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Home My WebLink About0346 ~ • , , a CONDOMINIUM RIDER ~ . , 'T111S CONDOMINIUM RI~BR IS tllide thiS . . . . . . . . . . . . . . . . . . . day of . . . . . . . . . • • • 19?T. and ~S incorporatcd into and shall be dccmed to amcnd a~d suPpicment a Mortga -ed of Trust o~ Deed to Sccurc Debt (hercin `•sccurity instrument' d~tATE ~YFIYIERPRI ~~I~qR,'~~,~, ~A,6,C,E~ Ob lRP I;A~IQ~Sned (herein ••Borrowc~") to secure Borrower's Note to. .AI.I.ST . $FS. . . . .lherein "I.endcr" a~d covcring thc Propcrty describcd in the security i~strument and locatcd at. .0(~F.ANS,~T.1207. .9710, ,Jensen Beach,, Florida, , 33457 . . . . . . . . . . . . . . . . . . . t?roo.•er ndo.~s~ Thc Pro rt comIi~ un~t~p. c• v~~~~n~n~ c tcrest in thc common ekmcnts of. a condominium pmject own as PU~C~ c7c:~t1~~~ t,7UVDp?lINII~~. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (N,me a conaomie~un+ wo;.ctl . . . . . . . . . . . . . . . . (hcrcin "Condominium Project"). CONOOMINIUM COVENANTS. In addition to the covcnants and agrecments madc in the sccurit?~ instrument. Borrowr~ and I.endcr further covena~t and agrec as folloars: A. Ass~ts. Borrower shall promptly pay. whcn due. all asxssments imposed by the OvrnerS Auociation or othcr governing body of the Condominiura Pcoject (hcrcin "Owners Association") pucsuant to the provisions of thc declaration. by-laws, codc of cegulations or other constituent documeat of the Condominium Project. B. Hasard IMSwa~ee. So long as the Owners Association maintains a"master" or "blanket" policy on the Condominium Projoct which provides insurance coverage against fire, hazards included within the term "eatended coverage," aad such other hazards as l.tnder may requirc, and in such amounts and for such pcriods as Lender may requirc, then: (i) I.znder waives tbe provision in Uniform Covenant 2 for the monthly pa~~ment to Lendec of onatwelfth of the prcmium instaliments for hazard iasurance on the Property: - ~ (ii) Borrower's obligstion under Unifo~m Covena~t S to maintain hazard insurance eovoerag~e oa the Propeny is deemed satisfied: arrd - - (iii) tLe provisions ia UnTorm Covenant S ngarding appiication of hazard insurana pmceeds ahall be superse~cd by any provisions of the declaration. by-laws, code of rcgulations oc other constituent document~of the Condominium Pr~ject or of applicabk law to the eatent neceuary to avoid a conflict between such pr~visions and the provisions of Uniform Covenant S. For any period of time during which such hazard i~surance covenge is not maiataiaed, the immediately pt~aeding sentenoe shaU be ~temed to have no force or effect. Borrower shall gi~ro Lender prompt aotice of any lapse.ia sueh hazard insurancy~overage. ' In the event of a distribution of hazard insurance procoeds in lieu of ratoration or repair following a loss to the Property, ~ahether to the unit or to common ekments, any such prooeeds payable to Borrower are hereby assigned and shall be paid.to Lender for application to the sums secured by the security instrument, with the exoess, if any, ~ paid to,Borrower. ~ C. I,e~dec'~ P~ior Co~est. Borrower shall not, ~xcept after notice to Leader and with Lender s prior written consent. partition or subdivide the Property or oonaent to: (i) tbe abandonment or termination of the Condominium Prnject, except for abandonment or tetmination - provided by law in the case of substantial destrnctian by fire or other casuslty or in the case of a taking by condemnation or emiaent domain; - (ii) any material amendment w tbe declaration. by-laws or code of regulations of the Owners Associatioa, ~ or equivaknt coaatituent documeat of the Condaninium Projoct. iacluding, but not limited to, any amendment which would chang~e the percenta~e interests of the unit owners in the Condominium Project; or - (ui) the e~ectuation of any decision by the Owners Association to te~aninate profcssional maaagement and assume self•management of the Condonaniu~n Project. D. Re~aeaia. Tf Borrorrar M+escra Borrower's corenaats a~d sgreemeMs Lcrraader, iaclndlag tLe corensat to pay abe~ dee coudomi~ ss~essmeNs, tiea I.ender awr iwdce aa~r rsmedia provided under tbe sccuriqr L~strnmeaf, lsc~disj, bnt not iia~ited to, t6ose pe+orjded wider Ueffora Co~e~at 7. IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. . ~ i. MIA,RVF~1E LII~[QTED . • ,!TsT'~Tr!~~ '`~`AP~~~"'~ ~ ~ L : . ~ - ,r _ ' ~ , , a o~Ri _ ; ~:~,a,,,~°°~r~+` ~ t ~r~ C~~R~ ~ ~f1 ~ ; ~ , -~1'~1~`; - . ~ ..F,~~ 7~f~ : ~'~l~r V • . : 4 ~2 ~M` 3`?'0203 j~ d°`" : ~uw 23 ~ t~'~ - . ',r~~~fllH,ft...;::'. CONDOMINIUM RIDER-t to4 Fw~r-6?7s-Ftuu?/FNUK uN~FO~tM ~NSt~tu~ ~ 6pORK~~ p~ ~`3V ~