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Home My WebLink About04788. ln~pection. Lender mey make or cawe b be made reaao~able entrie~ upon and in~pections o[the property. pmvided that Lender she-p give 8orrower notice prior to.any such in~pection speeitying reasonable sawe therefor reiated to Lender'~ interest in the Property. 9. Coademnation.'llte proceeds of any awsrd or claim for damages. direct or con~equential. in connection with any oondeatnatio~ or other taking of the proparty, or part thereof. or for conveyanoe in Geu of coademnation, an hereby aaaigned and shaU be paid to [.ender. In the event of a eotal taking of the Property, the proceeds ehall be applied to the sums secured by thie Mort~age. with the ~oa~. if any, paid to Sosrower. in the event of a padial talting oi the Pmpcrty. unless Borrower and Lender otherwise agree in writing, there shall be app6ed to the sums aecured by this Mortgage such proportion of the proceeds as is equai W that proportion which the amount of the sums eecured by thie Mortgage immediately prior to the date of taking bears to the fair martet value of the Property immediately prior to the date of taking, with the balanuz of the proceeds paid to Borrower. If the Property 'sa sbandoned by Borrower, or if. aRer notice by Gender to Borrower that the oondemnor otiers to make an award or setde a ctaim for damages. Borrowes fails to respond to Lender within 30 daye aft,er the date such nodce is mailed. Lender is authorised to rnllect and apply the pmceeds. at Lender's option, either to r~torabion or repair of the property or to the sums securad by this Mortgage. Unlees Lender and Borrower otherwise agree in writing, any such application of proceeds b principal shall not estend or po~tpone the due date of the monthly inetaUmenta referred to in paragraphs 1 and 2 hereof or change the amount of such installments. .10. Borr~ower Not Released. E:tension of the time for paym:nt or modification of amortization of the suma secured by thie Mortgege granted by I.ender to any eucceasos in intereat of Borrower ehall not operete to releuee, in any manner, the liability otthe original Borrower and Sorrower'e eucceasors in intereat. l.ender ehall not be required to oommence proceedinga againat auch aucceseor or refuee to extend time for paymc•rt or otherwise madify amo~rtization of the sums secured by this Mortgage by reason of any demand made by the origina) Borrower and Rorrower a au~reseor« in interest. 11. Forbearaace by Lender Not a Waive~. Any t~rhearnnce by i.en~er in r=erriaing any right ar r~meciy hereunder. or otherwiee af[orded b~ applicable law, ehall not be a waiver of or preclude Lhe exerciee of any euch right or remedy. The procurement of inaurance or the payment of taxee or other iiens or charges by Lender ahall not be a waiver of L.ender'a right to accelerate the maturity of the indebtednees eecured by thie Mortgage. ~ 12 Remedies Cumulative. All remediee provided in this Mortgage are dietinct and cumulative to any other right or remedy under this Mortrage or afforded by law or equity, and may be exercise~i ooncurrently, independently or eueceeeively. 13. Successors ~nd Aesigne Bound; Joint sad Several Liabitity; Captions. The rnvenanta and agn~ementa herein contained shall bind, and the righta ~ereunder ehail inure to, the respective eucce8soro and aseigne of Lender and Borrower, eubject to the proviaione of paragreph 17 hereof. All rnvenanta and agreemente of Borrower shall be joint and eeveral. The captions and headinga of the peragraphe of thia Mortgage are for rnvenience only and are not to be ueed to interpret or define the provisions hereof. 14_ Natice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower providedforin this Mortgage ahall be given by mailing such notice by certi6ed mail addreaecd to Borrower at the Property Addreas or at auch other addreae aa Borrower may designate by notice to I.ender as provided herein, and (bj any notice to [.ender ahaU be given by certified mail, return receipt requeeted, to [.ender'a addresa stated herein oT to auch other addresa aa Lender may deeignate by notice to E3orrower as prorided hezein. Any nutice provided for in thia Mortgage shali be deemed to have been given to Bormwer or Lender when given in the manner designated herrin. 15. Uaiform Mortgage; Governing I.aw; 3eversbility. This form of mortgage combines uniform rnvenanta for national uee and non- uniforra covenanta with limited variationa by juriediction to rnnstitute a uniform security instrnment covering real property.'IT~is Mortgage ehall be governed by the law otthe jurisdiction in which the Property ia located. In the event that any provieioe or clauee of this Mortgage or the Note conflicte with applicable law, auch confliM shall not af'fect other provieiona of thie Murtgage or the Note which can be given effect without the conflicting provision, and to tfiia end the pmviaiona of the Mortgage and the Note are declared to be severable. 16. Borrower'e Copy. Borrower ehall be furniahed a rnnformed rnpy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Tranefer of the Property; Aseumption. If all or any part of the Property or an intereet therein ie sold or traneferred by Borrower without I.ender a prior written coneent, excluding (a) the creation of a lien or encumbrance eubordinate to thie Mortgage, (b) the creation of a purchase money security intereat for houeehold appliancea. (c) a tranefer by devise, dc~cent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intereet of three yeara or lese not rnntaining an option to purchase, Lender may, at Lender e option, declare ali the auma securea by thie Mortgage to be immediately due and payable. Lender ahall have waived auch option to accelerate if, prior to the eale or tranefer, Lender and the peraon to whom the Property is to be sold or tranaferred reach agreement in writing that the credit of euch peraon is eatisfactory to [.ender and that the interest payable on the sums aecured by thie Mortgage shall be at auch rate as Lender ahall request. If Lender has waived the option w accelerate provided in thia paragraph 17, and if Borrower'e succesaor in intereet haa exeruted a written axaumption agreement accepted in writing by I.ender, Lende~ ahall release Borrower from all obligations under thia Mortgege and the V ote. If Lender e:ercise~ auch option to accelerate, l.ender shall mail Borrower notice otecceleration in accordance with paragraph 14 hereof. Such notice aha11 provide a period of not less t:~an 30 days from thedate the notice is rr.ailed within which Borrower may pay theaume declared due. If Borruwer fails to pay auch sums prior to the expiration of auch period. [.encier may, without further notice or demand on Eionower, invoke any remediea permitted by paragraoh 18 hereof. 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been procured by Lender pursuant to l.oan Agreement between HOUSING FINANCE AUTHORITY OF ST. U IE COUNTY, Florida, and Lender, the interest of the Housing Finance~Authority of St. .L cie County, Florida, in said Agreement having been assigned to FLORIDA NATIONAL BANK OF , IAMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of St. Lucie County, Florida. lfnder 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 i~ which by Barrawer sha11 autanatically accelerate all relnaining 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 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 17-A shall prevail. ~,K 35~ ~~~E 4~~ a^~K~