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Home My WebLink About0545 ~08-028/OP/JA C4NDOMINIUM RIDER THlS CONDOMINIUM RIDER is made this 4th day ot APRIL . 19 78. and is incorporated into and shall be deemed to amend and supplemeat a Mortgage. Deed of Trust or Deed to Secure Debt (herein "security i~slrument"1 dated ot even date herewith. givea by the u~deraigaed (herein "Bonower") to secure Borrower's Note to F1RST FEDERAL SAVINGS AND LOAN ASSOCIATION OF MIAMI lherein "Le~der") and covering the property described in the security instrument and located at 10410 AlA~ ~409, Hutchinson Island Club, . Jensen Beach, Florida. Thr Property comprises a unit in. together with an undivided interest in the common element,a of. a condominium project known as HUTCHINSON ISLAND CLUB Iherein"CondominiumProject"). CONDOMINItJM CO~'ENANTS. In addition to the covenants and agreements made in the security instrument. Borrower and Lender fureher covenant and agrce as follows: ~ A. Asseasmeote. Borrower shall promptly pay, when due, all assessments imposed by t6e Owners Association or other governing body of the Condominium Project (herein "Owners Association") pursuant to the provisions of the dectaration. by•laws. code of regulations or other constiwent document of lhe Condomiaium Project. B. Hazard lnsurance. So long as the Owners Association maintains a"master' or "blanket" policy on the Condominiuin 1'rojrct which provides insurance coverage against fire, hazards included within the term "extended coverage," and such other ha~ards as l.ender may require, and in such amounts and for such periods as Lender may rryuire, then: Ii) l.ender w•aives the provision in Uniform Co~•enant 2 tor the monthly payment to Lender oi one-twelfth of the premium installments [or hazard insurance on the Yroperty: lii) E3orrower's obligaliun ~~nder Lniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisf~ed; and • ' liii? thc prc?visions in Unif~rm Coeenant 5 regarding application of ha~ard in~urance proceeds shall be supersedrd by any provisions of the declaration, tiy-laws, code of regulations or other constitue:it documenl ot the Condominium Yroject or of applic- able law• to the extent neceseary to avoid a conflict between such pro~~isions and the provisions of Uniform Covenant 5. For any~ prri~xi of time durinR which su~h hazard insureace coverage is not maintained, the immedialely preceding sentence shall be dc~med. to have no force or eftect. Borrower shall give I.ender prompt notice of any lapse in such ha7ard insurance coverage. In the reent ot a distribution of hazard insurance proceeds in tieu of restoration or repair toltowing a loss to the Propert~•, ~•h~rther to the unit or to c~mmon elements, any such pra~eeds payable to Borrower are hereby assigned and shall be paid to Lender for :spplicalion to the sums secured by the security instrument, with the excess, it any, paid to I3~?rrow•er. ~ C. Leoder's Prior Conaient. F3orrower shall not, except a[ter notice to Lender and with Lender's prior writte~n consent, partition or subdivide the Property or consent to: • ~i) the abandonment or termination oi the Condominium Project, except tor ab:indonment ur termination provided by law• in the c:?se of substan~ial destruction by Cre or oiher casuslty or in lhe case of a taking by condemnation or eminent domain; t iil anv material amendment to the declaration, by laws or code of regulations of the Ow ners Association, or ~•quivalent cunstituent document of the Condom'snium Project, induding, but noi lim~ted lo, any amendment w•hich would change the per- centage interests of the unit owners in the Condominium Project: or 1iii1 the effectuation o[any decision by the Ovvners ~ssnciation to terminate professional manaKement and assume seli- managemeot of the Condominium Project. i I). Remedies. IE Borrowet breuhes Borrower's coveotnts and agreemmts hereunder, including the covenant to psy w~hen ~ due coedominium assessments, then Lender may involce any remedies pro~rided under the seeurity instrument, including, but not ~ limited to. those provided under L;niform Covenant 7. ~ • ~ IN WITNESS WHEREOF, f3orrower has executed this Co min um Rider. ~ . ~ ~Cst~ ~ . QiARD S . STAUFFE ~ - Korrower a Single Man, fILEO ANO RECOROED -Borrow•er at ROCER P41TRl~S ~A CIERI( C~RCUIt COU ~ -~,~r y: r"?.I~tED -Eiorrower ~ APR I~ IO 33 ~N'~B - F3orrow•er ~ 4~~ Y ' • - Borrower ~ ~ - Borrower ~ ~ ~ ~ } ~ i ~ ~oRK285 CONDOML'VtUM BIDER-1 to 9 Pamily-6,~75--FNNA/FHLNC UNIFORM INSTRUMENT IHev 1/T61 ~ _ - _ -