The URL can be used to link to this page

Home My WebLink About14008. Ioepection. I.ende~ may make or cause to be made rnasonable entriea upon and iospectiona of the properly, provided thet I.ender shall Kive Boe~rower notice prior to any euch inepection epecifying reaeonable cauee therefor related to I.ender's intereat i~ the Property. 9. Condomnatioa. The procecde of any award or ciaim for damages. dinrt or coneequential, in connection with any oondemnation or ~~ther taking of the property, or part thereof, or for cooveyance in lieu of condemnation, are hereby asaigned and shall be paid to Lender. lo the event of a total taking o! the Pmperty, the pn~ceede ehall be applied to the eums eecured by thie Mortgage, with the e:cess, if any, E,aid to Borrower. In the event of a pertial taking of the Property, unfeae Aorrower and l.ender otherwiee aRree in writing, there ehall be <<pplied to the aume secured bY thie Mortgage auch proportion of the proceede as ie equal to that proportion which the amount of the eums yecured by thia Mortgage immediately prior to the date of taking beara to the fair market value ofthe Piroperty immediately prior to the date of taking, with the balanca of the proceeds paid to i3orruwer. If the Property ie abandoned by Borrower, o~ if, after notice by I.ender to Borrower that the condemnor of~era b makean award or eetde a ~ laim for damagea, Horrower faila to reapond to L.ender within 30 daya after the date euch notice ie mailed, I.ender ie authorized to cotlect end apply the proceeda, at l.ender'e option, either to restoration or repair of the property or to the aume secured by thie Mortgage. Unleee Lender and Eiorrower utherwiae agree in writing, any such applicatio~ of proceede to principai ahall not extend or poatpone thedue d~~te of the monthly inatalimente referred to in paragraphe 1 and 2 he~eof or chan~e the amount of euch inetallments. l0. Borrower Not Relesaed. F.xtene~ion of the time for paym~~t or modification of amortization of the eums secured by this Morigage Kreinted b~/ I.ender ta uny aucceaso~ in intereat of Borrower ahail not operate k- mlease, in any manner, the li~bility of the original Borrower :~nd Borrower's succeasora in internst. [.ender shall not Fie cequired to commence procerclings againat auch succeseor or refuae toextend time i~ ~r pa~•ment or atherwise mod'efy amortization of thc sums srcurEd by this Nurtguge by reason of any demand made by the original Borrower .~nd 13urn-v-~rr's .u~ces~x~ in interest. 11. [~'orbearance hy Lender Not a Waiver. Any forbearance by [,ender in exercieing any right or remedy hernunder, or otherwise .~ ffurdeJ 1-y applicable ln-:•, ahaU not be a waiver of or preclude the exerciae of any auch right or remedy. The pmcurement of inaurance or the E,<iyment of :axeF or other liene or chargea by l.ender ahall not be a waiver of (.ender'e right to accelerate the maturity of the indebtedneae .~rured by thie Murtgage. 12. Remedies Cumulative. All remedies provided in thia Murtgage are distinct and cumulative to any other right or remedy under this ~iortcage or afforded by !aw or equity, and r,~ay be exercise~l concnrrently, independently or succeeaively. 13_ Successore and Aseigns Bound: Juint end Several Liability; Ceptione. The covenanta and agreementa herein contained ahall t~~nd, and the righta hereunder sha11 inure to, the reapective auccessora and aeeigna of Lender and Borrower, aubject to the provisiona of p~ir~graph 17 hrreof. All covenants and agreements of Borrower ahall be joint and several. The captionR and headinKs of the paragrapha of this Mortgage are for covenience only and arn not to be usrd to interpret or define the provisione hereof. 14. Notice. H:~cept for uny notice reyuired under applicable law to be given in another manner, la) any notice to E3arrower provided forin ~ h is :~lurtgage shall be given by mailinq such notice by certified mail addreased to Borrower at the Properiy Addrese or at auch other addreas as fi~ ~rrower may designate by notice to [.ender as provided herein, and (b) any nutice to l.ender ahali be given by certified mail, return receipt r~~~ uested, to I.ender's address stated hemin or to such olher addresx as l.ender may designate by notice to E3orrower as provided I~erein. Any n~ ~tice pro~lded for in this blortqage ahall be dermed tc- have been given to f3orruwer or Ixnder when given in the manner deaignated herein. 15. Unitorm Mortgage; Governing Lav-; Severability. This form otmortgagecombines uniform covenanta for natiunai use and non- uniform covenants K~th limited variations by jurisdiction to mnstitute a uniform security instrument covering rea! properiy. This Mortgage ~hall t-e Koverned by the law of the juriadiMiun in which the Property is located. In the event that any provision or clause of this Mortgage or the \ote contlic~s with applicable law, such conflirt shail not affect other provisions of this llturtgage or the Iv'ote which can be given effect •.+~thout the cronflicting provision, and to this end the provisions of the Afortgage and the Note are declared to:x severable. 16. Barrower's Copy. Rorruwer shal! be furnished a contormed copy of the Note and of this Mortgage at the time of execution or after n~c•urdation hereof. - 17. Tranefer of the Property: Assumption. If ali or any part of the Yroperty or an interest therein is sold or traneferred by Borrower ~.•ithout l.ender's prior written consent, excluding lal the creation of a fien or encumbrance subordinate to this Mortqage, (b) the creation of a purchase money security inierest for household appliances, fc) a transfer by devise, d~scent ot by operation of law upon the death of a joint ct•nant or ldl the qrant of any leasehold intereat of three yeara or lesa not containing an ~ption to purchase, Lender may, at Lender'a option, dcrlare aU the aums securecf by this 1ltortgage to be immediately due and payable. I.ender ahail have waived auch option to accelerate if, prior ,u the sale or transfer, I.enaer and the person to whom the F'roperty ia to be sold or transferrc~ri reach agreement in writing that the credit of such person is satisfactory to l.ender flnd that the interest pa~•able on lhe sums secured by this 1~lortgage shal) be at such rate as Ixnder shall rf~uest. If l.ender h~4 w•aived the optiun to accelerate ~rueided in thit~ paraRraph 17, and if Korrov-er's successor in interest has executed a w•rittrn assumption ati~rermrnt arcepted in writinK by I.rnder, I.endershall rele•+ae Rorrow•er from ali obliKations under this Mort~age and the \+~te. If I.ender exercises such option to accelerate. Ixnder 5ha11 mail Rorrower r,aticr. of acceleration in accordance with paragraph 14 hereof. ~u: h notice shall provide a period r,f not Irss than :in days frum thedate the notice is mailecl within which Borrower mav pay thesums declared ~iue. If Borrower fails to pa~• such sums priur to thc• expiration of such peri~d, ;.ender may, without furthP- notice or demand on liorrower, invoke any remedies permittcd by paraKraoh I`i hNrenC ~ i7-A. The proceeds of the loan evidenced by the promissory note secured hereby have been ~rocured 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, Flo~ida, in said Agreement having been assigned to FLORIDA NATIONAL BANK OF '~'IAMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of ~t. Lucie County, Florida. Under the terms of said Loan Agreement which expires at such tirne as all the Borxis 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 af the Loan Agreemer,t is on file with Lender, Housing Fir.ancP Authority of St. Lucie County, Florida, and Flor-ida National Bank of Miami, available for examination by any party during legal business hours of each business da~r. An~ong o~.her things, the loan guidelines in said agreement provide as follows: "Mortgage loans, with the exception of FHA-insured or VA-guaranteed mortgage ~ loans, rray not be assumed except by a person or family which would have been eligibie for a mortgage loan originaliy under these guidel ~nes for a term not to exceed the term of this agreement. The interest rate on the mortgage loan may be increased in t~e event of such an a~sumption, 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, su~ra, the terms of this Covenant 17-A shall pr~vail. F,~~~K 35~. ~~~~ 1396 ~