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Home My WebLink About07988. Inspectiott. l.ender may make o~ ceuae to be made reaaonable entrie~ upon and inapections of the pmperty. provided that l.endec ~hap ~ive Borrower notice pRUr W any such ioepection specitying reaepnable cause therotor nlated to l.ender's intereat in the Property. 9. Coademnatlon. 71~e proceeds ot any awerd or claim for damage~, direct or consequential, in coanectioa with any oondemnatioa or other taWng of the pmperty, or part thereoE, or for co~veya-nce in lieu of oondemnation, an hereby a~signed and sha11 be paid to Leader. ln the event ot a total taking of the Property, the proceede ehal) be applied to the suras secured by thu Mortgage. with the esces~, it any. paid to Borrower. In the eve~t of a partial taking of the Property. unlcaa Borrower a~d [.ender othecwise agtee in writint. there shall be applied to the sums eecured by lhis Morigege soch proportion of the pra.~eede as is e+qual to that proportion which the amount ot the sums secured by this Mortgag'e immedietely prior to the date ot taking beara to lhe [air market value of the Property immediately prior W tha date ot taking, with the bula~c~ of the proceeds paid b Bbnower. If the Property ia abandoned by Borrower, or if, after notice by I.ender to Borrower lhat the oondemnor offers to malce e~ award or eettle a ciaim for damagea, Borrovrer fails to reapond to l.endet within 30 daye afler the date such notice is mailed, [.ender is authorized to collect and apply the proceeds. at I.ender e option, either to restoration or mpair of the property or to the sums aecured by this Mo~age. Unleas I.ender and Borrower otherwise agree in writing, any euch application of pmceeds to principal ehall not e:tend or postpone the due daie ot 1he monthly installments referred to in paragraphe 1 and 2 hereoi or change the amount of such instsUments. 10_ Borrower Not Releaeed. Exteneion of the time for paym~nt or modification of amoRization of 1he eums eecured by this Morlgage granted by l.ender to any aucceseor in intereet of Borrower shall not operate to release, in any manner, the liability of the original BoROwer and Borrower's succesaora in intereat. I.ender shall not be required to oommence proceedings aRainat such aucceasor or refuee to extend time for payment or otherwise modify nmortization of thr suma eecured bY this Mortgage by reason of any demand made by the origina! Barrower and E3orrower s auccesaore in interext. ~ 11. Forbearanee by l.ender Not a Waiver. Any fort-earance by t.ender in exercising any right or remedy hereunder, or otherwiee afforded by appticable 1aw. ehall not be a waiver otor preclude the e:erciee of any auch riqht or remedy. 7'he procurement of inaurance or the peyment uf taxee or other liena or chacgea by Lender ahall not be a waiver of I.ender's right to accelerate the maturity of the indebtedneea eecured by thie Mortgase. 12 Bemedies Cumulative. All remedies provided in thia Morigage are diatinct and cumulative to any other right or remedy under this Morte-age or afforde`d by law or equity, and may be exercise~i concurrenUy, independently or succeaeively. l:i. Succeaeors and Aseigne Bound; Joint and 5everal Liability; Captions. The covenants and agreements herein contained ahal{ bind, and the righta hereu~der ahall inure to, the reaPective aucceseore and aseigna of l.ender snd Borrower, eubject to the proviaione of paragraph i? hemoE All covenante and aqreemeota of Borrower shall Le joint and eeveral. The captiona and headinge of the paragraphe of thia Mortgage are for covenience onty and are not to be uaed to interpret or define the provieione hereof. 1 A. Notice. F.xcept for a~y nolice rrqu~red under npplicable IAw to be given in anothe~ mnnner, (a- any notice to ~3orrower provided forin this Mort{(a~;e shall begiven by mailing auch notice by certified mail addreased to Eiorrowerat the Nroperty Addresaor at euch otheraddreae a8 I3orrower may deeignate by notice to l.ender as provided herein, and Ib) any notice to Lender ehall be given bvi certified mail, return receipt requested, to l.ender a addreas etated he~in or to auch other addreas as Lender may deaignate by nolice to I3orrower ax provided fierein. Any notice provided Cor in this Mortgage ahall be deemed to have been given to Borrawer or Lender when given in the manner deaignated herein. 1~. Unitorm Mortgege; Governing Lew: Severability. This form of mortgage combinea uniform covenante for national uae and non- uniform covenanta with limited variatiuna by jnriadiMion tu conatitute a uniform aecurity inetrument cuvering real property. Thie Mortgage shall be govrrned by the law of the juriadiction in which the t'mperty ia located_ In the event that any proviaion or clause of this htorigage or thr IVote conQicte with applicable law, such contlict ehall not affect other proviaions of this MurtQage or lhe Note which can be given effect without the cunflicting proviaion, and to thia end the provieiona of the MortRage and the Note are declared to be severable. 16. Borrower'e Copy. ~3orrower shall be lurniahed a conformed cppy of ihe Note and of thia Mortgaqe at the tim~ of execution or atter recordation hereof. 17. 'I~anafer of the Property; Aeaymption. If all or any part of the Property or an in4ereat therein ia sold or tranaferred by E3omower without l.ender a prior written conaent, excluding (nl the crpation of a lirn or encumbrance subordinate to this Mortgage, lb) the creation of a purchase money aecurity intemat fur houeehold appliances, le! a trensler by deviae, d.acent or by operaiion of law upon 1he death of a joint tenant or (d) the grant of any leaeehold intereat of three years or less not containing an optiun to purehaee, l.ender mey, at l.ender a option, deciare all the aums securea by this Mortgage to be immediately due and payable. I.ende~ ehall have waived auch option to accelerate if, prior to the saleor transfer, I.ender and the peraon towhom the Property ia tobesoid or traneferred reach agreement in writing that the creditof euch person is sntiatactory to Lender and that the interext paynble on the auma secured by this Mortgage shall be at such rate s~a Lender ahall request. If l.ender has waived the option to accelerute pro~•ided in thia paraKraph 17, and if Iiorrower's succesaor in interest has executed a writtenassumptionagreementacreptedin ~ritinKbyl.ender,[.enderahallrelesseBorrowerfromallobligatiunsunderthisMortAageandthe Nute. " I[ Ixnder exerrisex such option tn accelerate.l.enJer shall ms~il Ii~rruwer notice of acceleration in accordance with paraqraph 14 hereof. 5uch notice ahall provide a period of not le~x th:in :io days frum the date the notice ia mailed within which Borrower may pay the auma dedared due. [f Eicxrower fai{s to pny auch sums prior tu the expiratiun of such period, I.ender may, without further notim or demand on Eforrower, ~nvoke any remedies permittpd by paruKraoh IR hrreof. 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 FINANCE AUTHORITY OF ST. LUCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Autharity 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 Financ~ Authority of ~St. Lucie County, Florida. Under the terms of said Loan Agreement which expires at such , time as all the Bonds shall ~iave 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 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, 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 FFiA-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 17, supra, the terms of this Covenant 17-A shall prevail. ~ E~JaK ~~8 FAGE ~i70 _ ~: . ~,~, ~ - ~. .-:~ ~:~~Q ~ ~ .,~~._ ..~.~ _ , . ::;