HomeMy WebLinkAbout0959 . . HOllS i!10 F 11lA1lC£ AUTHOR 1 TY OF Pp~K p01J11TY. f~Oli I OA
SIMBLE FIW1lY MORTBAQ~ REYEIiUE 80lpS. SERIES i9A~
11111 F06W 10RTtiABE R10ER ~
TM rlyAts and oplt~rtiaa ot tM partles to tA~ Mort~ to vAid~ thls Unifun~ MortQeg~
RIdK ~tM "R1~•1 Is attacA~ and th• Not~ +iAleA 11 s~w~s ltM "Not~"f ar~ ~xpr~ssly wsd~
supJ~c? to th 1 s R 1 dK. I n fA~ ~w~t ot ooat 11 ct brtMNn tM prov i s 1 a~s ot ih i s R 1~ and tA•
provislcns ot th~ Mort~ ar Not~. M• provlstons ot fAts RIdK shall oontrol. To tA• ~xt~nt
thw ar~ nat ~od 1 f i~A b~r tA i s R 1~r. a 11 tM tKes, coM i t 1 a~s anA othK prov 1 s 1 w~s of M•
Mort9.p. ane rat• r...~n ~e tu~~ toro. ane •tt~t. .
1. TA• 8orrowr sprMS fAat tA~ ~ortpe~ (tM "lMd~r"). th~ Housln9 Flnsna
AutAoritp of Pblk C~ount~r. Flo~ida ltM •AutAortty) or th~l~ w~sscn ar assigns ~y. at
ae~r t 1 r and ~ I tl+out pr 1 ar not i o~, aca i K~ts a 11 psyn~nts dw w+d~r tA• Mortga~ an d Nof ~
and ~~arcis~ aey oth~r ~eMdy •Ilowd br Isu cr provld~d by fho Mortq~ far bra~N ot tp•
Nortgsg~ or i~bi~ it: .
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(a) AII or eny psrt ot tn• p~ap.rty s.wrin9 ta• ~tgag. ctM "PropM'ty~) a any
IntK~st tMr~in is sold c+~ t~anstarrb b~r Borrowr or by opKStlon ot Isr, ~xelu01n9
(11 s transf~r to a p~rsoe assw~ing fh~ Mortgag~ snd tA• Dbi'~ tilth th• catsMt ot fA~
L~ndK, tA~ 11uMor I tr~ or i fs d~s I gnN, i n acoorda~a v 1 th paragraph 2 Mroot ~ t 11) M•
cr~at t on ot a 11 ~ ar ~nc~~ano~ w bord 1 nat~ to tA 1 s llortgag~ Mh 1 cA doti not n I at~ to
: a transtK ot rlghts of occupsncy tn tN• Prop~rty. tlli? tM cr~stlon of a purMas~
eoney s~cur 1 ty i nt~nst for ~ousM~o 1 d epp 1 i anws, or ( i v) a transf ~r b~r op~rat 1 on of
- Isr upoe tM destA of a,~oint t~nsnt.
(bI Ths 9orrowr fails to ablde D~r any sgr~ew~nts ~ad~ vffh th• Autharify, cr th•
Undsr, or If tAs l~n~ vr M~ Authority ttnds an~r stat~nt oontainod in tM
Mortgagor ~ s Af f i dav 1 t end Csrt i f i cst 1 on ar eir~r athsr doc~~ant ~x~tb ~r th~ 8orrowr
to D~ uMru~, inaocu~at~ or Inco~l~t~ or finds ststew~nts Dy oth~n in oonn~ctioe rith
tM loen to b~ uet~u~ snd luow~ to b~ untru~ by th~ Borrow~r.
( c) The Borrowr f a 11 s to supp 1 y prowpt I Y sn~r i nfo~st 1 on or docu~nt Mh I ch tA~
Lsnder ar ths Autlwrlty we~r request to vsrify oo~pilana vith ti~• conditlons of tAe
AutAoritr~s Singte Fae~ilr Mortgag~ Rsvsnu• 8ond Progra~, S~riss 198+ (th~ ¦P~rogra~")
une~r th~ loen as ~vldenqd D~r th• Mortgsg~ aeA Not~ ~as provid~d.
(d) The ~,tnor~tr a~t~rwln~s that tM loan evld~nc~d br th• Ibt~ dld nof cowply
vith tha ~ortgags eligibility rpulre~snts o! Ssction 103A ot ths CoOo as ot ths dat~
ths loan ~as pureAassd b~r th• AuthoritY or as ot tA~ dst~ ot any assuptlon tA~eot.
Ths 8or~o~ver understands tAat 4A• Authorit~r anA ths Lendsr Aavs r~it~d upoo stat~w~nts
contalned in ths Mortgago~'s Afft6avit and Csrtlticatlan anE ail othsr docu~snts sub~ltte~
in support ot tA• loan appiicetton In tne p~ocessing, financing end granting ot tfiis loen.
~ Upon dlscovsry of treud or ~isrepr~s~otatlon Oy tA• 8orrover vith resprtt to•en~ 1 M oriestion
~ provided Dy th• Borro.rsr In th• loan appflcatio~ or Mortgegor~s Affidavit and Grtiticatiat
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E sxacuts0 In conesctlon ritA the Not~, tAs lsnder or ths AuthoritY isay, in its sole
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f Qiscr~tion, b~r rritten notic~ to Borroxer, dselare all obllgations s~cured by Me Mortgag~
and all obltgatlons payabls undsr th• kote (euediately dus and p~yablo. Borrorsr shall
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~ notify th• Under an0 tA• Autnority proaiptir In v~lting of eny transaetia~ ar event rhleh
aar gl w rls• to a rigAt of acc~ls~stlon Asrsuo0~r. 8orrow~r sAall par to t~~ Lendsr or th•
~ AutAoritr,.es the ease eRay be. all da+seqes sustalneC by rsaso~ of ths broaeh of ths oorsnant
of notice sst forlh Aereln or Ar reason of such fraud or wisrepresentetlon.
2. The Mortgags aod tAs Noto wa~r onlr bs assuse0 Dy a psrson qualifying es "Eligibls
- P~rsons and Fasllies" under tA• Progra~s, as (n sffect as of the dats ot such ssswption, an0
in oonn~ctlon rltA a transacTlon nt~IcA nyets all of ths requlrs+asnts of tAs as~uwption
~ provislons ot th~ Mortgag~ Orlgination Agrsessnt dat~d Septs+~b~r 1. 1984 (th• "Agr~~snt~)
ent~r~A Into by ths AutAority an0 the lsnder~ both as In eff~ct es ot tAe dat• of w cA
assw.ptlon, tA• Qualitlcetla? oi such p~rson anA such transaction D~ing subJset to tAs prior
rrlft~n approval of tA• Ad~einistretor and the Trustss or th~i~ respectivs dssignNS, rl?tcl~
approva! ~ay D~ g~anted In th~tr sol~ discretlo~.
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3. Th• provislQns of th• Mortgsgs aro subJ~ct to all of fAs provislons of tA• Trust
~ Ind~ntu~~ datsd as ot Sept~r 1, 19M (tti~ ¦indinturs") D~tween !h• AutAority en~ 8arn~4t
t 8aflks Trust Cw~pany, N.A. ~tA~ "Trustes"). and the Mortgag~ Orlginetion Agree~nt. TA•
~ Mortgeg~ end tA~ r~lat~d Nots ar• wsd~ pursuent to and ar~ h~reb~r sxprassly iards subJect to
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~ tA• tareis ana corid{tfo~s ot th• Progra., and tho tsrws ol eil sucb doq~ents ar•
~ lncorporst~0 h~r~in by ~sfKrnc~ In th~ir sntirety. SucA tK~s en0 condltlons sAali
~ intlud~, rltROUt Iiwitetlon, tn• re~ulraNnt that th• 11uMorit~r shal! ~x~cut~ sil
~ Instru~nts and tak~ ell n~cessary actloo to forgi w ell aaounts reweining dw aad payebl•
undK th• Not~, an0 to rebet~ to th• Borrowr un~r th• Not• a~r eoounts th~r~totor~
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