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Home My WebLink About0689 a CUNDOMINIUM RIDER _ _ t11S CONDOMINIUri RIDER IS Itl3(IC (IIiS. . . . . . . . . : . . . . . . . . . . .day of . . . . . ~Gt`-V.~ . . . . . . . . . . . . . ~ 19. and is incorporated into and shall be decmed to amend and supplemcnt a Mortgage, Deed of Trust or Dc:ed to Sccure Debt (herein "security ~nstrument' datcd of even date herc~++it_hig i_~~en b~y thc undersig~ed (herein "Borrowcr") to sccurc Borrower s ratc to. . ~ATE . FI~~TERPRISFS, h10K1~AGr, (,.URPORATIQV, , , , , , , , , , , .(herein "I.cnder') and covering the Property dcscribcd in the sccurity instrument and Iocaced ac. .QC~AN~.A~'. ~10 . .9710. AlA, ,Jensen Beach,, Florida, , 33457 . . . . . . . . . . . . . . . . . . . (ProP~r ~?ddress) "Th~ Propeny compii ~es~ ~a~ ~unit in to e w~ un v~! e ntcrest in the comroon elements of, a condaminium project known as.UK:t~~NE~ OCE~?~11~~.C~lI~Ui~~.~~ (Nsme of Condomi~ium ProjecU . . . . . . . . . . . . . . . . (hcrein "Condominium Project"). Co~~or~iNtu~t CovErtaNrs. In addition to the covenants and agreements madc in tfie security instrument, Borrow~~ and Lender further covenant and agree as follows: A. Assessments. Borrower shall promptly pay. when due, alt asscssments imposed by the Owners Association or other governing bod~ of the Condominium Project (herein "Owners Association") pursuant to the provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium Project. B. Hazard lnsurance. So long as the Owners Association maintains a"master" or "blanket" policy on the Condominium Project which provides insurance coverage against fire. hazards included within the term "extended - coverage;' and such other hazards as Lender may require, and in such amounts and for such periods as Lender may require, then: (i) Lender ~vaives the provision in Uniform Covenant 2 for the monthly payment to Lender af 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satisfied; and (iii) the pmvisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any provisians of the declaration. by-laws. code of regulations or other constituent document of the i,~„~~minium Project or of applicable law to the extent necessan to avoid a conflict between such provisions and the provisions of Uniform Covenant 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 give Lender prompt notice of any lapse in such hazard insurance coverage. ln the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the Property, whether to the unit or to common elements. an~~ such proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the security instjument, with the excess. if any, - paid to Borrower. ~ _ C. Leader's Prior Consent. Bormwer 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 abandonment or termination provided by law in the caze of substantial destruction by 6re 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 regulations of the Owners Association, ~ j or equi~~alent constituent document 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 ef~ectuation of any decision by the Owners Association to terminate professional management and assume self-management of the Condominium Project. - D. Remedies. If Borrower breaches Bomower's covenants and agreements hereunder, including the covenant to pay when due condominium assessments, then Lender may invoke any remedies pmvided nnder ihe security ~ instrument, including, but not limited to, those provided under Uniform Covenant 7. ! IN WITNESS WNEREOF, Borrowcr has executed this Condominium Rider. . . CII~tTRAL ILLINOIS REALTY C0. ~ ~ ~ . ~ , ~ . / - ~ - y ~j ~t.' ~ , -BOIfOWlf .~~",~i%: C1`s / ' !7 j ~•w~ ~'ei~'~~~': ~1~~+ ~ . ' 1 _ C ~ ~ ~'1 . J. r ^ ~ , BY: E~ ~ 1 U ~ 1 ~ : x ' L~ . -Borrower . Y ~i ~ ~ - ~ r:O~s r r~~~ , 3.~G540 ;,c^ ~ i;° . . ~ : ' ~nfa ~?.a k=_swe~E~ - ST.Ii~C;f ~~31f~Tr ~~A. fQ6~ = --~~i'R~S Q~l~(w _ CLfRK C:~ =:tltT COURT CONDOMINIUM RIDER-1 to4 family-6I15-FNMA/FHLMC UNIFORM INSTRUMENT PFrrP". +Ei"F,Ef Ilor Iy ii ~6 AM'"16 E~~ ~ ~S~ :~c~ s~ ~