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8. Inepection. (.ender may make or cauae to be made reaxoneble entric~u upon and inepectiona uf the prciperty, provided that l~nder shall
give F3ormwer notiir priur to any auch inspectiun epec~fying reaaunaDle caueie therrfo~ related to l.e~dei s intereet in the Property.
9. Condemnation. The p~«rcrla of any awanl or rlaim for damages, direct or conseyuential, in connectiu~ with any oondemnapon or
other tuking of the property, or part therno[, or for cooveyance in lieu of cundemnation, are hereby aseigned end ~hall be paid to lender.
In the event of a totnl taking of the I'roperty, the proc^eede shnll be applied to the sume secured by this Mortgage, with the excees, if any,
paid to fiorrower. In the event of a partial takinK of the Property, unlesa I3~rrawer and l.ender uthen~rieie agree in writinK, there ahall be
appliec~ tc- the sums secured by thie Mort~taKe au~h proportion of the pr~xerds as ia equal eo that proportion which the amuunt of the aume
~ecured by thie AlortgnKe immediately prior to the date of takinK l~are tu the fair market value of the f'roperiy immediately prior to thedate ot
itihiii~, M~itli Ihr GHiHt~~r ~l the p~~rr~ie pald lo ~iorTOwr~.
!f the Proprrty is ahandonecl by l3orrowe~, or if, after notice by I.ender te- Borrower that the condemnor uffers to make an award or settle a
cluim Cor damagea, Borrower faile to reapond to I~ender w~thin :i0 days after the date euch notice is mailed, I.ender is authorized u~ rollect and
.ipply the proc~ds, t~t I~ender's opti~n, either !~, restoration or rrpair of the property or to the aums aecured by this Murtgage.
Unlese I.ender and &~rrower uthenvise a~c e in writing, any such ~tpplication of proceeda to principal shall not extend or poetpone thedue
dute u: the monthl~ ina~allmenta referred to ir: pxrxgrapha 1 and '2 hereo[ or change the amuunt of auch inawllmente.
: ~~. Borr.,u rr Not Rcleased. Extrnsiun of the time for paym~ nt or modificatiun of amortization c~f the aums serured by this MortgaKe
Krantr;i b~• i.ender to :.n~• succr~.w,r in intrreat uf Fiormw•er xhall not operate to relrxse, in any m:~nner, the liability ot the original8crrower
aind IiorroN•er's succrssork in intrmst. I.endrr ~h~ill ni~t 1x• nvluired to commrncr pnx•erclinKs a-Kainst yuch succexxor nr refuse to extrnd time
for pa~•mer.! or uthem•is.~ m~Klif}• c-mortirati~~n uf th~• wois .ee•urtd by this ~tortKaKr by rr.~sun nf any demc~ncl m:idr by theuriKinal Burrower
ard Itnrruw~t~'•.~r.~r,surs u~ ir.terrct.
I!. corbearance by Lender Not a Weivrr. Any furbearanc:r b~• I.endFr in rxrccisinK any right or remedy hereunder, or othenv:se
~r~furded i~t• ~nplicable iHK', Shall not t~ a w~aivrr uf ur prrciudr Ihr rxerciar of .iny nuch right or remtdy. The procurement of insurance or the
Etiiymcnt uf tnxea o~ other liena or charKes by I.e~der xhuli not be a waiver ~~f I.ender's riKht tu accrlerate the maturit}• uf the indebterlneas
secured by this ~iort~age.
1 Y. Nemedies Cumulative. All n~medirs pruvided in thiR ltortgage am dietinct and cumulative to any other riKht ur remedy under thie
~lorir~Ke or affordrd by' IAK ~sr eyuity, n~d may be exercise~i cuncurrendy, independentiy or succesxively.
I:~. Succe~sore and AssiRns E3ound; Joini and Se~ eral I.iability; Ceptiunr~. T'~e covenanta and agrermeu~s herein contained ahali
hind, and the riKhts hereunder ahall inure to, the respective auccessors and assigne of l.ender and Eiorn-Ner, suhject to the provisiuna uf
paraKraph 17 herw,f. All covc~nan~~ and agreements uf l3orniwer shall 1-e joint and several. The captions and heudinKe of the paragrapha of
this MortKage are for rnvenience unh• and are not to t-r used to interpret or def ne the provisiuna herenf.
I 4. Notice. P:xct•pt fur any nuUi•p rrc~uireei un~1~•r applicahle ~aw tu be Ki~•en in anuthrr mann~r, ~.i- any notice tn liorruwer provided fnr in
t hic ~turtQaKe shall be Kiven b~• mailinK such notice M• certified mail ~ddre~scd to l;ormwer at the t'ruperty Address or at such other addreas as
liurruw~er may desiKnate bt• notice to l.ender ~+s pru~~idecl hen•in, and i bl any nuticr to l.ender shall tx Ki~~en b~ certificd mail, return receipt
rc~~uestc~cl, tu !A•nder's address s;at~rl hcrein or tu xuch other:iddresx as l.ender may drsiKnate by notice t~ 13urruwer ax provided herein. Any
n„tire pro~~idt~ci for in this ~turtK.~Kr sh:~l! t~r dremrd tu ha.~c t~ern given tu Fi~irruwer ur I.rnder when gi~•en in the manner designated herein.
1:~. 1'nitorm 1lortaage; G~~~erning Law; Severubility. This farm nf mortKaKecumbine_~ uni(urm n~eenanta fornatic~nal ueeand nun-
uniform covenants with limitrcl ~•~riat:ons M• jurisdi~•ti~~n to cY~nstitute a unifurm secuniy instrument a~~•erin{~ re~al pruperty. T-~is Mortgage
shall tx• K~~~•~•rntri by the lav-• ~~f the jurisdictiun in w•hich th~ l'rupert}• is I~x•ated. In th~~ e~•ent that nny pru~~i~iun or clauce of this 1~lurtgaQe or
the \~~ti• c~~nflicts N•ith ,-pplic:~blf• I:~K•, such c+,nflict shall s~~~t .iftect uther pru~-isiuns of this 11urtKa~;e or the Nutr ~hich can ~e Kiven effect
•a ~eh~~ut th.~ ~•ontliet:u~; pn,~•ision, ;,nd tu thi~ e•nd the pru~•isions uf the ~1ortKaKe :ind thc~ I\c~te ~~re d~~c•lared t~~ !-e secerable.
I fi_ Knrrower'a Cop}•. 1i~~rruw•er shal} be furnished a ~onfi~rtnE~c1 eY~py uf the \~~tc and of this MortKaKe at the time of execution or after
rrc~~rdxtiun hereof.
1~. 7'rensfer ot thc I'raperty; Ayyumption. If aU ur anv p~rt ~~f the I'ro~;erty ur an interest therrin is sold or tran~ferrrd by Fiorrower
~•ithuut 1,~ ndPr's prir,r w•ritten cunaent, PxcludinK i:~- thP creati~~n of a lien nr encumbrance suiwrdinate to this :~1urtKage, lb) the rreation of a
purchase mune~• securit~• interest for hou:~huld app:iancrs, ~c1 a!ransfer b}• de~•ise, d.uent or by operation pf law upon the death of a joint
t.•nant ur ~d- the Krant uf an~• leusrhold interr~ct uf thrrr years ur lrxs nut containi~K an option t~~ purchase,l.ender may, at I.ender's option,
rlecla~e all the sums s<~-ured b~• this ~turtkaKe t~~ Fx~ immediate•I~• dsr and pa~ able. I.ender shall haee waived such uption to acceleratr if, prior
tu the sale or trantifer, (.ender and the perti~,n G~ whum the I'roperty is?o F-e suld or trans(errrd reach aKreement in writinR that thecredit of such
petsun is ~atisfacu~n• G~ l.c•nder :ind th:~t thF` IRlrrc•~t payablt• ~~n the sumti ~t~vrr~! b~• this ~1nrtK.+Kf~ shal) be at vuch rate as I.ender shall
rryut~.t If Lende~r h:iv wxi~•~•d the uptii~n t~~ .ic~•rleratr pr~~~ ~ded ~n th~c par.iKr:~ph I ~. and :f Eiurn~w•er'ti tiuccrss.~r in intc•rest has executed a
~~riuen .issumptinn akrer~mf~nt accepte•d ~n w~ntink h~• (.e•ndi•r. l.c•nd~•rshall rc•lt:.,c• f:i~rruw~er frum all uhliK:~t~uns underthisMurtQaKeandthe
\utc. • . •
If l.ender exern~~•s su~-h opt~~~n tn a~•~-~d~•r:~tr, Lt•nd~r .h.Jl m:-tl iiorn~vice•r n~,Uce of ac<•elerat~on in accurd.incr w~th p.ira~,*raph 14 hereof.
~uch notice- shall prn~•idf~ a peri~xl ~~f n~rt l~~.. th:+n :i~ ~ days fn~m th~•dut~• thc• nnti~•c• ~s rr..~il~Y! w~ithin K•hich Rnrn~w•F~r m.~~• pa~• the sumsdeclered
~lue. If RorruK•er fails tn p;i~• su~•h ~um. pr~~r t~~ tht• t•xp~r:~t~~~n ~~f ~u~•h p~~ri~~d. I~•nder m:+~•. K•ithuut further nnt~c~~ ~~r drmand on f3nnower,
~n~~ukean~• remedit~ p~•rm~tt~Yi h~ par.~~;rauh 7x h~•nti~f.
li-A. The proceeds of the loan evidenced by the prornissory note secured hereby have been
procured by Lender pursuant to Loan Agreen+ent between HOUSING FINANCE AUTHORITY OF ST.
l_UCIE COUNTY, Florida, and Lender, the interest c~f the Housing Finance Ruthority of St.
. Lucie County, Florida, in said Agreement haviny been assigned to FLORIDA P~ATIONAL BANK OF
~~ MIAMI, Florida, as Trustee under a trust indenture from said Housing Financz Authority of
St. Lucie County, Florida. Under the terms of said Loan Agreen~ent 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 ~efault in which by Borrok~er
shail automatically accelerate all r2rraining unpaid installments remainir,g due under the
promissory note secured hereb~. A copy of the Loan Agreement is on file with Lender,
Housing Finance Authority of St. Lucie County, Florida, and Florida National Sank of Miami,
available tor examination by any party during legal business hours of each business day. '
Amon~ other things, the loan ~uidelines in said agreement provide as foilor~s:
"Flortgage loans, with ±he exception of FHP.-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 th2se 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-
rrent has terminatEd. In the event a mcrtgage loan is assumed, lender may not
chargp or impose an assumption~fee in excess of one percent of the outstanding
~rjnrirn,d~ ?m~JRt ~f ±~;~ ^:~C'`^y~^y° l~u'R.~~
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 thi s Covenant 17-A shal l{~revai 1.
~; 3.5.1 ~ ~~~17:35