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HomeMy WebLinkAbout0104 i . ~ GO~V D(1~sI~! IL'iVi RIDER i - - f ~iIS COI~OOMI.~1lM RID~R Ys mSr3t [~S 28TN ~ OCYOP~R ~ 19 T7, and is i~~ocac~ uki ~ tY c;ct~x~i io amrsd and supp~cment : Mortsage. Dc~d d Trust or Deed ~ to Secure D~b~ (her.•in '~uity enstsum~at )=ia:~1 d r»n duc ~re~ith. gi~~eo by tbe undtrsigned (herein ~ "Bornowcr" ) w xcure Bo~:v~r s~.'cr :0 4 HOU~IkG INVEvTMENT GQ~tPORATIa~! OF FLORIDA ; (~r~ein 'L,za~t') and ~•;ria~e ibe ~rrtc d~scn~~d in the s~.~curity ins:rument ar?d ~ tacate~i at ROUTE HIGkYAIt AlA. .lE~~ ~H. FLQRII~A 33457 ` i 'ri+x p~opert~r comprix~s a eu~it i~. t~~r o~ an ;~s3i~33~d ir~rrest in ih: rommon eiemenu of, a condominium ; P~l~t known as ~ VILLA DEL S~L, INC.~ A COHL?OMINIUM ~aore s+e G~s.,o~r+-.r.ui.~ Pro,sctl l ~Il'II! '~~it! PiL~1'2 ~ _ Co~v~a~u~-~uat Co~~E.a:L~~~ ta ~a~~a et, tbz .~,~:aan~~ and agr+e~menu ~mad: in the ~curity insuument, Borro~nr a~sd I.endcr furtIxs.ti.n~-~a.as s~ ~,n+z ic f.'~k~?s: ~ A, g~,cr,a,xrr ~ pr„m~ch }v~. wka dur, all assessinents imposed ~y tbe Owners Association o~ oth~r go~ern~ng bcxft cf ch~e C.x~.ac~mi~~ Pn~-t ~h~rrin -'e~~nrrs 4scociation") pursuaat to the pro~~sions of the j ~eclaration. 5Y-tavcs. coa~ e~t r~ul.~.-a?~s ~~s c~chcr ~.r~t~st .io~-umeni c~ the Condcxn~mwn Pm~at. ~ e, }~mri Iasara~cc. So k,ng as :~,r O~~ Ac~-iat~ca~ mai.nta~ns a"muter" or "b;anket" golicy fln tbe = Coadominium Project w h~h gcu+x~s e~~ur:a.~c ;t~+rra_~r acunst nne. isar~nic incl ~ed W~ithin thr term "e~?.ended ~ cover.sge." and suc:h al~rr h~re~s ~s [~cz.irr c~. n~+,~uir~. ~d ia wch amcwnts and for such peiiods as L~nder may s require. then: . (i> L..en~r a~ives t2rz Qra~.is~~cs in Ls~#.~rm CEZ»s~t 2 fcr tbr mor.zt?l~• pa~ment tn Lender of one-tw~elfth of the pwmium ~nv,t:*..~-aES f~ ~aras-~ ~~ciraa~r.~a t5r Pr~~pcm: 1 ii) &xruvrer s vbii~tui~xi uxizr i: n~f~~c~m C~~.r~nt ; to ~s;aintai~ nazard insu: ance rover~ge on the Propert~ is ~med c:wcis~e.~:_a~ Iiii) the prv~~soc~s ia l:n~ft~sn Co.~iunt ~ rx~,ar~ a~Ii~aticx~ c+f hazard insurance proceeds shali be superseded b~ an~ pcu~isi.~as ~~f eh~ ~3:r~:i~~ M~~w~ oc~ c~f rr~ulations or other constituent doeument of tre -Conduminium Pn~~ti-t .x i# ap~+:ic.sbk E~~ te. :.~e c~~r~ .o a~~~;d a conAict betw~een such provis~ons an~ tt~ pror~isierts ~~f l;niform Co>~r.,~t 5_ F.x anc ~ri~~ ~•f auring w~hich snch hazard insuranc~ eo~~erage is nut m:untained. ~he imm~~iisc.~;~ ~~-~r~ ~-e:~.~ ~hdi? K~:n-'ti t~ ha~~ no force or Pi~ert. Borrow~er shall gi~~e ~ l.en.ier prumpf nc~tice of an~ i,~-~ ;n x~h h.~`r.;: :~:ur~.Y .-v.~zr~~_ < In the :~eat of- a di~tnb~~e.~ .~+f carz:~ ;~ra.'?.Y f r.»~_c in lieu oi u~ctoration or repair fotlow ing a l~ss ta ' ( the Propertc. wik~ttser to th~ us~t ~~c :~~cs~.~~es :~m.°a~c. an-. c~h pr.~.xrdc p~~abl> to Bc?rrow-er are hereby assigne~ ' ~ ~ anci sh~i1 ix p:uct to l~.~r f~x s~~d,ic3~~a ~:~m~ s~:u~ b~ :h= ~e+curit}~ insirument. w•ith the excess. if an}. { paid to Bacn~vrer. ~ C. I.c~ders hiar Coass~t. B.~z~a~r s:~ a~t. =uY~ ~iter n.~ioe .o Len3er and w•it,~ Lcnder's prio* w~ritten , conser,t. partic:un x subaii~i.ie ~i~t Pr~rrt~ ~~c.~.~ct~:3: (i) the a~rid.,nrrxn; ~x ;r:m~xs.x.a Cr+:~.b~ir~iu~-n Pr~~rt. czre~+; for abandonment or termination ~ pto~~idet~ by lavv in ttm c~ u€ s~:ia~ ~~r•,s:~~: ~rr .~r ::h: r:.awalt~~ ~r in tbe c~~c of a tai:ing b~~ cor.demnation or eminent dv~naln: 1i~) ;am maczr~ ~n,.:,-nzz~ :bz ~>::~ra=.~.~_ r~-la~?•s ~~r cc~i~ c~f regulations of the Ov?~ners Association, y or eque~aleat cuaui:u~nt ~~:r~:._-*x~t ~~f ~fx C.~r~,.~cir.i~:~ Pr.~i.'~•'t_ i:.c:u.:;nc. ~ut ncx limited to. am~ amendment w•hich VUl?Z1I13 Ch:?IIQ'~ i~ ~tiYIIC.:`~ tII:zre~ .~f :;x •.y.Ii f)ZiS i~ :ix C.3*x3~~minium Pmject: or f iii) ttx :f~rcti.ati.x~ L~f .a.~. b. ~'x 0~?~?xrc ~-~,~iati~~n to terminate prafessional management and assu~ ~If-m3r.a~.~euxat ~ C.,~~~~ Pr~z~._ 1 D. Re~ If Sotsv~er ~c~es Bom~rrt c~o~~ a~d a~e~ts tierrasder. iaclodi~ tl~e rnveoant to pa~ wLes d~e co~do~ ~es~.t tka [.e~3er sa~ ios-oEe ~ rr~e~es pro~-ided nnder t6e secarih ~ ~traoeN. i~¢f~s~. b~t ~et i'eiied ta tfoa~e pro•~de~ oder 1:~0~ Co~-eaaet 7. - ~ j~: WIT`:ESS W~ EiETiEOF_ BG~i1'-~':r ?~s;~ t~,.~:~: :sis C.,a.i.~mi.tium Ribzr_ ~ ~ ~ ~ ,~~~A~ V ;~~~~~~~'01~~ ~ v -BorroMrer ~~~~'i r s~= ~,c~ ~ EVALYN Il.LYAH t~~ 9 3 r2 PM'~ . c~t~otu~wr ~ < «,t~_~ ~ ~R CQ~~O•.t7a*[7 i::3~~SfS •7r'f. K. ~~7? ~ 10~