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Home My WebLink About28988. Ia~pectioa. I.ende~ may make or cawe b be made rea~onsble e~trie~ upon and inspections of the property, provided that Lender shall give 8orrower notice prior to any such inspection ~pecitying reasonsbk cause therefor nlated to Lender'~ intere~t in the Property. 9. Coade~nnatloa.'11~e pe~oceeda of any eward os claim for dama~es, direct or rnnsaquential, ia conqection with any ooademnstioa or other taking of the pmperty. or part thereot, or fot rnnveyance in lieu ot rnndemnatioa, are hereby assigned end shell be pnid to l.ender. In the event of a total taking of the Pmperty, the prooeeds ehall be applied to the sums secured by this Mortgage, wiLh tha esces~, iI any, paid to Borrower. In the event of a pa~rtial taking ot the Property. unless Borrower and I.ender otherwise agree in writing. then shall be appGed to tt~e sums secured by this Mortgage such propo~tion o[ the proceeds as ie equai b that proportion which the amount of the sums secvred by this Mortgage immediately prior to the date oi taking bears to the fair market value of the Propeety immediately prior to the date oi taking. ~vith the balanoa of the pmceeds paid to Bonower. If the Piroperty ia abandoned by Borrower. or if, aRer notice by I.ender to Borrower that the oondemnor ofters to make an award or settte a claim for demegee, Borrower fails to respond to I.ender within 30 days after the date such notice is mailed, Lender is authorized to collect and apply the proceeds, at Lendei s option. either to restoration or repair of the property or to the sums eecured by this Mortgege. Unlees Lende~ and Borrower othera+iee agree in writing, any such application of proceeds to principal ahall note:tend or poatpone the due date of the monthly inatallmenfa referred to in paragrapha 1 and 2 hereof or change the amount of such installmenta. 10. Borrower Not Releaeed. Extension of the time for paymsnt or modification of amortization of the eums eecured by thie Mortgage qranted by l.ender to any eucceseor in intereat of Borrower ehall not operate to releaee, in any manner, the liability of the original Borrower and Borrower e succeasora in intereat. I.ender ahall not be~equired to oommence proceedings againat such aucceeeor or refuee to e:tend time for payment or otherwise modify amortization of the auma aecured by this Mortgage by reseon of any demand made by the original Borrower and Borrowe~ s successora in interest. 11. Forbearance by Leader Not a Rlaiver. My forbearance by l.ender in e:ercising any right or remedy hereunder, or otherwise aPforded by applicable law, ehall not be a waiver o[or preclude the e:erciee of any such right or remedy. T6e pmcurement of ineurance or the payment of taues or other liena or charges by Lender ehall not be a waiver of l.ender a right to accelerate the maturity of the indebtedness secured by this Mortgage. l2 Remedies Cumulative. All remedies provided in this Mortgage are dietinct and cumulative to any other right or remedy under this Mortrage or afforded by law or equity, and may be e:erciee~l concurrently, independently or succeasively. 13. Succeesore and Aeaigne Bound; Joint and Several I.iability; Captione. The covenante and agreemente herein contained ahall bind, and the righta hereunder shall inure to. the reepective aucceseors and aeeigns of Lender and Borrower, aubject to the pmvisiona of paragraph 17 hereof. All covenanta and agreementa of Borrower ahall be joint and several. The captione nnd heudings of the paregrephe of thie Mortgage are for covenience only and are not to be ueed W interpret or define the provisions hereof. 14. Notice. Except for any notice required under applicable law to be given in another manner, (a) any notice !o Borrower pmvided for in this Mortgage ahall be given by mailing euch notice by certified mail addreeeed to Borrower at the Property Addrese or at such other address es E3orrower may designate by notice to I,ender as provided herein, and (b) any notice to Lender shaU be given by certified mail. retum receipt requeated. to Lender a addrees stated herein or to such other addreae as [.ender may designate by notice to Borrower ex provided herein. My notice provided for in this Mortgage ahall be deemed to have been given to Sorrower or I.ender when given in the manner designated herein. 15. Uniform Mortgage; Goveraing I.aw; Severability. Thie form of mortgagecombinea uniform oovenante for nationel ueeand non- uniform covenanta with limited varialions by juriadiction to rnnatitute a uniform eecurity instrument rnvering rea) property. Thie Mortgage shall be governed by the law of the jurisdiction in which the Property ie located. In the event that any provi~+ion or clause of thie Mortgage or the Note contlicts with applicable law, auch coniliM ehall not af~ect other proviaions of this Murtgage or the Note which can be given ef[ect without the con0icting proviaion, and to this end the proviaiona of the Mortgage and the Note are declared to be aeverable_ 16. Borrower'e Copy. Borrower ahall be furnished a conformed copy of the Note and of thia Mortgage at the time of e:ecution or after recordation hereof. 1?. Tranefer of the Property; Aaeumption. If ali or any part of the Property or an intereat therein is aold or tranaferred by Borrower , without Lender'a prior written consent, euciuding (a) the creation of a lien or encumbrance aubordinate to thia Mortgage, (b) the creation of a purc!~ase money security interest for houeehold appliances, (c) a tranafer by deviae~ d~ecent or by operation of law upon the death of a joint tenant or (d) the grant of any leaeehold intereat of three years or lese not rnntaining an option to purehaee, I.ender mey. aL Lender'e option, declare all the sums aecurea by this Mortgage to be immediately due and payable. Lender shall have waived such option to accelerate if. prior to the sale or tranafer, Lender and the peraon to whom the Property ie to be eold or traneferred rnach agreement in writing ihat the creditof auch person is satisfactory to Lender and that the interest payable on the aums aecured by this Mortgage shall be at such rate as I.ender ehall request. If Lender has waived the option to accelerate provided ia thia paragraph 17, and if Borrower's succeasor in intereat has e:ecuted a w~ritten asaumption agreement accepted in writinq by Lender, [.enderahall release Borrower from all obligations under thia Mortgage and the Note_ If Lender exerciaes auch option to accelerate, Lender ahall mail Borrower notice of acceleration in accordance with paragraph 14 hereof Such notice shall provide a period of not leas than `~0 days from the date the notice ia rr.ailed within which Borrower may pay the sums declared due. If Borrovrer fails to pay such sums prior to the expiration of such period, Lender may, without further notice or demand on F3orrower, ~}lvoke any remedies permitted by paragraoh 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 AUTHORI~TY 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 ~oan guidelines in said agreement provide as follows: "Mortgage loans, with the exception of FHA-insured or YA-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 Yoan 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. , Brlr~J 348 PAGEz8~~6 ~ ~ ;1.. _~ - _ ~:~ ~~ . , ~_:-~.~~.. ~ ,. . . .~..~ . . ~. .._~ ~_~