in another manner, (a) any notice to E3orrower provided [orin this Mortgage ahail be given by mailing such notice by certified mail addresaed to ~3orrower at the Property Addreas or at such other address as 13orrower may desiKnate by notice to Lender aa provided herein, and Ib1 any notice to l.ender ahall be given by certified mail, return receipt requeeted, to I.ender's address atated herein or to such other address as l.ender may clesignate by notice to Borrower ax pmvided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or [.ender when given in the manner deaignated herein. 15. Uniform Mortgage; Governing I.aw: Severability. Thia form of mortgagecombines uniform covenants for national uee and non- uniform covenants with limited variations by jurisdiction to constitute a uniCorm security inatrument covering real property. Thia Mortgage shall be governed by the law of the juriadiction in which the f'roperty is Iceated. In the event that any proviaion or clause of this I-tortgage or the Note conflicts with applicable law, auch conflict shall not affect other provisions of this MortRage or the Note which can be given effect without the cun8icting pm~~aion, and to this end the pmvisions of the Mortgage and lhe Note are declared to be severable. 16. Borrower'e Copy. Borrower shall be furnishcd a conformed copy of the Note and of thie Mortgage at the time of execution or after recordation hereut ' 17. 't~anster of the Pwp~rty; Aseumption. If all or a~y part of the F'roperty or an intereet thernin is sold or tranaferred by E3orrower without I~ender's prior written consent, excluding la) the creation of a lien or encumbrance subordinate to thie Mortgage, (b) the creation of a purchase money security interest for household appliances, (c- a tranafer by devise, d~scent or by uperation of law upon the death of a joint tenant os (d) the grant of any leasehold interest of three years or leas not containing an option to purehase, Lender may, at Lender e option, declare all the eums aecured by this Mortgage to be immediately due and payable. I.ender ehall have waived auch option to accelerateif, prior to the sale or tranafer, I.ender and the person to whom the Property ia to be sold or transferred reach aqreement in writing that the creditof such persun is satisfactory• to l.ender xnd that the interc~t payable on the sums secured by this 1NortgaQe shall be at such rate as I.endet ehall request_ If I.ender has vraived the option to accrlerate provided in thia paragraph I7, and if E3orrov-er's suceessor in intereat has executed a written assumption agreement accepted in writinK by l,ender, l.ender shall release Borrower from all obligations under this Mortgage and the Note. [f I.ender exercises such option to accelerate, i.e~der shall mail liorrower notice otacceleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not les.g than :i0 days from thedate the notice is mailed within which Rormwer may pay thesums declared due. If Borrower Cails to pay such sums prior to the expiration uf such periud. Ixnder may, without further notice or demand on Eiorrower, mvoke any remedies permitted by paraKraoh IR 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 NOUSING 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 AgreeEnent which expires at such time as all the Bonds shal~ 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, 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. Among othPr 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 to exceed the ter.m of this agreement. The interest rate on the mortgage loan may be increased in the event of such an assur:~ption, 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 ar 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 prevaii. d, t';K 350 P~~,~ 17~