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Home My WebLink About10338. Inspectioa. I.ender may make or cewe to be mede reawneble erttries upon and in~pection~ of the prope~ty. provided that I.ender shall give Bortower notice prior eo sny such inspection specitying reasonable cawe therefor related to I.e~der's interest i~ the Proparty. 9. Conden~aatlon. The p~oceeds of any award or claim for damages, direct or consequential, in con~eFtion with any oondemnation or other taking of the property. or part thereof, or for conveyance ir- lieu ot oondemnation. are hereby awi~nned and shall be paid to i.ender. In the event of e total taki~g of the Property, the proceeds shall be applied to the sums secured by thu Mo~age. with the ~oew. if any. paid ta Boimower. [n the event of s partial taking ot the Property. unless Borrower and I.ender otherwiee agree in writing. there ~hall be applied to the sums secured by this Mortgage such proportion ot the proceed~ as is equal to that proportion which the amount of the eums eecured by this Mortgage immediately prior to the date of taking bears to the [air ma~ket velue otthe Properly immediately prior to lhe date of taking, with the balanca of the proceeds paid b Borrower. If the Property is aba~do~ed by Borrower, or if, aRer notioe by l.ender to Borrower lhat the rnndemnor offen to ~hake an award or settle a claim for damages, Borrower fails to respond to I.ender within 30 daye aRer the date such notice is mailed, [.ender ia authorized to collect and apply the proceeds, at Lender's option, either to reatoration or repair of the property or b the sums secured by this Mortgage. Unleae Lender and Borrower otherwise agree in writing, any euch application of proceeds to principal ahall not extend or postpone thedue date of tlhe monthly inatallmenta referred to in paragraphs 1 and 2 he~cof or change the amount oi such instalimenta. 10. Borrower Not Released. E:teneion of the time to~ paym~nt or modification of amortization of the ~ums scc~red by~thia Moctgage granted by I.ender to any aucceaeor in intereet of Borrower shall not operate to releaee, in any manner, the liability of the originel Borrower and E3orrower s auccesaore in interest. i,ender ehall not be required to commence proceedinge ngainat auch aucceasor or refuse to extend time for payR.rnt orc~therwise modify amortization of the auma secured by this Mortgage by rnasun of pny demand made by the original Borrower ~~nd Fiorrower a succ~~aora in interest. 21. ForbearAnce by Lender Not a Waiver. Any •iorbearance by Ixnder in exerciaing any right or remedy hereunder, or otherwiee afforded by applicable law, ehall not be a waiver uf or preclude the e:ercise of any such right or remedy. The pmcurement of ineurance or the payment uf taxes or other liena or chargea by Lender ahaU not be a waiver of [.ender a right to accelerate the maturity of the indebtedneae aecured by this Mortgage. 12. Remedies Cumuletive. All remediee p~ovided in thie Mortgage are distinct and cumulative to any other right or remedy under this Mortrage or afforded by Iaw or e4ui~y, and may be esemise~i ooncurrently, independently or succeeaively. 13. 3ucceesors and Asaigne Bound; Joint and Several Liability; Captions.l'he covenanta and agreementa herein rnntained shall bind, and the righta hereunder ahali inure to. the reepective aueceaeore and.asaignB of Lender and E3orrowe~, aubject to the provisione of paragraph I? hereof. All covenants and a~eementa of Borrower ahall be joint and eeveral. The captiona and headinqe of the paragraphe of thie Mortgage are for covenience only and are not b be ueed to interpret or define the provieione hereoL 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided [or in this Mortgt+qe shall be given by mailing auch notice by certified mail addreaeed to Borrower at the Property Address or at auch other addrees aa Rorrower may designate by notice to [.ender aa provided herein, and (b) any notice to l.ender ahall be given by certified mail, retum receipt requeated, to l.ender's addresa stated herein or to auch other address as Lender may deeignate by notice to Borrower se~ provided herein. Any notice provided for in thiR Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner deaignated herein. 15. Uniform Mortgage; Governing l.aw; Severability. This form of mortgagernmbines uniform oovenante for national useand non- uniform rnvenante with limited variations by juriadiction to rnnatitute a uniform security instrument cuvering real property. This Mortgage shall be governed by the law of the juriadiMion in which the Property ia located. tn the event that any provision or clause of thie 111ortgage or the Note contlicts with applicable 1aw, auch conflict ahall not affectother proviaiona of this Murtgage or the Note which ran be given effect without the conflictinq provision, and to this end the provieions ot the Mortgage and the Note are declared to be aeverable. 16. Barrower's Copy. Borrower ahall be furnished a conformed copy of the Note and of thie Mortgage at the time of e:ecution or after recordation hereof. 17_ 7lransfer of the Property; Aeaumption. lf all or any part of the Property or an intereat therein ia eold or traneferred by Borrower without Lender a prior written conaent, excluding (a) the creation of a lien or encumbrance aubordinate to thia Mortgage, (b) the creation of a purchase money secutity inteseat for houaehold appliancea, (c) a tranafer by.devise, d.scent or by operation of law upon the death of a joint tenant or (d) the grent of any leasehold intereat of lhree years~or lesa not containing an option to purchase, [,ender may, at [.ender's option, deciare all the aums secured by this Mortgage to be immediately due and payable. Lender ehall have waived euch option to accelerate if, prior to the sale or tranefer. Lender and the peraon to whom the Property ia to be eold or tranaferred reach agreement in writing that the credit of auch person is satisfactory to Lender and that the interest payabte on the aums aecured by thie Mortgage shaU be at sach rate as Lender ahall requeat. If [.ender has waived the option to accelerate provided in this para~aph 17, and if Borrower's succeasor in interest has executed a w~ritten assumption agreement accepted in writing by I.ender, Lender ahall release E3orrower from all obligationa unde~ thia Mortqage and the ~Iote. It Ixnder exercises such option to accelerate, I.ender shafl maii Bormwer notice of acceleration in accordance with paragraph 14 hereof. 5uch notice ahall provide a period o[not leas th:~n :;0 days from the date the notice is ~r.ailed within which E3orrower may pay theaums declered due. If Borrower fails to pay auch sums prior to the expiration of such periud, l.ender may, without further notice or demand on E3orrower, invoke any remediex permitted by paraqraoh tR hermf. l7-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 Authori,ty 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. ~mong other things, the loan guidelines in said agreement pravide 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 17-A is in conflict with any part or parts of Covenant 17, supra, the terms of this Covenant 17-A shall prevail. I - • .~ ' 6~J~K 348 PN~t 1033 ~ - ~ ~~~~ . , - - -~ ~~ ~-.~ _ 7~~~ .. _.~: _._~._ Y = ~ -