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A. Inepection. I.ende~ may make or cauee to be made reasonable entries upon and inspectiune of the propc rty, provided that I.ender ehal!
give Borrower notice prio~ to any such inepection epecifying reaeonable cnuue the~efor related to l.ender'e intereet i~ the Property.
9. Condemnation. The proceeda of any awatd or claim for damagee, direct or coneequential, in connection with any condemnation o~
other taking of the property, or part thereof, or for conveyance in lieu of condemnation, are hereby aseigned and ehal) be paid to L.e~der.
In the event of a total taking of the Property, the proceeds ahull be applird to the aume secured by this Mortgage, with the excese, if any,
paid to Borrower. Io the event of a paetial taking of the I'rvperty, unleeie Borrowe~ and [.ender otherwise agree in writing, there ehall be
applied to the aums aecured by thie Mortgage auch proportion of the proceeds us ia equallo that proportion which the amount of the euma
secured by thia Mortgage i-~ ediately prior lo the date of tuking beare to the fair market value of the Property immediately prior to the date of
tuking, with the balance ofZfie proceede paid to E3orrower.
If the Property ie abandoned by E;orrower, or if, nRer notice by I.ender to Borrower thnt the condemnor offers to make an award or aetde a
claim fo~ damagee, &urower iails to reapc~nd to I.ender within 30 days after the date auch notice ie mailed, Ixnder is authorized to collect and
apply the proceede, at I.ender'e option, either W reetoration or repair of the property or to the euma aecured by thie Mortgage.
lJnleee l.ender and F3orrower otherwiae aytme in writing, any auch application of proceeda to principal ehali not extend or poatpone the due
date of the monthly inatailments referred to in paragraphs 1 ana 2 hereof or change the amount of auch inetallmenl8.
10. E3orrower hot Releaeed. Extenaion of the time for paymant or modificution of amortizetion oithe sums aecured by thie Murtgage
Kranted by I.ender to any succeaxar in intereat of E3orn~wer shall not operate to release, in any manner, the liability of the original Borrower
and l3orro~er's auccessora in intereat. l.ender shxll not be required to commence proceedings against euch succPSaor ar refuse to extend time
for payment or otherv-•isr modify amortizatH» i of the +ums secur~l by this 11cxtKaKe by ma~m of any demand made by theoriginal Borrower
and Borrowet s successor:s in interc•st.
11. Forbearance by, Lender Not a Waiver. Any forbeararrce by (.ender in exerciaing any right or remedy hereundr:, or otherwise
affurded by applicable law, shall not be a waiver of or preciude the exemise of any such right or rnmeciy. The procurement ot inaurnnce or the
payment of taxes o~ other liena or charges by Lender ahall not be a waiver of l.ender's right to accelerate the maturity of the indebtedneas
secured by this Mortgage.
12. Remediee Cumulative. All remedies pro~rided in th:e Mortgage are disanct and cumulative to any other right or remedy under thie
1lortrage or afforded by law or equity, end may be exerciseri concurrently, independently or euccesaively.
13. Successors and Assigne Bound; Joint and Several Liability; Captione. The covenants and agreements herein contained ahall
bind, and the rights hrreunde~ ehall inure to, the reapective aucceasora and assigns of Lender and Iiorrower, subject to the proviaiune af
paragraph 17 hereof. All covenants and agreementa of E3orrower ahall be joint and aeveral. The captions and headings of the paragraphs of
this Mortgage are for covenience only and are not to be used to interpret or define the provisions hereof.
14. Notice. Except for any notice required under applicable law to be given in another manner, Ia1 an}~ notice to Borrower provided for in
this 111ortgaKe shall be ftiven hy mailinK such notice by certified mail addreased to Borrower at the Property Address or at such other addreae as
f3orroKer may desiKnate b>• notice to [.ender as provided hemin, and Ibl any notice Lo I.ender shall be Kiven by reRified mail, return receipt
requested, to I.ender's address stated herein or to such other address as I.ender may drsiKnate by notice to 13orrower ax provided herein. Any
nutice providrd for in this D1ort~aKe yhaU be dermcd to h:~~~e t-een Riven to Ei~~rrower or I.ender when given in the manner designated hemin.
15. lJniform :Nortgage; Governing Law; Severability. This form of mortgagec~:mbines uniform covenants for national useand non•
uniform covenantx v~~th limited variations by jurisdiction to constitute a uniform security instnneent ~Y,ve-in~ rea) property.l'hia Mortgaqe
shall be Koverned by the law of the jurisdiction in which the 1'raperiy is located. In the e~•ent that any pro~~ixiun or clause of this Mortgage or
thr Note conflicts w-ith applicable Iaw, such cuntlict shall not affect other pro~~sions uf this 11urtRaKe or the tiote which can be Riven effect
w-rthuut the n~ntlictinQ pm~•isiun, and to thia end the pru~•isions of the MortKaKe and the Note are declared to be severable.
16. Rarrower'e Copy. E3arrnwer ~hall be furnixhed a cunfortned copy of the hote and of this MortgaKe at the time of execution or xfter
recordation hereuf_
17. Transfer ot the Property: Aseumption. I! all or any part of the Yrc~perty or an interest therein is sold or traneferred by Borrower
withoat l.ender's priur w~rittrn consent, excludinK ia1 the creation of a lien or er.cumbrance subordinate tn this Mortgage, lb) the creation of a
purc!~use money security interest for househuld appli:~nces, Ic1 a transfer by devise, d•rscent or by operation of law upon the death of a joint
tenant or ld) the Krant of any leasehold intemst of three years or lestf nol containing an option to purchase, l.ender may, at l.ender's option,
declare all the sums securea by this MortKaRe to be immediately due and payable. t.ender ehall have waived surh option to ac. elerate if, prior
tu the sale or transfer, [.ender and the person tu w•hum the E'roperty is to be sold or transferred reach aQreement in writing that the credit of auch
person is satisfactory• to [xnder :ind that the interest payablc~ on the sums secured by this 11oriKaKe shall be at such rate as I.ender ahall
request. If 1.~•nder h.is w•aived the uptiun tu .icc~•lerxtr pn~cided in this paraKraph 17. and if }3orruw~rr's succe~;sur in interest has executed a
u-ritten assumption aKreement 3CCPPItV~ Ifl K'n( lil~, I)Y I A•fl(IC~, I.E RaP~ NFl'3II fPlease Rorruwer frum all ~~bI~K~~ti~,ns under this MortKage and the
~i U(P.
If Ixnder exercisrs such uption to accelrrate, lk~ndi~r shall mail Rorrc~wer nr,tice of acceleration in accordance with paraRraph 14 hereof.
~uch notice shall pro~•ide :~ peri~~c1 r~f not !f•ss than :i1 i days fri~m the date the nuticr is tnailtvl w•ithin which Rorrow•er may pa~• the suma declared
due. If Borrow•er fails tu pay such sums prior t~~ the expiratiun nf such prri~~d, (xnder may, w~ithuut further nutice or demand on E3orrov~er,
~nv~~ke any remeclies permitte~l b~~ paraKranh Ix herF~~f.
11-A. The proceeds of the loan evidenced by the promissory note secured hereby have been
procured by Lender pursuant to Loan Agreen~ent between NOUSING 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 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
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 default in which by Borrower
shall automatically accelerate all remaining unpaid installments remaining due under thP
promissory note secured hereby. A copy of the Loan Agreement is on file with Lender,
Fiousing 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.
f~mong other things, the loan guidelines in 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
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 of such an assumptio~, 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 par~ or parts of Covenant
17, supra, the terms of this Covenant 17-A shall prevail.
S.~
~::~~ 351 ~~~~~2~~35