HomeMy WebLinkAbout0742 - . . I1JJV\.IMIIVIV ~r ~vCJI rAt~n~ ~s~?U-~ ~
West Polm Becch, Florido 33401
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~ 'I1Hts CoHOOWiKwa~t RicBa is made this: . . . . . . . . . . . . . . . . . . . . . . .day ot. . . . . . .M~TCa . . . . . . . . .
19 J8 and is inco~rporated into and shall be deemed to ame~d a~d supptement a Mortgsge. Dced ot Tnnt or Deed
' to Secure Debt (heKin "sccurity instcument") dated of evee date he~ewith. given by the undecsigaed (herein `
"Bo~rower") to secura Bomowe~'s Nota to. . F~.d~.l.itx .Federal.. SA~~$ .~4d.t~V~A A~~~S~~~~44.4~..... ;
~Iest .P.a1~.Seaeh. ...(herein `'L.ender") and covaring the Poo,~rty deseribed in tha secucity iastrament aad ;
located it lA~ .~QUtb .St~t~. R~d .~g~$~P. ~ea~hs .~~44~F~da 33457 . ~
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t?~ov.rer ~wa~.w =
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Zlu Propetty comprises a unit in, togethac with an undivided intenst in the oommon demarttt o~ s oondominium s
A TIS CON~OMINIIIM BUILDING.A_. ~ ~
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Project known as. . . aM ~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . i
(N,e+. a condonde~u~w hej«q ~
. . . . . . . . . . . . . . . . (hec~ein "Condominium Project").
CONDOMIMUM COVENANtS. In addition to the covenants and agr+eements mada in the secutity icutn~mrnt, ~
Borrower and I.ender futther covetiant and agnx as follows: ~ ;
A. _Assaswtnts. Borrower shall promptly pay, when dua. all assesunentt imposed by tho Ownee: Association `
or other govemiag body of tbe Condominium Project (herein "Owners Assocfatioa") pucsuant to the pra~visio~s o~ tba
declaration~ by-laws, c~ode of regulatioas or other conuituent docucnent of the Condomiaiwa Project. ~
B. Namcd I~ace. So long as tha Ownen Association raaiatains a"maste~' or "blanloet" po~icy on tbs
Condominium Project whicb provides ic~.wtauce coverage against fin, hazards iacludcd witl~in the term "exteadod
~ ooverage," aad such other hazards as L.eader may requic~e, and ia such amouab aad for s~xh peciods at Leodec rosy
require, theo:
Lendet waives the pmvision in Uniform Cove~ant 2 for tha monthly paymeat to Lender of oaatwet&h
of the peemium installments for hazard insucance on the Property; ~
C7 Borrower's obligation undar Uniform Covenaat S to maiataia 6azacd iasuraace oorecaga on tt~e
Property is deamed satis6ed; and s
. (iii) the provisions in Uniform Covenant 5 regarding application of hazard insuranoe proooeds shall be
supersedrd by any provi~ions of the declaration, by-laws, code of reguladons or other constitneat document ef the
Condominium Project or of applicable law to the extent necessary to avaid a conflict betwue such provisic~n.s aad
the provisions of Uniform Covena~t 5. For any period of time during which such hazard insurance ooverage is not
maintained, the immediately preceding sentenoe shall be deemed to have no foroe or effec~ Borrower shall give
I.eader prompt noticx of aay lapse in such hazard insurance coveragc.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to
.the PropeRy, whether to the unit or to common elements. any such proceeds payable to Botrower are hec+eby assigned
' and shall be paid to Lender for application to the sums s~cured by the security iastrument, with the excess, if any,
' paid to Bomower. _ - r
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G Lender's Prior Co,uen~ Borrower shal! not, except after notice to Lend~r and with Leade~'s prior writtea
consent, partition or subdivide the Property or oonsent to:
(7 the abandonment or termination of the Condominium Project, except for abandonment or termination
provided by law in tha case of substantiai destruction by fi re or other casualry or in the cax of a taking by eondemnation
I or eminent domain;
; (ii) any materiat amendment to the declaration, by-laws or code of regulations of the Owners Association, ;
~ or equivalent constituant document of the Condominium Project, includiag, but not limitad to, any amendment whiclt
would change the percentage interests of tha unit ownen in the Condomininm Project; os
(iii) the effectuation of any decision by the Ownen Associatioa to teRniaate professionat managemeat and
assume self-management of the Condominium Project.
s D. Remedies. If Borrower breachd Borrower's covenanb and agrsemenb hereunder, inciudiss. tl~e eore~at
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to pay whee due condominium assessments, thrn Lender rnay inroke any remtdia provided under the securitJ
instrument, including, but not limited to, tbose pmvided under Unifon» Corenant 7.
IN WJTNESS WHEREOF, Borrower has executed this Condominium Rider.
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~ C.~~~~ b~
ober . Rinker
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~ Gloria T. Rinker _~„a,,,,., ;
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~ djk/290-31053
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~ COyDOMIHIUM RID~R-1 to 4 Famiy-6J75-FYMA/fHlMC UMIFOAM IYSTRU11fNT 2§~$~
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~o~K 2~3 QA~E 741 ~
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