HomeMy WebLinkAbout0462 CONDO~ViINIUM RIDER
T~iis Co~soo.?ti:viuH RiatR is maJc this 1 DTH da~~ at MARCH ,
~ 19 78 , and is incorporatcd into and shall tx decmcd to amend and supplem~nt a Mortgage. Dced ot Trust or Dced
to Sccurc Dcbt (hcrrin "security instrumco~") datcd of ~vcn dat~ hcrc~vith, givcn by thc undcnigncd (hercin
"Borrowcr" j to sccurc Borrow~cr's Notc to
HOUSINu INVESTMENT~CORPORATION OF FLORIDA
(herein "Lender") and c~~v~-ring the Propeny describ~d in the secu~it}• in~trument and
locatcd at
ROUTE 2, HIGHWAY AlA, JENSEN FEACH. FLORIL~A 33457
(Property Addross) : .
Thc Pmperty comprisrs a unit in, to~ethcr with an undividec! intcrest in th~ r~~mmon elements of, a~ondominium ~
projcct known as ~ ;
YILLA I~EL SOL. INC A CONI~OMI~lIUFi
(Nsme of Condom~n~um Projett)
(hrrcin "Condominium Projcct"
CONDOMINIl7M CovFNANTS. I11 addition to thc c~vrnants and agrcrmcnts madc in thc sccurit~~ in~trument,
Borrowcr and Lend~~ furthcr cuvcnant and agrcc as fotlows:
A. AcsessmeMs. Borrowcr shall pmmpdy p~}, u~hen duc, all asxssmcnts imposcd b~~ thc Owncrs Asscxiation
or othrr gaverning txxly of thr Condominium Praject f hcrein "Owncrs Acaxiati~~n") pursuant to the pro~~isions of the
dcclaration, by-laws, coclc of rcgulatiuns or othcr c~?nstitucnt dc~cumcnt of thc Condominium Arojcct.
8. Hazard Insurance. Su long ac the Ow~ncrs A~~x;iation maintaim a"mastrr" or "blanket" policy on the
t'~>ndominium Projcct K•hich provi~frs insurancc cc~~-~ra~c agsinst firc. hazards includcd within thc tcrm "cxtendcd
rnvcragc: ' and such othcr hazards a~ Lcndcr ntay rcquirc, and in such amounts and for such pcricxls as 1_cndcr may
rcquirc, then: •
(i) Lcnclcr w~aivcs thc provisi~m in Uniform ('~?v~nant 2 for thc monthl~ pa~~mcnt to Lcndcr ~~f onc-twclfth
uf thc premium installmi'cnts for hazard insurancc on thc Pro~xrt}•;
- (ii) Rorrov?er's obligation under Uniforn~ Cu~~enant S ti~ maintain h~zard inwrance ccn•eragr on the
Propcrty is dccmcd c•rtisficd: and
fiiil thc prrn•isi~~ns in Unift~rm ('~»cnant ~ rc~arding applicati~~n ~~f hazard incuranc~ procccds chall be
suExrscded h~• an~ ~rc»~isions i~f thc dc~laratic.n, b~-law~, r~x1c ~~f rcgulati~~ns or othcr c~~nsti~ucnt d~~cumcnt ~?f thc
C~mduminium Pmjcct :~r ~~f applic~blc law t~~ thc r~trnt ncccssary tu a~~~~iJ a conflict tktH•ccn such pro~•isiuns anu
thc pruvi~i~~m of l?niform Cuvrnant S. For am~ 4xri~xl oi timc during W~hirh ,uch harard insuran~c rorrragc i. ni~t
mai~taincd, thc immcdi~tcly prccrding kntcncc ~h~ll tk d~cmcd t~~ ha~•r rn~ f~~rc~ <~r cfiect. K~?rr~~wcr shall givc
LrnJ~r prompt nutirc uf an~~ lapsc in wch hazard intiurancr r~~vcra~c. •
In thc rvcM ~~f a distrihuti~?n of hazard insuranc~- prcxrcds in licu of rr,tur:~ti~~n ur rrpair fultowing a lc~~s to
thr ProFxrt~, w:hcthrr tn thr unit ~~r t~? common clcm. nt.. anv such prc~crcdt pa~ablc tu Borruw~er arr h~rrM as~igncd
and shall hc p:+id a~ LrnJrr f<~r applicatiun t~~ !hc ~um. krurcd by thc ~rcurit~ instrumcnt, v?~ith the rxccs~, if an~•.
paid to Bormwcr.
C. ~.eader's Prior ConseM. B~~rruwcr ~hall n~~t_ ~~c~pt ~tter notice to Lrnder and with Lcndcr's priur written
conscnt, partiti~~n or subciividr thc Prop~:rty ~~r conu:nt t~~:
fi) the ahand~~nmcnt i~r tcrmin;~ti~~n ~~f thr ('~mJ~~minium Prnjrct, rxrc~t f~~r aband~nmcnt c+r trrminatic~n
pro~idcd by law in thc ca~c ~~f ~uh.tantial drstructi~~n h~ tirr ~~r ~~th~r cawattc ~~r in thc ra.~ of a taking b~ c~~r~~femnation
ur cmincnt dumain:
Iii) am matrrial amrnJmcnt to th~ Jcclaratiun, b~~-lati~ ~~r ax~r uf rc~~ulatii?ns ot thc Ow~ncrs :~tisc~ciati~m.
~~r cyui~alent c~nstiturnt d~xumcnt of the C<~nd~~m+nium Projcct, inrluding. hut n~~t limited t~~. am amen~lmrnt ~hich
vr~.utJ changc th~ Ex rccnta~c intcre~tc of thr u~~it u~+nrr. in thc Con.iaminium Prujcct: or
(iii) thc cficctuati~?n ~~t an~• dreisiun h~ thr nNncrs A~scxiati~,n t~~ trrminatc profrs:ionat m~natirmcnt an~1
a.sumc sclf-n~an.i~cmcnt nf thc C~~~ndt~minium Pmjrct.
D. Remediec. li fi~rroN~er breaches Rorrower'z co.enantt and a~reementc 6ereunder. inctudinR the covenant
to pa} ~hen due condominium a~sessments, then Lender ma~ invoke am remedies provided ondcr the securih
in~trument, includinR. but not limifcd lo. lho~e provided under UniEorm Co.~enant 7.
lv ~Virtit:tis Wi~FRto~ . B~~rrc~W~rr has exrcutrJ thi. ~'c~nduminium Ridcr.
i ~
3~8QS0 '
. ' J ~I.1~T'~ (/N ~`t.~iW ~V e~ W~" Yf W 1r~/~? / ~
O.JOAN KATHLEEN CHARBONEAU ~--Bo~rowe~
i1LE0 AMO RECORD~~ _ / J "
5t ~UCCE GOUNtY f~p ~ c},.
P~„r. ?OtSR?S ~
;~--.,U?t C~' WILLIAM ROBER CHARB NEAU -eo..cu~e?
, ,
Mr.F 2~ 3 43 PN'~~~ L E
CONDOMINIUM RIDER-~ to 4 Famd~-6 75-FNMAlFHIMC UNIFONM I RUMENi
tOrlO~~D~~[O ~VS~M[s! ?pwuf. ~+C- ~
~
~ - . . ~ ~e~~ z,,.
~ rr t,'~i .c.,'~'"'~,"' .=~~s.`.
. ~k+ -~,-~'.~,r~,. ~ _ . _ ; ~ . . r