HomeMy WebLinkAbout0284 CONDOMINIUM RIDER
Ttits Co~vuot?~iyi~'~t ki~t.rt is maclc this . . . . . . T . . . . . . . . . . . . . . .day of . . . . . :'!.Y . . . . . . . . . . . . . .
19. 7,'and is incorporate~f int~ and shall tx decmed to amend and supplemcnt a Mortgage, Dced of Tnut or Detd
to Secure Ikbt (hercin "securiey instrument") datrd of rvzn date herewith, given by the undersigned (herein
..Borrowcr"1 t~, s~curc Bormw~~r's Notr to. .:r'T.~'~1.:~!-'.": _ 1~~.~".~:. rt.'.'~'.,...~::C
• - • • • • • • - • • . - . . . . . . . . . ( hcrein "Lender" ) and covcring the P~o~ny describeJ in the security instrument and
locatcdat.....?.^1~.1~...-?-' .''n.T. . ''~'7^.•:'.I.',,,..,. ~ ~ „ ,
. , . , . . . . . . . . . . . . l . l.. . . ;1_" . .I.~ . . . . . . . . . . . . . .
(Property Addresi) 1
Thc ProFx:rty rnmpriscs a unit in, t~~gcther H•ith an undivided intcre~t in t~clir?~m elements af, a condominium ;
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projcct kno~~~n as. . . 1, i~ ~l'.~~ . . . . 1r~~. ~ 1~.
,.~.n
. . . ~
(Name of Condominium Projett~"'[ + +
. . . . . . . . . . . . . . . . l hrrrin "Cond~~minium Proj~ct' :
Co:voo~tin~~~~t Cort.x~v•rs. In addition to the cavrnants and agrerments made in the security instrument,
uur~uw~r anu i.~nurr iurttirr ruvrnant and at;rec as foiio~vs:
A. Assessments. Bc:rrc~~rr ~hall prc~mptl}• p~~•. Hhcn due, all as~;ssmcnts impc~sed by the Owners Association
or othrr govrrning bcxl~~ of th~ ('~md~~minium Project (h~rein "Ownrrs Acs~~ciation") pursuant to the provisions of the
declaration, by-laws, :cxie ~~f rrgulatiems or other ec~nstiturnt document of the Condominium Pioject.
B. Hazard Insuranee. Sc~ Icmg a, the Ow~ners Assuciation maintains a"master" or "blanket" policy ori the
Condominium Project H-hirh pru~~idrs insurance cc?veragr ~gain~t fire, hazards included within the term "extended
coverage." and ~uch other h~r.~r~i~ as Lender may «yuire, and in such amounts and for sueh periocis as Lender may
rcquirc. then: ~
(i) l.ender wai.•rs thr pru~~i~i~~n in Unif~~rm Covcn~nt 2 for thc monthl~~ pa~~ment to Lender of one-twelfth ;
of the prcmium installmcnts f~~r hazarei insuran~e ~m the Propcrty~; ~
(ii) Borrow~r's obligati~m un.lcr Unif~~rni C~n•enant 5 tc~ maintain hazard insurance coverage on the
Propcrt~~ i. dcemcd satistird: and ~
(iii) the pru~~isi~ms in l`nif~~rm C'o.en:~nt s rrcarding application of hazard insurance proceeds shall be
supc:rsrdrd b~ am pro~i~i~~n. ~~f the ciccl~rati~m, h~-law~~. axie c~f regul,~tic~ns or other constituent document of the ~ ~
Cc~ndominium Pr~?j~et ~~r uf ~,~plir:ible law~ t~? the e~tent necrssan• tu a~~«id a contlict beta~een such provisions ancl ~
the pmvision< <~f l-nif~~rm ('rn~nsnt 5. F~r am ~xri~xl ~~f timr during w~hirh such hazard insurance coverage is t~ot
m:~intaincd. th~ immrdiately prcc~din~: scntenc. shall tk deemed to havc no force-or eftect. Borrower shall give
~ender prumpt notice ~~f ~m I~p~r in tuch ha~anl insurancc covcrage. ?
In thc evem of a di~trihutie?n ~~f hazard insurance pmceeds in licu of resturation or repair following a loss to -
the Propert~, wh~thrr tc~ th~ unit ~~r t~~ c~~mmc~n clrmcnt~, an}~ such procecds pa~°able to Borrower are hereby assigned
and shall be pai~i tc~ Lrnder f~~r .i~~licatinn te~ the wms ~~rured b~ thr security instrument, with the excess, if any,
paid t~i I3~?rroµrr.
C. Lender's Prior Cunsent. Be~rru«rr >hall nut, rxrept sft~r natice tc~ Lender and with Lender's prior written ,
conscnt, partiticm c~r suhdi~id~ thc Pn~~xrt~ <~r a~nsent t~~: !
i (i) thc ~band~~nment c~r trrminatinn c~f the ('~?n~ic~minium Project, exrept for abandonment or termination
provided b~~ law in thc ca,e ~~t .uh.tantial d~structi~m h.~ firc c~r c~thcr rawalty or in the case of a taking by condemnation
~ ~~r emincnt ~fc~main;
' lii~ an~ matcrial am~n~imcnt t~~ thc drelaraticm. h~~-laws or coclc of rcgutatians of the Owncrs Association,
; ~~r equi~•alent a~nstiturnt dcxument ~~f the Cc?nJ~~minium Prcijrct. including, but not limited to, any amendment which
; u~~iuld change the ~rccnta!~r ine~ r~~i~ c~f the unit ~~w nerc in the ('an~lc~minium Project; or
~ liii) thr efiectuatic~r ~~f am ~i~ri,i<m b~ thr Owner~ Ass:x.i~tion to terminate professional management and ~
j assume seff-manaremrnt ~~f thr ('~~n~i~~minium Pruject.
~ D. Remedies. If Borrowe~ breaches Rorrower's co~enantc and agreements hereunder, including the coveaant
f to a~ w hen due condominium •rssc»ments. then Lender ma}~ im~oke anv remedies
~ p provided under fhe security
( iaStrument, includin~, hut not limited to, thoce pro~ided under l~niform Covenant 7.
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Iti ~~'~Ttir~s ~1~t~t rc~ c~~ . Burn,u~~r ha~ errcuted thi~ Ccm~ic~minium Ridcr.
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< ftLED AM! NEG~nDED n••. k n•• '
ST.IUCIz COUNTT fLA. ~ ~!~~,sC( ~it~
fiOCE ° 'rf ITP.AS ~
CIFRR C~:'~UIT CO{1RT - - - -Borrower
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$EP ~2, 56 ~M'~6
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CONDOMINIUM RIDER - i to 4 Family-6. J5-FNMA1fHtMC UNIfORM IItSTRUMEMT ~
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