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Home My WebLink About25108. I~spectioa. I.ende~ mey make or cause to be made reawnable entrie, upo~ and inspections of the pmperty. p~ovided that I.ender shaU give Borrower notice prior w a~y such inspection specityir-g reasonable cause thenfor related to l.cnder's interest in the Property. 9. Condemnetlon.'l1~e ptoceeds of any award or claim fo~ damages, direct or consequential, in connecfiq- vrith eny oondemnation o~ other taki~ of the property, or part thereof, ot [or co~veyance in lieu of oondem~ation. are hereby aeaigned and shaQ be paid to Lender. In the event ot a btal taking oi the Property, the proceede ehall be applied to the aums secured by this Mortgage, with the ezoeM. if any. paid to Borrower. I~ the event of a partial taking of the Property, unlees Borrower and l.ender otherwise agree in writing, there shall be applied W the sums secured by this Mortgege such proportion of the proceeds as is equal to that proportion which the amount of the sums secund by this Mortgage immediately prior to the date of taking bears to the fair market value of the Properiy immediately prior to the date of takinR, with the balaace of the proceeda paid to Borrower. lf the Property is abandoned by Borrowe~, or if. aRer notice by Le~der to &-rrower that the oondemnor ofters to make an award or aettle a claim for damages, Borrower fails to reepond to I.ender within 30 daye after the date euch notice ie mailed, I.eoder is authoritsd to coUect and apply the proceeds, at I.ender's option. either to restoration or repair of the pmperty or to the aums eecured by this Mortgage. Unleas Lender nnd Borrower otherwiee agree in writing, any euch application of pmceeds to principal ehall not extend or postpone the due date of the monthly inetallmenta referred to in paragraphe 1 and 2 hereof or change the amount of auch i~atallments. 10. 8orrower Not Released. Extenaion of the time for paym:nt or modification of amortization of the euma eecured by thie Mortgage granted by I.ender to any aucceasor in intemet of Rorrower ahaD not operate to release, in any manner, the liability of the origina) Borrower and Borrower a succeaaora in intereat. I.ender ahall not be required to rnmmence proceedings againat euch succeaeor or refuae to extend time [or payment ur otherwiae modify amortization of the aume~ ae~.~ured by this Mortgnge by reason of any demand made by theoriRinal E3orrower and Bonower'a succesaora in interest. 11. Forbearance by Le~der Not a Waiver. Any forbearance by I.ender in eaercieing any right or remedy hereunder, o~ otherwise af'forded by applicable law, ehall not be a waiver of or preclude the exerciee of any auch right or remedy. The pmcurement otinaurance or the payment of taxee or other liene or chargee by I.ender ahall not be a waiver of Lender e right to accelerate the maturity of the indebtedneae aecured by thia Mortqage. l2. Remedies Cumuletive. All remediee provided in thie Mortgage are distinct end cumulative to any other right or remedy under this Mortrage or afforded by law or equity, and may be exercieed ooncurrently, independently or succeesively. 13. Succeeaors and Aseigne Bound; Joint and Severat Liabi~ity; Captiona.'I~e covenanta and agreemente hernin contained ahall bind, and the righte hereunder shall inure to, the crepective eucceaeore and sesigns of Lender and Borrower, subject to the provieiona of paragraph 17 hereof. All covenants and agreementa uf fiorrower shall be joint and aeveral_ The captions and headings of the paragraphs of this Morigage are for covenience only and are not to be used to interpret or define the provieione hereoL ~ 14. Notice. F.xcept for nny notice required under applicable law to be given in another manner, (a) any notice to Ebrrower provided forin this Mortgage ahall be given by mailing euch notice by certified mail addressed to E3orrower at the Property Addreae or at euch other addreea ae Borrower may designate by notice to Lender as provided herein. and (b) any notice to [.ender ahall be given by certified mail, retum receipt requeated, to t.ender's addresa stated herein or to $uch other addreae as [.ender may deaignate by notice lo Borrower ax provided herein. Any notice provided for in thia Mortgage ahall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law; Severebility.7l~ia form of mortgagecombinea uniform rnvenantn for national useand non- nniform covenants with limited variatione by juriadiction to rnnetitute a uniform eecurity inatrun~ent rnvering real property. Thie Mortgage shall be governed by the law of the juriadiction jn which the Property is locattd. In the event that any proviaion or clauae of thie 111ortgage or the Note conflicta with applicable law, such conflict ahall not at~ect other proviaions of this Murtgage or the Note which can be qiven effect without the conilictinq provision, and to thia end lhe proviaio~s of ihe Mortgage and the Note arn declared to be severable_ 16_ Borrower'e Copy. Borrower ahaU be furniahed a conformed rnpy of the Note and of thia Mortgage at the time of execution or after recordation hereof. 17. 'I~aneter ot the Property; Aseumption. If all or any part of the Property or an intereat therein ia sold or traneferred by Borrower without I.ender s prior written rnnsent, excluding (a) the creation of a lien or encumbrance subordinate to thia Mortgage, (b) the creation of a purchase money secnrity intereet for houeehold appliancea, /c) a tranefer by devise, deecent or by operetion of law upon the death of a joint tenant or (d) the grant of any IeaHehold intereat of three years or leae not rnntaining an option to purehase, Lender may, at Lender s option, declare all the sume aecurea by this Mortgage to be immediately due and payable. Lender ehall have waived auch option to accelerate if, prior to the sale or tranater, [.ender and the peraon to whom the Property is to be sold or traneferred rnach agreement in writing that the credit of euch person is satisfactory to Lender and that the interest paynble on the suma aecured by this Mortgage shaU be at such rate as I.ender ehall request_ If lxnder has waived the uption to accelerate provided in thia paragraph 17, and if Iiorrower's succesaor in intereet has executed a written assumption agreement accepted in writinK by Ixnder, [.ender shall release Borrower from all obligations under this Mortqage and the Note. If l,ender eaercises such option tn accelerate, l.ender ahall mail Borrower notice of acceleration in accordance with paraqraph 14 hereof. Such notice shall provide a perial of nut less than :i0 days from thedate the notice is mailed within which Rorrower may pav the sums declared due. If Borrower fails to pay auc:~ sums prior to the expiration of such periud, l.ender may, without further notice or demand on Borrower, ~nvoke any remedies permitted by paraKraoh IR hereof. ;ll-R. The proceeds of the loan evidenced by the promissory note secured hereby have been procured by Lender pursua~t~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 Nousing 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 tndenture, 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 busi~ess hours of each business day. Among other things, the loan guidelines in said agreement provide as follows: "Mortqage loans, with the exception of FHA-insured or VA-guaranteed mortgage laans, may not be assumed except ~y 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 1'I-A is in conflict wi•th any part or parts of Covenant 17, supra, the terms of this Covenant 17-A shall prevail. ~ ~ ~ . BnnK 348 ~A~F 2rJ~ ~~__ ~.v_..:~ ._- -. _ 4~. ., - _ - ~~