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A. Insp~ction. I.eoder may make or cauxe tu br made reneonable entriea upon and inepectiona of the property, provided that l.ender shall
Kive E3orrower notice prior tn any such inepection apecifying rei-eonable cauee therefo~ mlated to l.ende~'e intemat in the Property.
9. Condemnation. The p~<x~eede of any aw~rd or claim for damagee, direct or consequential, in connection with any condemoation or
~~ther taking of the propeKy, ur part thereof, or for conveyance in lieu of rondemnation, are hereby aaaigned ar~d ehall be paid W l~nder.
!n the event of a total txking of the Property, the proceeda ehall be applied to the aume secured by this Mortgnge, with the e:cees, if any,
;~aid to 8orrower. In the event of a partial taking uf the Ymperty, unleas Borruwer and l.ender otherv-ise agree in writing, there ahall be
;~pplied to the aume aecured by lhie Mortgage euch proportion af the proceede ae is eyual to t}:at proportion which the amount of the eums
~~ured by thie MortguKe immediately prior to the dAte of tukinK beara to the fair market value o[the F'roperty immediately prior to the date oi
~:lwi~~~, i&R~1 tfit t13iuliCa= :si i,ii µt"c,iazt38 iSalil W E~L•TLYIWCT'
If the E'mpeKy is abundon^d by I3orrower, or i[, aRer notice by l.ender to I3orrower thet the c~ndemnor oftere to make an award or eettle a
rlaim for damages, Borrower fails tu reapo~td to l.ender within 30 dnys nfter the date euch notice ie mailed, I.ender is authorized to coUect and
:+pply the proceeda, at l.ender's option, either to reetorntion ur repair of the property or to the auma secure~ by thie 14ortgage.
Unlrae I~ender and Borrower otherwiee agree in writing, any such application of proceeda tu principal shall not extend or fwetpe,ne the due
~!:-tr of the monthly inetallmente referred to in parngraphe 1 and 2 hereaf or change the amount ot such inetalimenta.
!0. F~rn~wer Not Releaded. Extenaiun uf the time for paym:nt or m~ification of amortizaiion of the auma securcd by this Mortgage
Kranted by t.ender to any succe~or in interest ot E~~rrower shall not operate to releaxe, in any manner, the liability of the original F3orrower
.ind tiorrower'x succesxora in intereat. I,ender shail not tx• rr~~uirecl tu cy,mmenct prr-cerdinKK aKninat auch succexaor or refuae to extend time
f~~r p,~yme~t or otherw•ise mudify amortiz.ition of tht~ ~um~: s~ti•und by this MurtguKc• by reu~un uf any dem.~nd m.+de by the uriK-nal Korruwer
:~nd f{~~rruwer's vuc~•esw~rs in intertst. . ~
1 l. Forbearance by Lender Not a Weive~. AnY forbrarance by l.ender in rxercising ~tny right or remedy herru~-der, or otherwiae
:+ffurded by applicable Inw, shall not be a waive~ of or Arecluifr thF exercise of f~ny such right or remcdy. The procurement of inaurance or ihe
pa,y ment of taxes or other liens or ~hargea by I.ender shail not b. a waiver of l.ender'a right to nccelerate the maturity of the indebtxdnesa
~rcured by thiR MortgaKe. ..
1'l. Remediee Cumula/ive. All remedira providrd in this Mortgnge are distinct and cumulative to any ~ther right or remedy under this
~tortrage or afforded by lave or equity, nnd may be exerc~se~i cuncu:rently, ~ndependently or aucceseively.
!';. Successory ansi assigns Bound; Joint and Severa! Lisbility; Captic-ns.'fhe cY,venanta and :~Areemen-_s herein contained ahal)
hind, ~nd the riKhta hemunder shall inure to, the reapective aucressors and uae-igne of l.ender and liorrower, Hubjrct to the proviaiune of
paragr~ph 17 hereuf. AU rnvennnts and agreementti uf Fiormwer Rhall he joint and several. The captions and hrudinKs of the aaragraphs of
this Mortgage are for covrnirnce only and are r~:t to he uscd tu interpret ur define the proviaiona hereuf.
1•1. Notice. F:xcept for nny nutice rcr~uirwl under applic.~!~li• i.~w to t-F Kiven i~ anuthe•r manne~r. ~ al any notice to fiarrower providc~ forin
this MortKaKr ~hall bc~ Kiven by mailinK wuch notice by certificrl m~ii addreased to Born~wer:~t the f'rc~perty Addreaxor at auch other addresa as
liorr~zwer ma~ d~wiKnate b~ notice to I.ender as providrd here~n, and Ib) any notice U~ I.ender shall he Riven by certificd mail, return receipt
rtquested, to (A•nder s eiddress statrd herein ur ta such other addreaq as l.ender may drsiKnate by potice to F3~rrower ax pr~vided herein. Any
nutice pru~•ideel fnr ~n this MortK:~ge ahaU be deemed tu ha~e been given to Fiurrower or I.e•nder when given in the manner der~ignated herein.
1:>. Unifotm MortgNge; Governing I.ew; Severability. 7'hes form of mortKaKecombinc~ uniform e-uvenunts for national useand non-
uniform co~en.ints with limitEY1 variation~ bp jurisdictic~n to cymstitute u unifurm security instrument a,verin~; re.il pruperty. This Mortgaqe
.hull tie Kovrrn~tl in• the law• uf thr jurisdi~•tiun in w•hii-h the 1'ruperty ~s 1~•atcd. In the e~~ent that any pro~•isinn or clau:+r <,f this Mortgage or
thc• Note cunilirtc w•ith applic.~ble law, surh ~•unfl~ct sh:-U not affec•t uther pruvitiions uf this ~turt~taKe or the tiote ~hich can be given effect
..~ith~,ut th~~ cuntlictinK pru~•i,iun, and tn thic end the pr~~~•isiuns of the Mortg:~Ke and the Ni~te xre declared to be severable.
iu. iiurruwr~ ~n i~upv. iHruuwe~ +u~ii~ Ut' iUtill~lttti a~ uuiunuc+j ~up~ ui i+ir :~uir auu ui ii~in :.iui i.Ka~r ai inr ii~ur ui ratr uiiuu u~ uitrr
rNCUrdation hercK~f.
I7_ 'I'ranxfer of the Property: Aseumption. (t all or an~ part of the f'roperty or an interrst therrin ia ac~ld or traneferred by i3orruwer
w•~thout I.endPr's prior w~ritten consent, excludinK In- the creatiun uf a lien or encumbrance sutwrdinate to thie MortKaKe, lbl the creation of a
purch•~se munr}• se-~•urity interest for household .~ppliancr:~, lc) a transfer by devise, d:xernt ~r by operation uf law u{x~n the death of a joint
!t~nant or ld- thr Krant of any leau•huld intereat of thrEr years ~~r less nul nmtaininK an option to purchxse, I.ender may, at I.ender'a option,
deriare all the sums srcured by this b1i~rtKaKr to Fw immediatel~ due and pa}r.~ble. I.fnder shall ha~ e waived such option t<~accelerateif, prior
t~e thesaleor trans[~r. [~ender and the per~on t.~ ~hum the 1'rnperty is to be sold ~~r transferrcd reach aKrrement in writing lhat thecredit ofsuch
p~~rsun is satitifactnry tu I.ender and that thf• intrrext pa~•.~i~l~• on the sums tif~curcti t-y thi~c ~1urtKaKe shall F-F at such ratr as I.ender shall
r~Y~ue:tit. If Le•nde~r h:-s w:~i.•cYi thr ~~ptinn tu :~ccrl~•ratr pru~•~drd in thiti paraKraph I~, .-nd ~f Rorruw•er's tiucr~s~~r in interest hax executed a
~~•ritten assumption .~Krnemrnt ,~cc~•pt~~d ~n w•nUn~; by Ixnder, I,c•ndrrtihtill rrlr.+xe Kurruw•er frum all ubliKiitiuns underthig M~irtKaKeand the
\ utr.
If Ixnder exerci5eti .uch option G~ n~c~•I~•r.~te~, I.~~nd~~r sh.~ll m:ul fturrower nut~ce uf accPleratiun tin accordance with paraKr:~ph 14 hereof.
tiuch nutice shall prov~de :~ peri~Ki ~~f nut 1•_•ss than : H ~ da}~. frnm the datr thr nu:i~•e• ic rr.a~l~~l w•ithin w•hi~h Kurruwer m:i>~ p:i~• the sums declared
due. If Rorrow•rr fails tu p;~y suc•h sumti prior t~~ thr e•xp~r:~t~~~n nf tiu~~h peri~~cf, 1 i•ndPr m:i~•, w•ithout further not~cf• or dc~mand on l3onuwer,
~nvoke ~~n}• rr~medic~ pi•rmittc~l by paraKraoh 1~ h~•re~~f.
17-A. The proceeds of the ioan evidenced by the promissory note secured hereby have been
procured by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY OF ST.
LUCIE COUP~TY, Florida, and Lender, the interest of the Housing Finance Authority of St.
~ucie County, Florida, in said Agreement having been assigned to FLORIDA NATIONAL BANK OF
"1IAMI, Florida, as Trustee under a trust indenture from said Nousing Finance Authority of
St. Lucie County, Florida. Under the terms of said Loan Agreement which expires at such
tirne as al~ the Bonds shall have been fully paid or provision made for such pa~nnent pursu-
ant to the Indenture, whichever shall be earlier, certain loan guidelines are impose~ 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 here5y. A copy of the Loan Agreement is on file with Lender,
Nausing 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 follov~s:
"Plortgage 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 oi such an assumption, but only after the agree-
ment has terrninated. In the event a mortgage loan i~ 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
11, su ra, the terms of this Covenant 17-A shall prevail.
~ ;~;~ 351 ~~ai,~ 2081