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CONIaUMINIUM RIDER . ~
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S CONDOMINlUM R1DER ~S il1s~ tllis. . . . . . . . . . . . . . . . . . . . . .day of . . . . . . . . . . =
19. y.~Qsnd is incorporated into and shal! be dcemed to amend and aupplemerit ~ Mortgage. Dced of Tn+st or Deed
to Secure Debt (hereirt "aecurity instrument"~~ ~t~ o~f cven~ ~te hecew~it~h
~ven ~y t_hc~ undersigned (herein
••Horrowec") to accure Borrower's Note to. AZI.STATB,ENTERPRI$F.~S. ~!!~Ktt~!GB ~'ORATiQV. . . . . . . . . . . `
.(herein "L.cader" and covering the PropeKy descdbed in the secu~ty instrumant and ~
locacod ac. .OC~AN~~T. : .4 . .9710 ,Jense~ ,Bqach,, Florida, , 33457 . . . . . . . . . . . . . . . . . . . t
t~roo••er ~wa~ #
Thc Pm rt com n t' ~t~a~~~ y~~~~~
terest in the common elementa oE. a condominium
projcct tcnown as p~~~ b~C~A~~ . ~~f TNiU!~I. QNE . . . . . . . ~ . . . . . . . . . . . . . . . . . . . . . . . . . . . .
' (IisnN of CoMlonNniwn P~'olKq
. . . . . . . . . . . . . . (hcrein "Condominium Project"). ~
COPIDOMIMUM COVBNANTS. In addition to the oovenants and agoaments made in ?he security inswment.
Borrower and Lender further cavenant and agroe as follows:
A. A~ts. Hornower shall ~rnmptl~? pay, when d~u. al! assessments impcued by thF Owaers Association .
or other governing body of the Condomjnium Pmject (herein "Owners Association") pursuant to the pmvisions of the
declaration, by
laws. code of tegulatioas or other constituent document of the Condominium Peoject.
& Hassrd 1~ce. So loag as the Owners Association maintaias a"master" or "blanket" policy on the
Condominium Projoct which provides insura~x~e coverage against fire, hazards included within the term "eatenclod
ooverage; ' and .such other hazards as Lender may require, and ia such amounts aad for such periods as Lec~de: may _ -
require. thea: - _ -
(i) Lender araiv~s the provision ia Uniform Covenaat 2 for the moathly payment to Lender of onatwelfth _
ot the premium instaltmeats for bazard insurance on the Prvperry; .
(u) ~ Bonawer's obiigation under Uaiform Covenant S to maintain hazard insuranoe coverage oa the
~P~~Y is deemed satis6ed; aAd
(iii) the pravisiona in Un~orm Covenant S regarding application of hazacd insurance proceeds shall ba
superseded by any provi3ians oE the declaration, by-laws, code of regulations or other constituent documeat of thc
Condominium Projoct or of applicabk taw to the exteat necessary tb avoid a conflict between such prrnrisioas and -
the provisians of Unifonn Covenant S. For any period of time during whic6 such hazard insurance coveragr is not
maintained, the immediately procediag senteace ahal[ be deemed to have no forre or effect: Borrower shal! givc
Lender prompt notice of any lapse in such hazard insurance coverage. ' - _ ~
In the event of a d"utribution of hazard inwrancc pt+oceeds in lieu of ratoration or repair following a loss to -
th~ Pr~erty, whether to the upit or to eommon elements. any such procxeds payable to Borrower are hereby assigned
~ and shali be paid to I.ender for application to the sums secured by the security instrument, with the excess, if any, -
paid to Bor~+ower.
C. Leudels Prior CoASem1. Borrower shall not, except aher notice to [.ender an~ with I.eader's prior writtea
cansent, partition or subdivide the Property or oonsent ta
(i) the abandonmeat or termination oE the'Condominium Pmject, except for abandorunent or termination
providod by law in the case ef substantial destcuction by 6r~e or other casuatty or in the cau of a taking by condemnation
or eminent domain; -
(u) any material amendmeat to the dociaration. by-laws ar code of regalations of the Owners Association, ~
or equivalent constituent document of the Coadominium Project, iacluding, but not limited to. a~y amendment which
woutd chan~e the perceatage intec~ests of the unit owners in the Condominium Project; or
-(ui) the effoctuation af any decision by the Owners Association w terminate professioaal management and
assume xlf-management of the Condominium Projoct. ~
D. Re~sdks. It Borrower bnac6a Borrowe~s corenaab aad asreee~ents berenadar, inclndius the corenaM
to pay wbea doe coAdomiaiww ~eets, tbeo I.esder a~ty invoke say remedks pmfidal andcr the secnrit~r
tqsdrumeat, iuclud~, bet pot limjted to, thoae prorided onder Uai[orm Coreaant 7.
TN WITNESS WHBREOF, $orrower has executed this Condominium Rider.
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