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Home My WebLink About0925 8. Iaspection. I.ender may make or cawe to be made reawnable entries upon and inspections of the property. provided thet LeAder ~hall give Borrow~ notice prior to any such inspection ~pecitying ~easonable cause thenfor related to Lendei s interesL in the Property. 9. Co~demaatioa.'1l~e proc~eed~ of any award or claim for damagee. direct or consequential, in rnnaectioa with e~n,y oondemnation or other taking ot the properRy. or part thereof. or fo~ conveyance in lieu of oondemnation. an hereby assigned and ehall be paid to Lender. I~ the eve~t of e total taking of the Property, the proceeds shell be applied b the sume secured by this Mortgage. with the ex~ees, if any. paid w Borrower. I~ the event of a partial taking ot the Property, unleea Borrower and Leader otherwiee agree in writing. then shall be applied to the sums secured by this Mortgage such proportion of the pmceeds as is equal to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bears to the fair market velue of the Propetrty immtdiately prior to the date of taking. ~vith the balance oi the pe~oceeds paid to Borrower. If the Propetty is abandoned by Borrower, or if, aRer notice by Le~det to Borrower that the condemnor of~ers to make an award or setde a claim [or damages, Borrower fails to reepoad to I.ender within 30 daye after the date euch notice is mailed, Lender is authoriaed to collect and apply the proceeds, at Lender s option. either to restoration or repair of the property or to the sume secured by this Mortgage. Unless Le~der and Borrower otherwiee agree in writing, any auch application of penceeds to principal ehall not e:tend or postpone the due date of the montWy instaUmenta re[erred to in paragraphe 1 and 2 hereof or change the amount of euch installments. 10. Borrower Not Released. E:tenaion of the time tor paym=nt or modification of amortization of the eume eecured by thie Mortgage qranted by I,endet to any aucceasor in intereet of Borrower ahall not operate to release, in any manner, the liability of the original Borrower and Bormwer a aucceeaora in intereet. l.ender ahall not be required to commence proceedinge againat such auccesaor or refuse to extend time for payment or otherwise modify amortization of the suma secured by this Mortguge by reason of any demand made by the original Borrower and Borrower a successore in interest. 11. Forbearance by Leader Not a R?aiver. Any fo:bearance by Lender in exemieing any right or remedy hereunder, or otherwise afforded by appUcable law, ehall not be a waiver of or preclude the exerriee of any euch rigKt or remedy. The pmcurement oFineurance or the payment of ta~cea or other Gens or chargee by Lender ahall not be a waiver of Lender'e right Lo accelerate the maturity of the indebtedneae secured by this I?iortgage. ' ~ 12 Remedies Gtimulatlve. All remediea pmvided in this Mortgage are distinct and cumulative to any other right or remedy nnder this Mortrage or af~orded by law or equity, end may be exercise~i ooncurrendy, independendy or succeasively. 13_ Succeseore aad Assigns Bound; Joint and Severa! Liability; Captions. The rnvenant8 and agreementa herein contained ahall bind, and the righte hereunder ahall inure to, the reapective succeaeora and ase~gne oi L.ender and tiorrower, aubject to the provieions of paragraph 1? hereof. All covenante and agreementa of Borrower ehaU be joint and eeveral. The captiona and headinge of the paragrapha of thia Mortgage are for covenience only and are not to be ueed to interpret or define the provisiona hereof. 14. Notice. ~:cept [or any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in this Mortgage shall be given by mailing euch notice by certified mail addreased to Borrower at the Property Addresa or at auch ot}~er addreas an Borrower may deaignate by notice to Lender aa provided herein, and (b) any notice to I.ender ahall be given by certified mai1, reiurn receipt requeated, to Lender s addreas atated herein or to such other addreae ae Lender may designate by notice to Borrower ax provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner deaignated herein. 15. Uniform Mortgage; Governing Law; Severability. Thie form otmortgagecombinea uniform covenants for national uae and non- uniform covenan~s with limited variationa by juriadiction to constitute a uniform security inatrument covering real property. Thie Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provieion or clauae olthis Mortgage or the iVote conflicts with applicable law, such conflict ahall not atYect other proviaions of this M~rtgage or the Note which can be given effect without the conflicting provision, and to this end the provisiona of the Mortgage and the Note are declared to be severable. 16. Borrower'e Copy. Borrower shall be furniehed a conformed rnpy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17.11ranafer ot the Property; Aseumption. It all or any part of the Property or an interest therein ie eold or tranaferred by Borrower without irnder's prior written consent, excluding (a) the creation of a lien or encumbrance aubordinate to thie Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a tranafer by deviae, d~cent or by operation of law upon the death of e joint tenant or (d) the grant of any leasehold intereat of three years or leas not containing an option to purchase, Lender may, at I.ender's option, I'I declare aU the aums secured by this Mortgage to be immediately due and payable. Lender ahall have waived such option to accelerate if, prior to the sale or tranafer. Lender and the peraon to whoq~ the Property is to be aold or transferred reach agreement in writing that the credit of auch I person is satisfactory to Lender and that the interest payable on the suma secured by this Mortgage shall be at such rate as [.ender ehall i request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borsower s aucceasor in intereet haa executed a ! written assumption agteement accepted in writing by L.ender, Lenderahall release Borrower from all obligations underthie Mortgage and the ~i ote_ [f Lender e:ercises such option to accelerate, I.ender ahall mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice afiall provide a period of not less than 30 days from the date the notice ia mailed within which Borrower may pay the suma declared ~ due_ If Borrower fails to pay such sums prior to the e:piration of such period. [.ender may, without further notice or demand on Eiorrower, ~nvoke any remedies permitted by paragraoh 18 hereof. l7-A. The proceeds of the loan evidenced by the promissory note secured hereby have been procured by Lender pursuant to Loan Agree~nent-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 MIAMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of St. Lucie County, Florida. Under the terms of said Loan Agreement which expires at such *ime as all the Bonds shall have been fully paid or provision made for such payment pursu- i ~ 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 autanatically accelerate all remaining unpaid installments remaining due under the ~ promi ssory note secured hereby . A copy of the Loa n Agreement i s on f i 1 e wi th Lender, ~ Housing Finance Authority of St. Lucie Gounty, 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 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 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 17-A is in conflict with any part or parts of Covenant 17, supra, the terms of this Covenant 17-A shall prevail. ~ 5n~x352 ~~~E 924 ~ ~ , _ F