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Home My WebLink About28948. le~pectioe. l.ende~ may make or cau~e to be made reawneble ent~e~ upon end inspeMion~ of the property, pmvided that l.ender shall give t3orrower notice prior to any such inspectio~ ~pecifying reaaonable cauk therefor nlated to l,end~r'~ iatere~t in the Property. 9. Co~deaanstion. The proceeds of any eward or claim tor damage~, direct or consequential. in connection with any oonde~anebion or other taking ot the pevperiy, or part thereof, or tor conveyance in lieu of co~demnetion, sre hereby assi~ed and shall be paid fo I.ender. In the event ot a total taking ot the Aroperty, the pra,~eeds ~hall be applied to the eums secured by thiu Mortgege, with the escew, it any, paid to liorrower. In the eve~t ot e psrtial taking of the Property. unleea Aorrower and I.ender othenvise egree in rvriting, there ~hall be applied to the sums secured by this Mortgage such proportio~ ot the proceeds as is equsl to that proportion which the amount of the sums secured by this Mortgage immediately prior to the date of taking bearo to the tair merket velue otthe Property immediately prior to the date of taking, with the balenc~ o! the prooceds peid to E3orrower. ~ lt the Property is absndoned by Borrower, or if, sfteT notice by l,ender to EiorroweT ihat the rnndemnor offers W makc an award or setde e claim for damages, fiorrower fails to reepond to l.e~der within 30 days after 1he date such nolice is mailed, l.ender is authorized to collect and apply the proceeds, at l.ender'e option, either to restoration or rnpair ot the property o~ to the sume eecured by this Mortgage_ Unlees I.ender and fiorrower otherwise agree in writing, any euch application otproceeds to principal shall not extend or postpone the due date of the munthly inetallments nferred to in paragraphs 1 end 2 hereof or change the amount ot euch installmenta. l0. Bon~ower Not Releaeed. F.xteneion ot the time for paymaot or modification ot amortiaation otthe auma eecured by this Mortgage ~antcd by l.ender to a~y aucceseor in interest ot Rorrower ahall not operate -o releaee, in any manner, the liabilily o! the original Eiorrower and Fi.irrower e succeaeora in intereat. l.ender ehall not be required to commence pra~eedinge againet euch succeeeor or refuse to extend time for payment or otherwise modify amortization of the suma secured by thie Mortgnge by reseon nf any demand mede by theoriRinal Borrowtr and Finrn-wrr'e x.u~eseors in interest. 11. Forbearance by I.ender Not w Waiver. Any forbearance by l.ender in exercieing any right or remedy hereunder, orotherwiee afTorded by applicable law, shall not be a waiver of or preclude the exerciee o! any euch right or remedy. The prc-curement of ineurance or the payment of taxes +~r other liena or chargea by l.ender ehall not be a waiver of l.ender s right to accelerate the maturity ot the indebtedneee secured by this Mortgage. 12. Remedies Cumulative. All remediea provided in thie Mortgaqe are diatinct and cumulative to any other right or remedy under thie Mort~•age or sfforded by law or equity, and may be exercieeri rnncurrently, independently or eucceesively. ! 3. Successors and Aseigns Bound; Joint and 3everal Liability; Captions. The covenanta and agreementa herein contained ehall bind, nnd the righte hereunder shall inure to, the reepective succeeeors and aseigns ot [.e~der and Borrower, eubject to the provisione of paragraph 17 hereof. All covenants a~d agreementa of liorrower ehall be joint and eeveral. The captiona and headings of the paragraphe of this Mortgage are for covenience only and arn not to be ueed to interpret or define the proviaione hereof. 14. Notice. l:xcept for an>• notice required under applicable law to be given in another manner, (a1 any notice to E3~rrower provided for in this Mortqage ahall be given by mailing auch notice by certified mai! addreeaed to E3orrower at the Property Addreae or at euch other addrese se Iiormwer may deaignate by notice to I.ender as provided hernin, and (b) any notice to t.ender ahall be given by certified mail, return receipt requested, to t.ender e address statsd herein or to auch other address as Lender mey deaignate by notice to Rorrower an providcd herein. Any notice provided for in thie Mortgage ahall be deemed tn have been given to HoTrower or I.ender when given in the manner deeigneted herein. 15. Uniform Moctgage; Governing l.aw; Severability. This formo[mortgagecombines uniformcovenantsfor nationel useand non- uniform covenants with limited variationa by jurisdiction to constitute a uniform eecurity inetrument covering real property.'I~is Mortgage shaU be governed by the lavr of the jurisdiction in which the Property is located. In the event that any provinion or clauae of this Mortgage or the Note conilicta with applirable law, such con8ict ahall not afl'ect other proviaions of this Mortgage or the Note which can be given effect without the contlicting pmviaion, and to thia end the proviaiona of the Mortgage and the Note arn declared to be severable. l6. Borrower'e Copy. Horrower ehall be furniahed a conformed copy of the Note and otthia Mortgage at the time of execution or after rerordation hereof. 17. 'I~auafer ot the Property; Aeaumption. If all or any part of the Property or an intereat therein ia eold or traneferred by Borrower v~~thout l.ender's prior w-ritten conaent, excluding (a) the creation of a lien or encumbrance subordinate to this Morlgage, (b? th2 creati~r~ uf a purchase money security interest for houaehold applianceA, lc) a tranafer by deviee, deecent o~ by operation of law upon the death of a joint tenant or (d) the grant uf any leasehold intereat of three yeara or leea not containing an option to purchaee, I.ender may, at Lender'e option, declare all the aums securea by this Mortgage to be immediatrly due and payable. I.ender ehall have waived euch option to aocelerate if, prior to the eale or traneter, [.ender and the person to whom the Property ie to be eold or tmneferred reach aqreement in writing that the credit of euch person is satisfactory to I.ender and that the interest payable on the auma secured by this MortgaQe shall be at auch rate as I.ender shall request. It I.ender has waived the option to acmlerate provided in this paragraph 17, and if Fiorrower's succesaor in intereat hae executed a written assumption aqreement accepted in writinK by I.ender, I.ender ahall releaee F3orrower from all obligationa under this Mortgage and the V ute. . If I.ender exercises such option to accelerate. I.ender shall mail Borrower noticP of acceleration in accordance with paragraph 14 hereof. Such notice ahall ~-mvide a period of not les.g than :i(-days from the date the notice is mailed within which Eiorrower may pav the suma declared due_ If Borrower tails to pay auch suma prior to the expiration of auch period, I.ender may, without further notice or demand on Korrower, ~nvoke any remedies permitted by paragtrnoh 1!t herev-f. 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 a~ssigned to FLORIOA NATIONAL BANK OF ~~~ MIAMI, 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 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. AmoRg 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 originaily 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 ~ n~';x348 Fa~E2~92 ~ ; ~ A~ : _ - _ _ ~~ ~~.{~.~~~~ 1. ~. _. . ~ _~x~.~~