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CONDOMINIUM RIDER
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~'~'t~~s CoKnatNiNw~t RinER is made this. . . . . . . . L;._i.,l . . . . . . . . . . . .day o~t
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~G-C._ll:~:-4':~ : . . . . . .
19.;!~.; and is incorporated into and shall be decmed to amend and supplement ~ Marfgage. D~:ed of Trust or Deed
to Secur~ Dcbt (herein "security instrumenC datcd o[ even date hercwith iven . b~• the undersigned (herein
"Borrowcr") to sccurc Borrowcrs Notc to. .~ATE,TNTERPRISFS,I~UR'Y;~GE. CO,RPORt1TIAV, , , , , , , , , , ,
. .(herei~ "Lender"~) and covrring the Property described in tfie security instrument and
located at. .OC~AN~'. 4~~. .9710, AlA, ,Jensen Beach,, Florida, , 33a57 , , , , , , , , , , , , , , , , , , , „
. • . • . . (Property /Wdress)
The Property camp~nitOC~~ vstil\'WMI~vt~'
1e~.i,~tcrest in the common elements of, a condominium
projcct known as .....................(J()t..........~:........................................ -
(Nsms of Condominiuen ProieeU
. . . . . . . . . . . . . . . . (herein "Condominium Project").
CONDOAlINIUM COVENANTS. Ifl 8a(IIII00 t0 tI1C COVCf18f1tS 8D(~ agrecments made Itl the security 111StfUIiltllt~ .
Borrowc~ and Lendcr further covenant and agree as follows:
A. Assessments. Borrower shall promptly pay. when due. all assessments imposed by the Owners Association
or othcr governing body of the Condominium Project (hercin "Owners Association") pursuant to the provisions of the
declaration. by-laws, code of regulations or other constituent document of the Condominium Project.
B. Hazard Insurance. So long as the Owners Association maintains a"master" or "blanket" policy on the
Condominium Project which provid~s insurance eoverage against fire, hazards included within the term "cxtended
coverage; ' and such other hazards ac Lender may require. and in such amounts and for such periods as Lender may
requirc. then:
(i) Lcnder waives the provision in Uniform Covenant 2 for the moothly pa~~ment to Lender of one-twelfth
of the premium installments for hazard insurance on the Property;
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant S regarding application oE hazard insurance proceeds shall be
superseded by any provisions of the declaration, b~-laws, code of regulations or other constituent document of the
Condominium Project or of applicable law to the extcnt necessary to avoid a conflict between such provisions and
the provisions of Uniform Covcnant 5. For any period of time during which such hazard insurance coverage is not
maintained, the immediately preceding sentence shall be deemed to have no force or effect. Borrower shall givc
Lender prompt notice ot any lapse in such hazard insurance coverage.
ln the event of a distribution of hazard insurance proceeds ire lieu of restoration or repair following a loss to
the Property. whether to the unit or to common elements, any such proceeds pa~•able to Borrower are hereby assigned
and shall be paid to Lender for application to the sums secured by the security instrument, with the excess, if any,
paid to Borrower.
C. I.ender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written
conseni, partitian or subdivide the Property or consent to:
~ (i) the abandonment or termination of the Condominium Praject, except for aba~donment 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 material amendment to the declaration. by-laws or code of rcgulations of the Owners Association.
or equivalent constituent dacument of the Condominium Project, including, but not limited to, any amendment which
would change the percentage interests of the unit owners in the Condominium Project; or
(iii) the etTectuation of any decision b~ the Owners Association to terminate professional management and
assume sclf-management of the Condominium Project.
D. Remedies. lf Borrower breacfies Borrower's corenants snd agreemeats hereunder, including the covenant
to pay w•hen due condominium assessments, then Lender may invoke any remedies provided under the security
instrument, inclnding. but not limited to, those provided under Uniform Covenant 7.
IN WITNESS WHER[OF. Borrowcr has executed this Condominium Rider.
~ FtLED A'+~ !~tC~~~DED ~j/ yD
~ ST. ItJC~E ~~ttli'+. T f U. 'v J~-•• Ls...+
FQ~E ~ ~ ~lTRAS - Wllllalil ~lIl tewart -8~?
~ CI~RK ~41T CCJRT
RfC4o~ ;r:. -:E: , i~
H, 6 1 c~ /,_s . _ - `.;f , : r _
~CT ~ s SZ a 7 ~ i
sor?or.~r
Barbara Stew~art
~=~E~.if;f;
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~ CONDOM~NIUM RIDER-1 to4 family-6175-FNh1AlFHlMC UNIFOaM INSTRUMENT
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