HomeMy WebLinkAbout0657 ~(a~1DOMINIUM RII~ER S ~`~s~`'~
Ttiis Co~oo~t~Nw~t R~~eR is made this. F~ '
3i~'~/~~- ~
...dayof j.......,
19.7.$ and is incorporatzd into and shaN bt dec:med to amend and supplcment a Niortgage. Dred of Trust or Deed
to Se~ure D~bt (herein "secnrity instrumrr~t" dated of even datc herewit~h~gn~•en b~y thc undersigned {herein
"Borrower") to secure Borrower's Note to. .~ATE.FNTERPRISES, I?~Kt~GE, (~uRPORATTON, , , , , , , , . , ,
located at. .CCrAi~'. .l,Q~ ~~z~,9~10 ~AlA~ JensengBeach~~Florisda~33457e securicy instrument and
(PropNty Addr~ss) '
Th~ PropeRy compP,
~es~ a uni't i to ~e~h~g~ w-iih un v-
!de i tcrest in the comman el~ments of. a condominium
project known as.(X:tA?~Ifl C~~~KUNl'.(L~\~~~Ui+i
(fVsme ol Condominium Aroj~tt)
• • . . • . . . . . . . . . . . (hcrein "Condominium Project").
C0~1DO~IINIUM COVENANTS. In addition to the covenants and ag~e~ments made in the security instrument,
Borro~~•er and Lender further covenant and agree as follows:
A. Assessments. Bormwer shall promptly pay. when due. all assessments imposcd by the Owners Association
or other governing body of the Condamioium Project (herein "Owners Association") pursuant to the provision5 of th~;
declaration, by-taws. code of regulations or other constituent document of the Condorr~inium Project.
B. Hazard Insurance. So iong as the Ownen Association maintains a"master" or "blanket" policy on the
Condominium Project which provides insurance coverage against fire, hazards included within the term "extended
co~~erage: ' and such other hazards as Lender may require. and in such amourits and for such peria3s as Lendrr may
require, then: ~
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one-twetfth
of the premium installments for hazard insurance on tlx Propeny;
v
\1~) L~/~lVwl.l,J VVi~~Y~lVi• YitV~.i viiiivii~• ~.v..,....•.. ~ .v ~n___~~ .~„v:~~~.~.~~ Af~ ~~P
Proper} is deemed satisfied; and
(iii) the provisio~s in Uniform Covenant S ~cgarding application of hatard insurance proceeds shall be
superseded by any provisions af the declaration, by-laws, code of re~ulations or other constituent document of thc
Condominium Project or of a~plicable law to the e~ctent necessary ta a.~oid a conflict between such provisions and
the provisions of Uniform Covenant 5. For any l~eriod of time during ~hich such haiard insurance coverage is not
maintained. the immediately preceding sentence shall be deemed to ha~~e no force or eEfect. Borrower shati givc
Lender prompt notice of any lapse in such hazard insurance coverage. ~
ln the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss t~
the Propert~•, whether to the unit or to common elements, any such proceeds pa~~able to Borrower are heceby assigned
and shali 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 Consent. Banower shall nat, excepi after notice to Lender and with Lender's prior written
consent. partition or subdivide the Property or consent to: '
(i) the abandonment or termination of the Condominium Projrct, except for abandonment or termination
providzd 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;
(ii) any material amendment to the declaration, by-laws or code of regulations of the Owners Association,
or equivatent constituent document of the Condominium Project, including. but not limited to, a~y amendment which
would change the percentage interests of the unit owners in the Condominium Project; or
(iii) the effectuation of any decision by the Owners Association to terminate professional management and
assume self-management of the Condominium Project.
D. Remedies. If Borrower bresches Borrower•s covenants and agreerr~e»ts hereunder, inciuding the covenant
to pa~ when due condominium assessrr~ents, then I.ender may invoke any remedies provided under the security
instrument, includiog, but no! limited to, thase provided under Uniform Covenant 7.
I~I WIT~TESS Wt1EREOF, Borrower has executed this Condominium Rider.
'
G~n.-~~-, _
~,~c~.. ~ _
STANI.~'Y C . PARICS -eor~•
~ G`i C~
ELFANORE A. PARIGS -sorror.~r
FIlEO ANO RECOROEO ~
' St• R06ER PO T4tAS`~
r~ cor. (:~GU1j COURT
CONDGMINIUM RIDER-1 to 4 Family-6l75-FNMA/FHLMC UNifORM ItISiRUMENT ~ ~
~ FER 10 2 59 PN'~~ .
~ R Q ;~~?4~'73
LOnK ~U~ PAfE 649