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Home My WebLink About14088. Inspectiun. I.ender may make or cause to be made renaonable entriee upon and inepectiune of the property, p~ovided that l.ender shall Kive Eiorrower notice prio~ to any euch inepection eperifying reasonable cauae there(or related to I~ender's intereet in the Property. 9. Condemnation. 'I~e pruceeds of any award or claim for damagee, direct or coneequential, in connection with any condemnation or uther takinR of the property, or part thereof, or for conve~ a~ce i~ lieu o[ condem~ation, are hereby aseigned and ehall be paid to l.ender. In the event of a total taking of the Property, the proceeda ehAll be applied to the eums aecured by this Mortgage, with the exceea, if any, paid to Iiorrower. !n the event of a pnrtial takinR of the Property, unleae Burrower and Ixnder otherw~ee agree in writing, there ahaU be :~pplied to the Buma secured by thie Mortgage auch proportion of the proceede as is equal to that proportion which the amount of the aume eecured by thie MortgaRe immediutely priorto the date of takinq beara t~ the fair market value of the Property immediatcly prior to thedate of taking, with the balancr of the proceeda paid to Borrower. ~ •, lf the Property ia abandoned Sy Borrower, or if, after notice by I.ender to Rorrower thal the condemnor of'fers W make an eward or aettle a claim for demages, Borrower faila to reepond tu l.ender within 30 days efter the date euch notice ie mailed, l.ender is authorized to collect and annly tha. nnwwla, wt I Pnrla-o nnNnn pi~1~a- f~ ~aofn~niinr nr rp~o~r n~!{~P ~mro~fV nr f~ fl~o anmg oer.•.d1 {.v ~{.:o M~a!~o~A • . ' - - _ - - .e..~..• Unleae l.ender and l3orrower otherwiee agree in writing, any auch application of ptoceeda to principal ahall not extend or poetpone thedue dvte of the monthly instt~llmenta refened to in paragrapha 1 and 2 hereof or change the amuunt of euch inetallmente. i0: Bvrruwar Not Released. F:xtenaion of the time for paym ~nt or mod~fication of amortizntion uf the euma secured hy this Mortgage ~ranted by I.ende~ to any auccesaor in intereat of f;ormwer ahall not ope~ate to releaxe, in any manner, the linbility of the original Borrower .~nd l3onower's succeasora in intemst. I.rnder ahnll not be required to rnmmence proccr.~lings aRainst such succee~sor or refuae to extend time ~~~r N.iyment or othe:~vise ~n~dify amort~z.~ti~n ot the sumti s~vred by this ~lortg.~Ke by ret-xon of nny demand m~-de by the original Borrower :~nd liorrower's succc~+un in interc~xt. I 1 Forbearance by Lender Not e 1~aiver. Any forbearancr by l.ender in exercieing any right or remedy he*eunder, or otherwiae :+ftorde.i b}• applicable law, ahell not be a waiver of or preclude the exemise of any such right or remedy. The pracurement of insurance or the p~yment of :axEe or other liena or charQes by Ixnder xhall not be a waiver of I.endar'a right to acceler~te the maturity of the indebtednesa ~ecured by this Mortgage. 12. Hemedies Cumulative. All remedies provided in thia Mortqage are diatinct and cumulative to any other riqht or remedy under thie 11ort~age or afforded by law or eyuity, and mey be exercierr~ concurrently, independently or euccessively. i:~. 8ucce~sora and Asaigne Bound; Joint and Severai Liability; Captione.l'he covenants and agreements herein conta~ned ahall I~ind, and the rights hereunder shall inure to, the resNective succeseors and aseigne of Lender and I3orrower, xubject to the proviaions of pxragraph 17 hereof. Ail cavenants and agreementa of Eiorrower shall be joint and sevrral. The captiona and headings of the paragraphs of this blortgage am for covenience oniy and are not to t-e userl to interpret or de6ne the proviaions hereoL ~ 14. Notice. Exmpt for any notice required under applicnbte law to be Kiven in another m:~nner, la) any notirn to f3orrower provided for in this MortgaKe shall t-e given by mailinK such notice by certified mail addressecl to 13orrower at the Property Addre~.sor at such other addreaa se li~Frower may desiRnate by notice tr- I.ender as pro~•idrd herein, and (bl any notice to l.ender shnil be Rivrn by certified mail, return receipt r~quested, tu l~ender's addre~x st~~ted herein or to auch other address as [xnder may drxignate by notice to Borrower ax provided herein. Any nutice provided for in this MortgaKe shall be deemed to have been Etive~ to E3orrower or I_~nder when given in the manner designated herein. I:i_ lJniform Nortgage; Governing l.aw; Severability. This form of mortgaKecombines uniform n~~enants for national useand non- uniform covenants with limited variations by jurisdiction to cunsti(ute a uniform security instrument cx,vering real proprrty. This 1liorigage ~ha~ll be Ko~erned by the law of the jurisdirtion in which the I'roperty is located. In the event that any provi~ion or clause of this Mortgage or the tiotr contiicts with applicable l.~w, such conflict sh~ll not affect uther provisions of this MortKaqe or the 1\ote which can t-e given effect w~thout the cY,nillcting pmvisiun, and to this rnd the pru~~isions of the Mortgage and the Note ure declared to !~e severable. l6. Barrower'e Copy. ~rruwer shall be furnished a conformed copy of the Noe,e and of this blortRaQe at tt~e time of execution or after recordation hrreot 1?. Tranefer of the Property; Asaumption. If ~11 or any Fart of the Property or an intereAt therein is sold or tranaferred by Rorrower ~•ithout I.ender's pri~r vvritten consent, excludinQ (a) the creation of a lien e,r encum6raRCP subordinate to this MorlgaKe,lb1 the creation of a purchase money security interest fi~r household applixnces, ic1 a transfer by devise, d:scent or b~• operation of lav- upon the death of a joint c~•nant or td) the grant of any leasehold interest of three years or less not rnntaininK an option to purchase, I.ender may, at l.ender's option, declare a!1 the sums secured by this Mortqage to be immediately due and payabte. Lender ahall have waived such option to accelerate if, prior _ tu the sale or transfer. (.ender and the peraon to whom the f'roperty is to be sold or tranaferred reach agreement in w~riting that the credit of auch person is satislac!ory to l.ender and that thF intercwt pavable un the sums secure~i by this 11~rtK.~Ke shall be at such raLe as l.ender shall reyaeat. If I.~•nder has veai~•ed the uption tu accf•1Fritr pr~~videcf in this paraKraph 1~, and i: Borrow•er's successor in interest has executed a ~T~ttrn assumption aKrerment acce}~trd in writinK b~~ I.ender, l~•nder shuU releasr Rorrower frum all ubliKations under this 11ort~age and the \ ute- ~ If lxnder exercises such uption to :+ci•e•I~•r:~;e, I.er.der sn:~ll mail Rorrow•er notice of acceleratiun in accordance with paraKraph i 4 hereof. ~uch notice shall pmvide a period oCnut less than :i~-da~~s frr~m the date the nuti~•e is rnailed w•ithin whicn Borrower may pav thesums declared riue. If Borrow•er fails to pa~ su~ h sums pri~~r tu the expiration ~rf si~ch perioci. Ixnder may, w•ith~~ut further notice or demand on f3orrower, ~nvoke ant• remedies permitteel ht• p:~ra~{raoh lK herrti~f. 17-A. The proceeds of the loan evide~ced by the promissory note secured hereby have been procured by Lender pursuant to Loan Agreernent betweer HOUSING FINANCE AUTHORITY OF ST. ,~ !UCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Authority of St. Lucie County, Florida, in said Agreen~ent havirg been assigned to FLORIDA NATIOP~AL BANK OF ,'~1IAMI, Florida, as Trustee under a trust indenture from said Housiiig Finance Authority of ~.~ St. Lucie County, Florida. Under the terr~s of said Loan Agreement which expires ~at such -~ time as a~l the Bonds shall have been fully paid or provision nade 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 ar~d Borrower, any default in which by Borrower shall automatically accelerate all remaining unpaid installments remainir.~ due under the promissory note secured hereby. A copy of the Loan Agreemer.t 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 exceptie-~ 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 ioan 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 eveni a irortgage loan is assumed, lender may not charge or impose an assumption fee in excess of one percent of the outstanding principal amount af the mortgage loan." If any part or parts of this Covenant 17-~ is in conflict with any part or parts of i,ovenant 17, supra, the terms of this Covenant 17-A shall prevail. -' `K 351 e~;E 1404 J i~