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CONDOMINIUM RIDER
/S ~ September
'I~+is CoNOOrsi:~tut~ RioER is made this, . . . . . . . . . J
. . . . . . . . . . . . . . .day of. . . . . . . . . . . . . . . . . . . . . . . . .
19 7,7. and is locorporatcd ioto and shall bc dccmed to amend and supplement a Mortgage. Deed of 'Trust or Deed
to Secu~e Debt (hcrcin "security instrument"~~ *d~,a,,t,ed of cvcn datc hercwith g~_ven b~y ~t~h~e unde~signed (herein
,•Bo«owcr") to ucure Horrower's Note to..~+~:?I.ATE,EM.ERPRISES,M~R'~.GAGE,LZ?!iH?RATIa!I...........
.(hereln "Lender" and ca~ccing the Property described in the security instrument and <
locaeed at. .0 . .
.G1F.A~. .7.4~ . .9710, ,Jensen Beach,, Florida, , 33457 . . . . . . . . . . . . . ~ . . . . . Y
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~ (itopwtY Addnss) f
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'Tt?~ Pro tt comii~ unit~~'p~ ~t~ e v~~d tcrest in the common elemcnts of; a eondominium #
project Icnown as pU~.~A~A t~l(:~AtVr~ ~~UN~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . '
tNam. a conaoinieiwn Prolecq `
. . . . . . . . . . . . . . (he~ein "Condominium Project"), z
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CONDOMINIUM COVENANTS. In addition to the covenants and agrecments mad~ in the security instrument, ~
Borrower and i.encicr funher covcnant and agroe as foUows: - ~
A. Assessments. Borrower shal! promptly pay. when due~ all asxssments imposed by the Owners Association
or othcr governing body of tt~e Condominium Project (herein "Owners Association") pursuant to the provisions of the ~
~ declaration. by-laws. code of ngulations or other constituent document of the Condominium Project. ~ ~
B. Hssard Insnraace. So long as the Owners Association maintains a"master" or "blanket" poticy on the q
Condominium Project which provides insurance covcrage against 6re. hazards included within the term "extendcd i
covera~e," aad such other hazards as Lender may nquire, and in such amounts and for such periods as Lender may ~
E
rcquire, then:
(i) Lender waives the provision in Unifarm Covenant 2 for the monthly pa~ment to I.ender of one-twelfth ~
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of the premium ins!allments for hazard insurance on the Property;
(ii) Borrower'a obligation under Uniform Covenant S to maintain hazard insurance coverage on the :
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Property is deemed satisfied; and ~
(iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shail be
superseded by an} provisioas of the declaration. by-laws, ~wde ot regulations ar other constituent document of thc ~
Condominium Project or of applioeble law to the extent necessary to avoid a conflict between such provisions and ~
the provisions of Uniform Covenant 5. For any periotf of time during which such hazard insurance coverage is not ~
maintained, the immediately preceding sentence shall be deemed to have no force or effect. Borrower shall give
I.ender prompt notice of any lapse in such hazard insurance coveragc. ~
In the event of a distribution of hazard insurance procceds in lieu of restoration or repair following a loss to i
the Property, whether to the unit or to common elements, any such proceeds payable to Bonower are hereby assigned ~
and shall be paid to L.ender for application to the sums secured~ by the security instrument, with the eacess, if any, ~
paid to Bomower. ~
C. Lender's Prior Consent. Bomower shall not, except after notice to L.ender and with Lender's prior written ~
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consent, partition or subdivide the Property or consent to: _
(i) the abandonment or termination of the Condominium Project. except for abandonment or terroination ~
pruvided by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation _
or eminent domain;
~i (ii) any material amendment to the doclaration, by-laws or code of regulations of the Owners Association,
` or equivalent constituent document of the Condominium Project, including, but not limited to. any amendment which
~ would change the perctntage interests of the unit owners in the Condominium Project; or ~
' (iu) the effectuation of any decision by the Owners Association to terminate professionai management and ~
assume self-management of the Condominium Project. ;
D. Remedies. It Bormwer breacbes Borrower's co~erwnts aad agreements 6ereunder, inclndiag the covenant
to p~y ~?6e~ due coudominiam assa~ents, then "Leader may in~oke any remedia provided under the security =
~ i~troraeat, induding, but not limited to, tho6e provided ande~ Ueiform Covenant 7. ~
IN WITNESS ~VHEREOF, Borrowcr has executed this Condominium Rider. -
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`~0 ANp RLCORO~D
S~. LUCIE GWINTr F A. ~ ~
ROCER P41TR~S / /
"~ERK CIRCUIT COURT G
~ YEy~FIEO IAUIS H. HIXON
S~P 19 9 v6 AM'11 '
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~I.y~ B. ~~(p~ -eo~rower '
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CONDOMINIUM RIQFR-1 to 4 Fxaiip-6115-FNiIA/FHIMC UNIf01111 INSTItUMEUT ~
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