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Home My WebLink About0978 8. Inspactlon. Lender mqy make os cawe b be made eeaaoneble entries upon and 'uupectiocu otthe proper~y. provided Wet LeAdes shall give Boetower notioe prior to sqy ~uch uupection sPeci4~inQ reawaabte cause therefor relsted to Leadar'~ iAtere~t in tbe Propeuty. ' 9. Condemaatioa. The procceds of any award or claim for damages. dinct or con~equeAtial. in oonnectioA ~viW any oondannatioa ~ other taln~ of the property. or part thereof, or for conveyance in lieu of oonderanatioa, ere hereby api~ned aad ~hal! be paid to Lender. In the ever~t oi a total taking of the P~operty. the proceeds shall be applied b the sums secured by this Mortgage. w~ith We ezoera, if any, ' paid to Borrower. In the event of e partial taking of the Property. unlees Borrow~ and Lend~ othenviss agree in writia~~ tbere ahall bs epplied to the auau secured by thi~ Mort~age such proportion of the pmceeds as ie equal to that proportion which the amouat of tlre ~um~ aecured by this Mortgage immediately prior to the date of talung beara to the fair merket value of the Property imiaediate~y prior to the date of taking. with the balanoa of the prooeeds paid to Borrower. • If the Property is abandoned by Borrower. or if. aRer notioe by Lender to Borrower that the ooademnor o~ers Lo arake an sward os settle a claim for damagea. Borrower faile b respond to Lender within 30 days aKer the date auch notice is mailed, Lender is authorized to coUect and apply the pra.~eeds. at I.ender's optioa. either to reatoration or repair of the pmperty or to the sums secured by this Mortgage. Unless Lender and Borrower otherwise agree in writing. any such application of proceeds b principal shall not ~tend or postpoae the due date of the monthly instaUmenta referred Lo in paragraphs 1 and 2 hereof or change the amount of such instaWnents. 10. Borrower Not Iteleased. E:teneion of the time for paymant or modification of amortization of the suma eecured by this Mortgege granted by Lendac to any aucceasor ia interest of Borrowes ahall not operate b release. in any manner. the lisbility of the original Borrower t snd ~sorrower'e aucceseora in interea~ Lender ehal! not be required to oommence proceedinge against such aucceeaor or refuae to e:tend time tor payment or otherwiae modify amortization of the auma eecured by thie Mortgage by reaeon of any demand made by the original Borrower and' Borrower a sccce8a-?rs in intereat. 11. F.er.bvarance by Lender Not a N?aiver. My forbearance by Lender in e:erciaing any right or nmedy hereunder. or otherwise atYo.rded by applicable law, ahall qot be a waiver of or preclude the e:etciee of any auch right or remedy. The procurement of ineurance or the payrnent of taxes ot other liene or chargea by Lender ahall not be a weiver of Lender's right to aocelerate the maturity of the indebtedneas secured b~ thia Mottgage. 12 Itemediee Camulative. All reme~iee provided in thie Mortgege are diatinct and cumulative to any other right or remedy under this Mortrege or afforded by law or equity, and may be ezerciee~i aoncurrently. independently or suooeesively. 13. 3ucceseors and Aesigna Bound; Joint and 3everal Liability; Captione. The oovenanta and agreemente herein oontained ehall bind. and the righta hereunder ehall inure to. the reepective encceaeors and aesigna of I.ender and Borrower, aubject to the provisions of paragraph 27 hereof. Ail rnvenanis and agreemente of Borrower ahall be joint and several. The captions and headinge of the paragrapha of ~ thie Mortgage are for covenience only and are not to be ueed to interpret or define the provisiona hrreof. 14. Notice. Eaeept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided forin ' thie Mortgage ahall be given by mailing such notice by certified mail addressed to Borrower at the Property Addreae or at such other addrees as Borrower may deaignate by notice to Lender as provided herein. and (b) aay aotice to I.ender ahall be given by certified mail. return receipt requeeted, to l.endei a addreea atated herein or to such other addrese ae Lender may deaignate by notice to Borrower ea pmvided herein. My notice provided for in thia Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner deaigaated herein. 15. Uniform Mortgage; Governing Law; Severability. This form of mortgage combinea uniform covenanta for national uee and aon- uniform rnvenanta with limited variatione by juriediction to oonstitute a uniform eecurity inatrument rnvering reai pmperty. Thia Mortgage ~ shall be governed by the law of the juriadiction in which the Property ia located. In the event that any pmvieion or clause of thia Mortgage or the Note conflicts w~th applicable Iaw, such conflict shall not aftect other proviaiona of this Mortgage or the Note which can be given effect without the ooailicting provision, and to this end the provieiona of the Mortgage and the Note are declared to be severable. 16. Bflrrower'e Copy. Borrower ahall be fumiahed a conformed oopy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. 'l~anafer of the Property; Aasumption. If all or any pad of the Property or an intereat therein ia sold or tranaferred by Borrower without I.ender'e prior written coneent, e:cluding (a) the creation of s lien or encumbrance aubordinate to thie Mortgage, (b) the crestion of a ' purchase money aecurity interest for household appliances. (c) a tranefer by deviee, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leaeehold intereat of three years or less not containing an option to purchase. Lender may, at Lender'a option. declare all the auma eecured by thie Mortgage to be immediately due and payable. Lender shall have waived such option to socelerate if. prior I to the sale or tranafer, Lender and the pereon to whom the Property is to be eold or tranefen+ed reach agreemenl in writing that the credit of euch person is satiafactory to Lender and that the interest payable on the suma eecured by thie Mortgage s}iall be at auch rate as I.ender shall requeat If I.ender haa weived the option to accelerate provided in this paragraph 17, and if Borrower's auccessor in interest has e:ecuted a 'I written easumption agreement accepted in writing by Lender, Lender ahall release Borrower from all obligationa under this Mortgage and the i Note. ~ If Lender e:ercises euch option to accelerate. Lender ahbll mail Borrower notice of soceleration in accordance with paragraph 14 hereoL Such ~~ulice ehail provide a period of not iess than :3U days from the date the notice is ~r.ailed within which Borrower may pay the suma declared due. If Borrower fails to pay auch sums prior to the e:piration of such period, I.ender may, without further notice or demand on Eiorrower, , ~nvoke any remedies permitted by paragraoh 18 hereof. ' 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been ~ y'~ procured by Lender pursuant to Loan Agregnent between HOUSING FINANCE AUTHORITY OF ST. _ L U C I E C O U N T Y, F lori da, a n d Le n der, t he in teres t o f t he Housing Finance Au t hority o f 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. Ur~der 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 tn by Lender and Borrower, any default in which by Borrower shall automatically accelerate all relnaining 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 laan 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 af 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. f so`a~ 352 Pac~ 9`l? ~ ~ ~ ~ . . , _ . . - ~ : . . . ~ ~