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Home My WebLink About15468. Ie~speetioa. I.et~der may make or cawe to be made reiuonable eat~e~ upoa aad ia~pedio~u of the proper~y, provided ttut Lender shall ~iw 8o~ro~ver aotio~ prior w aqy wch irupsction specifyin~ rea~onabk cswe therei~ related to I.eader'~ inL~»d in the Prop~ty. 9. Condemnatioa.'l~e p~a.~sed~ of any award o~ claim for damage~, direct or ooa~equentid. lA COA11liC~10A NIW ~If~- OOAd!lDRit10A O~ other talrin~ of the property. or put thereot. or fo~ coaveyanoe in lien oi ooademnatio~, sre he:eby as~i~aed snd shall be paid ~o Lende~. Ia tbe event of a totel taki~ of the Property. We prooeedi ~hall be applied b tde swns securad by this blortgage. with the esoew, if aay. paid to Borrower. In the eveat of a partial taking of /he ProPa'tY. unlea Bormwer end I.ender otheiwi~e egree ia writi~. then ~hall be applied b the sums ~ecured by tl~u Mortgsge ~uch proportiou of the proceed~ a~ u equal to that proportion ~vhich the amount of the ~ums ~ecured by thia Mortgage imraediately prior to the date of taking bears b the fair market vslue of the Property immediately prior to the date oi talcing. wiW tl~e balanea of the prooeeds paid to Bono.rer. If the Property is abar-doned by Borro~rrr. or if. aRer aotioe by Leader to Borrovver that the ooademnor ogers b make an award or eettle a claim for damage~, Borrower fsils to reepond to l.ender withia 30 days afler the date such notioe is mailed. I.ender is authorired to coUect and apply the p~ooeeds. at Leadei s optioa, either to ratoration or repair of the propaty or to the sums aecured by this Mortgage. Unless Lender end Borrow~ otherwise agree in writing, aay such applicatioa of pmceed~ to principal shall not estend os pwtpone the due date of We monttily in~taUmen4 referred t~o in paragraphs 1 and 2 hereof or change the amount of ~uch installmeats. 10. Borrower Not Released. E:tenaion of the time for paym=at or modification of amortization of the suma eec~ued by this Mortgage granted by Lender to any successor in intereat of Borrower ahall not operate to releaee. in any manneT. the liability of the original Borrower and Botrower a suci.~esaora in intereat. Leoder ahall not be required to oommence pmceedings agait~st such aucceasor or refuse to extend time [or pa.vment or othervvise modify amortization of the aume aecured by this Mortgage by reaeon of any demand made by the origi~a) Borrower and Borrower s auc~.~eseors in interest_ 11. Forbearaaoe by I.eader Not a Waiver. My forbearance by Lender in e:ercising any right or remedy hereunder, or otherwise afforded by appGcable law, ahall not be a waiver of or preclude the e:ercise of any such right or remedy. The procurement of ineuranoe or the payment of t~es or other 6ena or charges by l.enda ahall not be a waiver of Lender s cight to socelerate the maturity of the iadebtedneas secured by this Mortgage. 12 Remedies Cumulative. All remedies pmvided in this Mortgage an distinct and cumulative to any othes right oz remedy under this Mortrage or aiTorded by law or equity, and may be e~errise.l rnncurrendy. independendy or euaoessively. 13_ 3ucceseors aad Assigns Bound; Joint and 3everal Liability; Captioao.'t1~e rnvenants and agreements herein oontained ahall bind, and the rights hereunder shall inure to, the reapeMive enccessors and assigns o! Lendcr and Borrower, aubject to the pmvisions of paragraph 17 hereof. All rnvenants and agreements of Borrower ahall be joint and eeveral.'11ie caption8 and headings of the paragrephe of thie Ma~tgage are [or rnvenience only and are not to be used to interpret or define the provisions hereof. 14. Notice. E:cept for any notice required under applicable law to be given in another manner, (a) any notice to Borrower provided forin thie Mortgage ahal) be Riven by mailing euch notice by certified mail addreeeed to Borrower at the Property Address or at euch other addnes aa F3orrower may deaignate by notice to I.ender as provided herein, and (b) any notice to Leader sha11 be given by certified mail, return receipt requested. to Isnder'a address atated herein or to auch other address aa Lender may deaignate by notice to Borrower ax pmvided herein. My nodce pmvided for in this Mortgage ahall be deemed to have bee~ given to Borrower or Lender when given in the manner deeignated hez~cin. 15. Unlfor~n Mortgage; Govetning I.aw; Severability.'l~ia form of mortgage rnmbinea uniform oovenanta for national use and non- uniform rnvenante with limited variations by jnrisdiction to oonatitute a unitorm eecurity inetnuuent oovering resl property. Thia Mortgage ahall be governed by the law+ of the juriadiction in which the Property is located. In the event that any provinion or clauee of thie Mortgage or the Note conflicts with applicable law, such rnnllict shall not af~ect other proviaiona of thie Mortgege or the Note which can be given effect without the mnflicting pmviaion, and to thia end the provisions of the Mortgage and the Note are declared to be severable. I& Barrower's Copy. Borrower shal) be fumiahed a conformed oopy of the Note and of thia Mortgage at the Wne of e:ecutivn or after recordation hereof. 17. Transter ot the Property; Asaumption. I[ all or any part of the Property or an interest thtrein is eold or transferrecl by Borrower without Lender a prior written conaent, e:cluding (a) the creation of a lien or encvmbrance aubordinate b thia :4lortgage. (b) the creation of a purchase money aecurity in~t for household appliances, (c) a trane[er by deviae, deecent or by operation of law upon tlie death of a joint tenant or (d) the grant of any leasehold intereat of three years or lees not rnntaining an option to purchaee, Lender may, at Lender s option, declare all the suma secured by thia Mortgage to be immediately due and payable. Lender sh~U have waived auch option to accelerate if. prior to the sale or transfer. Lender and the pereon to whom the Property ia to be aold or treneferred reach agreement in writing that the credit of such person ia eatisfactory to Lender and that the intereat payable on the suma secured by this Mortgage shall be at such rate aa Lender ehall request. If Lender hns wai~ed the option to accelerate provided in thia paragraph 17, and if Borrower a aucceesor in interest haa e:ecuted a written assumption agreement accepted in writing by Lender, Lender ahall release Borrower from al) obligations under thia Mortgage and the Note. If Lender e:ercisea such option to accelerate, Lender ahall mail Borrower notice of aceeleration in accordance with paragraph 14 hereof. Such notice shall provide a period of not leas than 30 days from the date the notice ia rcailed within which Borrower may pay the eums declared due_ If Borrower fails to pay such aums prior to the e:piration of such period, I.ender may, without further notice or detnand on ~iorrower. invoke any remediea permitted by paragraoh 18 hereof. 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been procured by,Lender pursuant to Loan Agreelnent 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 rr~st 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. Fvnong 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 r,tould have been eligible for a mortgage loan originalTy under these guidelines for a term not to exceed the term of this agreenent. 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 orre 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. ~ g~ ~348 P~~~~.546 - : :_~: ~ ~ , x~.v .,~~.;~.~__~ .. _ - ~.~- ~