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Home My WebLink About21688. Irupectloa. I.ender auay make or cawe to be made reaaonable entries upon and in~pections of the pmperty. provided that Lender shell give Borrower notioe prior to any such in~pection specitying reasonebla cause therefor related to l.ender's intere~t in the Property. 9. Condemaatton.'11~e proc.~ee~ls of any sward or claim for damages. direct or co~~equential, in rnnnection with any ooadeaanatioa or otha takin~ o! the pmperty, or part thereof, or for rnnveyance in lieu oi oondemnation, are hereby sasigned and shall be paid to Lender. in the event of s btal taking of the Property. the proceede shall be epplied b the sums secured by thi~ Mort~age. with the ~oess, if any. paid b Borrower. In the event of s partial taking of the Property, urtleas Borrower and Lend~ otherwise agree in writing. there shall be applied to the sums secured by thie Mortgage such pmportion of the proceeds ai is equal to that pmportion which the amount of the aums eecured by thia Mo~tgage ia~medietely prior to the date o! taking bears to the fair market value of the Property immediately prior to the date of taking. with the balanc~ of the proceeds paid to Boreower. If !he Property is abando~ed by Borrower. or if. aRer notice by l.ender w Borrower that the oondemnur of~en to make an award or settle a claim for damages. Borrower fails to respond to Lender within 30 daye atter the date euch notice is mailed, Lender is authorized to coUect end apply the proceeds,_at Lender's option. either to resWration or repair of the pmperty or to the eums secured by this Mortgage. Unleas Lender and Borrower otherwise agree in writin8. anY such application of pmc~eeds b pTincipal ehall not e:tend or postpone thedue dute of the monthly inatallments referred to in paragraphs 1 and 2 hereof or change the amount of such inatallments. 10. Borrower Not Released. E:tenaion ot the time for paymant or modification of amortization of the sums aecured by thie Mortgage granted by [.e~der to any aucceaeor i~ interest of Eiorrower ahall not operate to release, in any manner, the liahility of the original Borrower and Borrower's aucceaeors in intereat_ I.e~der ehall not be required to commence proceedinge agaiost euch succeeeor or retuse to extend time for payment or otherwise modify amoriization of the aume secured by this MortgaRe by reason ot any demand made by theoriginal Borrower and Borrower's aucresaorx io intereat_ 11. Forbearanee by Lender Not a Waiver: Any forbearance by Lende~ in exercising any right or remedy hereunder, or otherwise nPforded by epplicable law, ahall not be a waiver of or preclude the exerciee of any euch right or ~medy. The pmcurement of ineurance or the payment of ta~cee or other liene or charges by Lender ehall not be a waiver of Lender'e right to accelerate the maturity of the indebtednese secured by this Mortgage. ~ l2 Remedles Camulative. All remedies provided in thie Morigage are dietinct and cumulative to any other right or remedy under thia Mortrage or afforded by law or equity, and may be e:erciee~i concurrently, independently or eucceeeively. 13_ Sacceesors and Assigae Bound; Joint and Several Liability; Captions. The rnvenanta and agreemente herein cantained ehall bind, and the righte hereunder shall inure to. the respective auccesaore and aseigns of Lender and Borrower, subject to the provieions of paragraph 17 hereof. All covenanta and agreemente of Bormwer ahall be joint and aeveral. The captiona and headinga of the paragraphe of thia Mortgage are for covenience only and are not to be ueed to interpret or define the proviaione hereof. 14. Notice. E:cept for aay notice required under applicable law to be given in another manner, la) any notice to F3orrower provided for in thia Mortgage shall begiven by mailing such notice by certi6ed mail addreaeed w Borrower at the Property Addreae or at euch other addrees as E3orrower roay deaignate by notice to Lender aa provided herein, and (b) any notice w I.ender ahall be given by certified mail, retum receipt requeated, to Lender's addrees atated herein or to auch other address as Lender may deaignate by notice to Borrower nn provided herein. Any notice pmvided for in this Mortgage shall be deemed to have been given to Borrower or l.ender when given in the menner deeignated herein. 15. Uniform Mortgage; Governing I.aw; Severability. Thia form of mortgage rnmbinea uniform covenants for national uae and non- uniform covenante with limited variations by jurisdiction to oonatitute a uniform eecurity inatrument covering real property_ Thie Mortgage shell be governed by the law of the jurisdiction in which the Property ie located. In the event that any provinion or clauee of thia b'[ortgage or the Note conflicta w~th applicable law, such conflict ahall not af1'ect other provisions of thie Murtgage or the Note which can be given effect without the conflicting provieion, and to this end the proviaiona of the Mortgage and the Note are declared to be aeverable. 16. Borrower's Copy. Borrower shall be farniahed a rnnformed copy of the Note and of thia Mortgaqe at the time of execution or after recordation hereof 17.'l~ansfer of t6e Property; Aseumption. I[ all or any part of the Property or an intereat therein ia eold or traneferred by Borrower without Lender's prior written consent, excluding (a) the creation of a{ien or enct~mbrance aubordinate to thie Mortgage,lb) the creation of a purchase money aecurity intereat for honeehold appliancea. (c) a tranefer by devise, deecent or by operation of law upon the death of a joint tenant or (d) the grant of any teaeehold intereat of three years or less not rnntaining an option to purchase, Lender may, at Lender's option, declare all the sums aecurea by this Mortgage to be immediately due and payable_ I.ender ehali have waived auch option to accelerate if, prior to the sale or tranefer, Lender and the person to whom the Property is to be sold or transfe~rred reach agreement in writing that the credit of such person ia satisfactory to [.ender and that the interest payable on the suma secured by thie Mortgage ahall be at auch rate as Lender ehall request_ If [.ender has waived the option to accelerate provided in this paragraph 17, and if E3orrower's aucceesor in intereat has e:ecated a w-ritten assumption agreement accepted in writing by I.ender, l.endershall release Borrower from all obligationa under this Mortgege and the ~ ote_ If I.ender exercises auch option to accelerate, Ixnder ahall mail 13orrower notice of acceleration in acco~dance with patagraph 14 hereof. 5uch notice ahall provide a period of not less than 30 days from the date the notice ie rr.ailed within which Borrower may pay the auma declared due. If Borrower fails to pay auch sums prior to the expiration of auch period, I.ender may, without further notice or demand on Eiorrower, invoke any remedies permitted by paragraoh !A hereof. ~ 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been i~`~~ procured by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. ~ r~ 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 ~~IIAMI, 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 ~st be adhered to by Lender and Borrower, any default in which by Borrower shall automatically accelerate all remaining unpaid installments ranaining 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 FNA-insured or VA-guaranteed mortgage loans, may not be assumed except by a persan 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. g~~x3~o pA~zsss _ ._~t4~