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Home My WebLink About05208. la~eetioo. La~dK m~r make o~ ean~e to be made e~eiuooable a-t~ie~ upon and inapectioas oithe propsrty. Pmvided that L~d~ ~hall ~ire Barower notio~ p~ior oo aq~r ~och ia~peetioa ~peiabrins re~wnable aiue tLaefo~ related to Lendar'~ interat ia the Prop~ty. otbe~ taion,~ d tbe ~ Pr~~~ at any award o~ daim fot damase~ ditect a~ oorueQueatial. iA conaecti~ witb aoy ooad~mna4oa or peoperb. ar p.it tbe~+eot. or far ooureyaaoe ia lie~ ot ooademaatioa. are hereby a..i~ed .od ahall be paid to Lender. ln the e~nat ot a total takia~ of tAe Phopert~. ~be prooeed•.bell be applied ~o We watis secured by ~his MoMS+~a w;th the e~cos.s, if sny. paid b Bore~os~es. la We rvent ot a partial takins ot tl~ Property. nnkM Borrower and lande~ otberMri~e ~ree in wcititq. there shaU bs apptied to ebe ~am~ ~ec~ed bq t6i~ 1llort~~e wcb peoportiaa d the pcoceed~ as is eqnal to that proportioa which We aa-owit o! the ~um~ •ecvrEd b~r this Matp~e immediatdy p~io~ to the date d t~lons bea» b tbe tair a~arkd valne of We Ptoperty immediately prior to the daf~s of tsloni. wntb We balanos d tbe peoceed~ p~id to Boreower. lltbe Peope~ty u ab~ndooed by BoRO.na. a~ i~ aRer notiae by La~der to Borrowra that the ooudemnor ogers to make an awud or ~ettk a claim tor damase~, Boct~orer tails eo respond b I.eader within 30 days aiter the date such notioe ia mailed, lande~ ia authorised to ooUect end apply tbe P~ooeeds. at I.eadd~ option. eitber w re~toration ar repair of tbe popaty or to tbe snau ~ecnred by tluw Mort~+~ge. Unlew La~der and Boa~ower otben~ri~e aie'ee in writini. u-Y ~h applicatioa of p~oceed~ to prindpsl shall not e~ctend or po~tpone the due date ot tbe moothb- inwllments referred ~o in paraQaph~ 1 aad 2 hereof or change the awount of snch inataWneats. 1Q Borr+o~rer Not Relea~e~d. Estersion ot the time for paym:nt or modi5catiou of amortizatio~ of the suma secured by this Mortgage graneed by t~nda ~o any socr~.or ia incerest oi Boar.rer .ball noc operak to release. in any manaer, the liability of the original Borrower and Borrower a saccwors in enterest I.ende~ shall aot be required to oommence proceedings against such suocessor or refuse to'e:tend time tor p4yment orotherwise modi[p amortization of the s~ms secured by this Mortgage by reason of any demand made by the original Borrower and Borrowei a snocasori~ ia inter~st. I 1. Rorbe~ranoe b1l,eoder Not a~1-aiver. Any forbearance by Lender in esercising any right or remedy hereunder. or otheewise a8orded b~r appticabk Lw, ahal! not be a waiver of or pnrlude tl~e a~erriae ot any ~uch right or remedy. The prc~curement of insuranoe or the payment oi tases ar otber liau ar char`er by Iinder ~hall aot be a waiver of Lendtr's iight to aooderate the maturity of the iadebt~edneas ~eevred by this ;Nortgaige. 12 Re~e~es (.tiua~tfati~re. All eemedies provided in this Mo~tgage are dirtinet a~ cnmulati~~e to any other right or remedy under this Mortra~ee or agoeded bp law or e4uitp. aod may be ae~cise~i eoncnreendy. iadependendy or suooessively- 13 Soe~es~on snd A~sisns Boond;.Joint and Seeetal I,isbliti; Captions. The oovenanta and agreemente herein oontained ahall b~nd. and the ri~ts b~ennde~ shall inare to, tl~e eespective soooeewrs and assigns of Lender and Borrower, aubject to the provisions of P~H~P1~ 17 hcreoi A11 covenants and agreemeats of Bormwa shall be joint and several.lLe captioas and headings o! the paragraphs of this Ma~tgage arr far oovenieooe only and aie not w be wed to interpret or defwe tbe provisions herlo! 14_ Notice. E:cept for any notiee reqnired under applicable law+ to be given in anotha manner. (a) any notice to Borrowef provided for in ~~0~8~ ~1~ ~ 6~~ bY mailinB sarl- aotiee bY ~ertified mail addre~ed to Iiorrowrer at the Property Adriresa or at such other addreas as ~~ ~y desi~te bY notice to l~nder as provided 6erein, and (bl any notice Lo linder shap be given by certified mail. nt~un receipt re9~d. w lander'a address etated herein or to such other addreas aa I.ende~ may deaignate by notice to Borrower ae provided herein. My ~o~ P~'o~de'd f~ in thia Mataage shaU be deea-ed to have been given to Boirower or Lender when given in the manner designated heran. 15. Uniform Ilortaa,tr. Gorernint La~v; Severabilit~. 't7iis torm of mortgage ~ombinea ~niforw oovenante for national use and aon- ani[orm eavenania writh limited variatioas by jarisdiction to rnnatitute a unit~m secarity instnunent o~vering real property. This Mortgage gha11 b~ Boverned bY the law of the jarisdiction in which the property u located. Ia the event that any proviaion or clause of thie Mortgage or the I~ote contlicts arith appticabie lawr, auch coullict aha1l not aRect other provisions of thia Mortgage or the Note which can be given effect "n~O°t ~ ro°~~nB Pro~p. and to thia end the proviaona of the Mortgage and the Nofe are declared to be severable_ 16- B~**'o~ver'~ CoPt- Borrnwer shaq be fnraished a rnaf~rmed oopy of the Note aad of this Mortgage at the time of ezecution or after recordation haeof 1?- 7~aasfer of t6e Pr~opert7; A~aamptioa. If sll or any part of the Prop~ty or an interest therein ia soW or transferred by Borrower writhoat I~nder a prior wrium coosent, adnding ~a1 the creation of a lien ~ es~cumbrance aubordinatt to thia Mortgage. (b) the ~reation of a Pn~chase mone3 se~vri~Y int~e~ f.x honsehold appiiaaoea, (c1 a transfer by devise, d~soent or by operation of law upon the death of a joint tenant or (d) the grant of any Iea~ebld intereat of three yeare or tus nd mntaining an option to purchase, Lender may, at L,ender s option, dedare all the wms secnrea by this Mortgage to be immediately dae and payabk_ i.ender shall have waived such option to aooelerate if. prior to the+ak or trender. [~ender and the pason to whom the Propaty ia to be sold or transferred reach agreement in writing that the credit of such Persou is satisfactorY w 1~eader and that the intereat payabk on the auma aecvred by thie Mortgage shall be at auch rate as I.ender ehall ' request If [.ender has wraiced ttie option to arceierate provided in this paragraph 17, and if Borrower s successor in intereet haa eYecnted a w*ritten assurnption agreement acrepted in v--riting by Lender, Lender Bhall releaae Borrowet from a11 obligationa under thia Mortgage and the ~iote_ j t[ Lmder ~rrcises such option to accelerate, Lenaer ahal) mail Borrower notice of acetleration in acrnrdance with paragraph 1~ hereof. I Snch notice 8ha11 provide a period of not lesa than 30 days [rom thedate the notice ia ~t.siled within which Borrower maY PaY ~e auma declared ~ due_ If Borrower t3i1a to pay w~h aums prior co th~ e:piration of such period, Lender may, v-ithout further notice or demand on f3orrower~ ~ mvoke any nmedies pefmitted bp P~raB*aoh 18 hereof ~ 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been i procured by Lender purs~ant to Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. ~~^ f, LUCIE COUNTY, Florida, and Le~der, the interest of the Housing Fi~sance Authority of St. ~~~'~ Lucie Co~nty, 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 Qrovision made for such payment pursu- g ant to the Indenture, Nhichever 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 renaining 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 exar~ination by any party during iegal business hours of each business day. ; Among other things, the loan guidelines in said agreement provide as follows: "Mortgage loans, Nith 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 assianption, but only after the agree- ment has terminated. In the event a mortgage loan is assumed, lender may not charge or impose an assunption fee in excess of one percent of the outstanding princiFal 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, tt~ terms of this Covenant 17-A shall prevail. ~.~ 348 ~,~ 520 I ~ ~-r.Ya~_.. _ ~ :~,~__ .~_ . _ - -= .= ._.. _~.~