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Home My WebLink About1031 8. Inepection. l.ender may make o~ cuuee to be made rexeonable entrira upon and inepectiona of the property, provided that I.ender ehall Kive BoROwer notice prior to any auch inepeMion epecifying reasun~bte caurie therefor related to l.ender'e i~temst in the Property. 9. Condemnation. 7'he proreeds of any award a~ claim for damagee, dirert or conaequential, in connection with any oondemnation or ui}~r( Lti=-~ilK ut ttlr Ntujirl~}t, ~i7 j-u1't ~}iriru~, JT ~ui iui~ticydliCc iIi iicii C.f C~Ti~cTii~dtiu~~. ~iic ~iEictij% aeeiKi~ca"~ ai~~ eiid~i uc Nai~ iu iKil 3e.. In the event of a total taking of the Property, the procerds ehall be applied k- the aums r~ecured by thie Mortgage, with the excess, if any, paid to f3orrower. In the event of a pa-tial taking of the I'mperty, unleeie Borrowe~ and l.ender othemiee agree in writing, there ehall be applied to the aume aecured by thie Mortgage such pmportion of the proceeda as is equal to that ptoportion which the amount of the eums .ziiurf~ ~Sf ttii3 ~1'vt i~il jti SRiT'iif~iu4£i) jiri~i iu tili ~uC(~ O~ ~ialniia j~ F)iA2'Fi ~f3 i~ti. ~ciir TuinZ. .'u.iiC 3~:s~iC a~Sv~iC2'Z"j ++TiIIia.uiu~.ii~ ~sivZ w ~ila: uuti: uf taking, with the balance of the pra~eede paid to Borrower. tf tne Property ia abandoned by l3orrower, or if, afte~ notice by Ixnder to f3orrower that the condemnor otfers to make pn award or settle a cluim for damagea, Bormwer fails to reapund to lxnder within :i0 daye after the datF auch notice ie mailed, l.ender ie authorized to collect and apply the proceeda, at l.ender'e option, either to restoration or repair of the pwperty or to the aume secured by this Mortgage. lJnlese l.ender and Borrower otherwise agree in writing, any such npplication of proceeda to principal ehall not extend or poatpone the due date of the monthly instAUmente referred to in paragraphs I and 2 hereof or change the amount of auch inatallments. 10. ~rrower l~iot Released. Extenaion ~-f the time [or paymtint or modification otamortization of the sums aerured by this Mortgage K-.~ntec! by l.ender to an}• succe~r in interes/ of Rorn,wer ahall not operate to rele~se, in nny manner, the liability of the oriEtinal t;orrawer und Borrower's successora in interest. l,ender shall not t~e reyuircd to rnmmrnce pruceedinQs aK.iinat xuch succee~or or reWae to extend time G~r payment ur othe~ ise m~~ify umurtizatiun of thr ,ums se~c~urtd M~ thie 11ortKaKe bp reasun nf any demund mude by thr oriKinal Korruwer :~nd iton.~we:'~: ~u~recKars in inten~t 11. Forbearance by Lender Not a Kaiver. Any forbeurxnce by l.ender in exerciaing nny right or remedy hereunder, orotherwiae affotded by npplicable law, shall not he n waiver uf or preclude the exercixe uf any such right or remecly. The procurement of insurance or the payment of taxes or other liens or charKes by I.ender shall not be a waiver of [.ender'a right U~ acceleratr the maturity of the indebtednesa secured by this ~fortgage. 12. Remediea Cumuletive. All mmediea pro~rided in thia Mortgage are distinct and cumulative to any other right or remedy under thie ~fortrage or atforded by law or equity, and may be exerciaerl concurrently, independently or eucceasively. 13. Suecesxors and Aeaigne Bound; Joint and Several Liability; Captione. The covenanta and aKreement~g herein contained ahall bind, and the righta hereundrr shAll inure to, the reupective successors and assiKna of I.ender and 13~rrower, subject to the pro~~isiona of paragraph 17 hereot All co~•enants and aQreements of Kormwer sh~ll be joint and aeveral. The captions and headinKs of the paragraphs of thie htortgage are for co~enience only and am not to be used to interpret or define the proviaiona hereof. 14. Notice. F.xcrpt for a~y noticc rc~c~uired under applicable law• to Fx Ki~en in nnnther manner,la- any notice to F~,rrower provided forin this blurtKaKe shxll be given by mailinK such notice by certified mail addrexsed to Rorrower at the Yroperty Address or at such other addresa as Korrower may desiKnate by notice to l.ender as pro~•ided herein, and Ibl any notice to I.ender shall be Kiven by certified mail, retum receipt rEr~uested, to I.ender's addreas st~~ted herein or to such other address as [.ender may desiKnate by notice to Borrower ax provided herein. Any n~~tim pro~~ded for in this htort{taKe shall be deemed to have i~een given to l3nrruwer or l.ender when given in the manner dexignated herein. 15. Unitorm Mort~age; Governing Law; Severability. This form of mortKaKecombines uniform c,uvenants for national useand non- uniform covenants Mith limitid ~•ariations by;urisdiction to rnnstitute a uniform security instrument covering real property. Thia MortRaqe shxll be Kovrrn~d by the law of the jurisdiction in w•hich the 1'roperty is locatcd. In the e~•ent that any pruvigi~~n or clause of thie 1~lortgage or the tiote conflicts w~th applicab!e lavr, such conflict shal) not ~~ffecl other provisions of this MuriRaKe ur the Kute w•hich cdn be Ri~en effect µ rthuut the cuntlictin~; pro~•isiun, and to this end thf~ pro~•isions of the 1tortKage and the 1\'ote are declared to be ~everable. ifi. Barrower'e Copy. Eiorrower shal) be fumichcd a conformeri cop~~ of the Nute and of this ~lortgaQe at the time of execution or after recurd~tion hereof. 17. Transfer of the Nroperty; Aseumption. If all or any part of the !'roperty or an interest therein is sold c~r tranaferred by Horrower K•ithout [,ender's prior written consent, excluding (a) the cmati~~n of a lien or rncumbrance ~ubordinate to this Mortgaqe, lb? the creation of a ~~umhase money security interest [or household appliancrs, (cl a iransfer by devise, d:scent or by operation of law upon the death of a joint t~•nant or ld 1 the grant of any le~tiehold interest of three yrars ur less not t~r~ntaining an option to purchase, I.ender may, at l.ender's option, declare all the sums securea by this NortgaKe to t~ immediat^_ly due and payable. I.ender ahall have waived such option to accelerate if, prior tu the sale or transfer, I.ender and the person tn w•hom thr E'ruperty is to be sold or transferred reach agreement in writing that the credit of such prrson is satisfactory to (.end~r and that the intrrr:;t payable un the sums secured by this MortKaKe shall be at such rate as l.ender ahall reyuest. If I.ender has w~ai~•rd the optiun t~, acc~•lerat~~ prnvidt~ in this par.iKraph 1 ~, and if Borrow•er's suctessor in interzxt has rxeruted a w•riuen assumption aKreer~rn! accepted in w•nt~nK b}~ [ A•ndf~r, I.~ nder shall release liurrower frum all ubliKatiuns under this ~tortQaKe and the \ ute. If l.rnder exercises such c~ption tn c+cc~rlerate. 1 A•nder shcJl mail I~~rn,wer not~ce of accelerati~m in accordance w•ith paraKraph 14 hereof. ~uch nutice shall pr~~~•ide a perirxl ~~f nut l~~s~ th:in :i~i d.~>•s frnm thrd.~tc~ thf• n~~ticr iti rr,ail~~l within v~hich Borrowrr ma~• p~~ thesums declared ~1ue. If Rorrow~r fails to pay such sums prinr to ti~~ expir:~unn ~~f such pen~~. (A•nder may, w•ithout further notice or demand on fSorrower, im~uke ant• remc•d~rs pt•rm~ltc~cl b~~ p:~r.~~raoh IK hF~rc•:.f. 17-A. The proceeds of the loan evidenced by tFe promissory note secured hereby have beep procured by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. LUCIE COU~TY, Florida, and Lender, the interest of the Housing Finance Authority of St. Lucie County, Florida, in said Agreement having been assigned to FLORIDA NRTIONA~. gANK OF MiAMT, rlnrida, as Trustee under a trust indenture frorn said Housing Finance Authority of ~t. Lucie County, Florida. Under the terrns 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 rerraining unpaid installments remaining due under the pr~missory 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, availabie for examination by any party during legal business hours of each bus~ness day. M~ong other things, the loan gujdelines 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 ayree- ment has terminated. In the event a mortgage loan is ass_umed, 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 ll-A is in conflict with any part or parts of Covenant 17, supra, the terms of this Covenant 17-A shall prevail. k - ~ ~,~~ 35~ P~~ ia30 ~~. ~_