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Home My WebLink About1480 8. Inspectlon. l.e~der may make o~ cawe to be made reasonable e~tries upor- and inspection~ of the pmperty, pwvided thet I.eader ~hell give Borrower notice prior to eny ~uch irupection specifyi~g reaaonable cawe lherefor related to I.ender i intere~t ir- the Property. 9. Condemaatlon.'I1~e proceed~ of a~y award or claim for damage~, direct or con~equrntial. ir- rnnneMio~ with any oo~demnation or other taking of the pmperty, or part thereot, or [or conveyance in lieu o( oondemnation, are hereby aasi~ed eurd ~hall be p~id to I.ender. In the event o! w totsl taking o! the Property, the proceed~ ahall be applied to the ~ums secured by thu Mort~a~te, with the ~oes~, if any, paid to Bormwer. In the event ot a partiel taking ot the Property. unless Borrower and Lender otherwise agree in writing, there shall be applied to the sums eecured by this Mortgage such proportion ot the proceeds as is equal Lo that pmportiort which the amount of the sum~ eecared by this Mortgage immediately prior to the date ot taking bears Lo the fair market value of the Property immediately prior to the date of taking, with the balanc~ of the proceeds paid to Borrower. It the Property is abandoned by Bo~rower, or if, aRer notice by Lende~ to Borrower that the condemnor ofte~s to make an award or setde s claim for damages, Borrower faib b~espond to [.ender within 30 days after the date such notice is mailed, l.ender is suthorized to rnllect and apply the proceeds, at I.ender e option, either to reatoratio~ or repair of the pmperty or to the sums secured by this Mortgage. Unleas I.ender snd Borrower otherwise agree in writing, any auch application of proceeds to principal ~hall not e:tend or postpone the due date of the monthly installme~ts referred to in paragraphs 1 and 2 henof or change the amount of such installments. 10. Borrower Not Releaeed. Exteneion of the time for paym:nt or modification of amortization of the sums secured by this Mortgage granted by I.ender to any aucceasor in i~tereat of Bormwer ehall not operate to releaee, in any manner, the liability ot the origina! Borrower and I3orrower'e succeaeora in i~tereet. I.ende~ ehall not be required to commence proceeclinge against auch auccessor or refuae b extend time fo~ payment or otherwiae modify amortization of the eums aecured by this Mortgage by reason of any demand made by theori~nal E3orrower and Borrower s aucceasora in intereat. 11. Forbearance by Lender Not a N-aiver. My forbearance by l.ender in e:ercieing any right ur remedy hereunder, or otherwiee afforded by applicable law, ehall not be e waiver of or preclude the exerciee of any euch right or remedy. The pmcurement of ineurance or the payment of ta:ee or other liene or chargee by Lender ahall not be a waiver of I.ender a right to accelerate the maturity of the indebtednees aecured by thie Mortgage. 12 Remedies Cumulative. All remedies pmvided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortcage or afforded by law or equity, and may be e:ercise~l ooncurrently, independently or succeasively. 13. 3ucceeeore and Aseigne Bound; Joint and Severel Liability; Captions. The covenante and agreemente herein contained ahall bind, and the righte hereunder ahall inure to, the reepecti~e aucceseora and assigne of I.ender and Borrower, aubject to the provisions of paragraph 17 hereof. All covenants and agreements of Bore»wer ehall be joint end eeveral_ The captions and headinqs of the paragra~hs of thia Mortgage are for covenience only and are not to be used to interpret or define the provieione hereof. 14. Notice. Except tor any notice required under applicable Iaw to be given in another manner, (a) any notice to [3orrower provided for in thia Mortgage shaU be given by mailing auch notice by certified mail addreseed to Borrower at the Property Addreae or at such other addrese ae I3orrower may deaignete by notice to I.ender ae provided herein. and (b) any notice to l.ender ahall be given by certified mail, return receipt requeated, to I.ender'a addreas atated herein or to auch other address ae Lender may de$ignate by notice to Borrower ae provided herein. Any nutice provided for in thie MortgaRe ehall be deemed to hsve been given to Borrower or l.ender when given in the manner deeigneted herein. 15. Uniform Mortgage; Governing I.aw; Severability. Thia form of mortgage combinea uniform covenants for national uee and non- uniform rnvenante with limited variations by jurisdiction to conatitute a uniform security inatrument oovering real property_ 1T~ie Mortgage ahall be governed by the law of the jurisdiction in which the Property ia located. In the event that any provieion or clauae of this Mortgage or the Note con0icte with applicable law, auch contlict ahall not affect other provieions of this Mortgage or the Note which can be given effect without the conRicting proviaion, and to thia end the proviaiona of the Mortgage and the Note are declared to be aeverable. 16. Borrower's Copy. Borrower shall be furniahed a conformed rnpy of the Note and of this biortgage at the time of execution or after recordation hereof. 17. Transfer of the Property; Aseumption. If all or any part of the Property or an intereet therein ie eold or traneferred by Borrower without Lender'a prior written coneent, excluding (a) the creation of a lien or encumbrance aubordinate to thie Mortgxge, (b) the crnation of a purehaee money eecurity interest for houeehold appliancee. (c) a transfer by deviee, deecent or by operation of law upon the death of a joint tenant or ld) the grant of any leaeehold intereet of three yeare or less not containing an option to purchase, Lender may, at Lendei s option, II dectare all the auma secured by this Mortgage to be immediately due and peyable. I.ender ehall have waived euch option to accelerate if, prior to the sale or tranefer, [.ender and the pereon to whom the Property is to be sold or transferred reach agreement in writing that the creditof euch i person is satiafactory to Lender and that the inte~eat payable on the aums aecured by this Mortgage shall be at such rate as Lender shall request. if Lender has waived the option to accelerate provided in thia pa~agraph 17, and if Borrower's auccessor in interest hae executed a .v~i~In mr :~.. ~6•a...u~:.: u.tSYwu -u .. ::1.:R .~i~ i.a•:ucL, :.i:.iuc7ei.S:: P£ii.a~E a~ivuv.~cT uvw o:: vv:'RoaCv.•o v.:G~.c^i :u:°.*.'~.^va'~..6^o$c nTiv ~iic ~ NOIP...^....,..... .e ~ If Lender exercisea auch option to accelerate, l.ender ahall mail E3orrower notice of acceleration in accordance with paraqraph i4 hereof. Such notice shall provide a period of not leas than 30 daya from thedate the notice ia rnailed within which Borrower may pay theaume deciared ~ due. If Borrower faila to pay auch suma prior to the expiration of such period, I.ender may, without further notice or demand on Eiorrower, invoke any remedies permitted by paragraoh lA hereof. ~ 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have ~een ~ procured by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTNORITY 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 7rustee 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- r, 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 autanatically 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 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. ~ a~';x3~ ~~~,~~~~ ; ~ ~ ~ r _ __ ~. _ _ _ -_ . ~__ __