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CONDOMINIUM RIDEIt sSB~~, ~g~
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Tt~is Co~ootHi~tunt RtnFtt is made this . . . . . . . . . . . . . . . . . . . . .day of. . . JanuarY. . . . . . . . . . . . . . .
19. ~ and is in~orporatcd into and s1~a11 be cieemed ta amend and supptcment a Murtgage. Decd of Trust or Deed
to Sccure Debt (hemin "security instroment" dated of even datc hcn;wit~hL~rv~en b~Y the unde~signed (herein ~
"Borrow•cr") to secure Borro~ver's Note to. .~ATE.FNIERPRISES, hAKi,tiAGF, (.vRPORATIQV, , , , , , , , , ~
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Ol ~ =~,9710 ~AlAi JensengBeach~~Florida~33457e sccurity instrument and
locat~d at. .O~P~' . . . . . . . . . . . . . . . . . . . . . . . . . . .
(WopatY Addnss)
The Property compri. 'e~s~~~unit in t e hg~ wi un v!de i terest i~ the cammon elements of, a condominium
project l;nown as.O~:~EUVA OCE~~~t-l~ ~~'I~tI~[R?f . .
(Name of ConOom~nium Proiacq '
. . . . . . . . . . . . . . . . (hcrcin "Condominium Project"). ,
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CONDOMINIUM COVENANTS. ]Il 8d(II110~ to the covenants and agrcements made in the security instrument, ~
Borrow~r and Lender further covenant and agree as foltows:
A. Assessments. Borrower shall promptly pay~ when due. all assessme~ts impcued by the Owncrs Association
or other gaverning bocly of the Condominium Project (herein "Owners Association") pursuant to the provisions of the =
declaration, by-laws, code of mgulations or other constituent document of the Condominium Project.
B. Hazard Insurance. Sa long as the Owners Association maintains a"master" or "blanket" policy on the
Condominium Pmject which provides insurance coverage against fire. hazards includzd within the tenn "extended
coverage;' and such other hazards as i.ender may require. and in such amounts and for such periods'as Lender may
require,then:
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one-iw~lfth
of the premium installments for hazard insurance on the Property;
(ii) Borrower's obligation under Uniform Covenant S to maintain hazard insurance coverage on the
Property is deemed satisfied: and
(iii) ihe provisions in UnTorm Covenant 5 regarding application of hazard insuranc~ proceeds shall be
superseded by any provisions of the declaration. by-laws. code of regulations or other constituent document of thc
` Condominium Project or of applicable law to the extent necessar~ to avoid a conflict between such provisions and ~
th~ pro~isions of LJniform Co~enant 5. For any period of time during which such hazard insurance coverage is oot '
maintained. the immediatel~ preceding sentence shall be deemed to have no force or effect. Bomower shall givc
Lender prompt notice of any lapse in such hazard insurance coverage.
In thc event of a distribution of hazard insurance proceeds in lieu of restoration or repair foltowing a loss to
the Propert~, whether to the unit or to common clements. any such proceeds payable to Borrower are hereby assigned
and shall be aid to I.ender for a lication t
a the sums sccured b t s
P pp y he ecurit instrument, with the excess if an ,
y , y
paid to Borrower. . _
C. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender
s prior written
consent, partition or subdivide the Property or conxnt to:
(i) the abandonment or termination of the Condominium Project, except for abandonment or termination
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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 regulations of the Owners Association,
f or equivalent constituent docur~ent of the Condominium Project. including, but not limited to. any amendment which
would change the pereentage interests of the unit owners in the Condominium Project; or
; (iii) tfie effectuation of any decision by the Owners Association to terminat~professional management and
~ assume selE-management of the Condominium Project.
D. Remedies. If Botrower brescbes Borrower's rnr•enants and agreements~eunder, iacluding tlx covenant
to pay when due condominium asseuments, then Lender may inyoke anv r~iud'~ pmvided under the security
instrument, including, but not limited to, those provided under Uniform Covenaet 7.
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! IN WITNESS WHFREOF, Borrower has executed this Condominium Rider.
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EVEL W. DOYLE, by . DOYi~','°.'.",~' -
35rJ81~ as her Attorney-in-Fact - ~
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Saorn to and subseribed beiore me, this 14th day of Janua 977. •
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CONDOMINIUM RIDER-1 to4 Family-6/IS-FNMA/FBLhIC UNIFORM INSTIUMEMT ~~•.4,.:3• ~Y
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