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Home My WebLink About19138. In~pectioa. Leader may make o~ cause to be made reawnsble e~trie~ upon and inspections of the property, pmvided that Lender ~he~U give Borrower notics prior to eny such inipection specifying reasonable cause therefor related to l.ender's interest in the Propesty. 9. Coadeatnatlon. 7?~e p~oceeds of any award or claim for dameges. dinrt or consequential. i~ connection with any cundemnation or other takir~g of the property, or part thereof, or [o~ conveyance in lieu of oondemnatior-, are henby a~sigaed and ~ha,U be paid to I.ender. In the event of a total taking of the Property, tAe proceede shall be apptied b the sums secured by thie Mortgage, vr~th the excbes, ii any. paid to Borrower. In the eve~t ot a partisl taki~g of the Property. unlees 8orrower and L.ender otherwiae agree in writing, there shall be applied to the aums secund by this Mortgage such proportion of the proceeds as is equal to thet pmportion which the amount of the sums secured by thie Mortgage immedistely prior to the date of taking bears io the fair market value of the Property immediately prior to thedate of taking. with the balanca of the procecde paid to Bo~ower. If the Property is abe~doned by Borrower, or if, aRer notice by l.ende~ to Borrower that the oondemnor offers b make an award or setde a claim for damages, Borrower fails to reepond to l.ende~ within 30 daye after the date auch notice is mailed, [.ender is authorised to coqect and apply the pmceeds, et l.ender s option, either b nstoration ur repair ot the property or to the sume eecured by thie Mortgege. Unlesa Lender and Borrower otherwise agree in writing, any auch application of proceede to principal shall not extend or poetpone the due date of the monthly installments re[erred b in paragraphe 1 and 2 hereof or change the amount of euch installmenta. 10. Borrower Not Releaeed. Extensioa of the time tor paymant or modification of amortization ot the aums aecured by this Mortgage granted by Lender to any eucceaeor in intereat of Rorrower ahall not operate to release, in any manner, the liability of the original Borrower and Borrower's auccessora i~ intemet. l.ender shall not be required to rnmmence proc.~eedinga againet auch eucceeaor or refuee to extend time for payment or otherwise modify amortization of the auma aecured by this Mortgage by reason of any demand made by theoriginal Borrower and E3orrower's auccesaora in intereat. 1 l. Forbearance by Lender Not a N-aiver. Any forbearance by I.ender in e:ercieing any right or remedy hereunder, or otherwiee afforded by applicable law, shall not be a waiver of or preclude the e:erciee of any auch right or remedy. The pmcurement of ineurance or the payment of taxee or other liens or charges by I.ender ehall not be a waiver ot I.ender s right to accelerate the maturity of the indebtedneas aecured by this Mortgage. ' • ' • • 12. Remediee Cumulative. All remedies provided in thia Mortgage are diatinct and cumulative to any other right or remedy under this Mortrage or afforded by law or equity, and may be e:erciae.i ooncurrenlly, independently or aucceseively. 13. Succeaeors snd Asaigne Bound; Joint and Several Liability; Captione. The rnvenante and aqreementa herein rnnteined shall bind, and the riqhts hereunder ahaU inure to, the reapective succeseors and eaeigne of l.ender and Borrower, eubject to the proviaiona of paragraph 17 hereof. All covenanta and agreements of Horrower ehall be joint and eeveral. The captions and headings of the paregrapha of this Mortgage are for covenience only end are not to be used to interpret or define the provisiona hereof. 14. Notice. Except for any notice required under applicable law to be given in another manneT, (a) any notice to E3orrower provided torin thie Mortgage ehall begiven by mailing such notice by certified mail addreaeed to Borrower at the Property Addreasor at auch other addrese as Borrower may deaignate by notice to I.ender as provided hernin. and (b) any notice to l.ender ahall be given by certified mail, return receipt requeaced, to I.ender a addreas stated herein or to auch other address ae Lender may designate byr~notice to Borrower ax provided herein. Any notice pmvided for in thie htortgage ahall be deemed to have been given to Borrower or I.ender when given in thc manner designated herein. 15. Uniform Mortgege; ~overning Law; Sevecability. Thia form ofmortgaqe combinea uniform covenanta [or national uaeand non- uniform covenante with limited variationa by juriadiction to conatitute a uniform security inatrument rnvering real property.'[T~is Mortgage ahall be governed by the law of the jurisdiction in ~+hich the Property is located. In the eveot that any proviaion orclauee of this Mortgage or the Note cunflicts with applicable law, auch contlict shall not affect olher proviaions of this Murtgage or the Note which can be given effect without the conilicting proviaion, and to thia end the proviaiona ot the Mortgage and th~ Note are declared to be aeverable_ 16. Borrower's Copy. Borrower ahall be furniahed a conformed copy ot the Note and of this Mortgage at the time of e:ecution or after recordation hereof. ' , 17. Tranetcr of the Property; Ageumption. I[ all or any part of the Property or an interest therein is aold or trane[erred by E3orrower without Lender H prior written conaent, excluding (a) the creation of a lien or encumbrance subordinate to this Mortgage, (b) the creation of a purc!~ase money security interest [or houeehold appliancea, (c) a transfer by devise, deecent or by operation of law upon the death of a joint tenant or (d> the grant of a~ly leaeehold intereat ot three yeare or leas not rnntaining an option to purchaee, Lender may, at Lender a option, declare all the eums secured by this Mortgage to be immediately due and payable_ Lender ehall have waived auch option to accelerate if. pnor to the sale or tranater, Lender and the person to whom the Property is to be aold or tranaferred reach agreement in writing that the credit of auch , peraon is satisfactory to [.ender and that the interest payable on the suma secured by this Mortgage shall be at euch rate as Lender ahal! request. if Lender has waived the option to accelerate pruvided in thia paragraph 17, and if E3orrower'e aucceasor in interest has executed a '~ written assumption agreement accepted in writing by I.ender, t.enderahall release Borrower from all obligationa under thia Mortgageand the IV ote_ . It I.ender exercisea auch option to accelerate, l.ender sha11 mail i3orrower notice of acceleration in accordance with paragraph 14 hereof. I Such notice shall provide a period of not lesa than :i0 dnys from thedate the notice is rr.ailed within which Borrower may pay the sums declared i due. If Borrower fails to pay such sums prior to the expiration of Ruch period, I,ender may, without further notice or demand on Eiorrower, ~nvoke any remedies perm~tted by paraQra~h IR 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 AUTHORITY OF ST. ` i' LUCIE COUNTY, Florida, and Lender, the interest of the Housing Finance Authority of St. , Lucie County, Florida, in said Agreemen°t 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 guideli'nes 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 provi~ie as follows: ~ , "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 outstdnding 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 ~ ennK348 P~~E~.~~-2 ~ ~ ~ ~ ~~ _ ._. -.~ _ - _ ~ ~..~ ~ ~ ~_:_ ~ ~ :~~ ;~