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Home My WebLink About15668. teupection. Lender may m~lce o~ cawe to be made ree~~onabls eatrie~ upoa and iiupectioru oithe property. pmvided that Leader shaU Qive Borrower notice prio~ to ~qy ~uch itupection specilSrin~ reaaoaable caws the~efor nlated to Lender'~ intereet ia ths Property. 9. Cottdemn~Noa. 71~e proceed~ of any award os claim for dame~e~. direct or corueque~tial. in coanectio~a with ~u~y oondewn~tion ~ othar taking ot the property. or part thersot. or for oonveyence in lieu ot condaanation. ars hereby a~aed and ~hsll be paid ~o Lender. In the event of a beal tekin~ oi ehe Property, ehe proceed~ shall be appGed to the sum~ ~ecured by thiu Mort~a~a with the e=oea. if any. paid to Borrower. In the event of a partial takin~ of the Property. unless Bo~rower and Lender otherwiae agrne in writin~. there sha11 be appGed to the sum~ ~ecured by thiu Mort~age such proportion of the proceed~ ai ia equal fo that pmportioa which the amoant of the suau secured by this MortgsQe immediately prior to the date of taking bears b the lair murket value of the Ptoperty immediately prior to the dAte of taking. ~rith the balana~ of the prooeeds paid to Borrower. It the Property iu abandoned by Borrower. or if, aRer notice by I.ender to Borrower that the oondemnor of~en to make an award or ~ettle a claim for damages. Borrowes fails to respond to Lender within 30 days after the date such notioe is mailed, Lendar is authorized to rnUect aad apply the proceed~. at I.ender s option. either to re~toration or repair of the pmperty or to the suau ~ecnred by t}w MortgaQe. Unleas Lender and Borrower otherwiie agree in writing. eny auch application of pe~oceed~ to principal shaU not e:tend or pwtpone the due date oi the monthly instaAments referred to in paragraphs 1 and 2 hereof or change the amount of ~uch instaUme~ta. 10. iiorrower Not Releaeed. Extension of the time for paym~nt or modification of amortization of the eume secured by this Mortgage ~srantcd by l.endar to any succeasor in interest of Borrower ahall not operate to release, in any manner, the liability of the origi~al Borrower and Borrower's succeaeoro in interea~ l.e~der shall not be required to oommence proceedings againlt such euccessor or nfuse to extend time for payment or oLherwise modify amortizetion of the euma secured by this Mortgage by reason of any demand mede by the original Borrower and Borrower'p eucce.swre in interest. 11. Forbearance by Lender Not s Waiver. My forbearance by Lender in exercieiag any right or remedy henunder. or otherwise at~crded by applicable law, shall not be a waiver of or preclude the e:ercise of any such right or remedy. The pmcurement of ina~uance or the payment of Lases or other lieru~ c~,ch#r~e~ by Lender ehall not be a waiver of Lender'a right to aooelerate the maturity of the indebtedneas secured by this Motegage. . . •-..~. ~ ^ , 12 Remedie~ Cumalative. All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under thi~ Mortrage or aftorded by law or equity. tind may be e:rrcise.l ooacnre~enUy. independently or aucreesively. 13. $uccesso» and Asaign. Bound; Joiat aad 3everal Liability; Captions. The covenants and agreemente herein aontained shall bind, and the rights hereunder shall inun to. the respective succesaors and as~igna of Lender and Borrower. aubject to the provieions of paregraph 17 hereof. Ali covenanta and agreements of Borrower shall be joint and eeveral. The captiona and headinga of the peragraphs of this Mortgage are for rnvenience only and an not to be used to interpret or define tbe pravisions hereof. ' 14. Notice. Except fo~ any notice required under applicable law to be given in another manner, (a) any notice to Borrower pmvided for in this Mortgege ahall be given by mailing such notice by certi6ed mail addcessed to Borrower at the Property Addrees or at euch other addnss ea Borrower may deeignate by notice to Lender as provided herein, and (b) any notice to Lender shall be given by cerlified mail, return receipt requeated, to Lender's addrees stated herein or to such other eddress as Lender may designate by notice to Bormwer ae ptovided henin. My notice provided [or in this Mortgage ahall be deemed to have been give~ to Borrower or Lender vehen given in the manner designated herein. 15. Uniform Mortgage; Goveming I.aw; Severability. Thia form otmortgagecombinee uniform oovenants tor national use and non- uniform covenanta with limited variations by juriadiction to conatitute a uniform aecurity inatnuuent oovering real property.'R~is Mortgage shall be governed by the law of the jurisdiction in which the Property ie located. In the event that any provinion or clauee of this Mortgage or the Note conflicta with applicable law, auch conflict shall not at~ect other provieions of this Murtgage or the Note which can be given effect without the rnnAicting proviaion, and to this end the provieiona o[ the Mortgage and the Note are declared to be severeble. 16. Barrower's Copy. Borrower sha11 be furniahed a conformed rnpy of the Note and o[this Mortgage at the time of e:ecution or after recordation hereof. 17. Transter of the Property; Aeeuinption. I[ ell or any part of the Property or an intereat therein is sold or trana[erred by Borrower without l.ender'a prior written rnneent, ezcluding (a) the creation of a lien or encumbrance aubordinate to this Mortgage. (b) the creation ot a purchaee money eecurity intereat for houeehold appliancea, (c) a tranafer by devise, drscent or by operation of law upon the death of a joint " tenant or (d) Lhe grant of any leasehold intereat of three yeare or leee not rnntaining an option to purchase, I.ender may, at Lender s option, declare all the auma securea by this Mortgage to be immediately due and payable. Lender ehall have waived auch option to aocelerate if, prior to the sale or transfer, Lender and the person to whom the Property ie to be aold or tranaferred reach agreement in writing that the credit of auch person is eatiafactory to Le~der and that the intereat payable on the auma secured by this Mortgage sha11 be at auch rate as Lender ehall request. I[ I.er-der has waived the option to accelrrate provided in thia paragraph 17, and if l3orrowei s eucceaeor in intereat haa e:ecuted a writlen asaumption agreement accepted in writing by [.ender, Lender ehal) releaee Borrower from all obligations underthia Mortgage and the Note. • It Lender exercises auch option to accelerate, Ixnder ahall mail Borrower notice of acceleration in accordance with paragraph I~ hereof. 5uch notice ehall provide a period of not less than 3Q daya from thedate the notice ia rr.ailed within which Borrower may pay the aums declered due. If Borrower tails to pay euch sums prior to the expiration of auch periud. I.ender may, without further notice or demand on F3orrower, ~nvoke any remediea permitted by paragraoh lEi hermf. 17-A. The proceeds of the loan evidenced by the promissary note secured hereby have been procured by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTNORITY 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 s 11 automatically accelerate all remaining unpaid installments remaining due under the omissory note secured hereby. A copy of the Loan Agreement is on file.with Lender, ,t' ousing Finance Authority of St. Lucie County, Florida, and Florida National Bank of Miami, j vailable for examination by any party during legal business hours of each business day. ~('~ ong other things, the loan guidelines in said agreement provide as follows: ~~- "Mortgage loans, with the exception of FHA-insured or VA-guaranteed mortgage ~ ]oans, 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 11-A is in conflict with any part or parts of Covenant l7, supra, the terms of this Covenant 11-A shall prevail. ~ 8~~x 348 PACE~566' ~ ~ _ . -_ - .~~ ::P;,,,~~ A = ~ . _ . . - ~, .. .;~ .,x ~.~~~~.~ .:~.~~ :~:, . _