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. CONDOMII\IUM RIDFR
T~iis CoHOOrt~Niu~t R~a~R is made this . . . . . . . . . . . . . . . . .~S1~61. .day~ of . . .APril. . . . . . . . . . . . . . . . .
19. 7~.. and is incorporatcd into and shall bc dcrmcd to amcnd and supplcmti~t a~lortgagc, Dccd oi Trust or Dced
ta Sccurc Ihbt (hcrcin "security instrum~•nC datcd of c~•e~ datn c~~~with i~~cn b~ thc undcrsigncd (hcrcin
"Borrawri to sccurc IIorrawcr's Notc to. .~ATE.F.I~'IERPRISES. I+pRfi(~~~GE, C~,RPORATIQ~. . , , , , , , , , ,
• • •.C'CAN~~.702rein',~9710r~~ Jensen 8each,~Florida ~33~57e sccurit~• instrument and
locutcd at . .0 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(PropeAy Add?ess)
Thc Propccty comp ~~,s~~ ~un
it in ta c h• ih 4.n!~-~Sd~ int~rest in th~ rummon chr~~cnt. of, a condominium
projcct known as. ~~~1NA U~C~~~\~ ~\~11~1tk`i ~\'E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
. . . . . • • • . . . . . . . . . . • (Name of ConOominium P~oiecq
. . . . . . . . . . . . . . . . (hcrcin "Condominium P~ojccC').
Cortoo~t~tv~unt Co~'ENANTS. Itl addition to the co~~~nants and agre~ments madc in the securit~• instrument,
I3orrow~: r and Lendcr further covcnant anJ agree as follo~~~s: -
A. Asxssments. Borrower shall pmmptl~ pa}•. ~~'hen due, all assessments imposed by the Ow•ners Association
or other governing bod~• of the Condominium Project (herein "Owners Association") pur~uant to the provisions of the
declaration, by-laws, code of regulations or other constituent document of the Condominium Project.
B. IiazArd Insurance. So long as the Owners Association maintains a"mastcr" or "blanket" policy on the
Condaminium Project which provides insurance co~~erage against firc. hazards included vrithin the term "extended
coverage; ' and such other hazards as Lender may rcquire, and in such amounts and for such periods as Lender may
rcquirc, then: - ' .
(i) Lcnder waives the provision in l~niform Covcnant 2 for the monthiy pa~•ment to Lender of one-twelfth
of the premium installments for hazard insurance on the Property; ~
(ii) Bonower s obligation under Unifonr~ Covenant S to maintain hazard insurance cov~rage on the
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant S regarding apQlication af hazard insurance proceeds shall be
superseded by any provisions of the declaration. by-laws. code of regulations or other constituent document of the
Candominium Project or of applicable law to the extent necessary to avoid a con8ict between such provisions ancl
the provisions of Uniform Covenant S. For any period of time during which such hazard insurance coverage is not
maintained~ the immediately prcceding sentence shall be deemed tv have no force or eftect. Borrower 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 restoration or repair following a loss to
the Propert~, whether to thc unit or to common elements, any such proceeds pa~~able to Borrower are hereby assigned
and shall be paid to Lender for application to the sums ucured by the securit~ instrument, with the eacess, if any,
paid to Borrower.
C. I.eadec's Prior Consent. Borro~er shall not, except after notice to Lender and with Lender s prior written
consent, partition or subdivide the Property or consent to:
(i) the abandonment or ternnination of the Condominium Project, except for abandonment or termination
provided by law in the case of substantiat destruction by fire or other casualty or in the case of a taking by condemnation
i or cminent 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 noi limited to, any amendment which
wouid change the percentage interests of the unit owners in the Condominium Project; or
(iii) the eRectuation of any decision by the Owners Association to terminate professional management and
assumc self-management of the Condominium Project.
` D. Remedies. if Borrower breaches Borrower's covenants and agreements bereunder, iacluding the covenant
~ to pa~ when due condominium assessments, fhen Lender may invoke any remedies provided under the secarit~
instrument, inctuding, but not limited fo, those provided under Uniform Covenant 7.
;
IN WITNESS WHEREOF, Borrowcr has executed this Condominium Rider.
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p RDE~ RI(~~RD N. PIGEON -eoi'°'"~•
Lt0 ~M CO~M~Y
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4;t:i 19
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