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Home My WebLink About2936H. Inepect ion. l.ender may make ur cuuKe to be made rexsonable entric~+ uEwn and inepectiuns of the property, provided lhat I.ende~ ehall Kive Borrower notice prior to any such inepection epec~fying maaonnble caune therefor related to l.ender's intereet in the Property. 9. Condemnation. The proceeds of uny award or claim for damagee, dire~/ or coneeqaential, in co~nection with any co~demnetion or ~~ther taking of the property, or part thereof, or for conveyance in tieu of condemnation, are hereby aesigned and sHalt be paid to I.ender. 1~ the event ot a total txking of the f'roperty, the proceeda ehnll be +~pplied to the aume scti-ured by thie Mortgage, with the exceas, if any, paid to Borrower. In the event of a partial taking of the Pn~perty, unleeie I3urruwer and l.ender otherwise agree in writing, there ehall be ~ipplied to the aums secured by thie Mortgage auch proportiun of the proceeda as ie equal to that proportion which the amount of the eums secured by this MortgaKe immediately prior to the d~te ot takinK beare k~ the fair market value of the Piroperty immediately prior to the date ot taking, with the balanca of the proceede paid to l3ormwer. If the Property is abandoned by F3orn~w•er, or if, after notice by t.ender to Borrower that the cundemnor oftera to make a~ award or eietde a claim for damagee, E3orrower fails k~ respond to I~ende~ within :i0 duyx after the date auch notice ia mailed, l.ender ie authotized to collect and <~pply the proceeda, at l.ender's optioo, either to restorntion or repair uf the pruperty or to the euma securcd by thie Morlqage. lTnlese l.ender and Bbrrower otherwise agree in writinR, any such application of proceeds to principal ahali not extend or poetpone the due dale of 1Ze monthly instalimenta referred to in paraELraphs 1 and Y hereof or change the amuunt of auch installmente. ~ 1(1. I3orrowe~ Not Releae-rd. Extensiun of the time foypuymrM or m~xlificatiun of ~mortizntion uf the sums secured by this Mortgage Kranlc~l by 1 rn~er to xn>• sucYr.~or in interesl of liorn~wer ehaill not operate to releuxe, in,~iny manner, the linbility of thr original Rorrower and }iortou•er's ~uccessurs in interest. I.ender shull nut ~-e~ reyuired to cY,mmrnce prcx~~jnKe aKvnat such sucersxor or refuse to extend time !or p.~ymrnt or utherw•ise mcKi~fy amurtiz:iti~~n ~~f th~• ,um~ sc~•ur~d hp this MortK:+~;r by reason of any demund m.ide Iw theoriKina! Rorrower :ill(~ I~~RUN'Nf S SLLCC(~ssur+ ~n interrst. 1 i. Fo~f:e s; u!ce by I.ender Not a 1L'Hiver. Any furl~•arani~ by l.end~r in exerciein,; any riKht or remtdy hereunder, or atherwise xfforded by applicable IAw, shall not be n w~ai~•rr uf ur pmcludr the exerrise af any such right or remcdy. The pr~xurement of insurance or the paymrni uf tt-xes or uther liena or charKes by I.ender shaU not he a vraiver of l.ender'A right to amelerute the maturity of the indebtedneas ~rcured bv thia MortgaKe. 1'L. Kemedire Cumulative. All remediea pro~~ided in thia MortgaKe are dietinct and cvmulative to any other riKht or remedy under this \tortrage or af[orded by lav- or equity, and may be exenise~i cuncurrently, independently or aucceasively. 13. Succesaors and AssiE(ne I3ound; Joint and Several Liability; Ceptions. The covenanta and aRreementu herein contained shall hind, and the riKhts hereunder shall inure to, the mspective successors and assigna of Ixnder and F3orrower, 9ubjcrt to the proviaione of paraqraph 17 hcrcof. All ~ovenants and aKreementx of I~muwer shall be joint and several. The captions and headinKe~ of the paraRraphe of this A'fortgatie .ire for coeenience only and arr nnt tu ix~ us~d to inter{~ret ~~r define the proviaions hereof. 1 a. Noeice. F:xce~c for a~~ notice required unde•r applicahle i:~w to t-e ~;ive~n in ~+nother ms~nnc•r, i:i- any n~ticp to li~,rruwer provided for in this 111ortRaKe sha111x Etiven by mailinK such notice b~• ~•erlified mnil addressed tn Rormwer at the F'ro{~riy AddresA or at such uther addreas as t~orrc~wer rriuy desiKnate by notice to I,ender as pro~•ided herein, and Ib1 any nc:tice to I.ender stiall be Ki~•en bY certifieci mail, return receipt re~yuestrd, to l.ender'c :iddress ctatrd herein or !o such other address as l.ender muy drsiKnate by nutice tu Fiorrower ux pro~~ded herein. Any notice pro~•ided for in this illortgage shall t-e dermcyl to have been given t~~ f~~rrow•er or 1~•nder when Ki~•en in the manner desi~iated herein. 1 ~. llniform 4lortgage; Governinq I.aw•; Srverabitity. This form of mortkaKe combines uniform c~~venants for national use and non- uniform cocenanta with limitcd ~•ariations by jurisdiction tu rnnstitute a uniform sec•urity instrument c~rverinti real property. This Mortgage shall be Ko~•erned by the law• of the jurisdiction in w•hich the Property is located. In the eeent that ..ny pro~•i~ion or clauxe uf this Alortgage or the `ute cunilicts N~th applic.~ble law, :~uch cunflict +hall not affect other provisinns uf this :~1urtKaKe ur the Nnte which can he Riven effert withuut the cY~nilictinK pro~•isi~~n, and to ~his end the pru~~isiuns of the MortKaQe and the tiote are decl:~red to lx severable. 16. Borrower'e Copy. ~rrower shall t-e fumisl~rd x conformrd copy of the Nnte and of this blortgaQe at the time of execution or after recurdation hereof_ i~. Transfer of the Property: Aasumption. If aU ur any part of the Property or an interrst therein is sold or tranaferred by B~rrower N•ithout t.end~r's prior w•ritten consent, excludinK ~al the creation o[a lien or encumbrance subordinate to this Mort~aKe, !b- the creation of a purchase mune~~ security interext for household appliancrs, Ic) a transfer by devise, d.scent or by operation uf law upon the death of a joint t~•nant or (dl the Krant of any leasehuld interest of three years ur less not cont~~ininK an uption to purchase, I.ender may, at I.ender'a option, dctilare all the sums securea by this ~tortKaKe to be immediately due and payable. I.ender shall have waived such option to accelerate if, prior to the sale or transfer, I.ender and the persun t~~ whum the f'ruperty is to he sold or transfened reach aKreement in w-riting that the credit of such {xrsun is satisfacton~ tu l.ender and that tht• intrre~l p.i~•abl~~ un the sums secvrrd b~• this ~1~~rtKa~;e shall bc at such rate ~ts I.ender shall rcv~ut•.t. If Ixndrr hii9 K'2i1~'fd thr uptinn tu ai•ct•!c•rati• pn~vidt•d in this para-~raph 17. :ind if Fiorrr~w•er's sLCCessor in interest has executed a w•nttrn ussumptiun aKrerment accepted in writinK hy 1.~•nder, I.~•ndrr ~hali re•lease Borruwer fr~~m all obliKa:iuns underthis MnrtQage and the \ ote. If Ixnder exrrcises surh npt~un to accrltK:iLY. I A~nder ctiall m:iil Ftorruwer notice of acceleratiun in accordance with paraKraph 14 hereof. iuch notice shall pr~~~•idF~ a peri~xf uf not Ir::~ t han :u ~~i.-~•s fn ~m t he d:itt• thr n~~ti~•e iti rr.ailt~l w~ithir. w•hich Rorruwer mxy pa~• the sums declared due. If R~~rrow•er fails to pay such sums pri~ir [u tht• expirati~~n ~~f such ~,rriod. L~•nder mx~•, w•ithout further notice or demand on liorrower, ~nc~~ke.1nt• remediev permittcd bt• par:~Kranh Ir+ hi•re~~f. 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been -, procured 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, Florida, in said Agreement having been assigned to FLQRIDA NATIONAL BANK OF MIAMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of St. Lueie County, Florida. Under the terms of said Loan Agreement which expires at such ~ time as all the Bonds shall hav_e been fully paid or provision made for such payrr~ent 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 Borrawer shall automatically accelerate all rer-~aining unpaid installments remaining due under the promissory 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, available for examination by any party during legal business hours of each business day. Among other things, the loan guidelines i~ 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 eliyible 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 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 ll-A is in conflict with any part or ~arts of Covenant 17, supra, the terms af this Covenant 17-A shall prevail. : -;~ 35~ Y~~E 2~31