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FIOEtITIf fEDERAI SAVINGS AND tOAN ASSOQATION OF WEST P~ilM BFACH ;
~ 218 Datura Sheet West Pckn Beach, Florida 33401 ~ -
CONDOMINIUM RIDER
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~ISCONDOMINIUM RIDER IS IriBdC tI1lS. . . . . . . . . ~ . . . . . . . . . . . .day of. . . . 1`'~Y . . . . . . . . . . . . .
19 and is incorporated into and shall be deemed to amcnd and supplemcnt a Mongage, I)eed of Trust or Deed
to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned (herein
"Borrower') to secure Borrowc;r's Note to. .Fi.deXit,y. .Federal ~avings. au~d .Loan. Assoaiatian. a~
West , Palm ~e$~~i, ,,,,~~~in "I.ender") and oovering the Propetty described in ihe security instrument and
locaced ac.. ..~0~~~ .$Q..SC,. Rd, .AIA.. J~n~eu.8each,. .Flozida . 33457 . . . ~
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The Property comprises a unit in, together with an undi~ided interest in the common elements of, a condominium ~
projcct known as . . . A~~~$ . GONDOM~IItR~, . SU~LI~~NG . A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~
. . . . . . . . . . . . . . . . (herein "Condominium Project"~, (Nsme of, Condominium Projact) ~
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CONDOMlNIUM COVENANTS. In addition to the covenants and agreements made in the security instrument, ~ '
Borrower and L.endcr further covenant and agree as follows:
A. Assessments. Borrower shall promptly pay, when due, all assessments impoaed by the Owners Association £
or other governing body of the Condominium Project (herei~ "Owners Association") pursuant to the provisions of the x
~eclaration, by=laws, code of regulations or other constituent document of the Condominium Project. ~
B. H~rd Insurs~ece. So long as the Owners Association maintains a"master" or "blankei" policy on the
Condominium~ Project which provides insurance coverage against fire, hazards included within the term "extended
c~average." and such oth~: haz$rds ss Lender ma} reqe~ire, and in s~.?ch asnounts ~nd for such periods as L.ender may
require, then:
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to I.ender of one-twelfth ~
of the premium installments for hazard insurance on the Property;
(ii) Borcower s obligation under Uniform Covenant S to maintain hazard insurance coverage on the
Property is deemed satisfied; and -
~(iii) the provisions in Uniform Covenant S regarding application of hazard insurance proceeds shall be
superseded by any provisions of the declaration, by-iaws, code af regulations or other constituent document of the _
Condominium Project or of applicab~e faw to the extent necessary to avoid a conflict between such provisions and
the provisions of Uniform Covenant S. For any period of time during which such hazard insurance coverage is not ;
maintained, the immediately preceding sente~ce shaA be deemed to have no force or efiect. Borrower shall give ~
Lender prompt notice of any laps~ in such hazard insurance coverage. - ;
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to
tt~e Property, whether to the unit or to common elements. any such proceeds payable to Borrower are hereby assigned
and shall be paid to Lender for application to the sums secured by the security instrument, with the excess, if any,
paid to Borrower.
C. Lender's Prior Coaseut. Borcower shall not, except after notice to l.ender and with Lender's prior written
consent, partition or subdivide the Property or consent to:
(i) thc abandonment or termination of the Condominium Project, eacept for abandonment or termination
provided by !aw in the case ~f substantial destruction by fire or other casualty.or in the case of a taking by condemnation
or eminent domain; .
(ii) any material amendment to the deciaration, by-laws ar code of regulations of the Owners Association,
or equivalent constituent document of the Condominium Project, including, but not limited to, any amendment which
would change the percentage interests of the unit owners in the Condominium Project, or ~
(iii) the et~ectuation of any decision by the Owners Association to terminate professional management and
assume self-management of the Condominium Project.
D. Remedies. It Bomower bre~c6es Borrower's covenants and agreements herennder, iacloding t6e corenaut
ta pay w6en due co~+dominium assessments, t6en Lender may invoke aoy remedies~ provided nnder the secority -
instrurnent, iacludiag, but not Umited to, those pmvided nnder Uniiorm Covensnt 7. ~
, IN WITNESS WHEREOF, Borrowcr has eaecuted this Condominium Rider.
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LuCy DePalma -eorrower
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