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Home My WebLink About2767N. IespectioA. I.ender may make or cauee to be made ~easonable e~trih upon and inipectio~ of the propaty. pmvided th~t Lendes ~hall give Borrower notice prior to any such inspectioa specifying reawnebk causs thenfo~ related b Lender'~ iatered iu the Prope~qr. 9. Conden~n~tioa. The proceeds of any award or claim for damage~. direct or con~aquential. in connection wiW sny oondemnation or uther tsking of the property, or part thereof. or fotr conveyanoe in lieu o! oondemnation. an hereby awigned aad shall be paid to Leader. In the event of a total taking of the Property, the proceede shall be appUed to the sums secured by this M~ey~e, with We ezoes~, if any~ paid to Rorrawer. In the event of a partial taking of the Property. unless Borrower and I.endee otherwise agree in writia~~ there ~hall be applied to the sums secured by this Mortgage such pmportion of the proceeds aa ie equal tu that pmportion wrhich the amount of the suau secured by this Mortgage immediately prior to the dete of taking bears to the fair market value of the Property immedia Wy prior to the date o! taking, with the balanoa of the proc~ede paid to Borrower. If the Property is abandoned by Borrower, or if. aRer notice by Lender to Borrower that the ooademnor offe» to make aa awerd or ~ttle a claun for damages. Borrower fails to respond to Lender within 30 daye after the date auch notice is mailed. Lend~ is suthorised to collect and apply the proceeds, et Lender s option. either to restoretion or repair of the pmperty or to the aums secured by this Mortgage. Unleas I.ender aad Borrower otherwiee agree in writing, any such application of pmceedsto principal ahall not eutend or pwtpone thedue date of the monthly installme~ts referred to in paragrapha 1 asd 2 hereof or change the amount of such ia~talhmeats. 10. ~.lorrower Not Releaeed. Exteneion of the time fo: paym~nt or modification of atnortization of the aums aecured by this Mottgage grented by Lendet to any succeseor in interest of Borrower shall not operate to release, in any manner, the liability ot the original BorroweT and Borrower's auccesaora in intereat. I.ender shaq not be required to oommence pron.~edings against such succeasor or refuee to extend time for pe-yment o~ otherwise modify amortication otthe suma aecured by this Mortgage by reaeon of any demand made by the originai Borrower and E3ormv-J_r'g successors in intereat_ 11. Forbearance by I.ender Not a Waiver. My forbearance by Lender in exercieing any right or remedy hereunder, or otherwise afforded by applicable law. shall not be e waiver of or preclude the exerciee of any auch right or remedy. The prc~curement of insurance or the payment of t~ea or other liene or chargea by Lender ahall not be a waiver of Lender e right to aocelerate the maturity of the indebtedneas aecured by thie Mortgage. 12. Remedies Camuletive. All remedies provided in thie Mortgage are diatinct and cumulative to any other right or remedy under this Mort~-age or afforded by law~or equity, and may be e:erciee~i concurrently, independently or succeaeively. 13_ 3uccesaore and Aasigne Bound; Joint and Several Liability; Captione.'19~e rnvenante and agreements herein contained ahall bind, and the righte hereunder ahall inure to, the reepective auccessors and seaigna of Lender and Borrower, aubject to the provisiona of paragraph 17 hereof. All covenanta and agreemente of Borrower ehall be joint and eeveral. The captions and headinge of the paragrap6s of thia Martgage are for covenience only and are not lo be ueed to interpret or define the provieiona hereoL 14. Notice. Except for any notice required und~ applicable law to be given in another manner, (a) any notice to Borrower provided for in thia Mortgage ahall be given by mailing auch notice by certified mail addressed to Borrower at the Property Addresa or at such other addreea ae E3orrower may deaignate by notice to Lender ae provided herein, and (b) any notice to L.ender ahall be given by certified mail, return receipt requested, to Lender e address atated herein or to auch other addreea ae Lender may designate by notice to Borrower aa provided herein. My notice provided for in this Mortgage shaU be deemed to have been given to Borrower or Lender when given in the manner deaignated herein. 15. Uniform Mortgage; Governing I.aw; Severability. Thie form of mortgage combinea uniform oovenants for national use and non- uniform covenanta with limited variationa by juriadiction to wnatitute a uniform eecurity instrument onvering real property. 71iis Mortgage s!~all be governed by the law otthe juriadiction in which the Property is located. In the event that any provieion or clauae of thia Mortgage or the Note conflicts with applicable law, such conflict shall not affect other provisions of this Murtgage or the Note which can be given effect without the conflicting proviaion, and to this end the provieione of the Mortgage and the Note are declared to be eeverable. 16. Barrower'e Copy. Borrower ahall be [umiehed a conformed rnpy of the Note and otthie Mortgage at the time of execution or after recordation hereof. 17. 'IYanafer ot the Property; Aeeumption. If all or any part of the Property or an interest therein ia eold or traneferred by Borrower without Lender a prior written conaent, ezcluding (a1 ihe creation of a lien or encumbrance aubordinate to thie Mortgage, (b) the creation of a purchaee money security intereat for houeehold appliances, (c) a tranefer by deviae, deacent or by operation of law upon the death of a joint t~nant or tdi the Kri~nf uf r~ny ieasehoid intereat of three years or leas not oontaining an option to p~rcheae, Lender may, at Lender s opRion. declare all the suma secured by thie Mortgage to be immediately due and payable. Lender ahall have waived euch option to socelerate if, prior to the sale or transfer, Lender and the pereon to whom the Property is to be eold or tranaferred reach agreement in writing that thecredit of such person ia eatiafactory to [,ender and that the intereat payable on the auma secured by this Mortgage shall be at auch rate as Lender ehall request.lf Lender has waived the option to accelerate provided in thia paragraph 17, and if Borrower s aucceaeor in intereat has executed a vvritten aasumption agreement accepted in writing by Lender. Lender ahall release Borrowet from al) obligationa under this Mortgege and the 11ote. If Lender exerciaes such option to accelerate, I.ender ahal) mail E3otrower notice of acceleration in accordance with paragtaph 14 hereoL 5uch notice ahall provide a periad of not less than 30 days frum the date the notice is rr.ailed within which Borrower may pay the euma declared due. If Borrower fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on ~3orrower, ~nvoke any remedies 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 Housing Finance Authority of St. ~,~,• Lucie County, Florida, in said Agreement having been assigned to FLORIDA NATIONAL BANK OF ' ~•1IAMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of ~~~ r' ~, ~t. 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 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 parLs of Covenant 17, supra, the terms of this Covenant 17-A shall prevail. ~ ~ ~ ~. ,s .._.~ . ,.v --...., . ~... .. . ... ~~K B!;nK~~ PaGEz~jS ~ ~~