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Home My WebLink About1944. 8. ln~pectioa. I.ender may make or cauae to be made reawnable entrie~ upon and irupections otthe pmperty. provided that Lender ~hell give Borrow~ aotice prior to eay such inspectioa specitying reasonable cause therefor related to Lender'~ iaterest ia the Pcoperty. 9. CondemaaUoa.'l1~e proc~edi of any award or claim for damage~. direct or consequeatial, in conaection MriW any ooademnetion or oth~ taking of the pmperty, or part thereof, or for conveyanoe in lieu of oondemnation. are hereby twiQned and sheU bs paid b Lender. 1~ the event of e total taking of the Ptoperty. the proceeds shall be applied to the sums secured by this Mortga~e. ~rith the ~oes~, if any, paid to Borrower. In the event of a partial taking of the Property, unless Borrower and Lender otherwise egree in writin~, there ~hall be applied to the sums secured by thu Mortgage such proportion of the proceeds as u equal to that pmportion which the amount of the auns secured by this Mortgage immediately prior to the date of taking besrs tu the tair market value of the Property immediately prior to the dete of taking, with the bulanoa of the proceeds paid b Borrower. If the Property is ebandoned by Borrower. or if, aRer notice by Lender to Borrower that the rnndemnor offers b make an award os settle a claim for damages, Borrower fails to respond to I.ender within 30 days atter the date such notioe is mailed. [.ender is authorized to oollect and apply the pmoced~. at Lender s option, either to r~bration or repair of the ptoperty or to the aums aecured by this Mortgege. Unlees Lender and Borrower otherwise agree in writing, any such apFlication of proceeds to principal shall not extend or postpone the due date of the monthly in~tallments nferred to in paragraphs 1 and 2 hercof or change the amount of such installments. 10. Boetuw~er Not Released. Extenaion of the time for paym=nt or modification of amortization of the sume eecured by this Mortgage grantcd by lxnder Lo any succeseor in intereat of Borrower ehall noS operate to releaee, in any manner, the liability of tbe origi~al Bormwer and t3orroweT a euccesaors in intereat Lender ahall not be required to oommence proccedinga against such aucceeaor or refuBe to extend time for payment or utherwise modify amortization of the sums aecured by this Mortgage by reaeon of any demand made by the original Borrower nnd Borro~er's xacceasors in intereat. t l. Forbearance by Leuder Not a Waiver. Any forbearance by Le~der in exercising any right or remedy hereunder, or otherwiae afforded by applicabie la~v, shall not be a weiver of or preclude the eYercise of any auch right or remedy. The procurement of inaurance or the payment of t~es or other liens or charges by Lender ehall not be e waiver of Lender's right to aocelerate the maturity of the indebtednesa secured by thia Mortgage. 12 Remediea Gtimulative. All remediea pmvided in thie Mortgage are dietinM and cumulative to any other right or remedy under thia Mortrage or afforded by law or equity, and may be e:erciee+i aoncurrently, independently or eucceesively. 13. 3uccessors and Assigas Bound; Joint-and 3everal Liability; Captions. The rnvenants and agreemente herein contained ahall bind, and the riRhts hereunder shall inure to, the respective eucceeeore and aasigns of Lender and Borrower, aubject to the provisione of paragraph 17 hereof. All covenenta and agreements of Borrower shall be joint and eeveral. The ceptions and headinge of the paragraphs of thia Mortgage are for covenience only end are not to be uaed to interpret or define the provieions hereof. 14. Notice. Except for any ~otice required under applicable law to be Riven in another manner, (a) any notice to Borrower provided for in thie Mortgage ahall be given by mailing auch notice by certified mail addreseed to Borrower at the Property Addreae or at such otheraddress as Borrower may deaignate by notice to Lender ae provided herein. and (b) any notice to I.ender ahall be given by certified mail, return rec~eipt requeated, to Lender'a addreea atated herein or to auch other addrees ea Lender may deaignate by notice to Borrower an provided herein. Any notice provided for in thia Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner deaignated herein. 15. Uniform Mortgage; Governing Law; Severability. Thia form of mortgage combinee uniform oovenanta for national uee and non- uniform covenanta with limited variatione by juriadiction to rnnatitute a uniform eecurity inetrument rnvering real property. This Mortgage shall be guverned by the law of the jurisdiction in which the Property ia located. In the evenl th$t any provieion or clauee of thie Mortgage or thr Note conflicts with applicable law, auch rnnflict ehall not affect other proviaiona of this Mortgage or the Note which can be given effect without the conflicting provision, and to thia end the provieiona of the Mortgage and the Note are declared to be eeverable. 16. Barrower's Copy. Borrower shall be furniehed a conformed copy of the Note and of thia Mortgage at the time of execution or after recordation hereof. 17. Traneter of the Property; Aeeumption. lf all or any patt of the Property or an intereat therein is aold or tranaferred by Borrower without Lender e prior written consent, e~ccluding (a) the creation ot a lien or encumbrance aubordinate to thia Mortgage, (b) the creation of a purchese money security intereet for houeehold appliances, (c) a tranafer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intereat of three yeara or leas not containing an option to purchaee, Lender may, at Lender a option. declare all the aume- eecarea by thie Mortgage to be immediately due and payable. Lender shall heve waived auch option to accelerate if, prior to the sale or tranafer, l.ender and the peraon to whom the Property ie to be aold or traneferred reach agreement in writing that thecredit oteuch ; peraon is satis[actory to I.ender and that the interest payable on the aume aecured by this Mortgage shall be at auch rate as L.ender Bhall ' request. If I.ender has waived the option to accelerate pmvided in thia paragraph 17, and if Borruwer a successor in intereet has e:ecuted a j written assumption agreement accepted in writing by l.ender, Lender shall release E3orrower from all obligations under thia Mortgage and the ' tiote. ; If Lender exerciaea such option to accelerate, I.ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. ~ Such notice shall provide a period of not less than 30 daya from the date the notice is ~r.ailed within which Borrower may pav the euma declared due. If Borrower fails to pay such suma prior to the e:piration of auch period, I.ender may, without further notice or demand on ~iorrower, ~nvoke any remediea permitted by paragraoh lA 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 AUTNORITY OF ST. s LUCIE COlJNTY, Florida, and Lender, the interest of the Housing Finance Authority of ~St. l 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 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 National Bank of Miami, ~ available for examination by any party during legal business hours of each business day. 3 Among other things, the loan guidelines in said agreement provide as follows: "Mortgage loans, with the exception of FNA-insured or VA-guaranteed mortgage loans, rray 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. au~ai 3~ ~~;E1942