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Home My WebLink About26768. laspection. l.ender may make or cause to be made reawnable entries upon and inspections otthe property, provided that Lender shaU give Borrowe~ ~otice prior to any such inspectio~ specifying reasonable cauue therefor celated W l.ender'~ inLerest in the Property. J. CO~IfIelpfl~~IOD. The proceeds oi any award or claim tor damage~, direct or con~eque~tial. in conncetion with any oondemnation or other taking oi the property, or paK thereof, or tor rnnveyanoe in lieu of rn~demnation. are hereby aeaigned and shall be paid to Lender. In the event of a tofal taking o! the Property, the prooced~ shall be applied b the sums secured by this Mortgage, with the escees. i[ any. paid to Aotrower. !n the event of a partial taking uf the Property, un-ess Borrower and l.ender otherwise agree in writing, there shall be epplied to the sums secured by this Mortgage such proportion oi the proceede ae ia equal to that proportion which the amount of the sums eecured by this Mortgage immediately prior to the date of taking beara to the fair market value of the Ptoperty immediately prior to the date of isking, with tlie balanc~ of the proceeds paid to Borrower. If the Property is abendoned by Borrower, or if, atter notice by I.ende~ to Borrower that the condemnor offers to make an award or settle a claim for datneges, Borrower tails to reepond to l.ender within 30 days atter the date such notice ie mailed, Lender ie authorized to rnllect and epply the proceeds, at Lenderb option. either to restoration or repai~ of the property or to the euma eecured by this Mortgage. Un-ess I.ender and Borrower otherwise agree in writing, any such application of proceeda to prinripal shall not e:tend or poatpone the due date of the monthly inetallmenta referred to in paragrapha 1 and 2 hereof or change the amount of euch in~taUmentt. 10. Borrnwer Not Releaeed. Exteneion of the time for paym~nt or modification of amortization of the sums eecured by thie Mortgage granted by I.ender to any euccesaor in interest of Borrower ahall not operate to release, in any manner, the liability of the original Borrower and Borrower'a aucceasora in intereat. I.ender ahall not be required to commence proceedings againet euch aucceasor or refuae to extend time for payment or otherwise modify amortizution of the suma secured by this Mortgage by reason of a~y demand made by theoriginal Borrower and E3orrower's aucY~essorx in interext. t I. Forbearance by I.ender Not a Waiver. Any forbearance by l~ender in e:ercising any right or remedy hereunder, or otherwiee afiorded by applicable law, shall not be a waiver of or preclude the exerciae of any euch right or remedy. The pmcurement of ins~uance or the payment of ta~ces or other liena or chargee by l.ender ahall not be a waiver of I.ender'e right to accelerate the maturity of the indebtedness aecured by thid Mortgage. 12 Remedies Cumulative. All remediea provided in this Mortgage are distinct and cumulative to any other right or remedy under thie Mort~age or afforded by !aw or equity, end may be exercieed concurrenUy, independently or euccesaively. 13. 3ucceeeora and Aseigne Bound; Joint and Several Liability; Captione. The covenanta and agreements herein contained ehall bind, a~d the righta hereunder ahall inure to, the respective aucceseora and aeaigns of I.ender and Borrower, eubject to the provisiona of paragraph 171u~reof. All covenanta and agreements of E3orrower ahall be joint and aeverai. The captions and headinga of the paragrapha of thia Mortgage are tur covenience only and arn not to be uaed to interpret or define the proviaiona hereof. 14. Notice. l:xcept for a~y notice required under npplicable lnw to be given in another munner, (n) any notice to Borrower provided forin this Mortgage shall be given by mailing auch notice by certified mail addresaed to Borrower at the Property Addresa or nt auch other addresa ae E3orrower may deeignate by notice to I.ender as provided herein, and (b> any notice to I.ender shall be qiven by certified mail, return receipt requeated, to t.ender'a addresa atated herein or to euch other addreae as I.ender may deaignate by notice to Borrower ae provided herein. Any notice provided for in this Mortgage ahall be deemed to have been givcn to Borrower or I.ender when given in the manner deaignated herein. 15. Uniform Mortgage; Governing I.aw; Severability. This torm of mortgage combinea uniform covenante for national use and non- uniform covenanta with limited variationa by juriadiction to conatitute a uniform aecurity instrument rnvering real property. Thie Mortgage shali be govrrned by the law of the jurisdiction in which the Property ia located. In the event that any provieion or clauae of this Mortgage or the Note conilicts with appiicable law, such conflict shall not affect other provisiona of this Mortqage or the Note which can be given effect without the cunflicting pmvision, and to this end the pm~isions of the Mortgage and the Note are declared to be aeverable. 16. Bflrrower'e Copy. Borrower ahall be furnished a contormed rnpy of the Note and of thia Mortgage at the time of execution or after recordation hereof. 17. 'ltiranefer of the Property; Aseumption. If all or any part of thc Property or an interest thernin is aold or tranaferred by Borrower ~ ~6vithout I.ender a prior written consent, excluding (a) the creation of a lien or encumbrance eubordinate to thia Mortgaqe. (b) the creation of a ~~ purchase money aecurity interest for houaehold appliancea, (c) a transfer by devise, d~ec.-ent ar 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 rnntaininq an option to purchase, I.ender may, at Lender e option, ~ f,~ ~ declare ail the aums secured by this Mortgage to be immediately due and payable. I.ender ahall have waived such option to accelerate if, prior to the sale or tranafer, I.ender and the pereon to whom the Property is to be sold or transf~rred reach aRreement in writing that the credit of such person is satisfaMory to [.ender and that the interest payable on the sums secured by this Mortgage shall be at such rate as I.ender ahall request. If l.ender has waived the option to accelerate provided in this par8graph 17, and if E3orrovrer's auccesaor in interest has executed a written assumption agreement accepted in writing by [.ender, l.ender ahall release Bonower from all obligations under this Mortqage and the Note. " If l.ender exercises auch option to accelerate, I.ender ahall mail Bormwer notice o[ acceleration in accordance with paragraph 14 hereof. Such notice shail provide a period of not les~c than :i0daya from the date the nutice ia mailed within which Borrower may pay theaums declared due. If Borrower fails to pay auch sums prior to the expiration of such period, Ixnder may, v-ithoul turther notice or demand on E3orrower, invoke any remedies permitted by paragra~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 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 fuily 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 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 impase an assumption fee in excess of one percent of the outstanding prin~ipal 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 prevzil. ~ ~~,~K348 P~~~26`74 ~ ~ ~ - .•'.Fs$.:~~ -.\-Y, ~.~_ . . ~ . . x(. ,t. _ _ . _ _ .x ~sb~ r_.-a. . ` £ l ~