The URL can be used to link to this page

Home My WebLink About07948. ~!!~~<<~OA. I.e~der may make or cause b be made reasonable entrie~ upon and inspection~ of the property, pmvided that Lender ~haU give Borrower notioe prior to any such in~pection specifying reasonable cause therefor releted to l.ender s interret in the Property. 9. Coademnatioa. The pmcs~ds of any award or claim [or damages, direct or consequential, in connection with any oo~demnatioa or oth~ taking of the property, or part thereot, or [or conveyance in lieu ot oondemnatio~, ere herebjr a~ned and shall be paid to L.ender. In the eveat of a total taking of the Property. the proceede shall be applied to the sums socured by thie Morfgage. with the ~cew. i! any, paid to Borrower. In the event oi a partial taking of the Property, unlees Borrower and Lendec otherwise agree in writi~, there ahall be appGed to the aume eecund by this Mortgage such pmportion of the proceeds as is equal to thet proportion which the amount of the sums secured by thia Mortgage immediately prior to the date of taking bears to the fair market value oithe Property immediately prior to the date of taking. with the balanca of the proceeds paid b Borrower. If the Property is abandoned by Borrower, or if. aR,ar notice by I.ender to Borrower that the oondemnoroffers to make an award or settle a claim for damages. Aorrower faila to respond to [.ender within 30 daye after the date such notice ia mailed, Lender is authorized to rnllect and apply the procceds. at l.endei s option, either to reetoration or repair of the property or to the sums securod by thia Mortgage. Unlesa I.ender and Borrower otherwiee agree in writing, any such application of peoceeds to principal shall not extend or postpone thedue date of the monthly installments re[erred to in paragraphs 1 and 2 hereof or change the amount of auch inetallments. 10. Borrower Not Released. Extenaion ot the time for paymant or modification of amortization of the suma secured by thie Mortgage granted by I.ender to any succesaor in intereat of l3orrower ehali not operate to release, in any manner, the liability of the original Borrower and l3orrowe~'e aucceaeore in intereat. I.ender shal! not be required to oommence proceedinge againet such auccesaor or refuee to extend time far payment or otherwise modify amortization of the suma secured by this Mortgage by reaaon of any demand made by the original Borrower and Borrowe: e~ aueceseori+ in intereat. 11. Forbearance by I.ender Not a Waiver. My forbearance by L,ender in e:ercising any right or remedy hereunder, or otherwise at'forded by applicable law. ahall not be a waiver of or preclude the exerciee of any euch right or remedy. The pmcurement of inaurance or the payment of taaee or other liena or chargea by l.ender ahall not be e waiver of Lender'e right to accelerate the maturity of the indebtedneas secured by thia Mortgage. 12 Remedies Cumulative. All remediee provided in thie Mortgage are distinct and cumulative to any other right or remedy under this Mortrage or afforded by law or equity. and may be exerciee.l ooncurrently, independently or suoceaeively. 13. 3uccesaore and Aeaigne Bound; Joint and 3everal Liability; Captione. The covenante and agreementa herein rnntai~ed ehall bind, and the righta hereunder ehall inure to, the respective eucceaeors and assigna of I.ender and Borrower, aubject Lo the proviaions of paragreph 17 hereof. All covenante and agreementa of Borrower ehall be joint and eeveral. The captione and headinge of the paragraphs of thie Mortgage are for covenience only and are not to be uaed to interpret or define the provisiona hereof. 14. Notice. Except for any notice required unde~ applicable law to be given in another manner, (a1 any notice to Borrower provided lorin this Mortgage shall be given by mailing auch notice by certified mail addreaecd to Borrower at the Property Ad~resa or at euch other addreas se E3orrower may designate hy notice to l.ender se provided herein, and (b1 any notice to Lender ahell be given by certified mail, return receipt requested, to l.ender's addreae atated herein or to auch other eddress ae Lender may deaignate by notice to Borrower aa provided herein. My notice provided for in thia Mortgage ahall be deemed to have been given to Borrower or l~ender when given in the manner deaignated herein. 15. Unitorm Mortgage; Governing l.aw; Severebility. Thia form of mortgage combinea uniform covenantafo~ national uee and non- uniform covenante with limited variatione by juriadiction to rnnatitute a uniform aecurity instrument covering real property. Thia Morigage ahall be governed by the law otthe jurisdiction in which the Property is located. In the event that any provieion or clause of thie Mortgege or the Note conQicts with applicable law, auch contlict ahall not affect other proviaions o! this Murigaqe or the Note which can be given effect without the conflicting provision, and to this end the proviaiona of the Mortgage and the Note are declared to be aeverable. 16. Borrower'e Copy. Borrower ahall be furniehed a conformed rnpy of the Note and otthia Mortgage at the time of execution or after recordation hereof 17.'IYanefer of the Property; Aseumption. I[ aU or any part of the Property or an intereat therein ia eold or tranaferred by Borrower without Lendei a prior written consent, excluding (a- lhe creation ot a lien or encumbrance subordinate to thie Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a tranefer by deviee, d~scent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intereat of three years or lesa not containing an option to purchase, Lender may, at Lender's option, declare all the eume securea by this Mortgage to be immediately due and payable_ I.ender ehall have waived euch option to accelerate if, prior to the sale or transfer, Lender and the peraon W whom the Property is to be aold or transferred reach agreement in writing that the credit of auch person ia satiafactory to [.ender and that the interest payable on the aums aecured by this Mortgage shall be at such rate as Gender ahall request. If I.ender has waived the option to accelerate provided in thia paragraph 17, and if E;orrower'a auccesaor in intereat hae e:ecuted e written asaumption agreement accepted in writinK by l.ender, I.ender shall release Borrower ftom al) obligatione underthis Mortgageand the Note. If Lender e:ercisea auch option to accelerate. I.ender shall mail Korrower notice ot acceleration in accordance with paragraph 14 hereoL Such notice ahall provide a period of not less than 30 days from the date the nutice is rr.ailed within which Borrower may pay the sums declared due. If Borrower fails to pay such aums prior to tFie ezpiration o[ such period, [.ender may, without further notice or demand on E3orrower, ~nvoke any remedies permilted by paragrauh IR hereof 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been procured by Lender pursuant to Loan Agreement between HOUSING FINpNCE AUTHORITY OF ST. LUCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Authority of St. ~ucie County, Florida, in said Agreement having been assigned to FLORIDA ~rATIONAL 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 payrr~ent 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 automatically accelerate all remaining unpaid installments remaining due under the ' f~ 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 -lesal business hours of each business day. Among other things, the loan guidelines in said agreement provide as follows: "Mortgage loans, with the exception of FNA-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 of this Covenant 17-A is in conflict with any part or parts of Covenant f 17, supra, the terms of this Covenant 17-A shall prevail. ~ !~K , a~~K 3~$ p~cE 79~ ~ 3 - ~ - ~ _ ~~.,.a~..~' '_..~ r-...+" ' _ : .~z:s~'~