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Home My WebLink About0970 8. IA~pectloa. Lendes may make or cau~e to be ~ande reawnable entrie~ upon and iaspectiow of the pwperty. provided that Lendes ~haU ~ive Borro~rer notica ~ia~ bo atlY ~uch uupsctioA ~pacifyinB reasonable cauas therefo~ related to Lead~'~ u~tered in the Propesty. 9. Coademaatioa.'1Le proceed~ of aay awerd or claim for dama~a, direct a~ oon~e9uet?tia1. u? connectian with sq~? oondemnetion os other takiuB of the pmpsrty. os patt th~eof. or for conveyanoe in liea of oonde~nnation. ara hereby a~signed and ~hall bs psid to Lender. In the event of a toW lskinS oi the Property, the p~oceeds shaU bs applied to the aums ~ecured by this Most~a~e. with We esosn. if aew?. paid to Borrower. In the event ot s pattial taku?8 of the Propesty. unlas Borrowa9r and Lender otharrri~e aSe'ee ia writina~ there shsll be applied to the sums ~ecured by this Mort~age such pmportion of the proceed~ as i~ equal to that pmportion which the amount of the sums secured by thi~ Mortgage immediately prior to the date of teking bears b the fair market value of the Property immediately prior to the date of tahing~ with the balsnoa of the prooeeds paid to Borro~?er. If the Property is abandoned by Bormwer, or if, aRer notioe by Lend~ to Borrower that the coademnor offen to make an award or edtle a claim for damege~. Borroaer faila b rapond to Lender within 30 days aR,er the date auch notioe is mailed, Lender is authorized to coUect snd apply the pmoeed~. at Lende~r's option. either fo ratoration or repair of the property or to the sums secured by this Mortgage. Unkas Leador and Borrowe: otherwise aSree in wtiting~ any snch application of proceeds to principal shall aot eztend or poetpone the due date of the moAWly iaatallmeats refesred to ia peragraphs 1 and 2 hereof or changs We aaiount of anch it~atallments. 10. Borrower Not Releaeed. E:tension of the time for pay-m~nt or modification of amortisation of the aums secured by this Mortgege grani~.l b~ Lender to any euccessor in intereat of Borrower ehall not operate to release, in any menner. the liability of the original Borrower and &?rrower s nacoeaeora in intereaL. Lender shall not be required to wmmence proceedings againat such eucceaaor or refuee to e:tend time fot payment or otherwiee modify amortization of the suma secured by this Mortgage by reaeon of any demand made by the original Borrower and Borrower a aua~eseore in intereet. 11. Fotbear~noe by I.entter Not a Vllaiver. Any forbearance by i,ender in e:ercising any right or nmedy hereunder. or otherwise af~orded by applicable law. shaU not be a waiver of or preclude the exezcise of any euch right oY nmedy. The procurement of insurance or the payment of taxea or other Uene or charges by Lender ehaU not be a waiv~ of Lender'a right W aocelerate the maturity of the indebtedness aecured by this Mortgage. 12. Remediea Gtimulative. All remedies pmvided in this Mortgage an diatinct and cumulative to any other right or nmedy under thia Mortcage or afforded by law or equity. and may be e:aciee~i ooncurnndy. independently or suocessively. 13. 3uccessors and Assigns Bound; Joint sad 3everal I.iabtltty; Captions. The covenanta and agreemente herein contsined ahall bind. and ttie ~ights har~unda sR~Sl iaure io, ihe reepec~ive eucceeeors and asaigna of Lender and Borrower, eubject to the pmvisions of paragraph 1? hereof. All covenante and agoeements of Bon~ower ehall be joint and aeveral. The captions and headinge of ihe paragraphs of this Mortgage are for covenience only and are not to be uaed to interpret or define the provisione hereof. 14. Notice. E:cept for any notiee required under applicable law to be given in another manner. (a) any notice to Borrower pmvided for in this Mortgage ahall be given by mailing auch notice by artified mail addresaed to Borrower at the Property Addreas or at such other addrees ae Borrower may designate by notice to Lender aa provided herein, and (b) any notice to Lender ahall be given by certified mail. return seceipt requested, to L.ender's addreee atated herein or to auch other addreea aa Lender may deeignate by notice to Borrower ae pmvided herein. My notice pmvided for in thia Mortgage ahall be deemed to have been given to Borrower or Lender whea given in the manner designated herein. 15. Unlform Mortgage; Governing Law; 3everability.'Pl~is fortn of mottgage combinea uniform oovenante for national use and non- uniform covenanta with lunited variations by juriediction to conatitute a uniform security iAatrument oovering real pmperty.'lhia Mortgage ahall be governed by the law of the juriadiction in which the Property is located. In the event that any provieion or clauee of this Mottgage or the Note conflicta with applicable iaw, auch rnnllict ahall not affect other pmviaions of thie Mortgage or the Note which can be given effect without the oonflicting provieion, and to thie end the provieions of the Mortgage and the Note are declared to be aeverable. 16. Barrower's Copy. Borrower ahall be furniehed a rnnformed oopy of the Note and of this Mortgage at the time of e~cecution or after recordation hereof. 17.'I~ansfer of the Property; Aesumpdon. If all or any part of the Property or an interest iheteia ia eold or tranaferrPd by Borrower without Lender a grior written coneent, excluding (a) the creation of a lien or encumbrance eubordinate to thia Mortgage, (b) the creation of a purcbaee money eecurity intere8t for houeehold applianoes. (c) a transfer by devise, dc~cent or by operation of law upon the death of a joint tenanf, or (d) the grant of any leasehold interest of three yesra or leas not oontaining an option to purchaee, Lender may, at Lender'e option. declate all the eame eecurea by this Mortgage to be immediately due and payable. I,tnder ehall have waived euch option to sooelerate if. prior to the sale or transfer. Lender and the pereon to whom the Property is to be eold or traneferred reach agreetnent in writing that the creditof auch I'i person ia eatisfactory W I.ender and that the interest payable on the auma eec~ured by this Mortgage shall be at auch rate ae I.ender ahall request. If Lender has waived the option to accelerate provided in thie paregraph 17, and if Borrower a aucceasor in intereet haa executed a written aseumption agreement aocepted in writing by Lender, Lender ahall releane Borrower from all obligatione under this Mortgage and the Note_ If Lender exemses such option to acceierate, I.ender ahail mail Borrower notice of soceleration in accordance with paragraph U hereot ( Such natice ahall provide a period of not I~s than 30 days from the date the notice is ~siled within which Borrower may pay the aums declared ~ due. If Borrower faila to pay such suma prior to the eapiration of such period, Lender may, without further notice or demand on Eiorrow~, ! invoke any remediee permitted by paragraoh 18 hereof. ~ ~ 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been ~ procured by Lend~er pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY UF S7. 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 time 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 i 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, i 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: s i ~ "Mortgage loans, with the exception of FHA-insured or VA-guaranteed mortgage f 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 ar 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. I n~352 P~E ~g ~ , t