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Home My WebLink About04908. In~pection. L,ender mey make o~ cause to be made e+eawnable eatrie~ upoa aad ia~pectiona of the pmperty. provided that Leadar shaU give Bormw~ notice prior b any such inspection specifying reasoaebk cause therefor related to Lendsr'~ iaterest in We Propsrty. 9. C0I1fI@AlAaUO!!. The pmceed~ of at~y awerd or claim for dainages. direct or oon~equeatial, lA CO~AEC~OA Ml~l 8[1~I 001lddaAitlOA M other taking of the pmperty. os part thereof. or for conveyanoe in Ueu of coademnation. are haeby assigned and ~hall be paid to Lender. In the event of a beal takinQ of the Propedy. the proceeds ehsll be applied to the eums secured by thi~ MortQaQe, ~rith tbe ~oea. if any. paid to Borrower. In the event of a partial taking of the Property. ualea Borrower eu~d Le~d~ otherwi~e agree iA writin~, there shaU be applied to the sums secured by this Mortgage such proportioa of the proceed~ as is equal to that pcopo~tioA ~rhich ths amount of the ~uau eecured by thie Mortgage immediately prior to the date of taking bears b the fair market value of the Property immediately prior to the date of taking, with the balance of the proceeds paid to Borrower. lf the Property is abandoned by Borrower. or if, aRer notioe by Leader to Borrower that the oondemnor o~ers to make aa award or settk a claim [or damages, Borrower fails b respond to L,ender within 30 days after the date such notioe is mailed. Leader is suthorised to coUect and apply the proceeds, et I.ender's option. either to restoration or repair of the prop~ty or to the sums savrad by this Mortgage. Unleas Lender and Borrower otherwise agree in writing. any such application of proceeds to principel ahall aot e:tead a po~tpone the dne date of the monthly installmenta referred to in paregrephs 1 and 2 hereof or change the amount of ~uch installmeab. 10. Borrower Not Released. Estension of the time for paymrnt or modification of amortization of the sums eecured by this Mortgage grancect by Lender to any suc~,~essor in inte~est of Borrower ahall not operate to release, in any manner, the liability of the original Borrower and I3orrower's succeaeora in interee~ Lender ahall not be reqaired to aommence proceedings against such auecessor or refuee to e:tend time for pnyment or otherwiae modify amortization of the sums aecured by this Mortgage by reaBOn otany demand made by theoriginal Borrower and I3orrowe~b auccesaore in intereat. 11. Forbearance by Leader Not a N-eiver. Any forbearance by I.ender in e:ercising any right or remedy hereunder, or otherwiee a fforded by applicable law, ahaU not be a waiver of or preclude the e:erciee of any euch right or remedy_ The prcxucement of inaurance or the payment of tax~ or other liens or chargea by Lender ahall not be a waiver of Lender's right Lo sooelerate the maturity of the indebt~edness secured by thie Mortgage. 12. Remedies Cumulative. All remedies pmvided in this Mortgage are distinct end cvmulative to any other right or remedy under this Mortrage or af[orded by law or equity, and may be e:erciee+i ooncurrendy, independendy or suooeseively. 13. Succeeaora and Aeeigaa Bound: Joiat and Severai I.iability; Captioas. The covenants and agreements herein oontained ahall bind, and the righte hereunder shaU inure to, the respective aucceseors and asaigns of Lender and Borrower, aubject w the pmvisione of paragraph 17 hereof. All covenante and agreements of Borrower shall be joint and eeveral.'!7u captions and headings of the paragrapha o! thie Mortgage are for covenience o~ly and are not to be ueed to interpret or define the provisions hereof. I4. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in thia Mortgage ahall be given by mailing such notice by certified mail addreased to Borrower at the Property Addreaa or at such other addrese as Borrower may deaignate by notice to l.ender as provided herein, and (b) any notice to Lender ahall be given by certified mail, retarn receipt requested, to I.ender's addrena atated herein or to euch other address as Lender may deaignate by notice to Borrower as provided herein. My notice provided for in this Mortgage ehall be deemed to have been given to Borrower or Lender when given in the maaner designated herein_ 15. Uaiform Mortgage; Governiag I.sw; Severability. Thia form of mortgage combinea uniform aovenanta for national uee and non- uniform covenants with limited ~ ariationa by juriediction to rnnatitute a uniform eecurity inatrument rnvering real pmperty. This Mortgage shall be governed by the !aw of the jurisdiction in which the Property ia located. In the event that any provinion or clause of this Mortgage or the Note conflicta with applicable law, such contlict shall not at~ect other provisions of this Mortgage or the Note which can be given effect without the conflicting proviaion, and to thie end the provieiona ot the Mortgage and the Note are declared to be eeverable. 16. Bvrrower's Copy. Borrower ahall be furniahed a conformed rnpy of the Note and of this Mortgage at the time of e:ecution or after recordation hereof. " l7. 'ISransfer o! the Property; Aeeumption. If all or any part of the Property or an interest therein ia eold or transferred by Borrower without Lender a prior written conaent, excluding (a) the rreation of a lien or encumbrance aubordinate to thie Mortgage, (b) the creation ot a purchase money eecurity intereet for haueehold appliancee, (c) a transfer by devise, dxeoent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intereet of three yeara or leae not oontaining an option to purchaee, Lender may, at Lender s option, declare aU the auma eecurea by this Mortgage to be immediately due and payable. Lender shall have waived euch option to socelerate if, prior to the eale or tranefer, Lender and the person to whom the Property is to be sold or transferred reach agreement in writing that the credit otsuch peraon is eatiafactory to Lender and that the interest payable on the auma secured by this Mortgage shall be at auch rate as Lender ahall ~ request_ I[ Lender has waived the option to accelerate provided in this paragraph 17, and if Borrowei s sueoessor in intereet haa e:ecuted a w~ritten asaumption agreement accepted in writing by Lender, Lender shall release Borrower from all obligationa under thia Mortgage and the ~ ti ote. ~ ~ If l.ender exercisea such option to accelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof_ ~ ~uch notice shall provide a period of not lesa than 30 daya from the date the notice ia mailed within which Borrower may pay the aums declared ~ due. [f Borrower faila to pay such aums prior to the expiration of auch period. I.ender may, without further notice or demand on Horrower, ' ~nvoke any remediea permitted by paragra~h IS hereof. i-~ ( 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been i~'-~~procured by Lender pursuant to Loan Agre~nent between HOUSING FINANCE AUTHORITY OF ST. ~ , LUCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Authority af St. ~;~. Lucie County, Florida, in said Agreement having been assigned to FLORIDA NATIONAL BANK OF MIAMI, Fiorida, as Trustee under a trust indenture from said Housing Finance Authority of ~~ St. Lucie ~ounty, 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 copv of the Loan AgrQement 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 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." ~ If any part or parts of this Covenant 11-A is in conflict with any part or parts of Covenant ~ 17, supra, the terms of this Covenant 17-A shall prevail. . ~ c ^~;' •,JV F!~E ~~70 ~ ~ . ~_;,, . _ ~~~:.:., .:: _ . __ : =u