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~ ~ CONDOMINIUM RIDER
~IlilS CONDOMINIUM RIOER IS I118dC tI115 . . . . . . . . . . . . . . . . . . . day of . .
19~~. and 'a incorporated into and shull be decmed to amend and suppicment a Mortgage. D~~ed of Tcust or Dccd
to Secure Debt (her~ein "securi~y instcument"~j~d,,a,~t,ed ot cveo datc herewit~hl ~'~en by ~t~h~c~u~ndenigncd (herein
•,Borrowcr") to s~cure Borrower's Nae to..~!~?4ATE,~NTERPRISFS,1?DKTGAGE,O~lu'UttAT~QV...........
- .(herein "Lende~~'~ ~aod covering -tt~c Property dcsc~bed in the security instcume~t and
locaced ac. .OGF~~T. l~D~ : e .9710 AlA, ,Jensen Beach,, Florid.;~, , 33~57 . . . . . . . . . . . . . . . . . . .
. e~ov•e~r naar.ss!
'fhe Pro rt com '~~s'p~ un't ' n~~ y1 tc~est in the common elemcnts of, a rnndominium ~
pmjcct k wn as P~(~~lINA . . . . . . . . . . . . ~~INIt~~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Ns~n. a coiaoe+in~un+ Pro;ecU
. . . . . . . . . . . . . . . . (hcc+ein "Condominium P~+oject").
CONOOMINIUM CO~ ENAN?S. In addition to the covcnants and agcecments mada in tha sccu~ty instrument, ~
Borrow~ec and Lender funher covenant and a~ree as follows:
A. Ass~eats. Borrowe~ shall promptly pay. when due, ail assessments imposed by the Owners Associatio~
or other governing body of the Condomi~ium Projoct (herein "Ownecs Association") pursuant to the pmvisioas of the
~ declaration. by-laws, code of regutations or other constituent document of the Condominium Project. ~
B. Nuard Insaraace. So long as the Ovmers Associatiun maintains a~"mastei' or "blanket" policy on the
Coadomi~ium Prnject which provides insurance rnvecage against fire, hazards included within the term "extended
coverage:' and such other hazards as I.ender_may reguir+e. and in such amounts and for such periods as Lender may
require, then: ~ ~
(i) 3~der waives the provision in Uniform '~ove~ant 2 for the monthly pa} ment to i.ender of one-twelfth ~
of the prcmi~un installments for hazard insurance on the Property; . ~
~ (ii) Bomower's obligation under Uniform Covenant S to maintain hazard insurnnce coverage on the .
Property is deemed satis6ecf; and '
(iii) the provisions in Ua~ocm Covenant S regarding application of hazard inrurance proceeds shall be ~
superseded by any provisioas of the declaration. by-laws. code of regulations or o?her constituent document of the ~
Condominium Pr~oject or of applicable law to the exteat necessary to avoid a conflict between such provisions and ~
the provisions of Uniform Cover.ant S. For any pzriod of time during which such hazard insucance coverage is not ~ '
maintaiaed, the immediately preceding sentence shall be deemed to hava no force or etfect. Borrower shall gi~ k
L.ender prompt notice of any lapse in such hazard insurance rnverage. - ;
In the eve!~t of a~istribution of hazard insurance proceeds in lieu of restoration or repair following a loss to <
- _
the Property, a~lhether to the unit ur to rnmmon elements, any such proceeds paYable to Borrower are hereby assigncd ?
and shall be paid to Lender for application to the sums secured by the security instrument. with the excess; if any, `
paid to Bornower. ~
C. Lender's Prior Consent. Borrower shall not. except after notice to I.ender and with LenJer
s prior written
consent, partitioa or subdivide the Property or oonsent to:
(i) the abandonment or termination of the Condominivm Projeci, except for ahandonment or termination
provided by taw ir. thc case of substandai destruction by fire or other casualty or in the case of a taking by condemnation
' or eminent domain; _
(ii) any material amendment to the declaration~ by-laws or code of regulations of tix Ovrners Association, ~
' or equivaleat constituent document of the Condominium Project, including, but not limited to, any amendmeni which
would change the percentage interests of the unit owners in the Condominium Project; or
(iu) the eHectuation of any decision by the Owners Association to terminate~professional management and
~ auume self-management of the Condominium Project. -
' D. Remedie~. If Borrower bresc6es Borro~rer's co~euants aed agreemeMs benunder, includiag the rnvetwat
to pay v~hee dae condomiaiom assessmeats, fben Lender msy jn~oke anr remedies provided under the secnrity
inctrumest, iaclading, bet not Waited to, tho~se provided under UniEorm Corenant 7.
IN WITNESS WHEREOF, Borrowcr has executed this Condominium Rider.
~ -
~,S , -Bo?rower
f1~E0 ANO RECOR~ED ~
- iT. ~NCtE COIJNTY f LA. ~
ROCER POITRAS- `
CLERK CtACU1T COURT j
==~'-r'• ?E:.If~EO 11~ARGA _
Noy 16 3 a~ PM'11 ~ ~
384'?'98 -
J
COMOOMINIUM RIOER-1 to 4 F~mihr-6175-F~uu/FNtwc UNIFO~tM INSrnU~~ ~
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