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Home My WebLink About10278. Ia~pection. I.ender may make or cawe to be made rearut-able entries upon and in~pections olthe property. provided that Lender ~haU Qive Borrower notice prio~ to any such inspection specifying reaeonable cause therefor related to Lender'~ intered in the Property. 9. COAdeQ1A~~0A. The proceeds of any award or claim for damages. direct or con~equential. in connection with any oondemnation or other taking of the pmperty, or part thereof, or [or conveyance in lieu of oondemnation. ate hereby a~si~r-ed ~nd thal! be paid b Le~der. In the event of a tolel taking ot the Property, the proceedi shall be applied to the sums sacured by this Mortgege, with the ~oea, if any. paid to Borrower. In the event of a partial takir~g o[ the Property. unleea Bor~owec ar~d Lender otherwise agree in writinQ. there shall be applied to the sums secured by thia Morfgage such proportion of the proceeda as ie equal to thet pwportion which the arnount ot the ~ums eecured by this Mortgage immediately ptior to the date o[ taking bears to the tair market value of the Property immediately prior b the date of taking. with the balanea of the proceede paid to Borrower. I[ the Pcoperty is abandoned by Bortower, or if, after notioe by Lender tn Borrower that the oondemnor ofters to make an award or settle e claim for dameges, Borrower [ails b rerpond to I.ender within 30 days aRer the date such notice is muiled, Lender is authorised b rnllect and apply the proreede. at Le~der's option, either to ceetoration or repair of the pmpeKy or to the sums aecured by this Mortgage. Unless Lender and Borrower otherwiae agree in writing, any auch application of procecds to principal ahall not e:tend or postpone the due date of the monthly inatallmente referred to in paragraphs 1 and 2 hereof or change the amount of such inetallments. 10. Borrower Not Released. E:tenaion of the time for peym~nt or modification ot amortization of the suma eecured by this Morlgage granted by l.ender to any aucceaeo~ in interest of Borrower sheli not operate to releaee, in any manner, the liebility of the original Borrower and F3or~owec'a aucce3sore in interest. l,ender ahall not be reyuired to commence proceedinga againet euch succesaor or refuee to eztend time for payment or otherwise modify amortizAt':on of the suma secured by thia Murtgage by reason otany demand made by the originai Bo~ower and E3orn-wer s successorn in i~terest. 11. Fbrt:earanc+~ by I.ender Not a R-aiver. Any forbearance by l.ender in exerciaing any right or remedy hereunder, or otherwise affonied by applicable law. ehall not be a waiver otor preclude the e:erciee of any auch right or remedy. The pmcurement of inaurance or the peyment ~f ta:ea or othcr liene or chargea by Lender ehall not be a waiver of [.ender s right Lo accelerate the maturity of the indebtedneas aecured by this 1~tortgane. 12 Remedies Cumulative. AI! remedies provided in this Mortgage are diatinct and cumulative to any other right or remedy under thie Morte~age or afforded by law or equity; and ttfay be e:lrciee~l aoncurrendy. independently or auoceseively. 13. 3ucceasors and Assigne Bound; Joint and Several Liability; Captiona. The covenanta and agreementa herein contained ahall bind, and the righte hereunder ahall inure to, the reepective succeseore and aaeigns of Lender and liorrower, aubject to the proviaione ot paragraph 17 !-ereof. AU covenanta and aRreementa of Borrower shall be joint and several. The captione and headings of the peragraphe of ~ this Mortgage are for covenience only and are not to be uaed to interpret or define the provieione hereof. l4. Notice. F.xcept for a~y notice required under applicable law to be Rivrn in anothe~ manner, (a) any notice to l3orrower provided for in thia Mortgage shall be given by mailing such notice by certified mail addreased to Borrower at the Property Addreae or at such other addrese aa Eiorrower may designate by notice to [.ender as provided herein, and (b) any notice to [.ender shall be given by certified maii, return receipt requested, to I.ender'a addreas atated herein or to auch other addreas ae I.ender may desiqnate by notice to Borrower ax provided herein. My notice provided for in this Mortgage ehall be deemed to have been given to E3orrower or l.ender when given in the manner deaignated herein_ 15. Uniform Mortgage; Governing Law; 3everability. Thiaformotmortgagecombinea uniformoovenantafor national ueeand non- uniform covenanta with limited variations by jurisdiction to constitute a uniform security instrument covering real property_ Thie Mortgege ahall be govrrned by the law of the jurisdiction in which the Property ie located. In the event that any pmviaion or clauae of this Mortgage or ihe Note conflicta with applicable law, auch conflict ahall not aftect other proviaions of this MortRage or the Note which can be given effect without the cunflicting provision, and tb thia end the provieions of the Mortgage and the Note are declared w be aevetable. 16. Borrower'e Copy. Borrower ahall be furniehed a conformed cupy of the Note and otthis Mortqaqe at the time of execution or sfter recordation hereof. 17. Tranefer of the Property; Aesumption. lf all or any part of the Property or an inlereat therein ia eold or tranaferred by E3orrower without I.ender's prior written consent, excluding (a1 the creation of a lien or encambrance aubordinate to thie Mortgage, (b) the creation of a purchase money eecurity intereet fot houeehold appliances, (c) a transfer by deviee, deecent or by operation ot law upon lhe death of a joint tenant or (d1 the grant of any leasehold intereBt of three yeara or leas not rnntaining an option to purchaee, l.ender may, at Lender e option. declare+all the sums aecurea by thia Mortgage to be immediately due and payable. l.ender ehall have waived auch option to accelerate if, prior to the sale or tranafer, Lender and the peraon to whom the Property ia to be sold or tranaferred reach agreement in writing that thecredit of auch person is satisfactory to Lender and that the interest pnybble on the aums secured by this Mortgaqe shall be at such r~ite ae Lender ehall request_ If I.ender has waived the option to accelerate provided in this paragraph 17, and if E3orrower's succesaor in interest hae e:ecuted a written asxumption agreement accepted in writing by I.ender, l,ender shall release F3orrower from all obligationa underthis Mortgage and the Note. If l.ender exercisea such option W accelerate, t.ender shall mai) Iiorrower notice of acceleration in accordance with paragraph 14 hereof. Such notice ahall provide a period otnot lesx than :30 daya from thPdate the notice ia mailed within which E3ormwer ~nay pay the sums declared due. It Borrower faiis to pay such sums prior to the expiration ot such period, l.ender may, without further notice or demand on fiorrower, ~nvoke any remediea permitted by paraQra~h 1R 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. ,~ 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. 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 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. Arrong other things, the loan guidelines in said agreement provide as follows: "Mortgage loans, with tl~e exception of FHA-insured or VA-guaranteed mortgage loans, may not be assumed except by a person or famiiy 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 outstanciing 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. BJOK •~`t0 PAGE ~U~-~ i ~~~ ~ ~ ~.~-~ . .~. .. ~ . __ , ~ . _ ' - -s~ r . .. v .. :~~