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Home My WebLink About28908. In~peMfon. l.ende~ may make o~ cause to be made eeasonaDle entrie~ upon end irupeclion~ of the pmperty, provided that i.ender ahall Rive Borrower natice prior to any such inspection sp~ritying reasonable cawe there[or related to I.ender i interest in the Property. 9. Coademnation. 7T~e proceeds of any eward or claim for damage~, direct or conseque~tial. i~ connection with any oondemnation or other tekin~ ot the pmperty, o~ part thenwf, or for rnnveyance in lieu of o~ndemnation, ae~e hereby as~i~ned ~ad shali be paid tu I.ender. [n the event oi a total taking of the Property, the proc.Yede ehall be applied to the euras secured by thia Mortgage. with the e:~st, it eny. paid to BoTrower. In the event o! a partial taking of the Property, unleea Borrower and Lender otherwiae agree in writing, there shall be applied W the aums secured by thie Mortgage such proportion of the proceeds as u equal eo that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of takir-g bears to the tair market velue of the Properiy immediately priorto the date of taking, with the balancY of the procceds paid to Borrower. It the Prope~ty ie abandoned by Borrower, or if. aRer notice by l.ender to Borrower that the oondemnor ofters to make an award or setde a claim [or dameges~ Borrower [ails to respond to l.ender within 30 days after the date auch notice is mailed. I.ender ie authorised b rnllect end apply the proceeds, at I.ender's option, either to restoration or repair of the property or to the sume secu-ed by this Mortgage. Unleee Lender and Borrower otherwise agree in writing, any euch epplication of pioceeds to principel ahall not extend or postpone the due date of the monthly inatallments referred to in paragraphs 1 and 2 hereof or change the amount of euch installments. 10. Bsrrower Not Released. Bxtenaion of the time for paym~nt or modification of amort~zetion of the sums eecured by this Mortgage granted by l.ender to any aucceasor in intereat of Borrower fhal) not operate to release, in any manner, the liability of the original Borrower and Eiorrowet a succeaeore io intereat. I.ender ahall not be required to commence proce..dinga againat auch aucceasor or refuee to extend time for payment orot!~erwise modify amortization oithe sums secured by this Mortgage by reason otany demand made by theoriginal E3orrowe~ and Borrower's auccesenrx in interest. ~ ' 1 I Forbearaace by l.ender Not e Waiver. Any to~bearance by I.ender in exerrising any right or remedy hereunder, or otherwiee at'forded b~ appticable law, shall not be a waiver of or preclude~the e:ereiae ot any auch right or remedjr. The pmcurement of inaurance or the payment of tauea or other lie~s or chargea by Lender ahall not be e waiver of L.endei a right to accelerate the maturity of the indebtedneae aecured by thie Mortgage. 12 Remediee Cumulative. All remedies provided in this Mortgage are diatinct and cumutative to any other right or remed_v under thie Mortrage or aftorded by law or equity. and may be exerciee~i rnncurrently. independently or eucceeaively. 13. Succeesore and Aaeigne Bound; Joirtt awd6e~eral Liability; Captione. The covenanta and agreementa hemin rnntained ahall bind, and the righta hereunder ahall inure to, the reapective aucv.~eeaors and asaigna of L.ender and Borrower, aubject to the proviaione of paragraph 17 hereof. All covenants and agreementa of Borrower ahall be joint and eeveral. The captiooa and headinga of the paragraphe of thia Mortgage are for covenience only and are not to be uaed to interpret or define the provieions hereof. 14. Notice. Fxcept tor a~y notice required under applicable law to be given in another manner, (a) any notice to Borrower provided forin thia Mortgage shall be given by mailing such notice by certified mail addreaeed to Borrower at the Property Addreea or at auch other addreae ae E3orrower may designate by norice to [.ender as provided hernin, and (b) any notice to Lender ahall be given by certi6ed mail, return receipt requeated, to Lender'a addresa stated herein or to auch other addreas as Lender may designate by noticp to Borrower aR provided herein. Any notice pmvided for in this Mortgage shall be deemed to have been given to Borrower or Lender when given in the manner designated herein. 15. Uniform Mortgage; Governing Law; Severability. Thia form of mortgagecombines uniform covenante for nalional use and non- uniform covenante with limited variations by jurisdiction to conatitute a uniform security inatrument covering real property_ This Mortgage shall be governed by the law of the jurisdiction in which the Property is located. In the event that any provision or clause of this Atortgage or the Note conflicts with applicable law, auch rnnflict shall not afTect other proviaions of this Mortgage or the Note which can be given effect v~-ithout the contlicting pro~~aion, and to this end the provisiona ot the Mortgage and the Note are declared to be aeverable. 16_ Barrower'e Copy. Borrower shail be furniahed a conformed copy of the Note and of thia Mortgage at the time of execution or after recordation hereof. 17_ Tranater of the Property; Aseumption. If all or any part of the Propetty or an interest therein is aold or traneferred by Borrower without Lender a prior written consent, excluding (a) the creation of a lien oi encumbrance subordinate to thia Mortgage, (b) the cmation of a purchase money security intereat for household appliancea, (c) a trana[er by devit+e, 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 ur lesa not containing an option to purchaae, I.ender may, at Lender's option, declare all the aums securea by this Mortgage to be immediately due and payable. Lender ahall heve waived auch option to accelerate if, prior to the sale or tranafer, l.ender and the person to whom the Property is to be sold or transferred reach agreement in writinR that the credit of auch person is satisfactory to I.ender and that the interest payable on the sums secured by this Mortgage ahall be at such rate as Lender shall request_ If Lender has waived the option to accelerate provided in this paragraph 17, and if Borrower s successor in intereat has e:ecuted a written assumption agreement accepted in writing by l.ender, l.ender ah4~1) release Borrower from all obligations under this Mortgage and the Note. If I.ender e:ercises such option to accelerate, lxnder shal) mail Borrower notice of acceleration in accordance with paragraph 14 hereof. Such notice ahail pmvide a period of not less than 30 days from the date the notice is maileu within which Borrowermay paY thesums declared due. If Borrower fails to pay such sums prior to the exRiration of such period, I,ender may, without further notice or demand on Borrower, ~nvoke any remedies permitted by paragraoh IR hereof. 17-A. The proceeds of the loan evidenced by the promissory note secured hereby have been rocured by Lender pursuant to Loan Agreement between HOUSING FINANCE AUTHORITY OF ST. ~UCIE 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 Agreeme~t 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 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, suGra, the terms of this Covenant 17-A shall prevail. I ' BUOK 348 e~~f 2888 ~ ~ ~ ~_; : - a.~- ~` `~ ~"~~.~..~~~~~- -:~ -, _ ~~~-'-~.. V