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Home My WebLink About0431 4 CONDOMINIUM RIDER S ~ Septe~mber 'I~+isCotvoo~~i~tu~t RiaER is madc this. . . . . . f . . . . . . . . . . .day of . . . . . . . . . . . . . . . . . . . . 19 7.7. and 'u incarporatcd into and shall bc dccmed to amcnd und supplement a Mortgage. Deed of Trutt or Deed to Secure Dcbt (hcrcin "security instrument"~~ *d~,a,,t,ed ot cvcn datc herewith B~_veo b-y thc undersigned (herein ••Bomowcc") to sccure Borrower's Note to. .~IATE,FNIERPRISFS, I~UR~.(~AGE, G~ORFORATIQN. . . . . . . . . . . .(herein "Lender" and covering the PropeMy dacribed in the ucurity instrument and locaeed ac. .0 . . .7 ` . .7.R~ . ::.9710 ,Jensen 8each,, Florida, , 33457 . . . . . . . . . . . . . . . . . . . (P~~y Addnss) The, Pc+o rt com i~ un't ' t e~ ~s~n n v~1d terest in the common elements o[, a condominium ' Pe Y PU~~A~A ? (]Q~OI?~t~~ Project known as. (Nsnw a conaominiwn P~ojscq . . . . . . . . . . . . . . . . (herein "Condominium Project"). CONDOMINlUM COVENANTS. ln addition to the covenants and agrecments mad~ in the security instrument~ Borrovrc~ and L.endcr further covenant and agrce as follows: A. Assessa~rnts. Borrower shall pcomptly pay. when due, atl assessments imposed by the OwnerS Association or other goveming body of the Condominium Project (hcrein "Owners Association") pursuant to the provisions of the • declaration, by-laws. code of regulations or other constituent document of the Condominium Project. B. Huard Iasuraace. So long as the Owners Association maintains a"master" or "biankct" policy on the Condominium~Project which provides insurance coverage against fire. hazards included within the term "extended rnverage;' and such other hazards as I.ender may require, and i~ such amounts and for such periods as Leader may require, then: (i) I.ender waives the provision in Uniform Covenant 2 ior the monthly pa~ment to L.ender of one-twelfth of the premium ins!ailments for hazard insurance on the Property; (ii) -Borrower's obligation u~der Uniform Covenant S to mainta.in hazard insurance coverage on the Property is deemed satisfied; and (iii) the provisions in Uniform Covenant S regarding application d hazard insurance proceeds shall be superseded by any provisioas of the declaration, by-laws, code of regulations or other rnnstituent document of thc Condominium Project or of applicable law to the extent necessary to avoid a rnnflict between such provisions and the provisions of Uniform Covenant 5. For any period of time during which such hazard ins~rance coverage is not maintained, thc immediately preceding sentence shall be deemed to have no force or et~ect. Bomower shail givc Leader prompt notice of arty lapse in such hazard insurance coverage. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair followin~,a loss ta the Property. whether to the unit or to common elements, any such proceeds payable to Borrower are hereby~dssigned and shall be paid to Lender for application to the sums secured by the security instrument, with the excess, if any, paid to Borrower. C. Lender's Prior Coosent. Borrower shall not, eacept after notice to I.ender and with Lender s prior written consent, partition or subdivide the Property or conseat to: (i) the abandonment or termination of the Condominium Project. except for aban~onment or termination provided 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 declaration, 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 percentage interests of the unit owners in the Condominium Prnject; or ` (iii) the effectuation of any decision by the Owners Association to terminate professianal management and assume self-management of the Condomiaium Project. D. Remedies. IE Borro~+u brracbes Borrow~er's co~enants w~d agreemeats bennnder, including the covenant to pay vr6ea due caadomininm assessments, theo Lender may invoke any remcdies providcd under the securit~r i~trumenf, including, but not limited to, those pmvided nnder Uuifor~n Co~enant 7. IN WITNE55 WHEREOF~ Borrower has executed this Condominium Rider. ~e ~KO ~coROE~ wc~E co~a+Tr f~~. ~ / / ~ ROCER POITR~S "LEn ~EyRf1E0 ~OURT L- ~ IAUIS H. HIXON -8~~ SLP 19 9 v6 AM'11 a~i~3 ~LYN B, HIXON -eorfO1MOf ~ ~ ~-Q~~ ~ ~ ~TY F~A ~~FR PQITRAS C~fqK C~RCUfT CQIIRt ~ i ~'t P~i~Ep v CONDOMINIUM RIDER-1 to 4 familr-6/75-FNMA/iHIMC UNIFOpN iNSTNUMENT Sf P 30 2 34. ~~~T 380369 _ ~~c,oird . _ : ~z75 ~ 431 21S ~ $ - ~ 9 ~