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Home My WebLink About0708 C'UN 1) O iVl I I~ ~ U M lz I D L lt 'Ilus Cn~.rx~au~iu~t K~ut.K i. maJc thi.. . . . . . . . . 4~ . . . . . . . . . . . . . ~ay of . . . ~ril . . . . . . . . . . . . . . . . 19 anJ is in«~r~+c~ratcd int~? an~l .hall bc ~~tinuJ t~~ :~m.•nJ and supplcmrnt a htortga~c. Ihcd of Trust o[ Ihcd t~, Srcurc Ihht (hrr~in "sccurit~ imtrum~nt") ~late.i c~f r~cn ~latn c~r~~~~ith. &i~•cn b~ thr unJcrsigncd (hcrcin 'H"rru~~•cr") tu ~~•rurc liorm~~~rr's ~~?tr t~~. . .InV~est1i1B11t SECUXlties,~ ,II1C. . . . . . . . . . . . . Ix r~in "Lcndcr" ) anJ covcrin th~ Propcrty ~Ir.crib«I in thc srcur~ty instn~mcM anJ .[hiit~ 6U1,~ Iiutchinson Islar~d Club, .1~410 Hic~hway_ ~lA, .Jensen_ Heach Fla.. 33457 (Prnprrty Addres5) ~I i~: 1'r~~{k riy r~~mpi i.rx a_ ~!njt in. tu C~t rr ~~ith ai1 un~li~ i.l.~t intcrr•t in thr r~~man?n clrmcntc ~if. a concloniinium ~~~~~jrrt kn~~vn . . Hl1tCR1.i1SO~T1 I~~ C1UD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (~lame ol Condom~nwm Pro~ecp . . . . . . . . . . . . . . . . ( hcrein "Cuncluminium Projcct" C'i~~t?o~ti~iurt Co~•~-~.~tit~. In additiun t~~ thc c~vcnants anJ agrc~mcnts mad~ in the srcuriry instrument. tii~rraH•rr and I_cn~rr (urthcr c~~~~rnam and agrrc a. f~?II~~~~~: :1. ,~ssessmenls. Born~~~~~r shall prampth' p~)•. ~~~hcn duc, all a~~r~timcnts imposcd by thc O~vncrs Association i?r ~thrr gavcrning lxxl~~ oi thc Cand~~minium Prujcct Ihcrcin "O~~•n~rs A~~oci:~ti~?n") pur.uant to thc pro~isions of thc dcclar:tti~m. b)•-la~~'s. rcxlc c~f « gul.itiun~ or othcr cun~titucnt d~xumrnt ~,f thc Condc~minium Projcct. li. Ilaz~rcl liuurancc. S~~ I~~n~_ a. thc n~~°nrn Ac.ikiatiun n~aiat:tins a"m:+~t~r" vr "hlanket" pc~licy on thc ('u~icli~minium Prujcct w~hich proviJ~s in~urancc c~~vcragc a~,:~in~t lir~, hazar~ls inclu~~~l ~~•ithin thc tcrm "cxtcndcd c~~~•cragr:' and surh othcr hazards as I_cn~[cr ma~~ r~yuirc, an~l in ~uch :unuunts ancl for su~h pcrials as Lcndcr may rcyuirc, thcn: (i) Lcndrr ~~~aivcs thc prrn~iciun in tJeiform C~~.-cnant 2 for thc monthh ~~a~~mcnt to Lcndrr o[ onc-h~cl[th ~~F tbc prcmiuni in~ta(Imrnts fur hazar~! incuranc~ on thr Pmprrty: ~ ' (ii) Burn~~~•cr's oblikation und~r Unif~~rm Cu~~cnant S t~ maint~in tiazard insurancc co~•cragc on thc Nropcrt~~ i. dccm~~l satisticd: and ~ (iii) th~ pn~visions in Uniii,rm ('~n•c~r:nt 5 rr~_ar.lim_ ap~~li~,ttion of hazard insurancc procccds chall bc .u~nrx~cd by an~ prrn•isi~~n~ ~~f thc dcclar:t!ian. h~-l:m.. r~~.l, nf rc~~ul:~ti~,ns or c,thcr cunstitu~nt dc~cumcnt of thc ('~~ml~~minium Prajcct or of ap~~liraMc laa t~~ thr c~t:nt nrcc.~ar~~ t~~ :t~•ui~i a a~nllict bct~~~.:~~n ~uch pra~isions anu Ihc pruvicions c?f l;niform C~v~nanl 5. f~~r :~nc {kriocl ~~f tinir durini ~~-hi~h su~h haz:?ril in~uranre co~•cragc is not ni.~intainc~l, thc iinmrdi:~t~l~• ~~rrc~~lim~ ~cnt:nc< <hall hr ~I~cmr~l tu I~:?~~~ nc~ f~~r~c ~~r c(icct. liorro~vcr sl~:ill gi~c Lcnder prompt nutire ~~f ant• L•~pc~ in iurh hazanl insuranr~ cu~•cia,ze. In thc e~•rnt u( a distrihutiun uf hazarJ in~urancc prckccdc in li~u of restura!iun or rcpair follo~cin~~ ~ toss to . tl:c Prrpcrt), ~~~hcthrr to thc unit ar t~? cummon cl~mrnts, am~ surh prc+ccr~lc payahlc te I3orro~~•cr arc hcrcb) assigncd an.l ~hall bc paiJ tc? Lcndcr f~~r applicatic~n tu tl?c sums s~curccl h~~ thc s~curit~~ instrumcnt, ~+~ith thc cxccss, i( an~, ~~ai~l t~+ i3uiro~~cr. l.cndcr's 1'rior C~n~rnt. I3~,rr~?~~cr ~hall n~~t. r~ccpt :dtrr R~~tic~ tc~ Lcndcr and ~~•ith LcnJcr's prior ~~rittcn cumcnt. partitiun ~~r tiubdi~~id~ thc Pr~pert~ c~r c~~nc~nt tc,_ ' (i) thr ahand~mmcnt ur tcrminati~~n ~~f thc C~~n~f~~minium Pr~~j~ct. rxre~t for ahandc~nmcnt or tcrmination E ~~r~i~~i~lcd b)~ la~~• in thc casc of .ub.tantia) d.structi~,n hc firc c?r ~+thcr ca.ualt~~ ~~r in th; c:ur of a takino b~ condemnation ; • - ~ rr ~ittin~nt ~~~main; ~ (ii) an~ m:?trrial :+m:•mlmcnt t~? th~ cl~claratiun. h~--l:?~~. <~r rc~Jr of r~,~ulati~~ns ~~F thc Owncrs Association. ~~r ryui~•alent c~,n~tilurnt duc~nn~nt ~~f thc t'„~:ci~~minium I'r~~j::t. i+ulu~tim_. hut nc~t lirnit~~l tc~, any amcndntcn[ ~shich K~~~uld rhangc thc ~krcrntagc intrrc~t. i?f th: uni~ ~~,~n~r: in thr ('~m~luminium Proj~ct: ar liii) tht cfFrctuatii,n ~~f an~~ ~~ci~i~~~i i•~ th~ (h~r~ci. ~\•s~?~iati~~n tu tcrmin:~tc ~rc~ics~iunal managcmcnt and a~~umc sclf-mana~_=cmcnt cif thc Cun.i~~minium Prujrct. i). Rcmcdics. II Borru~~er hreaches I;orro~scr'~ c~»enanls :ind a~recmcnis hcrcundcr; includin~ ihe co~'enant Io pa~ ~~hcn due c~~ndominiu~n a.~cssment~. Ihcn I.endrr ma~ imnl.c ~nc remcdies pro~~idcd under Ihc sccurit). iuctromrnt, includin~. but nof limited I~~, Ih~~~e pro~id~d undcr t'nifnrm Co~enant 7. 1~ ~~'rr~~ ss ~~~nr:aFOF. t3~~rn•w•cr hac rx~cutc~! thi. Con~lc,minium Ridcr. , • ` - - - ~ = - - ~m.~.~. ~ - - ~~~`C .~o-~~~!~- _ : This dxumen r F~i~.""~ -eor.~~. ; t was p epared by :lohn L Gomall, Jr., Cofer. Beauchamp & Hawes Suite 200, Peachtree & Broad Building y Atlanta, Georgia 30303 F ~EO AND RECOROiO ~ ~ i~. ~ER POITilAS LA s~~ CLEIIK CIRCUIT COURT ~ 8 RE 0 YERIFIEO~--- pu, ~ COYDOtdINIUM RIDER--~ ~o~ Fe:n'iy--fi`15--FN:IA/FHLNlC UNIFOA~A INST~HTS 2 52 ( It ~ ' Ci lfi:~ Z~ Pa6E ~ . ~ _ . v ~ , .;.u-~,~ - .