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Home My WebLink About04948. Ia~peMioa. l.ender may make or cause to be made rea~oneble entries upo~ and in~pectioru of the pmperty, provided that Leader ~hall give Bonower notice prior to any such inspectioa specitying reasonable cause therefor relaf~ed to l.ender'~ interest in the Property. 9. Condemnatloa.'17~e proceeds of any awurd or cleim tor damages. direct or consequential, ia connection wiW any aoadeznnation or other taking of the pmpesty. or part thereof, or for co~veyance in lieu of oo~demnatior-. are hereby awigned and shall be paid b Lender. In the event of a total taking ot the Property. the proceeds shall be appUed to the suma secured by this Mortgage, with the esoesa. if any. paid to Borrower. In the event of a paitial taking of the Property, unless Borrower and Lender otherwise agree iA writi~. there ahall be applied to the eums secured by this Mortgage such pmportion of the proceeds ae is equal to that proportion which the uaoun! of the sums eecured by this Mortgage immediately prior to the date o! taking bears to the fair market value of the Propedy iiamediately prior to the date of talcing, with the balanca of the proceeds paid to Borrower. If the Property is abandoned by Borrower. or if, after notice by Lender to Borrower that the condemnoroffers to mel~e an award or settle a claim for damages, Borrower lails to reepond to Lender within 30 daye after the date euch notioe is mailed, Irnder is authorised to coUect and apply the proceeds. at I.ender's option. either b restoration or repair of the pro~erty or to the sums securcd by this Mortgage. U~less I.ender and Borrower otherwiae agree in writing, any auch application of proceeds to principal shall not e:tend or postpone the due date of the monthly installments nferred tu in paragraphs 1 and 2 hereof or change the amount of such inetaWnents. 10_ Borrower Not Released. Extension of the time for paymant or modification of emortization of the euma eecured by this Mortgage granted by Lender to any succeaeor in intereat of Borrower ahall not operate to release, in any manner, the liability o[ the original Borrower and 13orrower'e succeasora in intereat. Lender shall not be required to oommence proceedings against euch succesaor or refuae to extend time for payment or otherwise modify amortization of the sums aecured by this Mortgage by reason of any demand made by the origina) Borrower and Borrower a succesaors in interest. i l. Forbearance by Lender Not a R-aiver. Any forbearance by l.ender in exercising any right or remedy hereunder, or otherwise af~'orded by applicable law, ahaU not be a waiver of or preclude the exerciee of any euch right or remedy. The pmcurement of ineurance or the payment of te~ces or other liene or chargea by Gender shall not be a waiver of Lender's tight to accelerate lhe maturity of the indebtednees secured by thie Mortgage. ' 12. Retaedies Ceunulative. All remedies provided in thie Mortgage are dietinct and cumulstive to any other right or remedy under thia Mortrage or afforded by law or equity. and may be e:erciee~l rnncurrendy, independently or eucceasively. ~ 13. Sucoeseore and Aseigaa Bound; Joint and Several Liability; Captione. The rnvenant8 and agreemente herein contained ehall bind, and the righta hereunder shall inure to, the respective aucceeeore and aeaigns of Lender and Borrower, aubject to the provieione of paragraph 1 T hereof. AU covenants and agreemente of Borrower shall be joint and eeveral. The captione and headings of the paragraphs of thia Mortgage are for covenience only and are not to be ueed to interpret or deCu~e the proviaione hereof. 14. 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 euch notice by certified mail addreaeed to Borrower at the Property Addrese or at such other addrese aa t~rrower may deeignate by notice to Lender as provided herein. and (b) any notice to I.ender shall be given by certified mail. return receipt requeated, to Lender a addresa atated herein or to auch other addreae se I.ender may deaignate by notice to Borrower ax provided henin. My notice provided for in this Mortgage ahall be deemed to have been given to Borrower or Lender when givrn in the manner deaignated herein. 15. Uniform Mortgage; Governiag Law; Severability. Thie form otmortgagecombinea uniform oovenantefor national uae and non- uniform covenante vrith limiled variationa by juriediction to rnnetitute a uniform aecurity inatrument rnvering real property. This Mortgage shall be governed by the law of the juriadiction in which the Property ia located. In the event that any provieion or clauae of this Mortgage or the Note conflicta with applicable law, auch rnntlict ehall not affect other provisions of this Mortgage or the Note which can be given effect without the conflicting provieion, and to this end the provisions of the Mortgage and the Note are declared to be severable. 16_ Borrower's Copy. Borrower shall be fumiehed a conformed copy of the Note and of thie Mortgage at the time of e:ecution or after recordation hereof 17. Transfer ot the Property; Assumption. IF all or any part of the Property or an intereet therein ie aold or tranaferred by Borrower without I.ender a prior written consent. excluding (a) the creation of a lien or encumbrance aubordinate to thia Mortgage, (b) the creation of e purrhase money security interest for houeehold appliancea, (c) a tranafer by deviae, d~scent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intereat of three years or leaa not rnntaining an option to purchaee, I.ender may, at Lender a option, declare all the euma secnred by this Mortgage to be immediately due and payable. I.ender ehall have waived such option to accelerate if, prior to the eale or tranefer, i.ender and the peraon to whom the Property ia to be sold or traneferred reach agreement in writing that the creditof auch person ia eatisfactory to l.ender and that the intereat payable on the auma secured by this Mortgage shall be at such rate as L.ender shall request. If Lender has waived the option lo accelerate provided in lhia paragraph 1~, and if Barrower s aucceasor in intereat has ezecuted a written asaumption agreement accepted in writing by Lender, Lenderahall releaee Borrower from al) obligationa under this Mortgage and the :Yote_ If Lender exercises auch option to accelerate, I.ender shaU mail Borrower notice of acceleration in accordance with pazagraph 14 hereof. Such notice shall provide a period of not lese than 30 days from the date the notice is ~r.ailed within whieh Borrower may pay the aums declared due. If Borrower fails to pay such sums prior to the expiration of such period, I.ender may, without further notice or demand on Eiorrower, ~nvoke any remediea permitted by paraqraoh 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 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 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 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 autamatically 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 bus:ness 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 as~umed 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 inereased 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. ~.^.7K'J~ P~~E 494 : ~ ~ - -- x-~ `.=C6Y . .. ... . .. . . .. . . . - . ' . _ ~ - ~ .: - . - . - ... . _ ~~: