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Home My WebLink About0062 ` FrIR3T FEDERAL SAVINGS AND LOAN ASSOCIATION ~ ~ ~ OF FORT PIERCE ~ ~ ~ - C4NDOMINIUM RIDER . THIS ONDOM(N1UM RIDER is mad¢ this . . . . . . . . . . . . . . . . . . day of . April, , , . , . , , . . ~ 19 . and is incorporated into and shall be deemed to amend and supplement a Matgage, Deed of Trust ~ or De¢d to Secure Debt (heretn "securlty instniment'~ dated ot even date herewith, given by the undersigned (heretn "Borrower") to s¢cure Boaower's Note to FlRST fEDERAL SAVINGS AND LOAN ASSOCIATION OF ~ FORT PIERCE (herein "Lender"1 and covering the Propeity d~~ in thQ securi ns and tocated at ..,~440, $Quth,Ocean Drive, _Apt. .2214 Catamara~ I, Fort -Fierce,ryFl~a.~~+~0 taroo«er ~wen.a . The Pro~rty comprises a unk in, together with an undivided interest in the oommon elements of, a condominium project known as . . . . . . . . . . , Ocean. Villa$e. Cflndominium Manr d Coedonw~iwi Pioheq . . . . . . . . . . (herein "Condomtnium Project"1. _ CONDOMiNNM COVEIVAIVTS. In addition to the covenants and agreements made in the security instrument, Borrower and Lender further covenant and agree as tolbws: - A. Assessments. ~ Borrower shall promptly pay, when due, all assessments imposed by the Owners Association or other goveming body ot the Condominium Pro)ect (herein "Owners Association") pursuant to the provisions of the declaratlon, by-laws, cod¢ of regulations or other constituent document of the Condominium Proiect. B. Ha:ard inwrance. So long as th¢ Owners Assoclatbn maintains a"master" or "blank¢t" policy on the Condomintum Project whkh provk~es iraurance coverage against fir¢. hazards induded within the term "¢xtended coverage," and such other hazards as Lender may require, and in such amounts and for such periods as Lendet may require, then: ~ (i) L¢nder waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one- twelhh of the premium instapments for hazard insurance on the Ptroperty; (ii) Borrowar's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied; and ~ (IU) the provisions in Uniform Covenant ~ 5 regarding application of hazard insurance proceeds shail be superseded .by any provisions of the~ declaration, by-laws, code of regulations or other constituent document of the Condominium Proiect or of appticab{e law to the extent necessary to avoid a conflkt befween such provisions and the provisions of Uniform Covenant 5. For any period of time during which such hazard insurance mverage~ is ~ not maintained, the imm¢diately preceding sentence shaq be ' deemed to have no ferce .or effect. Borrower shall give Lender prompt notice ot any lapse in such hazard insurance coverage. in the event of a distribution of hazard insurance proce¢ds in lieu ot restoratlon or repair folbwing a loss to the Properiy, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby 'i assigned and shall be paid to Lender for application to the sums secured by the security instrument, •with the ; excess, if any, pak! to Borrower. ' _ . _ ~ ~ C. Lendets Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written ~consent, partition or subdivide the Property or cons¢nt to: ~ ~ (i) the abandonment or termination of the Condominium Project ¢xcept for abandonment or i termination provided by law in the case of substantial destruction by fire or other casuahy or in the case of a ; taking by condemnation or emjnent domain: - (il) any material am¢ndment to the declaration, by-laws or code of regulatians of the Owners Association, or equivalent constltuent document of the Condominium Projed, including, but not limited to; any amendment which would change the percentage interests of the unit owners in the Condominium Pto~ect; or . (W) the ¢ffectuatlon of any decision by the Ownen Association to terminate professional management and assume s¢If•management of the Condominium Project. w D. Remedies. If Borrower breaches Bonowe~'s covenants and agreements hereunder. including the ~ covenant to pay when . due condominium assessments. then l.ender may invoke a~ry remedies provided under the ~ecurity instrument, tnctuding. but not limited to, those provided under Uniform Covenant 7. ; . C • IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. - ` ' ~ ~ H rry . n8 -eo.~,.~. ~ y~ . ~ ' ~ • Fleming _ea~w. , i ~ CONDOMINIUM RIDER-1 to 4 f~r-6/TS-FNMAlFHLAAC UNIFORM INSTRUMENT STI~~ E COUMIY fiA. ' t ROCER POITRAS - . C'.~RI( CtR~~IT COURT ~ 7FF.;fiE~J~~~~:~::~ . ~ MQr 16 8 4s AN'T8 ~ z~ g~~~ ~ ~ 40.3S~g~ . - - ~ : _ ~ u.: ~ _ ~ - - z~ ~ ~ :x~