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CUNI)OMINIUM RIDER .
Ttus Co~aoM~r~wy Rtn~R is made tfiis . . . . . . . . . . . . . . . ~ . . . .day ot. . . . . .,~~~Y:Y. . . . . . . . . . . .
19. TT.. and is inc~rpo~ated into and shall be d~~ned to amrnd and supplement a Mortgage. De.ed of Trust or Deed
to Secure D~bt (herein "security inst~ument' dated of even dat~ her~with i~en b~y the undersigned (herein
"Borrower") ta sccure R~rrower's Note to. .~ATE.IT!TERPRISFS,1?~R'~AGE GURPORATIQV, , , , , , , , , , ,
lhcrein "I.cnder"~) ~and covering the Pr~peny described in the security instrutrtent aad
located at. .OC~AN~'.~04b. .9710, AlA, ,Jensen Beach,, Florida. , 33457 . . . . . . . . . . . . . . . . .
. . . . . . . lPrope~tp Addnss)
Thc Pro ert • com~~c
s~ a un t in t e h~g~ wi ~n~ v-!c~ec~ tcrest in the common elements of. a condaminium
ptoj~ct nown as pUI.:~A?~IA .~IC:~:~~Y!" ~~11N11~1, ih~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~
• (Nsrrw of Condominium Pro~ect)
. . . . . . . . . . . . . . . . (herein "Condominium Project").
~
CO~DO~lINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrowcr and Lender further covenant and agree as follows: -
A. Assessmenls. Borrower sfiall promptly pay, when due. all assessments imposed by the Owner~ Association
or other governing body of the Condominium Projtct (herein "Owners Association") pursuant to the provisions of thc
declacation, by-laws, code of regulations or other constituent document of tfie Condominium Project.
B. Hazard lnsurance. So long as the Owners Association maie?tains a"master" or "bianket" policy on the
Condominium Project which provides insurance coverage against fire, hazards included witl~in the term "extended
coverage; ' and such other hazards as Lcnder may require, and in such amounts and for sueh periads as Lender may
require. then: '
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to I.ender of one-twelfth
of thc 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 UnTorm Covenant 5 regarding application of hazard insurance proceeds shall be ~
superseded by any Qrovisions of the declaration, by-laws. code of re~ulations or other constituent document of the ~
Condominium Project or of applicable taw to the extent necessary 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. ihe immediatel~ prcceding sentence shall be deemed to have no force or eRect. Borrowe~ shall givc
Lender prompt notice of any lapse in such hazard insurance coverage. =
ln the event of a distribution of hazard insurance proceeds in lieu of cestoration or repair following a loss to 3
the Property, whether to the unit or to common elements. any such proceeds payable to Borrower are hereby assigned _
and shali be paid to L.ender for application to the sums secured by the security instrument, with the excess, if any,
paid to Bonower.
C. I.ender's Prior Consent. Bormwer shall not, except after notice to Lender and with Lender's prior written
consent, panition or subdivide the Property or consent to:
(i) the abandonment or termination of the Condominium Project, except far abandonment or termination
provided by law in the case 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.
or equivalent constituent document of the Condominium Project, including, but not limited to, any amendment which
would change tht percentage interests of the unit owners in the Condominium Project; or
(iii) tfie ef~ectuation of any decision by the Owners Association to terminate professional management and
assume self-management of the Condominium Project.
D. Rtmedies. If Borrower brcaches Borrower's corenants and agreemtnts hereunder, including ihe covena»t
to pay when due condomiaium assessa~ents, then Lender msy invoke any remedies prorided nnder the security
instrument, including, but not limited to, those provided under UniEorm Corenant 7.
IN WITNESS WHEREOF. Borrowcr has executed this Condominium Rider.
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` t1NiH0IV~ ~ URRO -eo..owe.
J ~ --Bo?rower
' FILEO AMD
sT tUC1E COUNTY F~,j_
CIERK
C p~~j~ ~pURT '
RECOP,O YERiFIfD~
CONDOMINIUM RIDER-1 to4 Family-6175-iNMAJFBIMC UNIFORM INSTNUMENT J~~ ZU ~r 49 aH ~77
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