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Home My WebLink About16628. Ia~pectIoa. Lender may make or cauae to be made reawnable entrie~ upon and ia~pectiona of the pmperiy, provided that Lender ~hall ~ive SoROwar notice prior to any such in~pection specifying reasonable cawe therefo~ releted to l.endu's intereat in the Property. 9. Condemnatloa. The proceeds of any award or claim for damages, direct or rnn~equential. in connection with sny oond~nnation or other taking oi the prop~ty. or part thereof. or for conveyeu~oe in lieu of co~demnation, are henby assi~ned and ~haU be paid to Lender. [n the eve~t of a total taking of the Property, the proceeds shall be applied to the sums secund by thie Mortgags, with the esces~. if any. paid to Borrower. In the eve~t of a partial taking of the Pcoperty. unless Borrower and l.ender otherwise agree in writing. there shell ba spplied W the sums eecund by this Mortgage such pmportion ot the procceds aa ia equal to that pmportion which the amount of the swas secured by thia Mortgage immediately prior to the dete oi taking bean to the isir market value of the Propetty uamediately prior to the dete of takins. with the balanca of the proceede paid to Borrower. If the Property ie abandoned by Borrower, or if, aRer notioe by Lender to Borrower that the rnndemnor oE~ers to make an award or settle a claim for damages, Borrower fails to reapond to Lender within 30 daye after the date such notice is mailed. Lender is auLhorized to collect and apply the proceeds, at l.ender a option, either to reetoralion or repair ot the property or to the eums secured by this Mortgage. Unlees Lender and Borrower otherariee agrne in writing, any such application of proceeds to principal shall not e:tend or pwtpone the due date of the monthly inst~Aments refern+d to in paragrephs 1 and 2 hereof or change the amount of snch inatellmeats. 10. Borrower Not Released. Extenaion of the time for paym~nt or modification of amortization of the auma secured by this Mortgage Ecranted by I.ender to any aucceseor in intereat of ~rrower ehall not operate to release, in any manner, the liability of the original Borrower and Borrower's succesaora in intereet. l.ender ahall not be requind to rnmmence proceedinRs againet euch aucceseor or refuse to extend time for payment or otherwise modify amortization of the sums aecured by this Mortguge by rnason of any demand made by theoriginal Eiorrower and Borrower's Aucce~+aurs i~ intereat. 11_ Forbearaace by I.ender Not a Waiver. Any forbearance by Lenderin eaercieing any right or remedy hereunder, or otherwiee af~"orded by applicable law, ehaU not be a waiver of or preclude the exerciee otany euch right or remedy. 7'he pmcurement of inaurance or the payment of tauee or other liens or chargee by Lender shall not be a waiver of Lender s riqht to accelerate the maturity of the indebtednees aecured by thia Morfgege. 12 Remediea Camulative. All remediee provided in this Mortgage are diatinct and cumulative to any other right or remedy under thia Mortrage or afforded by )aw or equity, and may be exercise~i aoncutrenUy, independently or aucceesively. 13. 3ucceseore sad Aaeigne Bound; Joint and 3everal Liability; Captio~e. The rnvenanta and agreements herein oo~tained ehall bind, and the righte hereunder ahall inure to. the reapective eucceseore and aeaigne of I.ender and Borrovrer, aubject to the provieiona ot paragraph 17 hereof. All rnvenants and agreemente of Borrower ahall be joint and several. The caplions and headinge of the paragrephs of thie Mortgage are for covenience only and are not to be ueed to interpret or define the provisione hereof. 14. Notice. Except for aay notice required under applicable law to be given in another manner, (a) any notice to Borrower provided for in thia Mortgage shall be given by meiling such notice by certified mail addreaeed to Borrower at the Property Adriresa or at auch other addrese as E3orrower may deaignate bv notice to [.ender ae pmvided herein, and (b) nny notice to I.ender ahall be given by certified mail, return receipt requeated, to Lender e address atated herein or to auch other addreaa as Lender may designate by notice to Borrower ax provided herein. My nolice provided for in this Mortgage shall be deemed to have been given to Borrower or l.ender when given in the manner designated herein. 15. Uniform Mortgage; Governing I.aw; Severability. Thia form ofmortgaqecombinea uniform oovenante for national ueeand non- uniform covenanta with limited variationa 6y jurisdiMion to rnnatitute a unitorm eecurity instrunient covering real property. This Mortgage ahall be governed by the law of the juriadiction in which the Property is located. In the event that any proviRion or clauae of this Mortgage or the Note conilicta with applicable law, such conflict ahall not aflect other proviaions of this Murtgaqe or the Note which can be given effect without the contlicting provision, and to this end the pmvieiona of the Mortgage and the Note are decland to be aeverable_ ' 16. Bflrrower'e Copy. Borrower ahall be furniehed a con[ormed rnpy of the Note and of this Mortgaqe at the time of execution or after recordation hereof. - 17. Tranefer ot the Property; Assumption. lf all or any part of the Property or an intereat therein ia eold or tranaferred by Borrower without Lender'a prior written coneent, excluding (a) the rreation of a lien or encumbrance aubordinate to thia Mortgage, (b) the creation of a purchase money aecurity intereat for houaehold appliancea, (c) a transfer by deviee. d~scent or by operation of law upon the death of a jaint tenant or (d) the grant of any leasehold interest of three yesrs or leae nut rnntaining an option to purchaee, Lender q-ay. at Lender a option. declare all the aums secured by thia Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if, prior to the sale or trane[er, I.ender and the person to whom the Property ie to be sold or traneferred reach agreement in writing that the credit of such I, peraon is satiafactory to l.ender and that the interest payable on the sume secured by this Mortgage shall be at s~tch rate ae I.ender ehall request. If [.ender has waived the option to accelerate provided in this paraqraph 17, and if ~3orrower'a auccessor in intere8t has executed a written asaumption agreement accepted in writing by I.ender, Lender shall release Sorrower from all obligations under thia Mortgage and the i Note_ ~ If Lender exercisea such option to accelerate, l.ender ahall mail E3orrower notice of acceleration in accordance with paragraph 14 hereoL ~ Such notice ahall provide a period of not lesa than 30 daya from the date the notice is mailed within which Borrower may pay the auma declered due. If Borrower faila to pay such suma prior to the expiration ot auch period. I.ender may, without further notice or demand on ~3orrower, ( ~nvoke 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 Agreement between NOUSING 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 ~ hall automatically accelerate all remaining unpaid installments remaining due under the romissory 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 FFiA-insured or YA-guaranteed mortgage loans, may not be assumed except by a person or family which would have been ~ eligible for a mor±gage 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. ~ ~ Bnr~~348 racE1~~ a ~ ~ R...na~.L i1 .. ... n . .. , ~ _ .:2 _ - a w- :iH~