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Home My WebLink About15548. ltupection. l.ender msy make or cawe to be made reaw~able entrie~ upon eu~d itupections olthe pmperty, providod that Lead~r ~hall ~ive Bormrve~ rtotice prior ~o any ~uch itupection ~pecifying reawasble caws theretor relst~ed to Lender'~ intere~t iA fhe P~operty. 9. CoudemaRUoa. The proceed~ of any award or cleim for dama~e~, direcl or con~equentiel. in connectioa with any aoademn~tion or other tskin~ of the pmperty, or part thereof. or for conveyance in lieu ot o~ndeaat~atio~. are hereby awi~ned aad ~haU be paid b I.e~der. In the event ot a total takin~ of the Propefty. the proceed~ shall be applied to the sums ~ecured by this Mort~a~e. arith the esoep. if any, paid b Borrower. ln the event ot a partisl taking of the Propertyr~nlea Bormwer and Lender otherwi~e a~res in writins, there ~hall be applied to the sums aecured by thu Mort~aQs such proportion of the proceeds as u equal to that proportion which the amount oi the ~uma secured by this Mortgaga immodiately prior to the date o[ taking bears to the [air marke! value of the Property immediaeely prior to the dab oi taki~g, with the balanca oi the proceeds paid to Borrower. If the Prop~ty is abandoned by Borrower, or if. atter notioe by I.ender to Borrower that the oondemnor often to make aA award or ~ettle a claim [or damaga. Borrower feu4 to respond to Lender within 30 days aRer the date such notice is mailed, [ander u aulhorised tocollect and apply the proceed~. at Lende~'s option, either to resbration or repair of the pmperty or to the sum~ secured by this Morfgage. Unless Lende~ and Borrower otherwise agree i~ writing. any such application of pra.~ecds to principal shall not e:tend or pwtpone the due date af the monthly installmente referred to in paragrephs 1 and 2 hereof or change the amout~t oi ~uch iaaWl~qenta. 10. Borrower Not Releaeed. E:tension of the time tor paym~~t or modification otamortization oi the sumt secured by thia Mort~age granted by I.ender to any succeseor in intereat of Horrower ahall not operate to release, in any manner, the liability of the original Borrower and E3orrower'e eucceesore i~ intereat. t.ender ahall not be required to rnmmence proceedings against such auccessor or refuee to e:tend time for payment or othrrwiae modify amortizatiun otthe aume aecured by this Mortgage by reaeon of any demand made by the original Borrower nnd Aorrower s auccesaora in interest. 11. Rorbearance by Lender Not a Walver. My torbearance by I.ender in e:ercieing any right or remedy hereunder, or otherwise at'forded by appticable law,,hall not be a waiver of or preclude the exerciee o! any such right or remedy. The pmcurement of insurance or the paymeat of taaea or other liens or charges by Lender shall not be a w~iber'of Lendei s right to accelerete the meturity of the indebtedt-ew aecured by this Mortgege. 12. Remedle~ Curaulative. All nmediea provided in this Mortgage are distinct and cumulative to any other right or remedy uader this Mortrage or efforded by law or equity, and may be exerciae~l ooncurrently, independenUy or eucceeaively. 13. 3ucceesors and Aaeigns Bound; Joint and 3evera! Liability; Captione. The rnvenants and'agreemente herein oontained ahall bi~d, and the riqhts hereunder shall inure to, the reapective euccesaors and eseigna of I.ender and Borrower, aubject to the pmvisions of paraRraph 17 hereof. All covenante and agreements of Borrower ehall be joint and aeveral. The captions and headi~ge o! the paragrapha of this Mortgage are for rnvenience only and are not to be ueed to interpret or define the provisions hereoL ~ 14. Notice. Fxcept for any notice required under applicable law tQ be given in another manner, (a) any notice to Borrower provided forin thie Mortgage ahall be given by mailing auch notice by certified mail addressed to Borrower at the Property Address or at such other addr~ as Rc~rrower may designate by ~otice to Lender ae provided herein, and Ib) any noiice to l.ender ahal) be given by certified mail, retum reoeipt requested, to l.ender's addresa stated herein or to euch other addreas aa Lender may designete by notice to Borrower an pmvided herein. My notice provided for in this Mortgage ahaU be deemed to have been givcn to Borrower or I.ender when given in the manner designeted herein. 15. Uniform Mortgage; Governing I.aw; 3everability. This formof mortgagecombinee uniform oovenaots for national useand non- uniform covenante with limited variations by juriadiction to eonetitute a uniform security inetrument ouvering real property. This Mortgage shall be governed by the law of the juriadiction in which the H~perty ie lacated. In the event that any proviaion or clauee of this Mortgage or the Note contlicts with applicable 1aw, auch con0ict shall not affect other provieionB of lhis Murtgage or the Note which can be given effect without the conflicting proviaion, and to thia end the provieione o! the Mortgage and the Note are declared to be eeverable. 16. Bormwer'e Copy. fiorrower ehall be furnished e conformed rnpy o[ the Note and of thie Mortgage at the time of execution or after recordation hereof. 17.'l~anster ot the Property; Assumpiton. lf all or any part of the Property or an intereet therein is sold or tranaferred by Borrower without l.ender'a prior written conaent, excluding (a) the creation ota lien or encumbrance subordinpte to this Mortgage, (b) the creation of a purchase money security interest for household appliances, (c) a tranaler by devise, d.~ecent or by operation of law upon the death of a joint tenant or (d) the grant of any leaeehold intereet of ihree yeare or lese not containing an option to purchase. Lender may, at Lender s option. declare all the suma eecured by this Mortgage to be immedietcly due and payable. I.ender shall have waived such option to aocelerate it. prior to the sale or tranafer, [.ender and the peroon to whom tlie Property ie to be sold or traneferred reach agreement in writing that the credit otauch person ia satiafactory b I.ender and that the interest payable on the eume secured by thie Mortgage ehall be at auch rate as L.ender shali request. I[ [.ender has waived the option to accelerate provided in thia paragraph 17, and if Aorrower'a auccesaor in interest hae execvted a written aeaumption agreement accept~d in writing by t.ender, Lender ehall release E3orrower from all obligatione under thia Mortgege and the Note- If I.ender e:erciaes euch option to accelerate, I.ender ahall maii Borrower notice of acceleration in accordance with paragraph 1~ hereot 5uch notice ehall provide a period of not less than :;0 days fiom thedate the notice ia mailed within which Borrower may pay theauma declared due. If Borrower fails to pay euch aums prior to the expiration of euch period, l.ender may, without further notice or demand on borrower. ~nvoke any remediea permitted by paraqraoh IS hermf. 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 j 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. Among other things, the loan guidelines in said agreement provide as follows: "Mortgage loans, with the exception of FNA-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 ~` ~ enoK 348 PACE 1554 l ~ ~ , ~ ,:_ ~3 _ ~ _ ~-~~.~~ ~.:~~ ~,~~~. _ ., -. ~~..~: _-~-~~