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Home My WebLink About1956 8. Ia~peMion. Lender may make or cause fo be made reawnable eatries upon a~d inapections of the pmperty. pmvided that Lender shall give Borrower notice prior to sny such inepectio~ sparifying reasonable ceuee therefor related to I.cnder i interest in !he Property: 9. Condemnatioa.'t~e pmceeds of any award or claim for daiaages, direM os coasequential. in connection with any oondemnation or other taking of the pmperty, or part thereof, or for conveyance in Ueu of oondemnation, are hereby assigned sAd sbe11 be paid b[.endet. In the event o! a total taking oi the Pmperty. the proceeds shal! be appliod to the suma socured by this Mortgege, with the e:ceea. if any. paid to Borrower. In the event of a partial taking of the Pn~perty. unleea Borrower and l.end~ otheswiee agree in writing, there ahall be epplied to the sums secured by this Mortgage such pmportion of the proceeds as ia equel to that propori:on which the amount of the sums eccured by this Mortgage immediately prior to the date of taking bears to the fair martet value of the Property immediately prior to thedate of taki~g. with the balance of the pmceede paid b Borrower. If the Property ia abandoned by Borrower. or if. aRer nodce by Lender to Borrower that the oondemnor otfers to make an award or setde a claim for damages, Borrower fails to respond to I.ender within 30 days after the date euch notice ie mailed. Lender is authorized to collect end apply the proceeds, at I.ender s optiun. eithet to reetoretion os repair of the pmperty or to the sums aecured by this Mortgage. Unlees L.ender and Borrower otherwiee agree in writing, any auch application of proceede to principal ahall not extend or postpone the due date of the monthly inetalimente referred to in paragraphs 1 and 2 hereof or change the amount of auch iastaWnents. l0. 8orrower Not ReleaBed. Extenaion of the time for paymant or modification of amortization of the suma secured by thie Mortgage Qrante~.~ by I.ender tu any aucceaeor in intereat of I3~,rrower ahall not operate to release. in any manner, the liability of the origina) Borrower and ~3orrowei s auccessore in interest. l.ender ahall not be required to commence proceedings againet auch auereseor or refuae to eztend time for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Borrower and f~rrower e succeaeors in interest. 1 l. ~'orbearance by I.ender Not a N-eiver. Any forbearance by Lender in exerciaing any right or remedy hereunder, or otherwise attbrded by applicable law. ahall not be n waiver of or preclude the exerciae of any such right or remedy. The pmcnrement of inaurance or the pay ment of taxes ur other liens or chargee by Lender ahall not be a waiver of I.ender a right to eccelerate the maturity of the indebtedness aecured by thts Mortgage. , 12 Remediea Cumulative. All remediee provided in thie Mortgage are dietinct and cumulative to any other right or remedy under thia Morti-age or aftorded by law or equity, and may be exerciee.i ooncurmntly. independenUy or suocesaively. 13. Succeseors and Aeaigne Bound; Joint and Several Liability; Captiona. The covenante and agreementa herein rnntained ehall ~ind, and the righte herennder shsit inure to. the reepective suci.~eaeore and seeigns of I.ender and Borrower, eubject to the proviaiona of paragraph 17 hereof. All covenants and a~eementa of Borrower sha1) be joint and eeveral. The captiona and headinga of the paraqrepha of thie Mortgage are [or covenience only and are not to be ueed to interpret or define the provieione hereof. 14. Notice. F.xcept for aay notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in thia Mortgage ehall be given by mailing auch notice by certified mail addreeeed to Rorrower at the Property Addreae or at such other addreas as I3orrower may deeiE[nate by notice to L,ender as provided herein, and (b) any notice to Lender shall be given by certified mail. return receipt reyuested, to l.endei a addreas stated herein or to auch other addreae as Lender may deaignate bv notice to Borrower ax provided herein. My notice provided tor in thia Mortgage ahall be deemed to ha~ e been given to Borrower or l.ender when given in the manner deaignated herein. 15. Uniform Mortgege; Governing I.aw; Severability. Thia torm ef mortgagecombinea uniform covenants for national uee and non- uniform covenants w~th limited variations by juriadiction to rnnatitute a uniform security instrument cuvering real property.'l~ia Mortgage shall be govemed by the law of the jurisdiction in which the Property ia locattd. In the event that any pruvision or clause of this 111ortgage or the Note conflicts with applicable law, auch conflict ahall not affect other provisions of this Mortgage or the Note which can be given effect without the rnnflicting proviaion, and to this end the provisions of the Mortgaqe and the Note are declared to be aevereble. 16: Borrower'e Copy. Borrower ahall be furniahed a conformed oopy of the Note and otthia Mortgage at the time of execution or after recordation hereof. 1?_ Transfer ot the Property; Aeeumption. I[ all or any part of the Property or an intereHt therein ia sold or tranaferred by Borrower without Lender a prior written ronsent, excluding (a) the creation of a lien or encumbrance aubordinate to thia blortgage, (b) the creution of a purc!~ase money serurity interest for houaehold appliancea, (c) a tranafer by deviee, d~scent or by operation of law upon the death of a joint tenant or (d) the qrant of any teasehold internat of three yeare or lesa not rnntaining an optibn to purchaee, l.ender may, at Lender a option, declarn all the suma secured by this Mortgage to be immediately due and payable. [xnder ahall have waived euch option to accelerate if, prior to the sale or tranafer, Lender and the peraon to whom the Property is to be sold or transferred reach agreement in writing that the credit of such person is eatisfactory to Lender and that the interest payuble on the aums secured by this Mortgage shall be at such rate as Lender ahall request_ If Ixnder has waived the option to accelerate provided in this paragraph 17, and if Borrovrer s successor in interest hae executed a w~ritten assumption attreement acceoted in w~ritin¢ by I.PndPr, l~ndP~Rhali rPlPawP Ro~._-wPr fr~m All „F,Yga-~~.,o.~.,~~.~hL M.,.-~~ o~.~a f{~e :V OLf. • If l.ender exercisea auch option to acceierate, l.ender shall mail Rorrower notice of acceleration in accordance with paragraph 14 hereof. 5uch notice shall provide a period of not less than 30day s from thedate the notice is maiied within which Borrower may pay the suma declared due. I[ Borrower fails to pay auch aums prior to the expiration of such period, I.ender may, without further notice or demand on fiorrower, ~nvoke any remedies permiited by paragra~h 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 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 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. Among other things, the loan guideaines in said agreeir~ent 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. r~x~~ 6~ ~~L~~954