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CONDOMINIUIVI RIDER
THIS CONDOMINIUM RIDER IS 1q8dC 1I11S. . . . . . . . . 211d? . . . . . . . . . . . . .day of . . S~Rtaober. . . . . . . . . . . . .
19. .7.6. and is Incorpo~atcd into and shali be decmcd ta amcnd and supplemcnt a I~far!gage. Ikcd of Trust or Deed
to Secure Dcbt (hcrein "security instn~ment"~) -d-atcd of evcn datc hc~cwith gi-~en b~~ thc undcrsigncd (hcrcin
"Borrower") to sccure Borrower's Note to. .~TATE.TMERPRISES• I?OR~I;t~AGE• GORPORATIQdV• • • • • • • • • • •
µ9710 ~AlA~ JetlSengBeach~~Flo7c;ida ~3345?e security instniment a~d
located at. .0~~. . s . . ~ . . . . . . . . . . . . . . . . . . .
lv~ov.~er ~eansu .
Th~: Pmpeny comp~i3~n't i e vy~~~~~Q~jyic~ec~ i~terest in the common elements of, a condominium
projcct known as. . . . . . . . . . . . . . . . . . . .l.u~wu~.tr~u.~i, ta?~~C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
, • • • • . • • (NsnN o1 Ca+dominiu~+ Proj~tt)
. . . . . . . . . . . . . . . . (hcrcin "Condominium Project").
CON~OMINIUM COVENANTS. In addition to the covenants and agrecments made in the security instrume~t,
Borrower and L.ender further covcnant and agree as follows:
A. Assess~nents. Borrower shall promptly pay. when duc. ali assessmen:s imposed b~ thc Owners Association
or othe~ goveming body of the Condominium Project (hcrein `'Owners Assaciation") pu~suant to the provisions of the
declaration, by-laws, cod~ of eegulations or other constituent document of the Condominium Project.
B. Hazard Iaswrance. So long as the Owne~s Association maintains a"master' or "blanket" policy on the
Condominium Projoct which provides insurance coverage against fire, hazards included within the term "extended
covcragc;' and such other hazards as Lender may nquire, and in such amounts and for such periods as Lender may
rcquire, then: -
(i) I.endcr waives the provision in Uniform Covenant 2 for the monthly pa~~ment to Lender of one-twelfth
of the premium installments for hazard insurance on the Property; '
(ii) Borrower's obligation under Uniform Covenant S to maintain hazard insurance coverage on the
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant S regarding application of hazacd insurance proceeds shatl be
superseded by any provisions of the declaration. by-laws. code of rcgulations or other constituent documeat of thc
Condominium Project or of applicable law to the extent necessary to avoid-a conflict betwan such pmvisions and
the provisions of Uniform Covenant 5. For any period of time during which such hazard insurance coverage u not
maintained, the immediately preceding sentence shalt be deemed to have no force or eftect. Bornower shall give
Lender prompt notice of any lapse in such hazard insurance cove~age. '
In the event of a distribution of hazard insurance procceds in lieu of restoration or repair following a Ioss to
the Property, whether to the unit or to common elements. any such proceeds payable to Borrower are hereby assigned
and shall be paid to I.ender for application ta the sums secured by the security instrument, with the excess. if any,
paid to Borrower. -
C. Lende~'s Prior Consent. Borrower shall not. except after notice to Lender and with Lender's prior written
consent, partition or subdivide the Property or consent to:
(i) the abandonment or termination of the Condominium Project, except for abandonrteent or termination
provided by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation
or eminent domain;
(ii) any materia! amendment to the dcclaration~-laws or code of regulations of the Owners Association,
' or equivalent constituent document of the Condominium Pro~ect, including, but not limited to, any amendment whieh
i would change the ~ercentage interests of the unit owners in the Condominium Pmject; or
(iii) the effectuation of any decision by the Owners Association to terminate professional management and
assume self-management of the Condominium Project.
~ D. Remedies. IE Borrower bresches Borrower's rnvenants and agreements hereunder, Including the rnvenant
~ to pay when dne condomininm sssessments, tben I.ender mny invoke any remedies provided under the security
instrument, inctuding, but not limited to, those provided under Uniform Covenant 7.
IN WITNESS WHEREOF, Borrowcr has executed this Condominium Rider.
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f lED Ay0 ltECC110ED Y' ` -Bwro~wer
s~, l,UC1E COUNTY F~~- ,
fIOGER ~?lIAS
- RECORD YEAIFIED COUR
~ -eor.ower
~ $a IQ 9~~ ~~6 a I.ane
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E 344812
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CONDOMINIUM RIDER-i to ~ F~?~ir-6~is-Frua~~FetMC uHiFOR~ insrau~ErR
~oox Z57 P~~~ 898
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