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Home My WebLink About25148. Ia~pectloa. Lender may make or cawe to be made reaaonabie e~tries upo~ a~d i~epections of the property, provided thet Lender shaU give Bor~ower notice prior to any such inspection specifying reaeonable cause thenfw related b Lender's intereat in the Property. 9. CODdenlA6U0Il. 71ie proceeds of any award or claim tor damages, dircct or consequential, in con~ectiop with aqy oondemnation or other taking of the pmperty, or part thereof, or for conveyance in lieu of condemnation. are hereby aeaigned and shall be paid to Lender. In the event of a total taking ot the Propedy, the proceeds ahell be applied to the aume secured by this Mortgage, with the excess, ii any, paid to Borrower. In the event of a partial taki~g of the Property. unless Borrower and Lender otherwiee agree in writing. there shall be app6ed to the sums secured by this Mortgage such proportion of the proc~eds aa is equal to that proportion which the amount o! the suws secured by this Mortgage immediately prior to the date of taking bears to the tair market value of the Property immediately prior b the date of taking, with the balanca of the proceede paid to Borrower. If the Property is abandoned by $orrower, or if. aRer ~otice by Lender to Borrower that the oondemnor oPfera b make an award or setde a claim for damagee, Borrower fails to respoad to Lender within 30 days after the dete such notice is mailed, I.ender ie authorised to collect and apply the proceede, at [.ender a option, either to reabration or repair of the pmperty or to the sums eecured by thie Mortgege. U~less I.ender and Borrower otherwiae agree in writing, at~y auch application of pmceeda to principel shall ~ot e~ctend or poetpone the due date of the monthly inetallmenta referred to in paragrapha 1 and 2 he~eof or change the nmount of euch installments. 10. Borrower Not Released. Extenaion of the time for paym~nt or modification of amortization of the euma secured by this Mortgage granted by Lender to any aucceeAOr in intereat of Borrower ahall not operate to release, in any manner, the liability of the original Borrower and Borrower'a succesaore in interest. Lender ahall not be required to commence proceedinga againut auch succeseor or refuee to extend time for payment or otherwise modify amortization o[the sums aecured by this Mortgage by rnason of any demand made by the original Borrower and Borrower a suci.~essors in interest. 11. Forbearance by I.ender Not a Wai~er. Any forbearance by [.ender in exercieing any right or remedy hernunder, or otherwiee afforded by applicable lew, shall not be a waiver of or preclude the exerciee ot any auch right or remedy. The pracnrement of inaurance or the payment of ta:es or other liene or chargea by Lender ehall not be a waiver of I.ender's right to eccelerate the maturity of the indebtedneee aecured by this Mortgage. _ 12 Remediee Cumulative. All remediea provided in this Mortgage are diatinM and cumulative to any other right or remedy under thia Mortrage or afforded by law or equity, and may be exerciee~l concurrently. independently or eucceeeively. 13. 3ucceseors and Aeeigne Bound; Joint and Severa! Liability; Captione. The covenante and agreementa herein contained shall bind. and the rights hereunder ahall inure to, the reapective aucceaeora and aasigna of Lender and f3orrower, aobject to the proviaiona of paragraph-17 hereof. All covenants and agreements of Borrower shall be joint and eeverai. The captions and headinga of the paragrapha of thia Mortgage are for covenience only and are not to be uaed to interpret or define the provieione hereof. 14. Notice. Except for any notice rec~uired under applicable law to be given in amither manner, (a) any notice to Borrower provided for in this Mortgage ahall be given by mailing auch notice by certified mail addreaeed to Borrower at the Property Addreas or at such other address as Fiorruwer may deaignate by notice to I.ende~ aa provided herein, and (b) any notice to l.ender shall be given by certified mail, return receipt requeeted, to Lender's addrese stated herein or to auch other address as [.ender may deaignate by notice to Borrower as provided herein. My nodce providad for in this Mortgage ahall be deemed to have been given to Borrower or [.ender when given in the manner designated herein. 15. Uniform Mortgage; Governing I.aw; Severability.'I7~ia form of mortgagecombines uniform aovenants for national uaeand non- uniform covenanta with limited variationa by jurisdiction to constitute a uniform eecurity instrument rnvering real property. Thia Mortgage shall be governed by the law of the jurisdiMion in which the Property ie located. In the event ihat any proviRion or clauae of thie 1-lortgage or the Note conflicts with applicable law, auch conflict shall not afiect other proviaions of this MurtRage or. the Note which can be given effect without the contlicting provision, and to this end the proviaiuns of the Mortgage and the Note are declared to be severable_ 16. Borrower'8 Copy. Borrower ehall be turniahed a conformed rnpy of the Note and of this Mortgage at the time of execution or after recordation hereof. 17. Tranefer of the Property; Aeeumption. It all or any part of the Property or an intereat therein is sold or trane[erred by Borrower without Lender a prior written consent, excluding (a) the creation of a lien or encumbrance aubordinate to thie Mortgage, (b) the creation of a purehase money security interest for houaehold appliances, (c) a tranefer bg deviee, d+ecent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold interest of three yeara or lesa not rnntaining an option to purchaee, Lender may, at I.ender s option, declare aq the aums secured by this Mortgage to be immediately due and payable. [.ender shall have waived such option to accelerete if. prior to the eale or tranefer, Lender and the person to whom the Property ia to be aold or transferred rnach agreement in writing that the credit of such person is satiatactory to Lender and that the interest payable on the sums secured by this Mortgage shall be at auch rate as Lender ahall request. If I.ender has waived the option to accelerate provided in this paragraph 17, and if Borrower s successor in intereat hae executed a written assumption agreement accepted in writing by [.ender, l.endershal) release Borrower from all obliqationa under thia Mortgage and the Note. If I.ender exercises auch option to accelerate. I.ender shail mail Borrower notice of acceleration in accordance with pazap~raph 14 hereof. Such notice shall provide a period of not less than :i0 days from thedate the notice is ~r.ailed within which Borrower may pay thesuma declared due. It Borrower fails to pay such sums prior to theexpiration of such period, I,ender may, without further notice or demand on l3orrower, ~nvo remediea permitted by paraRraoh 18 hereof. ~C{ 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been pr 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 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 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 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 family which would have been eligible for a mortgage loan originally under these gui~elines 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. ! BQr~~~~ P~Gf~~~ ~ . ~ . LL _ ~ ~`~ -a-~ <..~ ~ ,. : ~ ~ `~ _ .. ~:~, ~-~