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~ CONDOIV~I~1-IUM RIDE~t
.
~ THISCONOOMINIUM RIDER 15111SdC Ih15 4TH day of APRIL .
19 7g , and is incorporatcd into and shail bc dccmcd to amcnd and supplemcnt a Mortgage, Dced of Trust or Dced
to Sccure Dcbt (hercin "sccurity instrumcnt") datecl of cvcn datc hercwith, given b~r thc undcrsigned (herein
"Botrower") to sccure Borrow~r's Note to
HOUSING INVESTMENT CORPORATION OF FLORIDA
- (hercin "Lender') and covering the Propcrty described in the security instrument and
located at
ROUTE 2, HIGHWAY AlA, JEN~ BF~C~. FLORIDA 33457
Thc Property comprises a unit in, logether with an undivided intc~est in thc cammoa elements of, a condominium
projcct known as
VILLA L1EL SOL, INC. , A CONDOiiIHIUM
(Name of Condom~nium Project)
(hcrein "Gondominium Projcct"). ~
CONDOMINIUM COVENANTS. If1 addition to thc covcnants and agrerments madc in the security instrument,
Borrowcr and Lendrr furthcr covcnant and agrcc az follows: ~
_ A. Asxssments. Borr~wcr shall promptly pay, Nhen due, all assessments imposed by the Owners Association
or othcr govcrning baly of th~: Condominium Project (hcrein "Owncrs Assc~ciation") pursuant to thc pmvisions of thc
cicclaration, by-laws, ccxlc of rcgulations or othcr constitucnt documcnt of thc Condominium Project.
B. Hazard Ie~surance. So long a~ the Owners Association maintains a"master" or "blanket" policy on the
Condominium Project which praviJes insurance cc?~•era~e against fire, hazards included within the term "extended
coverage," and such othe~ hazards as Lender may require, and in such amounts and for sucb periocis as Lender may
rcqaire, then: -
(i) Lcndcr waivcs the pmvision in Unifarm Covcnant 2 for the monthly payment to Lcnder of one-twelfth
of the prcmium installmcnts for hazard insurantt on thc Propcrty; .
(ii) Bc~rrowcr's obligation undcr Uniform Covcnant 5 to maintain hazard insurancc covcragc on 1he
Propcrty is dccmcd satisficd; and -
(iii) thc provisions in Uniform Covcnant S rcgarding applicati~~n ~~f hazard inwrancc prc~cccds.shall bc
supcrscdcd by an~~ prc~vision~ ~~f thc dcclaratiun, b~~-law~, rodc of rcgulations or othcr constitucnt dac~mcnt of the
Conduminium Prc~jcct :~r of appiicabic 1aw to thc rYtrnt ncccssar}~ to at~aid a conflict betwrcn such provisions anci
th~ provisions of Unitorm Covrnant S. For any pcri~x! of timc during which such hazard insurance covrragc i~ not
m~intaincd, thc immcdiatcly prccrJing scntcncc shall tx dccmcd to ha~•r no fi~rcc or eBcct_ Burniwcr shall givc
Lcndcr prompt noticc of any lapsr in such hazard.insurancc cuvcraec_
In thc cvcnt c~f a distribwi~~n of hazard insurancc prc~ccedc in licu ~?f restor~tion or rcpair following a loss to
~thc Propcn~, whcthrr tu thc unit ar t~~ comm~n clcmrnts, an~~ such procccds payablc to Borrower erc hcrcb~~ assigncd
anJ shall bc paid t~ Lcndcr for applicatiun tu thc tium~ ccrurcd by thc sccurity instrumcnt, v?•ith thc cxccss, if an?•.
paid to Bormwcr.
C. Lender's Prior_Consent. &~rrow•cr shafl n~~t, caccpt aftcr noticc tu Lendcr and with Lcndcr's prior writtcn
conscnt. partiti~~n or subdiv~dc thc Propcrty or consent tcr
(i) thc ~bandcmmcnt or tcrmination at ~hc C~~ndoniinium Projer~, cxccpt for abandonmcnt c~r tcrminatian
providcd by law in thc casc of sub.tantial d.struc~i~~n b~• firc or ~thcr casoalty ~r in thc catc af a taking b~• condcmnation
ur cmincnt dnmain:
(ii) am~ matcrial amrndmcnt to thc dcclaraticm, by-law~s or ccxlc af rcgulations of thc Owncrs Atsociation,
c~r cquivalcn! cc~nstiwrnt dcxumcnt of thc Condc?minium Prc~jcct, including. hut n~~t limited to, an~~ amrn~mrnt w~hich
w<~uld changc thc pcrccntagc intrrcst~ of thc unit ~~~~~rrs in thc C~~n~fominium Projcct: or
(iii) thc cflccwatiun ~?f any dccisi~m b~• thr n~ncrs Assc~ciatic~n tc~ tcrminatc profrssional managcmcnt and
a.sumc sclf-managcmcnt of thr Cundc~minium Prujrct.
D. Remediec. 17 Borruwer bresches Borrower'~ cove~ants and z~reements bereunder. including the corenant
to p~r when due condaminium a~sessmer+ts, Ihen I.rnder mav invoke any~ mmedies provided under Ihe securit~
ia~trumeot. includir~. but not limited to, those provided under Uniform Covenaat 7. ~
IN WITNESS WHERF.OF. Borrowcr has exrcutcd this ('ondominium Ridcr.
~~~s$~~~~~
ClEeR CIRCU1t 80u ~ ^
y.: qtr:gD j' ~ ~
L ' .
~PP ~3 ~2 24 ~M ~ t~ LAVID C. ii,ILLER, JR -e«~c•
t_ , ~ ~ ~~.1~,
3~~5 M, DOROTNY MILL `
CONDOMINIUM RIDER-1 ~o a c~,~lY-6 75-FNMA/FMIMC UNIiO~M 1lfSTRUMENI ~ R
~o.,o~,o.,~o so~285 ~P~ 3;3t
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