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Home My WebLink About04658. Inspestion. I.ende~ may make or cauee to be made reasonable entries upon and inspectiona of the property, pmvided that I.e~der shall ~rive Eiorrower notice prior eo eny auch inspection sperifying reasonabla cauee therefor releted to l.ender's intereet in the Property. 9. Condemnatfon. The pmceeds of any award or claim for damages, direct or conaequential, in connection with any oondemnation o~ other takir~g of the property, or pa~t thereof. or for co~veyance in lieu ot oondem~ation. are hereby asaigned aad shall be paid to Lender. in the event of a wtal taking of the Property, the proeeede shall be epplied to the aums secured by this Mortgage, with the e:ces~, if any, paid to Borrower. In ehe event of a partial taking ot ehe Property. unlesa Borrower and [,ender otherwise e~gree in writing. there shall be applied to the aume eecured by this Mortgage such pmportion of the proceeds as is equal to that pmportion which the ainount of the sums aecured by thie Mortgage immediately prior to the date of taking bearn w the [air merket value of the Property immediately prior b thedate of taking, with the balanca of the proceeda paid to Borrowe~. If the Property ie abandoned by Borrower, or if, efter notice by Lender to Borrower that the condemnor oPfero to make an award or settle e claim for dameges, Borrower feils w respond to l.ende~ within 30 daye atter the date auch notice ia mailed. [.ender is authorised to collect and apply the proc~ceda, at I.ender's option, either to restoration or repair of the property or to the aums eecured by this Mortgage. UnlrBa Lender and Borrower otherwiee agree in writing, any auch application of proceeds to principal ahall not exte~ or poetpone the due date of the monthly inataUmente referred to in paragraphs 1 and 2 hereof or change the amount of sucA inatallments. 10_ Borrower Not Releaeed. Extenaion of the time for paymant or modification of amortization of the eums eecured by this Mortgage granted bv I,e~der tc any eucceaeor in intereat of E~rrower ahall not operate to release, in eny manner, the liability of the original Borrower and Borrower's succeasors in intereat. I.ender ahall not be required to commence proceedings againet euch succesaor or refuae to extend time tor payment or otherwise m~ify amurtization of the aums secured by this Mortg~tge by reason of any demand made by lhe oriRinal Borrower ;~nd I~rmw~r's Ruccti~uaora in interest. 1 S. Forbearance by Lender Not a Waiver. Any forbearance by l.ender in exercising any right or remedy hereunder, or otherwiee afForded bv applicable taw, ehall not be a waiver of or preclude the exerciee of any euch right or remedy. The pmcurement of insurance or the payment of taxES or uther liena or chargee by Lender shall not be a waiver of Lender's right to accelerate the maturity of the indebtedneas Recured by this Mortgage. 12 Remedies Cumulative. All remedies provided in thia Mortgage are dietinct and cumulative to any other right or remedy under thie Mortrage or afforded by law or equity, and may be exerriee~i ooncurrently, independently or eucceseively. 13_ SucceBaors and Asaigne Bound; Joint and Several Liability; Captions. The covenante and agreements herein contained ehall bind, and the righta hereunder ehall inure to, the reapective succesaors and asaigna of Lender end Borrower, subject to the proviaione of paragraph 17 hereof. All covenants and agreements of E3orrower ahall be joint and eeveral. The captions and headings o[the paragraphe of thia Mortgage arn for covenience only and are not to be uaed to interpret or define the pmvieions hereof. 14. Notice. Except for aay notice required under applirable law to be given in another manner, lal any notice to I3orrower provided for in this Mortgage shall be gi~ en by mailing such notice by certified mail addresst.d to f3orrower at the Property Addrese or at such other addreae as E3orrower may desiqnate by notice io l.ender en provided herein, and Ib) any notice to I.ender ahalt be given by certified mail, retum receipt rrquested, to I.ender's address stated herein or to auch other address as Lender may designate by notice to Borrower an provided herein. Any notice provided for in thia MortgAge ahall be deemed to have been given w Borrower or I.ender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law; Severability. This form of mortgagecombinee uniform rnvenante for national use and non- uniform covenanta with limited variations by juriadiction to eonatitute a uniform aecurity instrument covering rea) property. Thie Mortgage shall be govrrned by the law of the jurir.diction in which the E'roperty is Iceated_ In the event that any pruviRion or clause of thia lllortgaqe or the Note conflicts w~th applicable law, such mntlict shall not aftect other proviaions of this MurtRage or the Note which can be given effect without the contlicting pmvision, and to this end the provisions of the Mortgage and the Note are declared to be severable. 16. Barrower's Copy. E3orrower shal) be fumished a conformed rnpy of the Note and of thia Mortgage at the time of execution or after recordation hereof. 17_ 'IYanater of the Property: Aseumption. If aU or any part of the Property or an intereat therein is aold or transferred by f3ortower without Lender s prior written consent, excluding (a1 the creation of a lien or encumbrance aubordinate to this Morigage, (b) the creation of a yurchase money security interest for houaehold appliancea, {c) a transfer by deviae, deacent or by operation ot law upon the death of a joint tenant or (d) the grant of any leasehold intemat of three years or lesa not containinq an option to purchaee, Lender may, at [.ender a option, declare aU the aums secured by this Mortgage to be immediately due and payable. [.ender shall have waived auch option to accelerate if, prior to the sale or tranafer, Lender and the person to whom the Property is to be sold or tranaferred reach agreement in writing that the credit of euch person is satisfactory to [,ender and that the interest payable on the sums secured by this AtortRage shall be at such rate as I.ender ehall rEqurst. If I.ender has wai~ ed the option to accelerate prov~ded i~ this paraqraph 17, and if Borrower's successor in interest has e:ecuted a written assumption agreement accepted in writing by I.ender, l.ender shall release Borrower from all obligations under this Mortgage and the V ote. If I.ender exercisea such option to acce(erate, I.ender shali mail (3orrower noticeof acceleration in accordance with paragraph 14 hereof Such notice shall provide a peri~xl of not Ic~rs than :~) days frum thedate the notice is rr.ailed within which Borrower may paY the aums declared due. If Borrower faiis to pay auch sums prior to the expiration of such period. I.rnder may, without further notice or demand on liorrower, m~oke any remedies permitted by paraKraoh IR hereof. l7-A. The proceeds of the loan evidenced by the promissory note secured hereby have been procured by Lender pursuant to Loan Agreelnent 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 FIORIDA 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 Sorrower, 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 F~ational Bank of Miami, available for examination by any party during legal business hours of each business day. Among 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 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 l7-A shall prevail. ; ~. ~- ~ .. ~f:= ~~=-. _ • _ - - - . - . __ ~. :;'3;.1~(-JW P'~GE ~~c~