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Home My WebLink About1658•t 8. Ia~pecttoa. Lender may make or cawe to be made reawnable e~tries upor- and inspectio~~ o[the property, pmvi3ed that I.ender ~hall ~ive Botrower notice prior to any such in~pectio~ specifying reasoneble cawe therefor relatrd to [.endei s interest in the Property. 8. Condomn~tioa.'!~e proceedi of atry ewsrd or ctaim for demage~. direct or rnnsequential, in rnnnection with eny oondemnatioa or other teking of the property. oe part lhereof. or for coaveyance in lieu of oondemnation. are hereby aeaigned and shall be paid ~o Lendes. In the event of a total taking of the Peoperty, the pmcceds sha11 be epplied to the sums secured by this Mortgags, with the e:cess. ii any. paid to Borrower. ln the event of e pertial saking o[ the Pn,perty. unlees Borrower and I.endeT otherv-ise agree in writing~ then ahall be applied to the sums secured by this Mortgage euch proportion of the proceeds as is equal to that pmportion which the amount of the swns ~ecured by this Mortgage immediately prior to the date of taking bean to the fair market value of the Pmperty immediately prior b thedate of taking, with the balance of the pmceeds paid to Borrower. If the Property is abandoned by Borrower. or if. aRer notioe by Lender to Borrower that the oondemnor o~ers to make an award or setde a claim for damages, Borrower fails Lo respond b Lender within 30 daye after the date auch notice is mailed. t.ender is authorised to collect and apply the proceede. at Lender e option. either to restoration or repai~ of the pmperty or to the sums secured by this Mortgege. Unless Lender and Borrower otherwise agree in writing, any euch application of proceeds to principal shall not extend or poetpone the due date of the monthly inetallments referred to in paragraphs 1 and 2 hereof or change the amount of such installments. 10. Borrower Not Released. Extenaion of the time for paym~nt or modification of amortization of the auma secured by this Mortgege qranted by l.ender to any eucceaeor in intereet of Borrower ahall not operate to releaae, in any manner, the liability of the original Borrower and Bor~owei s successore in intereat. I,ender ahall not be required to oommence proceedinga against euch auecesaot or refuae to extend time for payment or otherwise modify amortization of the sume secured by thia Mortgage by reason of any demand made by theoriginal Boirower aod E3oROwei s succeasorx in interest. ~ 11. Forbearance by I.ender Not a Waiver. Any forbearance by I.ender in e:erciaing any right or remedy hereunder, or otherwiee af~orded by applicable law, ehall not be a waiver of or preclude the e:erciee of any such right or remedy. The pmcurement of ineurance or the payment of te~ea or other liene or charge~s by l~nder ahall not be a waiver of Lender's right to accelerate the maturity of the indebtedneas eecured by thie Mortgage. ° 12 Remedies Cumulative: All remedies provided in this Mortgage are distinct and cumulative to any other right or remedy under this Mortrage or afforded by law or equity, and may be e:erciee~l ooncurrenUy, independently or euccessively. 13. 3ucoeaaore and Asaigns Bound; Joint and Several Liability; Captione. The rnvenante and agreemente herein rnntained ahall bind, and the righta herennder ehall inure to, the reapective eucceaeora and aseig~-a of Lender and Borrower, subject to the provieione of paragraph 17 hereoL All covenants and agreementa of Borrower ahall be joint and eeveral. The captiona and headings of the paragrapha of thie Mortgage are for rnvenience only and are not to be used to interpret or define the pmvieiona hereof. 14. Notice. Except for aay notice required under applicable law to be given in another manner, (a) any notice to Horrower provided for in this Mortgage shall begiven by mailing such notice by certified mail addreeaed to Borrower at the Property Addresa or at euch othe~ addreee ee Borrower may deeignate by notice to [.ender as provided hernin, and (b) any notice to l.ender shall be given by certified mail, return receipt requeeted, to l.ender e address atated herein or to auch other address ae l.ender may deeignate by notice to E3orrower an provided herein. Any notice provided for in this Mortgage shall be deemed to have been given to Born-wer or l.ender when given in the manner designated herein. 15. Uniform Mortgage; Governing l.aw; Severability. Thie form of mortgage combines uniform oovenante fo~ national uae and non- uniform covenants with limited variations by jurisdiMion to mnstitute a uniform eecurity inatrument rnvering real property. This Mortgege ahal) be governed by the law of the juriadiction in which the Property is located_ In the event that any provieion or clauae of this Mortgage or the Note conflicts with applicable law, auch con0ict shall nut affect other proviaione of this MurtRage or the Note which can be given effect without the conflicting proviaion, and to this end the provisiona of the Mortqage and the Note are declared to be aeverable_ 16. Borrower'e Copy. Borrower ahali be furniahed a con[ormed rnpy of the Note and of thia Mortgage at the time of e:ecution or after recordation hereof. 17.'I~anster of the Property; Aseumption. It all or any part of the f'roperty or an interest therein is eold or traneferred by Borrower without I.ender s prior written consent, e:cludinq (a) the creation of a lien or encumbrance subordinate to thie Mortgage, (b) the creation of a purr!-ase money security intemat for houaehold applinnces, (c) a tranefer by deviae, d~eoent or by operation of !aw upon the death of a joint tenant or (d) the grant of any leasehold intereat of three years or lese not containing an option to purchase, Lender may, at Lender s option, declare a11 the auma eecured by thie Mortgage to be immediately due and payable. Lender ahall have waived auch option to accelerate if, prior to the eale ur tranefer, Lender and the peraon to whom the Property ia to be sold or tranaferred reach agreement in writing that the credit of auch person is eatisfactory to Lender and that the interest payable on the sums aecured by this Mortgage ahall be at auch rate as I.ender shall requeat. If Lender has waived the option to accelerate providecl in thie paragraph 17, and if Borrower s succesaor in intereat haH executed a written assumption agreement accepted in writing by Ixnder, Ixnder ahall release Borrower from all obliQations underthia Mortgage and the Note. If l.ender exerciaes auch option to accelerale, l.ender shall mail Korrower notice of acceieration in accordance with paragraph 14 hereof. Such notice ahall provide a period otnot lesa than :30 davs from the date the notice is rr.niled within which Borrower may paY the auma declared due. If Borrower fails to pay auch sums pri~~r to the expiration of such period, Lender may, without further notice or demand on Horrower, ~nvoke any remediea permitte~ py 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 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 ~LORIDA 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 expire~ 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 1 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 le~al business hours of each business day. ~ Among 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 far~~ily which would have been eligible for a mortgage loan originally under these ~uidelines 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. 1 ~ . B~~K348 PAGF1657 ~ ` , - ~ ; ~ ~ -~ ::~ - - ~ ~ ~~.~~ n ~. ~x _~ . .. ._.. _ ~ . , ~ Y