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~ ~ ' ~ CONDOMINIUM RIDER ~
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TIi1SCOAIDOMINiUM RIDER 1S Itladt (h15. . . . . . . . . . . . . . . . . . .day ot. . .~4. . . . . . . . . . . . . . .
19.~T and is jncorpocatcd into aad shall bc dccmed to emend ~nd supptement a Mo~tgage. Dced ot Trust or Deed
to Secu~e Debt (herein "~e:curity instrumc~C' da o[ even date hcrewith,,g~v~e~n b hc undenigned (her~[n
•,Borrowc~") to securo Sorrovrcr'a Note to..~~.~~~~.h~~~:~~.~~T~~...........
.(hercln "~ndcr"~~ ~and oovering the Property d ribcd in tho security instcvment and
located at. .OCF+AN~.~. .1~T. :a .9710 AlA, ,Jensen Beac,hs. Flq~~.. 33457 . . . . . . . . . .
tAroo«a rwo~ss~
Thc Pro rt comj unit ~~~p ~I~n~~y~~~c~_ ~tcrest in thc common ekments of. a condominium
project known as P(J~~ CIC~ANl:~ •~iD•~iAVIUNI• ~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Nsn+. a coneonrn~wn woHcu
. . . . . . . . . . . . . . . . (herein "Condominium Project").
CO:~DOMINIUM COVENANTS. In addition to the covenants and ag~ments made in the security imtrument.
Borrower and Lendc~ further eovenant and agroe as follows:
A. Aa,sessmeefs. Borrower shalt promptly pay. when due. all assessments imposed by the Ownets Association
or othcr governing body of the Condominium Project (herein "Owncrs Association") pursuant to thc provisions of the .
' declaration. by-laws, cak of regulations or othe~ constituent document of the Condominium Project. •
B. H~rd Iesuraace. So long as thc Owners Associatian maintains a"master" or "bla~kct" policy on the
Condominium Project which provides insucance rnverage against firc, hazards included withia the term "extended
coverage;' and such other hazards as L.enckr may rcquire. and in such amount: and for such periods as Lendec may
requi~e, then: •
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lende~ of oaMwetfth
of the premium installmeots for hazard iasurance on the Property; -
(u) Borrower's obligatioa under Uniform Covenant S to maintain hazard insuraace ooverage on the
Property is deemed satisBcd; and .
(iii) the provisions in Ua~orm Covenant S regarding application of hazard insuranve proooeds shall be
superudcd by any pr+ovisions of tbe declar~tioa. by-laws. cade of rcgutationt or other constituent documeat of the
Condomi~ium Project or of applicable law to the eatent necessary• to avoid a conflict between such provisions anci
the pmvisioris of Uniform Covcnant S. For any period of time during which such hazard insurance coverage is not
maintained, the immediately proceding sentence shall be deemed to have no force or effect. Borrow~r shall give
Lender prompt notice of any lapse in such hazard insurance coverage.
ln the event of a distribution of hazard insurancx procceds ia lieu of restoration or repair following a loss to
the Property, whether to the unit or to common elements, anx such proceeds payable to Borrower are hereby assigned
aad shall be paid to I.ender for application to the aums secuc~ed by the socvrity instrument, with tbe excess, if any,
paid to Borrower.
C. Leader's Prior CoascsL Borrower shall not. oxcept after notice to L.ender and with I.ender's prior writtea
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consent, partitioa or subdivide the Property or oonsent to:
(i) the abandonment or termination of the Condominium Project, except for abandonm~nt or termination
provided by law in the case of subatantial destruction by fire or other casualty or in the case of a taking by oondemnation
or eminent domain;
(ii) any material amendment to tbe declaration. by-laws or code of regulations of the Oa?ners Association,
- or equivalent constituent document of the Condominium Projcet, including, but not limited to, any amendment which
~ would change the peraatage interats of the unit owners ia the Condominium Project; or
(iii) the effectuatioa of any decision by the Owners Associxtion to terminate professional management and
~I assume self-management of the Condominium Project.
~ D. Remedia. U Borwwer b~ Borr~uwer's co~enaats and agriea~eats bereander, ~ncladina tbe ea~ensat t
; to pa~ r?hea dne eondomtnt~ assessmeots, fbes Leader may invoke ~ay rswedies prnridcd ander t6e secmrity
' iastrument, inclading, but aot Ifmited to, tbose pruvided ender Unifor~ Co~seant 7. -
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I~I WITNESS WHEREOF, Borrowcr has exccuted this Condominium Rider.
~T. WC~ C~NT1r fl~.
Roo ~t roi~ius • ~
CLERK HICUIT COURT ~L C~ ~ r f
R~r~F % yFplilEO `
Ju~ 23 I~ s PN'11
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CONDOMINIUM RIDER-t to ~ Fa~ai~r-el~s-FtaulFNU~C uN~FOpt~ rnsTRU~Nt
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