HomeMy WebLinkAbout0985 and are not to be used to interPret or define the provisions
hereof.
14. Notice. Except for any notice required under applicable ~
law to be g vi
en in another manner, (a) any notice to Mortgagor
provided for in this Mortgage shall be given by mailing such
notice by certified mail addressed to Mortgagor at the Property
Address or at such other address as Mortgagor may designate by
notice to Lender as provided herein, and (b) any notice to Lender
shall be given by certiEied mail., return receipt requested, to
Lender's address stated herein or to such other address as Lender
may designate by notice to Mortgagor as provided herein. Any
natice provided for in this Mortgage shalt be deemed to have been
given to Mortgagor or Lender when given in the manner designated
herein.
15. Governin~ Law; Severabilit~. This Mortgage shall be ,
governed by the Iaw of the- ~
risdicti~n in which the Property is
located. In the event that any provisi~~n or clause of this ~
Mortgage or the Note conflicts with applicabte law such conflict
shall not affect other orovisioRS oE this Mortyage or the Note
which can be given effect without the conflicting provision, and
to this end the provisions of the Mortgage and the Note are
declared to be severable.
16. Mortgagor's CoPy. Mortyagor shali be furnished a con- ~I
formed copy of the Note and of this Mortgage at the time of execu- ~
tion or after recordation hereoE.
17. Transfer of the Pro~erty; Assumption. If the Not~ and
this Mortgage are sold to Barnett eanks Trust Company. N.A., as
Trustee (the "Trustee"} for the Florida Housing Finance Agency i
(the "Agency"), the Property securing the Note may be transferred
to any person purchasing the residence without acceleration of the
balance due under the Note only upon the written approval of J.I.
Kislak Mortgage Service Corporation as servicer (the "Servicer")
under a Program Administration and Martyage Servicing Agreement
dated as of June 1, 1982, acting on behalf of the Trustee as mort-
gagee. Such approval shall be granted by the Servicer, acting as
agent and attorney-in-fact of the Trustee as mortgagee, provided
that any such transfer to any person purchasing the Property sub-
ject to this Mortgage shall be approved only if (i) the Property
being acquired is a single family Residence within the meaning of
the Mortgage Oriyination Agreement dated as of J~ne t, 1982
between the Agency 3nd the Lender at the time of the assumption,
(ii) the requirements of Section 4.02 an3 Sectian 4.04(b) of such
Mortga_qe Origination AgrPement, which is hereby incorporate~3 by
reference, are satisfied, (iii) the mortgage loan continues to be
insured under the insurance policies described in the Mortgage
Origination Agreement and approved by the Trustee, (iv) the
conveying mortgagor, as seller, and the purchaser, as mortgagor,
execute and deliver affidavi~s substantially similar to those
required by the Mortyage Origination Agreert~ent and (v) the pur-
chaser agrees to restrict assumptions by any subsequent purchaser
in the same manner as provided herein.
If Lender exercises such option to accelerate, Lender shall
mail Mortgagor notice of acceleration in accordance with paragraph
14 hereof. Such notice shall provide a period of not less than 30
days from th~ date the notice is mailed witt~in which Mortgagor may
pay the sums declared due . If Mortgagor fa i 2s to pay such sums
prior to the expiration of such period, Lender may, without fur-
ther notice or demand on Mortgagor, invoke any remedies permitted
by paragraph 19 hereof.
18. Tax Covenants. Mortgagor covenants that ~{ortgagor will
not take any action which would (a) cause Martgagor's representa-
tions to Lender which evidence compliance with the Mortyage
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