HomeMy WebLinkAbout0989 p r~wwc~ ~un+o~itr of Pa.x aou~+rr, F~i,
~ ~ , ~S~ FIWIIY FORTBAAE REIIEMIE 9q~DS~ SERIES 1ii84
tM 1 FORl/ FOIiTBASE i11 DER
TM r I Qhts an0 ob 1 I 9st 1 a~s of M~ pKt 1 N to fM Mortgsg~ to vA 1 eA tli 1 s W+i tors Mortgsg~
R 1 dK ( tM '~t i dK• ) 1 s rMed~~d and fM ~bt• rA 1 d~ i t s~cu~~s ( tM ~lio~t~• ) ~n ~xpr~ss 1 y~
supJ~et to tA 1 s R I Oa~. 1 n tM ~wnt ot any co~t 11 rt brtw~n tIM prov I ~ 1 a~s of th 1 s R I OK snd tA~
provislons of fh~ Mortys~ or Not~. fh• provisions oi fAis Rid~r sl?all oontrol. To fh~ ~ct~nt
tAw ~r~ aof ~ 1 f 1~d b~? f1+ 1 s R i AK. a 1! tM t~ns ~ svna i t 1 oes ~nA aMK prov i s 1 ons of M~
Mort~aq. aea ~at. r..s~n in tu~~ torc. ane .tt.ct. .
1. TA• 8orrowr ~«s, tAat fh~ aort9pN ~ tM "IMdK" th~ ?bus 1 n~ F I nana
AufAor i fy ot Pb 1 k Cou nt~r, F 1 or t a~ ( tA• MAuthor 1 t~r" ) or fh~ I r wcnasors ar ass 1 gns ~sy, at
an~t t 1 w~ anA r i thout pr 1 or' eat 10~. aeo~ I Kat~ s 11 Pa~?~ts dw wtd~r' th• Mortg~s end Nct~
ana ~x«-cis~ any o?h~r ~wdy ollowd bp lar or provid~d by tM Mlortgp~ fcr br~etA of t!i•
Mortgsg~ or Not~ If: .
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(a) A11 ar aey part ot tA• Pr'aPw`tl? s~aring M• Mortgags tth~ *P~cP~"h"l or eey
1 nt~r~s4 tA~r~ 1 n 1 s so I d or transtarf~d bp 8orrorK or b~r cpKat 1 on of 1 a~e. ~~ae 1 ud! e9
(1) a transt~ to a pKSOn asswing th• Nortg~ ena tA• Note Mith th~ oonsset of tA~
Und~r, tA• AutAority. or Its d~slgn~e, In aecer0sec~ vlth p~ragraph 2 h~r~ot. tll) th•
cr~st i on ot a 11 ~n or encu~brana w bord l nat~ to th ( s Mortgag~ rh i d? do~s ~at r~ I et~ to
a transfK of rlgAts of oeeupeney fn th• Pr~rty~ (111) iM er~sticn ot s purMss~
~wn~y s~cu~ t Ty i ntsr~st tor Aousehol d spp 1 i sec~s, or (1 v) s transf K by opKat i cn M
lar upon tA~ Msti~ of a Joint f~nset.
(b) Ths Borrowr fslls to abld~ b~r any agr~nts ~ed~ rith fh• Autkorlty, or th•
lsnder, or if tA• L~ndK or th~ Auit+orit~r flnds any stat~ent ~ntainsd In th~
Mortgsgor~s Affidsvit and Csrtlflcatlon or eny atAK docuw~ot ~x~cut~d b~r th• Bor~orK
to b~ untru~, Inaeeur~t~ or i~oo~pl~t~ or finds stat~nts b~r otMrs in eoRMCtlon rlih
tA~ laan to b~ untrw anA kna~n to ~ unt~u~ b~l tA• Borrow~.
(c) The 8orrover faiis to supplr pra~ptly s~r inforws4ion or Oocurnt rAlch th~
Lendsr or ths Authorit~? we~r f~pusst to vsrity oowpliancs vitA th• aonditlons of M•
Authorltr~s Singl• Fa~lly Nortgag~ Rave~w 8ond Prcgra~, S~rlss i984 (th• "Prc~gras"1
unOK th• loen as wl4encsA D~r tA• Mlortgag~ an0 Not~ Mas provid~d.
(d) The AutAority d~tersin~s that tM loen ~vid~n~sA by ths Nots d10 not co~plY
rith ths iwrtgage eligibllity rsqulrewsnts ot Sectio~ 103A of ti~s CoM as ot th• Aat~
ths loan ras purchased bjr tAe Authority or as ot the da4o ot eny assu~ptlon ther~ot.
; The 8orrower undsrstands t~at ths Authority anQ ths Lsnder have retl~d upon statMSnts
oontalnsd In the Mortgagw~'s AtfiOsvit and Csrtificatlon and all oth~r 0ocussnts sub~fttsd
in support of tns loen appiicetlon ln ths proc~ssing, tinancing and granting ot this loen.
Upon e~sco~.ry of fraud or ¦Isrepres~ntation btir ths Borrorer rith rssp~ct to eny infor~ation ~
provideA by ths 8orrover In tAo loan epplicativn or Mortgac~or~s Affldavlt and Csrtltication
; ~ sxecute~ In conrwctlan rith tAs Not~, tA• Lsnder or tA~ AutAoritp a~ay, in Its sols
dlscr~tlon~ by vrittsn noti w to 8or~ower, declare e~l vbligstlcns secu~sd b~r ths Mortgage
sn0 all obitgatlons payaDle under 4A• Nots l~dlatsty due and payabls. 6orrow~r s~ail ;
f notlfy th• lendsr and ths Autnority proaiptiy In vrit~ng of any transaction or ~vent rhich ~
~ wey gl w ris• to a rlgAt of acc~l~ration AereuodK~ Borrowsr st~all pey to ths Lsnder or tM
AutAorltr, as tAe cass aiay bs, all dan~eqes sustalned by reason of tAS Oreach of M• oovenant
of notlcs set ta-tA hersin or br reason of sucA fraud or ~isrspressntatio~.
2. TAs Mlortgage and the Note ~.ay only b~ assussd by s person Quaiifying as "Ellgibls
Persons and Faaililss" unG~r the Progrew, es In ~fUect as at the dat~ of such assuwptlon, and
in oonn~ctlon with a transactlan rhich ~ts all ot th• requlre~+?ts ot tns assuwption
~ provlslons ot tAs Mortgac,r Originatio~ Agrse+Mnt dat~d S~ptewb~r 1~ 1984 (th~ •Agrs~ent")
•nt~rsd Into Dy tAr AutAOrity anA th• Lender, OotA aa in ~ff~ct as ot the 0ate ot wch
~ essuaqfion, th~ ~ualfficstlon of sucA p~rsan an0 such trensaction b~ing subjed to th• prior
~ rritfen approval of th• Adwinistrator an~ the TrustN or th~ir rssp~ctlvs d~sig~ess, rAlch
~ epprova) ~sY bs grant~d In th~l~ sols discretlon.
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~ 3. TA• prov{slons of tn• Mortgag~ ar~ w~Ja~t to eil of th• prQVislons ot tAo Trust
~ Ind~ntur~ datsd as of Sopta~b~r 1, 198~ (tA~ Mindantur~") bstr~n tha AuthorEt~r and Barnett
~ Bsnles Trust Coe~pany, N.A. ttn• "Trust~s"), and ths Ma~tgags Qriginatia~ AgrMwsnt. Tha
~ Kortgag~ and th• relst~d Nots aro aiad~ pursuant to anG er• hsreb~r expr~sslY ~ad• subJeci to
~ th• t~r~s sn0 con4ltions ot the Proyraw, and ths t~rws ot atl wch docwM~ts er~
~ Incorporated A~r~in Dy r~f~re~c~ {a tholr entlr~ty. Such t~r~s and con0itlo~s shall
~ Include, ritAout Il~itatlon, tn• rsauir~nt that tn• Authorlty sAal! ~x~cuts ell
Instrwa~nts and take all necsssary ectlon to forqi w all aa~ounts reieeln{ng du• and pa~rabl•
~ undsr ths Nots, and to rebate to th• Borrover un0~r th• Not• en~r e~oients thK~tofor•
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