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Home My WebLink About19528. In~pectloA. Lender may make or cawe b be made reawnable entrie~ upon snd inspection~ oithe property, pmvided thet Leader ~hap give Borrower aotioe prior to s»y ~uch uupection ~pecifyin~ reasonable cause thenfor related to Lender'~ iaterest in the Pmperty. 9. Condemn~tioa.'tlie pmceed~ of ~ny award or claim for dsma~es. direct or oon~equential. in connec~{on writh any ooademnation or other takin~ of the prope~ty. or part thereoi, or for co~veyanoe in lieu of oondemr~atio~, are hereby ewigned ai-d shall bs paid to Lender. In the event of a total taking oi the Property, the prooeeds shall be applied to the suma secured by this Mortgege. with the ~oew, if any~ paid to Borrower. In the event of a partial taking of the Pe~operty. unlees Borrower and Lender otherwise agree ib wrritin~~ then shall be applied to the suau secund by this Mortgage such pmportion of the proceeds as is equal to that proportion which the aaaount of the ~ums secured by thia Mortgage immediaf~ely prior to the date o! Wdng bears to the fair market value of the Propedy uamediately prior b the date of taking, with the balanoe of the proceeds paid to Bore~ower. I[ the Property is abandoned by Borrower, or it. aRer aotice by I.ender to Borrower that the oondemnot oPters b make ar- award or setUe a cl~im for damages, Borrower fails to respond to Lender within 30 days after the date such notice is mailad. I.ender ie authorized to coUert and apply the pmceeds, at Lender's option. either to restoration or repair of the property or b the suma sxured by this Mortgage. Unlesa Lender and Botrower otherwise agree in writing, any such applicatioa of proceeds to principal ahall not e~ctend or poetpone the due date of We monthly instsllments refrrred to in paragraphs 1 and 2 hereof or change the amount of such installments. 2Q. Barcus~ er Not Rolesse~. E:tension of the time for gaym:nt oz modificstion of amortizsiion of !he aums secured by !lsis Martgage gianted by Lender to any succeesor in intereat of Borrower ehall not operate to releaee, in any manner, the liabilitv of the original Borrower and Borrower's auccesaors in intereet. Lender shall not be required to oommence proceedinge against such aucceeeor or refuee to e:tend time for payment oe otheswi3e mudity amortization of the aums aecured by this Mortgage by reaeon of any demand made by the original Borrower and Borrower'e succea9ors in interest. 1 l. ~orbearance by I.ender Not a N-aiver. My forbearance by Lender in e~ercising any right or remedy hereunder, or olherwiae afforded by apslic~ble law, ehell not be a waiver of or preclude the e:ercise of any euch right or remedy. The pmcurement of ineurance or the payment of taxea ur other liens or chargee by I.ender shall not be a waiver of Lender s right to aecelerate the maturity of the indebtedneas eecured by this Mortgage. 12. Remedies Cumulative. All remedies provided in thia Mortgage are distinct and cumulative to any other right or remedy ander this Mortrage or afforded by law or equity, and may be exerciee~l ooncwrendy, independendy or aucoeesively. 13. 3uccessore and Assigas Bound; Joiat and 3everal Liability; Captions. The rnvenante and agreemente herein oontained ehall bind, and the rights hereunder ehatl inure to, the respective aµcceeaors and aesigna of Lender and Borrower, eubject to the provisiona of paragraph 1 T hereof. All covenants and agreementa of Borrower shall be joint and several. The captiona and headinga of the paragraphe of this Mortgage are for covenience only and are not to be used to interpret or define the provisione hereof. 14. Notice. F.xcept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower pmvided forin thia Mortgage ahall be given by meiling auch notice by certified mail addreseed to Borrower at the Property Addreae or at such other addrese ae Borrower may deaignate by notice to [.ender as pmvided herein, and (b) any notice to I.ender shall be given by certified mail, return reoeipt requested, w I.endei s addresa atated herein or to euch other address ae Lender may designate by notice to Borrower eB provided herein. My notice provided for in thie Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner deeignated herein. 15. Uniform Mortgage; Governiag I.aw; Severability. Thia form of mortgege rnmbines unifarm oovenants for nationai uee and non- uniform rnvenante with limited variationa by juriediction to constitute a uniform aecurity inetrument rnvering real property. Thie Mortgage shall be governed by the Iaw of the juriediction in which the Property is located. In the event that any proviaion or clauee of thie Mortgage or the Note conflicta with applicable Iaw, auch conflict ahall not af~ect other provisiona of this Mortgage or the Note which can be given effect without the confticting proviaion, and to this end the proviaions of the Mortgage and the Note are declared to be eeverable_ l6. Borrower's Copy. Borrower ahall be furniehed a conformed copy of the Note and of thie Mortgage at the time of execution or after recordation hercof. 17. 'I~aneter ot the Property; Aseumption. I~ all or any part of the Property or an intereat therein ie aold or traneferred by Borrower without I.ender e prior written coneent, excluding (a) the creation of a lien or encumbrance eubordinate to [hie Mortgage, (b) the creation of a purrhase money eecurity intereat for houeehold appliancea, (c) a tranefer by devise, d~ecent or by operation of law upon the death of a joint tenant or (d) the grant of any leaeehold intereet of three years or ieee not oontaining an option to purchaae, I.ender may, at Lender e option, declare all the sume secured by thia Mortgage to be immediately due and payable. Lender shall have waived auch option to accelerate if. prior to the sale or tranefer, Lender and the peraon to whom the Property ie to be eold or treneferred reach agreement in writing that the credit of euch person ia satiatactory to Lender and that the intereet payable on the aums aecured by this Mortgage shall be at such rate as Lender ahall request. if Lender has waived the option to accelerate provided in. this paragraph 17, and if Borrower s euccesaor in interest has e:ecuted e written asaumption agreement accepted in writing by Lender, Lender shali release Bortower from all obligations under thia Mortgage and the `: ~Lg. If Lender exerciaea such option to acuelerate, Lender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice ahall provide a period of not lesa than 30 days from the date the notice ia rr.ailed within which Borrower may pay the aume declared due. If Bortower faila to pay such aums prior to the expiration of auch period, l.ender may, without further notice or demand on Horrower, 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 Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. LUCIE COUNTY, Florida, and Lender, the interest of the HousiAg Finance Authority of St. '~_' Lucie County, Florida, in said Agreement having been assigned to FLORIOA NATIONAL BANK OF MIAMI, Florida, as Trustee under a trust indenture from said Nousing 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 ,' L•ender 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 Nationat 6ank 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. ~ ~ bUOX~~ PA1;E~e7cJtJ ~. ~.. _~{ - . ,, ~~: ~-. -> .: -_. ..- = _ :. ~t