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Home My WebLink About0958 8. In~pectioa. Leader may make or eswe to be mede r~awnable ~trie~ upoa aad 'uupection~ of ths proparUr, provided that Leades shaq ~ive Borrower aotice prior to eny such inspection sp~ecifyinB reasoaable cause therefo~ relatal b Leade~'~ iwtere~t ia the ~ope~y. 8. Coademnadon.'l1~e pmceed~ of an~r awatd or claim for damage~. direct ~ consequwdal. ia oo~neetion wndi ai?Y ooademnati~ o~ oth~ talria~ of the property. or part thereof. or for coaveysnoe in Geu of oonde~naeaoa, are hazeby a.sigaed and shall bs p.id w La~?der. ln the event of a total taking of the Property, the pmceeds shall be applied b the sums ~ecared by this Mort~a`e, wi~ the ezoeM, ii aay, paid b Borrower. In the eveat of a partial talnng of We Pcope~y~ unlen Borrow~ and Lender otherwi~e a~ree ia writias. there ~baU be applied to the sums secured by this Mostgage such pcoportion of We proceeds as is equal tn that p~oportion which tbe amount oi the sums secured by this Mortgage immediately prior to the data of taking bean to the fa'u mastet value of We P~roparty imnnediatdy prioc to the date ot eaking. arith the balenea of the pmceeds paid to Borrower. If the Prop~ty ia abandoned by Borrower, or if. afler notioe by l.eader to Borrower that the oondemnor o~er~ b mske aa a~rard or ~ettle a claim for damages, Borrower fails to nspond to Lender within 30 days aft~er the daee euch aotice is ~nailed. Lende~r is authoriud t~o oolfect and apply the prooeeds. at Lendar a option, eithe~ to restoration or repair of the property os to We swns secund by this Mort~age. Unlees Lender and Bormwer otherwise ae?~ee in writing. sny such applicatioa of prooeeds to principal shall not eztend a~ postpone the due date of the monthly installmeats ceferred to in paragraphs 1 and 2 hereof or change the amount of such installmenta. 10. Borrower Not Released. E:teneion of the time for paymsnt or modification of amortization of the auaas secured by this Motigage granted by Lender to any aucceasor in intereat of Borrower shall not operate to release. in any maaner. the liability of the original Borrower and Borrower's ancceseora in interest Lender ahall not be required to oommence proceedings againat such suocessor or refuse to e:tend time fot payment or otherwise modify amortization of the sums secared by this Mortgage by reason of any demand made by the original Bormwer and Borrovwr s ena.-eeeoca in interest. 11. Forbearanoe by I:ender Not a Riaiver. My forbearance 6y L.ender in e:ercieing any right or remedy hereunder. or otherwise afforded by applieable lew. shall not be a waiver of or preclude the exercise of any auch right-or remedy.ll~e procnrament of insurance or the payment of ta~cea or other liens or charges by Lender ahall not be a waiver of I.ender s right to accelera4e the maturity of the indebtednesa secured by this Mortgage. 12 Remedies Cumulative. A11 remedies pmvided in this Mortgsge are disti~ct and camulative to any other right or remedy anda this Mortrage or afforded by lear or equity. and may be e:erciee~i concurrendy. indepe~deatly or auooeasively. 13 Succeseore and Aeaigns Bound; Joint and 3everal Liabillty; Captione.'11~e oovenants and agreement8 hecein oontainedahall bind. and the righte hereunder ahaU inure to. the respective aucceesors and asaigns of Lender and Borrower. subject to the provisions oi gszse~g!s 3? l:~r~f. A;4 rv~.-,~;.a and ~~euwe~its of 8orrowe~ snali oe joini and eevusi.'1'he captioaa and headin8s of the paregraphs of this Mortgage are for rnvenience only and are not to be ueed to intetpcet or de~ine the provisions hrreof. . 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower pmvided fot in this Mortgage shall be given by mailing such notice by certified mail addreae~.d to Borrower at the Property Address or at anch ~her address as Bormwer oaay deaignate by notice to I.ender as pmvided herein. and (b) any notice to Lender ahail be given by certified mail, redirn reoeipt requested. to Lender's addresa atated herein or to such other address as Lender may deaignate by notice to Borrow~r as provided he~in Any notice pmvided for in this Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner designated henit~. 15. Un~form ~ortgage; Governing I.aw; Severability. Thia form of mortgege combines uniform aovenants for national nse and non- uniform covenants with limited variations by jurisdiction to oonatitute a uniform aecurity instrument aovering teal property.'11~is Mortgage shall be governed by the law of the juriadiction in which the Property ia located. In the e~ent that any pmviRion or clau,ae of this Mortgage or the Note conflicte with applicable law, such confliM sha11 no! at~ect other provieiona of this Mortgage or the Note which can be given effect without the vonflicting provision, and to this end the proviaione of the Mortgage and the Note are declared to be severable. 1& Borrower'e Copy. Borrower ahall be furniahed a rnnformed aopy of the Note and of this Mortgage at the time of euecntion or after recordation hereof. ~ 17.'15ransfer of the Property; Assumption. If all or any part of the Property or an intereat therein ia sold or tranefere+ed by Borrowtr without Lender a prior written rnnsent, excluding (a) the crearion of a lien or encumbrance eubordinate to this Mortgage, (b) the crestion of a purchase money eecarity interest for houeehold appliances. (c) a tranefer by devise, deeoent or by opecation of law npon the death of a joint tenant or (d) the grant of any leasehold interest of three years or leae not oontaining an option to purchaee. I.ender may. at I.wder's option, ~ declare all the sums eecured by thiB Mortgage to be immediately due and payable. I.ender ehall have waived sach option to aooelerate if. prior to the sate or trsnafer, Lender and the peraon Lo whom the Property is to be aold or tranaferred reach agreement in writing that the credit of auch person is eatisfactory to I.ender and thet the interest payable on the auma secured by thia Mortgage ahall be at sach rate as I,a~der ahall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower's eucceseor in interest haa ~ecvted a written asaumption agreement accepted in writing by Lender, I.ender ahall release Borrower from aU obligations under this Mortgage and the i Note. - ~ If Lender ezercises auch option to accelerate, Lender shall mail Borrower notice of aoceleration in acoordance with paragraph 14 hereot ! Such notice ahall provide a period of not less than 30 days from thedate the notice ia ur.ailed within which Borrower may pay the auma dedared ` due. If Borrower fails to pay auch suma prior to the expiration of such prriod. I.ender may, without further notice oT demand on iiorro~ver. ~ invoke any remedies permitted by paragravh 18 hereof. 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 FLORIDA NATIONAL BANK OF MIAMI, Florida, as Trustee under a trust indenture from said Housina FinancP Aiithnrit~ ~f 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 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 in said agreement provide as follows: 1~ "Mortgage loans, with the exception of FHA-insured or VA-guaranteed mortgage ~ loans, may not be assumed except by a perso~ or family which would have been z , 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." ~ f his venant 17-A is in conflict with an art or parts of Covenant = ~ Ifanypartorpartso t Co YP ~ 17, supra, the terms of this Covenant 17-A shall prevail. ~ 3 i i - gpOK chJ~ PAGf - _ _ - _ ~ _ _ _