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HomeMy WebLinkAbout0703 , . . ~ • . CON I) ONl I i~ ~ U M lt I ll L lt . . t 'f'~usCo~tw~t~:.~~~~~ Riat.K is ma~c thi.. . . . . . . . . . ~~th . . . . . . . . . .~la~~ uf. . .April . . . . . . . . . . . . . . . ~ 1~~. and is i~cor~x~rat«I intu anJ ~hall b~ dccm~J t~~ am.•n~ anJ .uppicm~~t a Mort~a~c, Ikcd of Trust or D~:cJ ~ i~+ ~rurc Dcbt (hcrrin "srcurit~ in.trum.nt") dat.J c~f r~•rn ~atc hcr.~vith, gi~•cn b~ thc undcni~;nrd (hrrcin t '4i~,rn,..~rr'•) to ~rcurc u~rr~,~~~r~s notr ~~,...MQrtgag~ .In~le~.tment. SiecuXi~.~es....Inc......... ' . .(h~rcin "Lrndcr") an~ cu~rrins thc Pru ~t~ dc.critkJ in thc sccurity instrumcnt anJ ~,•::~«,t U~?~t .4A~.~ . H~t~~~~g4~. .~s~ans~. .G~u4~..~44.~4. H~a~Wc~Y. .A~~1.. J~ns~~. $~~~h. Florida 33457 ~~.ov~•~~~«..~ ~ 'fh.• 1'rc~pcrt~- ~rm~?ri.:. a unit in. t~?~~th~~ ~~ith ~n wiJ+ciJr~l inlrrest in th~~ «,mitu?n rlcmrn~c uf. a a~nJominium ' E~r„ir~c kn~~vn a~. . Hutchinson, _Island_ Club . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~ . . ; (Name ol Condom~nwm Pro~ect! / ~ ................(hcr~in"C~mJuminiumProjrct"). _ ~ .('o~~o~t~v~u~t Crn•r~,~~TS. In additiun tu th~ c~vcnant. anJ .+grc.mcnts n~adr in th~ srcurity in.trumcnt. Eiorm~~~r~ an~l I_cnd~ r turthrr c~~~~rnam and a~rec ac („Il~~~~~s: A. Asses.smcnls. Borro~~~cr shall prumptl~• par, ~+•hc~~ duc, all ascrssmc~t. imposcd b~ thc O+vncrs Assc~ciation ~~r ~thc~ gnvcrning boJy ~~f thr Condominium Pmjc~t.lh~r~in "O~~~nrrc A~sc~iati~~n") pur~uant to tbc provisiuns uf thc Jccl:uatic~n, by-la~~~s, axlc ~f rc~ulatic+ns c?r athcr ccm,titucnt ~}~xumcnt ~f thc Condorninium Pmjcct. It. Ilaza~d lnsurancc. S~~ I~~I1L 'JC thc O~~~ncn A«~~ciati~?n maiutain; a"ma~~cr" or "blankct" ~licy on thc Cund~~minium Proj~ct ahicl~ p~c+viJ~c insurancc r~~vcragc a,~ainst lirc, haiarJs includ~d ~~•ithin thc tcrm °cctcndcd rn~~c~a~~c:' anJ such othri haz~rds ac Lcnclc~ m:,~• rcyuirr, and in su~h am~~unts and far auch pc~icxls as Lcndcr ma~ ~ rcyuirc. thcn: (il LcnJcr ~~~ai~•cs thc prrn•icion in Unifurm Co~•cnant 2 for thc m~nthl~• paymcnt to Lcndcr o[ onc-t~~~clfth ~ ~~t thr prcmium installmcnts f~r ha7arJ insur;~nrr on thc Pr~~rty: ~ (ii) Rorm~vcr's c~hligati~?n un~rr C.'niform Ct?v~nant S to maintain hazard insurancc co~•cragc on ihc Pru~xrt~~ ic d~tin~c~ satisti~~l: and ~ (iii) thc provisions in Unif~enn C'~~~~cn:~nt 5 rc,~arJing applicatic~n of hazard insura~cc prc~cccJs shall hc ; , wjnr~rclcJ b~• an~~ pru~isions ~~f thc dccl~ratiun. b~-la~.c, c~~l.: ~~f rr,uL•~ti~~ns c+r ~?thrr cc~nstitucnt dc~cumcnt of thc ~ ('c~n~luminium Projcrt or of applirahlc I.i~~ to thr cxtent ncccssary tu a~~~~i.i :i canflirt t~ctw•ccn ~uch provisi~ns anc7 ~ thc pm~•icions of l~nifc?rm Co~•r~:~nt S. 1=c~r an~• ~ri~xl uf timc duri~ig ~~hi;h .urh hazani inwrancc eo~•rraec is not ~ n~:~ins~incJ. thc immrdiatch• prccc~lin~ .cnt~nc~ chall ln dremcd tu h:~~~ n~~ i~,rcc ~?r rQrct_ 13c~rrc~a•cr shall gi~•c ~ 1_rnd<< prumpt notirc c?f any lapx in cuch har:uJ insuranc~ co~•cra~c. ~ In thc c~•cnt c~f a Jistributiun u( h~zard incuranc~ pnR~cJs in liea rc•t~?ratiun-or rcpair fullo+~~in~ a luss tu ~ tl~~ Yropcrt~~. ~~hcth~r ta thc unit ur ti+c~?mmon rl~mcnts. an~~ such proccc~tc pacc+hlc t~~ [3orr~~~rcr arc hcrcby ascigncd ~ aml .h:~ll bc paid to Lcn~lcr for applicati~~n to thc sumc s~curc~t b~~ th. <<curit~ instrumcnt, ~~ith thc cxccss, if an~•. 9 paicl lu I3<~rro~~~cr. ~ C. Lcndcr'~ 1'ri~?r Conscnt. 13nrr~?~~rr ~hall nut. c~cc~t aftcr n~itic. ta Lrndcr ;~ncl ~~•ith Lcndcr's priur ~rrittcn ~ cc,nu;nt. partitivn ~~r •u~ii~•idc thc PraE+c rt~• or c~,nccnt t<~: (i) thc ahand~+nmcnt or tcrmi~atiun ~~f ~hc C~mJ~~minium I'rujrct, r~cc~t foF ahan~lrnmcnt or tcrmination ~ ~r~?~ iJcJ by la~. in thc ca~c of sub.tantial ~~,trurti~,n h~• tirc ~~r rth~r casutilt~ ~r in th~ rasc of a taking by condcmnation ~ ~~r c~uincnt J~,main: 3 (ii) an~ matcrial :~n~rn~lmcnt tu tfi~ cl~ciar~~i~,n. hc-I:i~~~ ~~r a~~l~ uf rc,_ulatiuiu uf thc O~~~ncrs A~~cxiation. ~ . ~ ~,r ~•c;uic:~lcnt c~,nstitu;nt Jucumrn~ ~~f thc ('~m~i~~mi~;iwn Pn,j~~t. inclu~iin;. hut n~?t limit~cl to, an}• am~~~~lmcnt ~~~hich - ~~uul~i ~h:~n~c thc ~rc~nta,~c intcr~~t~ ~,f ~h: unit u~~ncr, in th~ C~un~l~~mini?un Pn~jcct: ~~r liii) thc efi~rtuatiun ~?f :m} dt:i~i~~n i,~ thc Chcn~rs As.~Kiati~m t~, tcrminatc pr~~fcssional managcmcnt and , Cun.ic~mmium f'n?jcct. R a.«unc sclf-man~icm~nt ~hc - . ; 1). Nrmcdics. If Bnrru~~cr bre•rchcs nurroKCr'. co.cn:~uls and a~;rccmcntc hcrcundcr. includin~ thc co~cnant ~ Iu pa} ~~hen due cond~?minium a~sc+~n~ent~. thcn Lcndcr ma~~ iu~okc an~ remcdies pro~idcd unde~ tl~e securit~ ; iu.siramcnt, includin~;. but nut limitcd to, lhose pro~idcd andcr l:niForm Cu~cnant 7. ~ I~ ~~'rr;vtss ~~rHFRE(1F, Borrru'rr has rxrrutcd thic Cc?n~l~?miniun~ Ri~3.r. ~ ~ - ~ ( ~ ~ I ~ ~ - ~ j FfLEO ANp RECOROED ` ~ sT LUCIE COUMTI? fl~ RA E-DU - --------e rrower s AOCER ppItRAS ' ~ ERK C;~ OURt ' i . ~~F E9 C ' - ~ - - lG/~~~-~ ; ~~~'i"t! A E~ -9o..o+ve. APR 16 2 0~ PH f ~ ; ; COYDOtdINIUM RIDER-?coacam~~Y-~~;S-Fh~a~;fNl~dC UNIiOAi«NSiRUMfNi f E ~ ? - ~ i ~ f • ~ t ' F ~267 ~ 701 ~ ~ - - ~ ~ - ~~~~~.x. T` ~~s"~~ -