HomeMy WebLinkAbout0749 , . . ~ ~ ~vv ~u ~~~1~v MJJV~./MIIV/Y Vf' 1rV L:.~1 ~'f~~ 11C~W
West Patm 8aach, Florida 33d01
~ . ~ ~ONDOIi~iN~UI~ I~IDE~,Z
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'htts Co~voor~i~~uat Rt~aa is made this: . . . ~ . . . . . . . . . . .day of. . . . . . . . . . . . . .
19. .78, and 'u iacorporated into and shall be deemed to amend and supptenient a Mortgaga, Dced oE Trust or Deed
" to Seeure Debt (herein "sxurity instrument") dated of even d~te hecev?ith, givea by tha undecsi ed (hec~ein
"Bo~rowec") to secura Bocrow~e~'s Nota to. Fid~litY. Fe;~eral,SaYirx~s. .and I~oan Associa..~..ton .
••of •~St. P~l ~3 .(hcrein ``Lender") aad coveRng the P~qpcrty de
~'bed in the secucity icattument and
located at. . . .~.Q~Q? . ~4. $t: . Iad AlA . . JerLSen. Beat~z, Floriea. . 33457 . . . . . . . . . . . . . . . . . . . . . . . . . .
c~evaer ~ae~..s~
The Ptvpat~r comprises a unit in, togethec with an undivided interest in the common eIecaentt oi, a condominium
project known as. . . . A~~$.44~`~P~I~'! . . . . . . . . . . . . . . . . . . . . . . . . . . . - - - • . . . . . . . . . . . .
eNsrn.af candoeMetun..n,J.W
. . . . . . . . . . . . . . : . (herein "Condominitua Proj~ct").
CONDOMINIUM COVENANTS. ln additio~ to the covenaais and agreements made in the security instrutneat,
Borrower and I.ender furtbec covenant and agree as follows:
A. Ass~ss~n~nb. Borrower shall promptly pay, when due, all assessmeats imposod by tbe Ow~s Associatioa
or other governing body of the Condominium Project (herein "Owners Association") pucsuant to the pcovisions af tha
declaration, by-laws, code of rcgulations or other constituent document of the CoQdomiaium Ptojec~ ~
B. Ha~d Inaurancf. So tong as the Ownen Association maiataias a"enastec" or "blanket" poUcy on ti~
Coadorainiucq Project which pravides iasu~ coverage against fue. hazards included wit,'un the term "extendcd
- coverage," ~d seach other hazazds as Leader may requin, aad ia such amounts aad fot such periods as Lzadet may
require, then:
I.~nder waives the pravision io Uniform Covenant 2 for the moathly payment to Lendec of oaatwelfth
of the premium instaUmaats for hasard insurana on the Property; ~
('u) Bonower's obligatioa under Uaiform ~ Covenaat S to maiataia hazac+d insuca~ca ooverage on the
Propecty is doemed satisfied; and i
. Cii) the provisions ia Uniform Covenant S regarding application of liazacd insuranoe proceeds shall be
suparseded by any provisions of the deciaration, by-laws. code of ngulations or other constituent d~ocument of th~
Condominium Projcct or of applicabie law to the extent necessar~ to avoid a conRict bztween such pcovisions and
the provisions of Uaiform Covenaat 5. For any period of time during ~vtuch sucb hatard insuranca coveraga is noi
maintained, the immediatety preceding sentenve shalt be deemed to have no foroe Qr effec~ Bomower shall givc
Leader prompt natice of any lapse ia such hazard insurance coverage.
In the event of a distribution of haxard insurance procoeds in lieu of rataration or npair following a loss to
.the Property, whether to the unit or to common elements, any such proceeds payable to Borrower ace hec+eby assigned
' aad shall be paid to I.snder for application to the sums sxurod by the security instrument, with the eaccess, if any,
paid to Borrower. - ~
~ C. Lendsr's Prior Coraen4 Borrower shall not, cxcept aEter notice to Lender and with L,ender's prior written
consent, partition or subdivide the Property or conaent to:
t7 the abandonment or termination of the Condominium Project, exccpt for a6andanment or teimination
provided by law in tha cas~e of substantial destruction by fi re or othar casuaity or in the case of a tatcing by condemnatioce
or cminent domain;
('ti) any materiaI amtndment to the dectantion, by-laws or code of regulatioas of ~tha Ownets Associatiore,
or equivaIent c~onstituznt document of the Condomiccium Project, inctuding, bnt not timited io, any aniendcnent which
would change tlu perce:nt~ge interests of ths aeit ownen in the Co.^.dominiura Project; o~
rii) the effectuation of any dccition by the Owners Association W terminate professionat managemeat and
assume self-manageaaent of the Condominium Pmject.
D. Remedies. lf Borrower hres~chq Borra~rer's co~cnsnb and agreemenb hereunder, including the corsnanl
fo pay wheA due condominium auessmenb, ti~en Lender may inroke aap nmedies prorided nnder the securitp
iastrument, including, but not limited to, those pmvided under Urdform Co'enant 7. -
IN WITNESS WHEREOF~ Borrower has executed this Condomininm Rider.
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COt~DOMI?IIUM RfDfR--i to4Fa~,~ir_6~~s--fyMA/FlilhlC UlIli0abl I.YS1RU11ENT 2550--~ASaASirt~
BORK ~03 FAG~ -