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Home My WebLink About08028. Inspectloa. Lender mey make or ceuse to be made reasonable e~trie~ upon and in~pections of lhe pcope~ty, provided that Lender shall give Bormwer notice prior to any euch inspection specifyin~ reaeonable cause therefor related to Lender's intenst in the Pmperty. 9. CondeinnAtion. The proceeds of eny award or claim for damage~, diroct or rnn~equential. in rnn~ection wilh eny oondorn~etion or other takiog oi the property. or part thereof, or for rnnveyance in lieu of condemnetioa, are hereby aasigned at~d ~h~U be paid b Leader. ln the event of a toeal taking of the Propetty. the proceeda ehaU be applied b the euma eecured by thie Mortgage, with the esce~s, i[ a~y. paid to Borrower. In the eveM of a partial taking o[ the Property. unleas Borrower and l.endet otherwise agree in writing, there shall be applied to the aums scrured by this Mortgage such proportion of the pmceeds as is equal to that proportion which the amou~t of the suma secured by this Mortgage immediately p:ior to the date oi taking bears to the fair market value of the Property immediately prior to the date of taking, with the balanea of the proceeds paid to Borrower. If the Property is abandoned by Borrower. or if, efter notice by I.ender to Borrowe~ that the oondemnor offers to make an award or settle a claim for damagea, Borrower fails to respond to I.ender within 30 days aRer the date such notice ia mailed. [.ender is authorized bcollectand apply the pmceeds. et l.ender s option, either to restoratio~ or repair of the pmperty or to the sums aecured by this Mortgage. Unless Lender end Borrower otherwise agree in writing, any euch application of proceeds W prinripal shell not estend or postpone the due date of the monthly installmente referred to in paragraphe 1 and 2 heoeo[ or change the amount of such installmeata. 10. Borrower Not Reteaeed. Extension of the time for paymant or m~-dification of amortization oi the euma secund by thie Mortgage granted by l.ender to any aucceaeor in intereet of Rorrower ehall not operate to releaee, in any manner, the liability of the original 8orrower and Bocrower's eucceaeore in intereet. Lender ehali not be required to rnmmence proceedinga against such euccessor~or refuae to e:tend time for payment or otherwiae modity amortization of the aums aecured by this Mo~age by reason of any demand made by the original Borrower and F3orrower'a succ~ess~~n+ in interest. 11. Forbearaace by I.ender Not a Waiver. Any forbearance by I.ender in exercieing any right or remedy hereunder, or otherwise afEorded by epplicable law, ahall ~ot be a waiver of or preclude the e:erciee of any such right or remedy. The pmcurement of inaurance or the payment of ta:es or uther liens or chergee by l.ender ahall not be e waiver of Lender'e right to accelerate the maturity of the indebtedness aecured by tl~:e Mortgage. 12 Remediee Cumulative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortrage or afforded by law or equity, and mey be e:ereise.l ooncurrently, independenUy or eucceasively. 13. Succeesora and Aseigne Bound: Joint and Several Liability; Captions. The covenants and agreemente herein rnntained ehall hind, and the righte hereunder ahall inure to, the respective succeeeors a~d aeaigns of Lender and Borrower, nubject to the provieione of paragraph 17 heteo[ Aq covenanta and aRreements uf Borrower shall be joint and several. The captions and headinge of the paragraphs of thia MortgaBe are [or covenience only and are not to be ueed to interpret or define the provieiona hereof. l4. Notice. Except for aoy notice required u~der applicable law to be given in another manner, f a) any notice to E3orrower provided [or in this Mortgage ahall be given by mailing such notice by certified mail addreeaed to Borrower at the Property Adrlreae or at euch other eddreea as E3orrower may deaignate by notice to l.ender as provided herein, and (b1 any notice to Lender ahaU be given by ce~rtified mail, return receipt requeated, to I.ender'e addreas atated herein or to auch other addrese as l:ender may designate by.notice ta F3orrower aa provided herein. Any notice provided for in thia Mortgage ehall be deemed to have been given to Borrower or I.ender when given in the manner deaignated herein. 15. Uniform Mortgage; Governing Law; Severability. This torm otmortgagecombinea uniform oovenante for national use and non- uniform covenants with limited variatione by juriediction to conetitute a uniform security inetrument rnvering rea) property. Thie Mortgege shall be governed by the law of the jurisdiction in which the Property ia located. ln the event that any proviRion or clause of thie Morigage or the Note conflicts with applicable law, auch conAict ahall not affect other provieions of this hturtgage or the Note which can be given effect whthuut the mntlicting provision, and W this end the pmvisiona ot the Mortgage and the Note are declared to be eeverable_ 16. Borrower's Copy. Borrower ahall be furnislied a conformed copy of the Note and of thia Mortgage at the time of execution or after recordation hereof. 17. 75ransfer of the Property; Aseu~pption. It all or any part ot the Property or an interest therein is sold or traneferred by Borrower without I.ender a prior written consent, excfuding (a) the creation nf a lien or encumbrance aubordinate to thie Mortgage, (b) the creation of a purehase money aecurity intereat for houaehold appiiancea, (c) a tranefer by deviee, descent or by operation ot law upon the death of a joint tenant or (d) the grant of any leaeehold intereat ot three years or lrae not rnntaining an option to purehaae, l.ender may, at [.ender a option, declare all the aums secured by this Mortgage to be immediately due and pa~able. Lender ahall have waived auch option to accelerate if, prior to the sale or tranafer, I.ender and the peraon to whom the Property ie to be sold or transferred rnach agreement in writing that the credit of such peraon is eatiafactory to Lender and that the interest payable on the suma secured by this Mortgage shall be at auch rate ae Lender ehall request. If I.ender has waived the option to accetrrate pruvided in thia paragraph 17, and i[ E3orrower's succeaeor in intereat haa e:ecuted a written asaumption agreement accepted in writing by I.Pnder, l.ender shaU release I3orrower from all obligationa under thia Mortgage and the \ ote. If l.ender exercisea auch option to accelerate, l.ender ehall mail I3orrower notice of accelrration in accordance with paragraph 14 hereof. Such notice shall provide a period of not less than 3(1 days fmm thedate the notice ia rr.ailed within which Borrower may pay theaums declared due. if Borrower fails to pay euch sums prior to the expiration of such penud, I,ender may, without turther notice or demand on l3onower, ~nvoke any remedies permitted by paragraoh It; 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 FINANCE 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 ass~igned to FLORIDA NATIONAL BANK OF `, IAMI, 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 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 Borrcwer, 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 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 of this Covenant 11-A is in'conflict with any part or parts of Covenant 17, supra, the terms of this Covenant 17-A shall prevail. ~ , ~~1+1K 348 Fa~E 802 ~ ~ ~ , -- :~ .,.'~ . °~ ~ .. . ~_ _ Y __~`_. ~ ~y.risi ,arFs'i.fs'~,.r~{. /c.x..,.. 'ti~-' . ~ ~~_j - _ y5.a_..,:-u.~ .ti: D