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Home My WebLink About15508. IaapectioA. I.ender may mske or cawe to be mads reeuoneble eAtrie~ upon end 'uupection~ olthe p~opetty. provided that I.snder ~hall ~ive Hortower notios prior to any such uupe~tion specitying rea~oaabls cause therefor related b Lendei ~ iatere~t in ths Propsity. 9. CoademaRtioa.'l~e proceeds of any award or claim for damages. direct or con~equentiai. in connectioA with aay ooademnatioa os other tslur~ of the pmperty. o~ put thereof, or for conveyance in lieu of oondemnation. ars hereby aMi~ned aad ~haU be paid to Lendee. In the event of a fotal taking of the Property, the pmceeda ehaU be applied to the sums secured by this Mor~age. ~vith the ~cew. if any. paid to Botrower. la the event of a pettial taWng of the Property. unles~ Borrower and Leader otherwiss e~ree in writing, there ~haA be applied to the sums ~ecured by this Mortgage such proportion of the proceeda as u equal to that pmportion which the amount ot the ~unu secured by this Mortgage immedietely psior to the date oi taking bean to ehe fair market value of the Ptoperty uamediately prior b the date of taking. arith the balanca of the proceede paid to Borrower. If the Property is abandoncd by Borrower. or if. aRer aotioe by Lender to Borrow~ that the oondemnor oQers to make an awerd or ~ettle a claim for damagea. Borrowes faila to respond to Lender within 30 days atLer the date such notice is mailed, Lender is authorised to rnAect and apply the prooeedi, at I.end~'s optioa, either to reatoration os repair of the pmperty or to lhe sums secured by this Mortgags. Unless Lender and Borrower otherwise agree in writing, any such application of proceeds to principal ehall not e~ctend or postpoae the due date of the monthly installments referred to in paragtaphs 1 and 2 hereof or change the amount of ~uch installments. 10. Bortower Not Released. E:teneion of the time for paymant or modification of araortisation of the sums eecured by this Mortgege granted by I.ender to any aucceseor in irttereat of Borrower shall not operate to release, in any manner, the liebility of the original8orrower and Borrowerb aucceasora in interea~ Lender ahall not be required to oommence proceedi~gs against auch successor or refuse to e:tend tirae for payment or otherwise modify amortization of the sums secured by this Mortgage by reason of any demand made by the original Botrower and Borrower's auccessors in inter~t. 11. Forbearanoe by Leader Not a Waiver. My forbearance by l.ender in exercieing any right or remedy hcreunder, or otherwise afforded by appGcable law, ehall not be a waiver of or prerlude the e:ercise o[ any euch right or remedy. The procurement of ineurance or the payment of taxes or uther liena or charges by L.ender ahall not be a waiver of Lender's right to aocelerate the maturity of the indebtednees secured by thie Mortgage. 12 Remedies Gtitmulative. All remedies pmvided in this Mortgage are distinct and cumutative to any other right or remedy under this Mortrage or afforded by law or equity. and may be exerciee+l concurrently. independently or auccessively. 13. 3ucceseors and Aaeigns Botwd; Joint and 3everal Liability; Captions. The covenants and agreemente herein oontained ehall bind, and the righte hereunder ahall inure to, the respective sueceeeors and aseigns of l.ender and Borrower, aubject to the provisions of paragraph 17 hereof. A11 covenants and agreements of Borrower ahall be joint and eeveral. The captions and headings of the paragraphs of this Mortgage are for rnvenience only and are notlto be ueed to interpret or define the provieione hereof. 14. Notice. Eacept for any notice required under applicable law to be given in another manner, (a) any notice to ~iorrower ~ovided for in thia Mortgage sha11 be given by mailing such notice by certi~ied mail addressed to Borrowerat the Property Ad~lreae or at such other addreea as Borrower may deaignate by notice to I.ender as pmvided herein, and (b) any notice to Lender ahall be given by ce~tified mail. return reoeipt requested. to I.ender a addreas atated herein or to auch other addreas as Lender may designate by notice tn Borrower aa provided herein. My notice provided for in thia Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner designated hrnin. l5. Uniform Mortgage; Governing Law; 3everability. Thia form of mortgage combines uniform oovenante for nationa[ uae and non- uniform eovenants with limited variations by jurisdiction to conatitute a uniform aecurity inatrument oovering real property. This Mortgage s~all be governed by the law of the juriediMion in which the Property ia located. In the event that any provinion or clauee of thie Mortgage or the Note conflicts with applicable law, auch conflict shall not affect other provisiona ot thie Mortgage or the Note which can be given effect without the eantlicting proviaion, and to thia end the provisiona of the Mortgage and the NoLe are declared to be eeverable. 16. Bflrrower's Copy. Borrower ahall be furniahed a conformed copy of the Note and of this Mortgage at the time of ezecution or after recordation hereof. 17. 'I~anafer of the Property; Aeeumption. If all or any part of the Property or an intereat therein ia eold or tranaferred by Borrower without Lender s prior written rnnaent, excluding (a) the creation of a tien or encumbrance aubordinate to this Mortgage, (b) the creation of a purchase monej~ security intereat for houeehold appliancee, (c) a transfer by deviae, deacent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intereat of three yeara or leas not containing an option to purchaee, Lender may. at Lender a option. declare all the auma secun~i by thia Mortgage to be immediately~due and payable. Lender ehall have waived euch option W aa:elerate if. prior to the sale or transfer, Lender and the pereon ta whom the Property is to be aolJ or tranaferred reach agreement in writing thatthe credit of such persan is eatisfactory to Lender and that the interest payable on the sums secured by thie Mortgage ahall be at auch rate ae Lender ahall request. If I.ender has waived the option to accelerate provided in thia paragraph 17, and if Borrower a aucceeaor in intereat has e:ecuted a written assumption agreement accepted in writing by Lender, Lenderahall release Borrower from all obligations underthie Mortgageand t6e Note. If Lender exercises auch option to accelerate, I.ender shall mail Borrower notice of acceleration in accordance with paragraph 14 hereoL Such notice ahall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may pay the aums declared due_ If Borrower faila to pay such sums prior to the expiration of auch period, I.ender may, without furth~ notice or demand on Eiorrower, invoke any remediea permitted by paragraoh IA hereof. 17-A. The proceeds of the loan evidenced by the promissory note s~cured hereby have been procured by Lender pursuant to Loan Agreement between HOUSING FIiVANCE 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 Nousing 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. Amon other things, the loan guidelines in said agreement provide as follows: !y "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 principa] 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. 6~~~ 348 PAGE 15~ ~ , x~~~ = . _ , - - .~ ~~~3: ~~~:~~ ~ =z ~::~-~y,~