The URL can be used to link to this page

Home My WebLink About0974 8. Inspection. I.~der au~y mal~e or ca~us to be made rsawnable eatrie~ upoa end iaspectiona of the p+uperty~ provided Wat Lend~z ~haU give Borrower aotios ptior Lo aqy wch inspectioa ~peci~yin~ reawAable cawe therefor related to I.erder'~ intere~t in tbe Propeztsr. 9. Condema~tlon.'t1~s proceeds of eny ~~rard or claim for dama~e~, direct or coiueq~ential. in oonnection with any condemaatiun ~ othe~ talrin~ of the pmperl;y. or pRrt Wereoi~ or for oonveyance in Geu oi oondannaaon. ars hereby a~d~r~sd aad ~ball be ~id to I.snd~. Ia the eveat of a bW tskin~ of tbe Property. ths prooeed~ ~haU be applied to the ~um~ ~ecured by thi~ Mozt~a~e. wiW tbe ssoew, if any. paid to Horrower. In We event ot a partial t~in~ of We Property. unlaw Borrowe~ sad Lender otherwi~s a~ree in writin~~ tbers ~hall bs applied to the an~us secured by thi~ Morf~age wch proportion of the prooeed~ aa ia equsl to that proporfion w}?ich the amount oi the sum~ secured by this Mort~age immediately prior to the dats of taking bears to the fair martet value of the Propeity immediate~y prior to tbe date ot takin~. with the balanoa of the prooeeds paid to Borro~rer. If the Propetty is ebendoned by Borrower, or if~ aRer aotioe by Lender b Borrower thst the ooademnor ogen to make an award or settle a ciaim for demages, Borrower faila to respond to Leader withia 30 dsys aft~ the date such notioe is mailed. Lender ii authorir~ed to collect aad apply the prooeeds. at Leadar'~ option~ eithe: to re~toration or repair of !he ptoperty o: to the sniw ~ec~red by thi~ Mort~a~e. Ualess I.ender end Borrower otha~vise agree in writing. any euch applicalion of prooeeda to priacipeJ shall aot a:tend or postpone the due date of the monthly uutallments referrecl to in paragraphs 1 and 2 hereof or change We amount oi such instellmenta. 10. Borrower Not Relea~ed. E~ension of the time for paymant or modi5cation of amoitiaation of the eums secured by this Morigage granted by I.eader to any successor in intcrest of Borrower ahall not operate to release. in any manner, the liability of the original Borrower ~ and Borrowa's sucassors in iateresi Lender ehall not be required to oommence prooeedings againat such suocessor or nfuse to e:tend time for payment or otherwise modify amortization of the aums aecured by thie Mortgage by reason of any demand made by the original Borrower and Borrower'e svcceseors in intereet. 11. Forbearanoe by I.ender Not a R?siver. My forbearance by Lender in euee+cieing aay tight or remedy henuader. or oLherwise afforded ~y applicable 1aw. shall not be a waiver of or preclude the exerciee of any such right or nmedy. The procur~nent of insurance or We payment of ta:es or other Uene or charges by Lender shall aot be a waiver oi Lender~s right to accelerste the meturity of the indebtednas secured by thie Mortgage. 12 Remedies Gbmulative. Al! remediee provided in this Mortgage an distinct snd cumulative to any other right or nmedy nnder this Mortgage or afforded by law or equity. 8IId ~14}I bE EZE~tC1DE~ OOAC11Z1~QA~IS?. independently or suooessively. 13. 3uocessors and Assigns Bound; Joint and 3everal Liability; Caption~. The oovenants and agreemente herein oontained shell ~ind. and the rights hereunde~ shal! inun to. the r~tive auccessors aad essigns of Lender sad Borrovrer. subject to tha pmvisions af paragraph 17 hereof. All oovenants and agreementa of Borrower shall be joint and sevetal. The captiona and headinge of the paragraphs of this Mortgage are for oovenience only and are cwt to be used to interpret or define the provisions hereof. 14. Notice. Except for any notice nquired under applicable law to be given in another manner. (a) any notice to Borrower provided for in thie Mortgage ahall be given by mailing such notioe by certified mail addreased to Borrower at the Property Addrese or at such other address as Borrower may designate by notice to Lender aa provided herein. end (b) any notice to Lender shall be given bv certi5ed mail. return reoeipt requeated, to I.eudei s addrese stated herein or to such other addresa as I.ender may designate by notice b Borrower aa provided herein. My notice pmvided for in this Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner designated hereia. 15. Uniform Mortgage; Governing Isw; 3everability. Thie form of mortgage combinea uniform oove~anta for nationel use and aon- uniform oovenanta with limited variationa by jurisdiction to oonstitute a uniform eecarity instrunient oovering real property. Thie 11~ortgage ahaU be govemed by the law of the jnriadiction in which the Pmperty is located. In the event that any provieion or clanee of this Mortgage or the Note conilicts with applicable law, euch cot~ilict ehall not affect other pmvieioas of this Mortgage or the Note which can be givea effect withou! the conflicting proviaion, and to thie end the provisions of the Mortgage and the Note are declared to be severable. 16. Borrower's Copy. Bormwer ahall be farniehed a conforaned aopy of the Note aad of thia Mortgage at the time of ezecution or after recordation hereof. 17.1~ansfer of the Property; Assumpdon. If all or any part of the Property or an interest therein is wld or transferred by Borrower ' without Lendefs prior written coneen~ eududiug (a) the creation of a lien or encnmbrance subordinate to this Mortgage. (b) the creation of a purchaee money sec~rity in~t for houeehold applianoee, (c) a transfer by devise, deacent or by operation of law upon the death of a joint I tenant or (d) the grant of any leasehold ia~t of three years or leas not oontaining an option to purchase, Lender may. at Leade~s option, f declare all the auma secured by this Mortgage to be immediately due and payable. I.endez shall have waived ench option to aocelerate if. prior ; to the sale or tranafer. Lender and the person to whom the Property ia to be sold or tranaferred reach agrcement in writing that the credit of snch ! person ia eatiafactory to I.ender and that the intereet payable on the sums aecured by this Mortgage ahall be at auch rate ae I.eader shall request. If Lender has waived the option to accelerate pmvided in this parsgraph 17, and if Borrower's suecessor in interest has ~ecuted a 'I written aeaumption agreement aeoepted in writing by Lender, Lender ehall release Borrower from all obligationa under this Mortgage and the i Note. E If Ixndex ezescisea such optian La ac~lerate, Lender shal! mail Borraa;er notice of ac.rleration in ac~ardance wiih p~agea.ph 24 hereoL Such notice ahell provide a period of not less than 30 days from the date the notice is nailed within which Bon+ower may pay the eume declared due. If Borrower fails to pay auch aume prior to the e:p'vation of such period, Lender may. without further notice or demand on Eiormwer, invoke any remedies permitted by paragranh 18 hereof. 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been V;~ ~i ~ rocured by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. UCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Authority of St. ~ ucie 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 ~ ~ 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 autanatically 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: ~ ~ ~ "Mortgage loans, with the exception of FHA-insured or YA-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 i 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. # , BOOK ''~352 Pa~F 973 . F t ~ , ' . . ' . . . _ ' ' s•' . .~''s