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~ ~ ~ CONDOMINIUM RIDER
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THIS CONDOMINIUM R1DER LS lil8dt thlt. . . . . . . / . . . . . . . . . . . . .day ot. . ~~ber. . : . . . . . . . . a
19 . 7~3. and is incorporatzd into and shaU be daemed to amend and supplement a Mortgage, Deed of Trust or Deed '
to Securc Dcbt (berein "security instrument"~~ ~a~
od of even date herew~t ,,,gi~v,e,,n, b~ ~t~h~e u~dersignod '(hareln - s
••Borrowe~") to secure Borrowe~'s Note to..A?I,LbTATB,FM'ERPI2ISF.S.NCI~~~4~4~.~E'~?~~~~.
.(herei~ "I.ender" and covering the Pwpe,~c,t~y described i~ the security instrument and
locacea ac. :OC1~EIIV~~T. : ?.t13 :i .9710, ,Jense~t Beachs. r~,o~ida, , 33457 . . . . . . . . . . . . . . . . . . . -
_ t?~ov.~r ~ae~
The Pro rt com t pI~y~~~_ ~tcrest in tha common elements of, a condo~uinium
.
p~ Y P~~~~~IC~~11VI~~ .~VD~M~i~fiU~I• QT~ ~U
projcct knoWm ss. .
(NanN W Condomieiwn P~oj~l
. . . . . . . . . . . . . . . . (hcrcin "Condominium Praject"). .
CONDOMINIUM COVENAN75. tn addition to the covenants and agraments made in the security instruraent.
Borrowe~ and Lender further covena~t and agree as folloyvs:
A. AssasmeMs. Borrower shall promptly pay. wh~n due, atl assessments impoaed by the; Owners Associatioa
or other governing ~body of the Condominium Projoct (hecein ".Ownecs Association'~ punuant to the provisions of the
declaration. by-laws, code of regulations or other constituent docuntent ot the Condominium Project.
B. Hwrd I~ce. So long as the Ovmers Association maintaias a"master" or "blanket" policy on the
Condominium Project which provides insurance eoverage agai~st 6re, hazards included within the tecm "eatended
ooverage," and such other hazards as Lender may require, aad ia such amounts and for sucb peciods as Lender msy
rrquirc. then: . ~
(i) Lender waives the provision in Uniform Covenant 2 for the monthly Fayment w Lender of one-twelfth _
of the prcmium instailments for hazard iasurance on the Pt+operty; ~ . • -
(li) . Bornower's obligation under Uniform Coveaant S to maiataia hazard insucance covera~e oa the
Propedy is dcemed satisfied: sa~
(i~i) ttte provisions in Utu'form Covenant S ngarding applicatioa of hazard insuraace proooods shall be
superseded by any pmvlsions of the doclaration. by-laws, code of regulations or other coastituent document of the
Condominium Pr~ject or of applicabte law to the extent necessary to avoid a conflict between sach provisions aad -
the provisions of _Uniform Covenant 5, _For any period of time during which such hazard insurance ooverage is not
maintained, the immediately precading sentence shall be deemed to have no foroe or effect. $otrower ahall give
Lender prompt notice of any lapse in such hazard insurance ~overage. -
In the event ot a distribution of hazard insurance proceeds io lieu of i+estoration or repair following a loss to
the Property, whe~her to the unit or to common elements, any such proceeds payabk to Bornower are hereby assigaed
and shalt be paid to Lender for application to the sums socured by the securiry instnunent, with the e~cess, ii any,
paid to Bomower. -
C. I,eoder~s pci~ CosseM. Bormwer shaii not, ~xcept aftcr notice to L.ender and with Lender's prior arritten
consent. partitioo or subdivide tln Property or consent to:
(i) ttie abandoameat ar termination ~ th~ Gondominium Projoct, excxpt for abaadoament or termination
~ provided by law in the cau of subatantial destruction by 6re or other casualty or in the case of a taking by condemnation .
or eminent domain; ~ - .
j (u) any material aznendment to the doclaration, by-laws or code of ngulations of the Owners Asseciatioa,
or equivalent oonstituent document of the Condomiaium Pmject, including, bu~ not limited to, any ameedment which
would change the percenta~e iaterests of the unit owners in the Condominium Project; or
(iii) the eHectuadon of any decision by the Owaers Association to terminate professional management and
~ assume aelf-management of the Condominiune Project.
D. Rpatedia. I[ Borrower brescba Borrowe~s coreaaats aad ~reeme~fs heeea~der, includieg tLe co~easat
to pay when due condomisinm ssses~eota, tbea I.eoda may tuvolce aep remedies pro~ onder tbe secority
iastrumeel. iududjog, bet not Gadted to, tbose prorided aader Uaitono Corerant 7.
IN WTTNESS WHEREOF, Borrowor has executed this Condonninium Rider.
L. SO~COLCIW -B°"01M"
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~ ARI.~:NE SOKOLOW -s«~...
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• • ~l19 RE~ORDED
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CLE GRCWT COUIIT
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CONDOMINtUM RIDER-1 to 4 Faanih-6175-fNMAJFI1lMC tlNIFORM IMSTRtlMENT -
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