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Home My WebLink About25268. ln~pection. Lender may make or cauae to be made reasonable entrie~ upon and inspections of the pmperty, providod that l.eader ~1-all give Borwwer notice prior to any such inspection aperitying ~easonable cause the~efor related to Lender's intereat in the Property. 9. Coaderanatloa. The proceeds of any award or claim for damages, direct or consequential, in oon~ectioa w[th eny oondemaation or other takirig of the pmperty, or part thereoi. or for rnnveyance in lieu ot condemnation, en hereby aasigr-ed and shaU be paid to Lender. In the event of a btal taking ot the Property, the pmceede shall be applied to the sums eecured by this Mortgage. with the ~oew, if any, paid to Borrower. In the event of a partial tnking of the Property. unleas Borrower and I.ender otherwiee agroe in writing, there shall be applied 1o the eums eecured by this Mortgage such proportion ot the proceeds as ie equal to that proporiion which the amount of the sume secvred by thie Mortgage immediately prior u~ the date of taking beare to the fair market value of the Property immediately prior to the date of taking, with the balanca of the pmceede paid to Borrower. If the Property is abandoned by Borrower, or if, aRer notice by I.ender to Borrower that the rnndemnor offers b makc an awerd or settle a claun for damages, Borrower fails to ceapo~d to I.ender within 30 deye afte~ the date such notice is mailed, Lender is authorized to collect and apply the proceeds, at Lendes's optio~, either b reetoration or repair of the pmperty or to the sume eecured by this Mortgage. U~leee l.ender and Borrower otherwiee agree in writing, any such application of proceeda to prinripal ehall not extend or poetpone the due date of the monthly inatsliments referred b in paragraphs 1 and 2 hereof or change the aawunt of such installments. 10. Borrower Not Releaeed. Exteneion of the time for paym~nt or modificatiun of c~~nortizatio~ of the eume eecured by thie Mortgege granted by l.ender to any auc~.-easor in intereet of Rorrower ehall not operate to release, in any manner, the liability of the original Borrower and Borrower'a succeasore in intereat. I.ender ahall not be required to rnmmence proceedings againat such auccesaor or ~efuee to extead time for pay~nent or otherwise modify amoriization of the auma aecured by this Mortgage by reason of any demand mude by theoriginal Borrower and Born,wer ~ succesaura in interest. 1 t_ Forbearance by Lender Not a Waiver. Any [orbearance by l.ender in e:ercising any right or remedy hereunder, or otherwiee afforded by ap~licahle law, ehall not be a waiver of or preclude the exerciee ot any euch right or remedy. The pmcurement of ineurence or the payment of taxee or other liena or ch~~6y (.ender ahail not be a waiver of I.ender s right to accelerate the maturity of the indebtedneas secured by thie Mortgage. 12 Remedies Cumuletive. All remedies provided in thie Mortgage are distinct and cumulative to any other right or remedy under thia Mortrage or afforded by law or equity, and may be exercise~l concurrently, independently or eucceseively. , 13. Succeseore and Aseigne Bound; Joint and Several Liability; Captions. The covenanta and aRreementa herein rnntained ahall bind, and the rights hereunder shalt inure to, the respective aucceasora and assigne of Lender and Borrower, aubject to the pmvieione of paragraph 17 hereof. All covenants and agreemente of Borrower ahall be joint and several. The captiona and headings of the paragraphe of thie Mortgage are for covenience only and are not to be ueed to interpret or define the proviaione hereof. 14. Notice. Except for a~y notice required under applicable law to be given in anather manner, (a) any notice to E3orrower provided forin thia Mortgage shall be given by mailing auch notice by certified mail addreased to Eionower at the Property Addresa or at euch other addreee as Borrower may designate by notice to I.ende~ as provided herein, and (b) any notice to Lender ahall be given by certified mail. retum receipt requeated, to I.ender'a addreas atated herein or to auch other addreas as [.ender may deaignate by notice to Borrower an provided herein. Any notice provided for in this Mortgage ehall be deemed to have been given to Borrower or l.ender when given in the manner designated herein. 15. Uniform Mortgege; Governing Law; Severebility. Thie form of mortgagecombines uniform covenants for national ueeand non- uniform covenants with limited variations by jurisdiction to conatitute a uniform security instrument rnvering real property. Thia Mortgage shaU be governed by the law of the juriadiction in which the Property is located. In the event that any provinion or clauae of thie 111ortgage or the Note conflicts with applicable law, auch contlict ahall not aftect other provisions of this Mortgage or the Note which can be given eftect without the contlicting pmvision, and to this end the proviaions of the Mortgage and the Note are declared to be severable. 16_ Borrower'e Copy. Borrower ehaU be furniahed a contormed copy of the Note and of thia Mortgage at the time of e:ecntion or after recordation hereof 17. Tranafer of the Property: Aseumption. I[ all or any pari of the Property or an interest therein ia sold or transferred by Borrower without Lender's prior written conaent, excluding (a) the creation of a lien or encnmbrance eubordinate to this Mortgage. (b) the creation of a purchase money security interest for household appliances, (c) a transfer by devise, descent or by operation of law upon the death of a joint tenant or (d) the grant of any leasehold intereat of three years or leae not containing an option to purchaxe, I.ender may, at I.ender a option. declare all the aums aecured by this Mortgage to be immediately due and payable. Lender ehall have waived such option to accelerate if. prior to the sale or tranafer, [.ender und the person to whom the Property is to be sold or lranaferred rnach agreement in writing that the credit of euch person ia satisfactory to Lender and that the interest payable on the suma secured hy this Mortgage shal) be at such rate as [.ender ahall request. I[ Ixnder has waived the option to accelerate provided in this paragraph 17, and if f3orrower'a succeasor in intereat hae executed a written assumption agreement accepted in writing by l.ender, [.ender ahall releasr Borruwer from all obligationb underthis Mortgage and the ,\ ote. If [.ender exercises such option to accelerate, I.ender shall mail Rorrower notice of acceleration in accordance with paragraph 14 hereof. Such notice ahall provide a period of not less than 30 days from the date the notice is mailed within which Borrower may paY theaums declared due. If Borrower fails to pay such sums prior to the expiration of such period, t.ender may, without further notice or demand on liorrower, invoke any remedies permitted by paraQraoh 1R 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 Ho~sing Finance Authority of St. r ucie County, Florida, in said Agreement having been assigned to FLORIDA NATIONAL BANK OF ~AMI, Florida, as Trustee under a trust indenture from said Housing Finance Authority of ~y St. Lucie County, Florida. Under the terms of `said Loan Agreement which expires at such ~ J-, time as all the Bonds shall have been ful ly paid or provision made for such payment pursu- J~~~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, Nousing 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 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. I ~ ~ _ ~~`~3~8 ~~~E252~ ~ s:~ ~ _ - _= _~.{~~. }_ -_ : .. _~ _ ~w _