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Home My WebLink About0962 ' ~ . 8. Inspection. Lender may malce or cause to be made reawnable entries upon and 'uupectio~s of the properfy. provided that I.ender shaU ~ive Borrow~ notica prior to aqy ~uch uupecti~a sPecib??n~ reewueble causs tberefot relsted to Landsr'~ intere~t ia the Prope~?. 9. Condemaatlon. '14~e procesd~ of any award or clsim for damages. diiect o: oon~equeatisl. in connectiQa ~vith ~ay ooade~anatioA or other taking of the prope:tp. or Psrt thereot. os for coaveyanoe in lieu of oondamnation. ere hereby a~n~d ar?d shdl be paid to Iander. In Wa event of a total taking of the Property, the proceeds s1~aU be applied to the swns ~ecured by thi~ Mort~e~e. ~viW the eioea, if any. paid to Borrower. In the event of a partisl taking of the Property, unleea Borrower end Lendas othe~rise a~ree in writiat. there shali bs applied b the eums secared by this Most~a~e ~uch proportion of the prooeeds ai i~ equal to thaL proportion which the amount of We ~um~ ~ecvred by this Mortgage immediately prior to the date of taking bcars to the feir market value of the Propeity immediately prior to tbs date oi takin8. with the balana3 of We prooeeda Paid ~o Borrower. If the Property is abandoned by Borrower, or if. atter notioe by L~der to Borrower that the oondemn~ ogen to make aa aarard or setde a claim for damages. Borrower fails to respoad to Lender within 30 deys after the date such notioe is mailed. Lead~ ~ euthorized to ooUect aad apply the ptoceeds, at Lender's option. e~lhez to restoration or repair of the property or to the sams secured by this Mortgage. Unlesa I.endei and Borrower othrrwise agree in writiaaB, ai?Y auch application of proceeda to principal shall not e~ctead or postpone the due date of tha monthly inatallaneats nferred to it? patagraphs 1 and 2 hereof or change the amount of snch iastaUments. 10. Horrower Not Relea~ed. E:tension of the time for paymant or modification of amortisation of the auaus secured by this Mortgage granted by Leesder to any eucceasor in intereet of Borrower ahall not operete to nleaae. in any manner. the liability of the origina) Borrower i and Borrower's suoceseore in interea~ I.ender ehall not be required to oommence pmceedinga againat auch nuoceeaor or refuee tfl extend time for paymen; or othetwiee modify araortization of the auma secured by thie Mortgage by reason of any demand made by the original Borrower ~ and Borro.ver'a aumeb~ore in interest. . ! 1. Forbearanoe by Lander Not a Waiver. Any forbearance by Lender in e:ercising sny right os nmedy henunder. or ott~erwise afforded bv applicable law. ahall not be a waiver of or preclude the e:erciee of any auch right or remedy. The ptocnreiaen! of ineuranoe or the payment of taxee or other liene or charges by I.ender ehall not be a waiver of Lender's right to aocelerate the maturity of the indebtedneea eecuced by thia Mortgage. ~ 12 Remediea Cbmulative. All remedies provided in thia Mortgage are diatinct and cumulative to any other tight os remedy under this Mortrage or aftorded by law or equity. and may be ~erciee.~l ooncurrendy. independently or succeasively. 13. Successors and Aseigne Bound; Joint and 3everal Liability; Captions. The oovenanta and agreementa herein contained ahall bind. and the tight,s hereunder ahal! inure to. the re-~g~ct~ve gucc~~±*s ~d s_.s:e~t:s ssf Leader and ~3orrawes, snbj~.-~t to ilje ~rv+iisione of paragraph 17 hereof. All covenante and agreements of Borrower shall be joint and eeveral. The captioaa and headings of the paragrapha of this Mortgege are for covenience only and are not to be ueed to iaterpret or define the pmviaiona hereof. ~ 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower pmvided for in thia Mortgage ahall be given by inaiGng auch notice by ceitified mail eddreesed to Borrower atthe Property Addreas or at such other addseas as Borrower may designate by notice to Lender aa pmvided herein. and (b) aay notice to Lender shall be given by certified mail, return reoeipt requeated, to Lender a addrese atated herein or to auch other addreee as Lender may designate by notice b BoTrower as provided herein. My notice provided for in this Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner desigaeted herein. 15. Uniform Mortgage; Governing I.aw; Severability. This forn4 of mortgage combines uniformooveaants for national nae and non- uniform covenants with limited variationa by juriediction to oonstitute a uniform eecurity instrument oovering real property. 71~is Mortgage sha11 be governed by the law of the jurisdiction in which the Property ie located. In the event that any provision or clauae of this Mortgage or the Note conflicts with applicable law, auch contlict shall not aFfect other pmvisiona of this Mortgage or the Note which can be given effect without the eonflicting proviaion, and to this end the provieione of the Mortgage and the Note are declared to be severable. 16. Borrower's Copy. Borrower ahal) be furnished a conformed rnpy of the Note and of this Mottgage at the time of ezecution or after ~ recordation hereof. 17. 'I~anefer of t6e Property; Aas~mption. If all or any part of the Property or an interest therein ie sold or tranefrrred by Borrower without Lendefa prior written consent, eaccluding (a) the creation of a lien or encumbrance eubordinate to thie Mortgage, (b) the creation of a ~ purchase moaey eecurity interest for houeehold appliancee, (c) a tranafer by devise. dc;scent or by operation of law upon We death of a joiat _ tenant or (d) the grant of any leseehold interest of three years or leas not oontaining an option to pur~chase, I.ender may, at Lender's option, declare all the suma eecured by thie Mortgage to be immediately due and payable. I.endet ahatl have waived euch option to accelerate if, prior to the eale or transfer, Lender and the person to whom the Property ie to be aold or tranaferred reach agreement in writing that the cn~dit of such person is satisfactory to Lender and that ihe interest payable on the auma secured by thie Mortgage shall be at auch rate as Lender shall request. If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower e successor in intereet hae e:ecuted a written aasumption agreement accepted in writing by I.ender, Lender ahall releaee Borrower from all obligationa under this Mortgage and the Note. If [.ender e~cercises sach option to accelerate, Lender aha11 mail Borrower notice of acceleration in acoordance with paragraph 14 hereoL Such notice ahell provide a period of not less than 30 daya from the date the notice is ~r.ailed within which Borrower may pay the auma declared ~ e. If Borrower fails to pay auch aums priot to the expiration of such period, Lender may. without further notice or demand on ~iorrower. voke any remediea permiited by paraqraoh 18 hereof. ~ l7-A. The proceeds of the loan evidenced by the promissory note secured hereby have been y~~ procured by tender pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. ~i~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 M:~~;, Fl~rida, a~ Tr~;stc~ un~er a u ust i~cienti~re frc~n said tiousing Finance Authority o~ ~ 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- T 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 auto~atically accelerate all remaining unpaid installments remaining due under the i 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. ~ I 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 asswnption 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. go~ 352 PAGf ~1 :