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Home My WebLink About21768. lASpectloo. I.ender may make or cawe b be mads rea~oneble entrie~ upon and iiupections oithe pmperty. pmvided that lend~ ~haU give Horrow~ notice prio~ to any ~uch in~pection specityin~ reaeoaabk cause therefor relsted to [.endei ~ it~terat in the Property. 9. Coademnatioa. The proceeds_of any award or claim tor damages, direct or coninquential, in connectioa with any oondemnation or other taking of the pmp~ty, or part thereof, or for conveyance in lieu of oondemnation. en hereby saai~ned and ~hall bs psid b Le~des. ln the eve~t of e total taking of the Propetty, the pmceed~ shall be applied to the sums eecured by this Mort~a~e, with the ~oe~s, if any. paid Lo Borrower. In the event of a partial taking of the Property. unleas Borrow~ aad I.ender otherwiee agroe ia writina. then shaU be appGed to the sums secured by thia Mortgage such ptoportio~ of the proceed~ as iu equel b thet pmportion which the amount of the sum~ aecured by this MoKgage immediateiy prior Lo the date ot taking beare to the fair market value af the Property immediaiely prior to the date ai taking, with the balanca oi the proceede paid to Borrower. If the Property is abandoned by Bormwer. or if, aRer notice by L.ender to Borrower that the oondemnor ot~ere to make an award or eetUe a claira for damages, Borrower fails to respond to I.ender within 30 days after the date such notice is mailed, Lender is authorised to collect and apply the proceeds, at Lender s option. either to restoration or repair of the property or to the suans secured by this Mortgage. Unlesa Lender and Bormwer otherwise agree in writing, any such application of proccede to principal shall not e:tend or postpone the due date of the monthly inetallme~ts re[erred to in paregraphs 1 snd 2 hereof or change the aauount of such inataUmenta. 10. Borrower Not Releaeed. Extension of the time for paym ~nt or modification of amortization of the sums eecured by thia Mortgege ~anted b~• Lender to any aucceaeor in intee~est of Borrower ahall not operate to releaae, in any manner, the liability of the original Borrower and Borrower'a eucceasore in inte~eet_ Lender ahall not be required to commence proc~eedinga againet euch succeeaor or nfuee to extend time for payment or otherwise m~xlify amortization otthe sume aecured by this Mortgage by mason of any demand made by theoriginal Borrower and f3orrowe~'s successors in interrst. I1. Forbearance by Lender Not a R-aiver. Any forbearance by l.ender in e:ercieing any right or remedy hereunder, or otherwiee afTorded by applicgble law, ahaU rtot be a waiver of or preclude the exerciae of any such right or remedy. The pmcurement of insurance or the payment of taxes os other liena or charges by Lender ahall not be a waiver of I.ender's right to aocelerate the maturity of the indebtednesa secured by thia Mortgage. 12 Remediee Cumuletive. Al) remediee provided in thie Mortgage are diatinct and cumulative to any other right or remedy under this Mortrage or aftorded by laa or equity. and may be e:ercise~l rnncurrently, independently or auccesaively. 13. Succesaore and Aseigne Bound; Joint and Several Liebility; Captions. The covenante and agreemente herein contained ehall bind, and the righta hereunder ahall inure to, the reapective eucceaeore and assigns of l.ender and Borrower, aubject to the pmviaiona of paragraph 17 hereof. All rnvenants and agreemenfs of Borrower ahall be joint and eeveral. The captions and headings of the paragrapha of this Mortgage are for covenience only and are not w be used to interpret or define the pmviaions hereof. 14. Notice. F.xcept tor a~y notice required under applicable law to be given in another manner, (a) any notice to Borrower provided [orin t hia Mortgage shall be given by maili ng auch notice by certified mai! addreeeed to Borrower at the Property Address or at euch other addreae as Borrower may designate by notice to Lender aa pmvided herein, and (b) any notice to Lender shall be given by certified mail, retiun receipt requested, to Lender e address atated herein or to auch other address as Lender may designate by notice to Borrower ae provided herein. Any notice provided for in this Mortgage sha11 be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law; Severability. Thia form of mortqage combines uniform rnvenants for national uee and non- uniform covenanta with limited variatione by jurisdiction to conetitute a uniform eecurity inetrument rnvering ceal property.'IT~is Mortgage shall be governed by the law of the juriediMion in which the Property ie located. In the event that any proviaion or clauae of thia Mortgage or the Note conflicts with applicable law, auch conAict shall not affect other proviaions of this Mortgage or the Note which can be given effect with~ut the rnnflicting pro~~aion, and to thia end the proviaions of the Mortgage and the Note are declared to be aeverable. 16. Bflrrower's Copy. Borrower ahall be furniahed a conformed oopy of the Note and of thia Mortgage at the time ot execution or after recordation hereof. 17. 'l~ansfer of the Property; Aseumption. If al! or any part of the Property or an intereet therein ie sold or traneferred by Borrower without Lender'e prior written consent, excluding (a) the creation of a lien or encumbrance subordinate to thia Mortgage, (b) the creation of a purc~ase money security intereat for houeehold appliancee, (c) a tranefer by devise. d~scent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three years or leas not rnntaining an option to purchae(e, I.ender may, at l.ender'e option, declare all the auma secureA by this Mortgage to be immediately due and payable. Lender shall have waived such oplion to accelerate J, prior to the eale or tranafer, Lender and the peraon to whom the Property is to be sold or tranaferred reach agreement in writing that the credit of euch person is satisfactory to Lender and that the interest payable on the suma secured by this Mortgage sh~-11 be at such rate as Lender shall request_ If I.ender has waived the option to accelerate provided in this paragraph 17, and if Borrower's auccesaor in interest hae e:ecuted a w-ritten aseumption a~treement accepted in writing by Ler.der. Lender shall release liorrower from all obl~gations underthia Mortgaqe and the \ ote. If Lender exercises auch option to accelerate, I.ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. ~ach notice ahal! provide a period of not less than 30days from thedate the notice is mailed within which Borrower may pay the sums declared ciue. If Borrower [ails to pay such aums prior to the expiration of auch period, I.ender may, without further notice or demand on ~3onower, ~nvoke any remedies permittecl by paragraoh 18 hermf. ;%~ 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been ~;~-~irocured 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 rgnaining 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 YA-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 agreerrent. 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.l7-A shall prevail. 8e~l~( JcJU PNr,Ez~ I'~