HomeMy WebLinkAbout0025 ioe-964/OP/JA
COND~IV~INIUM RIDER ,
THIS CONDOMINIUM RIDF.R is aude ihis 1$th day ot Maly .19 7$ .=od is incorporated into
and shall be deemed to amend ~and suppkment a Mortgage; Deed ot Truat or Deed to Secure Debt (hereia "securfty iastrumeni")
dated ot eve~ date herewith. given br the underaigned (herein "Borrower") to secure Borrower a Note to FIRST FEDERAL
SAVINGS AND LOAN ASSOCIATION OF M1AMI (herein "Leader") aad coveriag the property described in the security
instrument and Iocated at 10410 AlA~ HTlC~lIl~19CN ISI+At~ID C~~• #1006~
Je.ns~ Beadi, Florida.
The Prcperty comprises a uait in, together with a~ undivided interesl in the common elements of. a condominium projecl known as
~~TPL~iIN.90N IS~IAND CI~ (herein "Coodomiaium Project").
CONDOMINIUM COVF.NANTS. In addition to the covenants and agreements made in the security• instrumenf~ Borrower .
aad Lender turther covenant and aQree as follows: '
A. Assessmcnts. Borrawer shail promptly pay. w en ue, a assessmen ~mpos y e w
go~erning M~dy ot the Condominium Project (herein "Owners Association") pursuant to the prnvisions of the declaralion, by-laws,
code oi regulations or other rnnstitueat dceument of the Condomiaium Projec~
B. Haurd Insuranee. So long as the Owners Association maintains a"masier" or "blanket" poGcy on lhe Condominium
Project which provides insuranee coverage against tire, haurds included within the term "e:tended coverage," and such other
hazards as Lender may require. a~d in such amouats and tor such periods as Lender may require. then:
(il L.ender waives the provision in Unitorm Covenant.2 for the monthly payment to l.ender of one-twelfth oi the -
premium installments for ha7ard insurance on the Property:
Iii1 Borrow•er's obliqatioa under Uniform Covenant 5 to maintain ha~ard insurance coveragc on the Property is deemed
satisGed: and '
liiil the provisions in Uniform Covena;nt 5 regarding application ot hazard insurance proceeds shall be superseded by any
provisions of the declaration, by -laws, eode of regulalions or other constituent document of the Condominium Project or of applic-
able law to the extent necessatytoavoid a con[lict belween such provisions and the provisions of Unitorm Covenant 5. For-any
period of time during which such hazard insurance coverage is not maintained. the immediately preceding sentence shali be
deemed to have no iorce or effect. Borrower shall give Lender prompt notice of any lapse in such hazard insurance coverage.
ln the event of a distribution of hazard insurance proceeds in lieu of restoration or repair folbwing a loss to the Property.
whether to the unit or to common elemenGs, any such proceeds payable to Borrower are hereby assigned and shall be paid to ~
[xnder for application to the sums.secured by the secsrit} instrument, with the excess, it any, paid to Borruwen
C. Lender's Prior Consent. Borrower shalt not, except atter notice to Lender and with Lender s prior written consent, '
partition orsubdivide the Property or consent to: . ,
li) the abandonmeni or termination of the Condominium Project, except for abandonment or termination provided by
law in the case of substantial destruction by fire or oiher casualty or in the case of a taking by condemnation or emiAent domain:
(ii? anr materiat amendment lo the declaration, by-laws or code of regulations ot the Owners Association, or eyuivalent
canstituent da.ument of the Condominium Project, inrluding, but not limited to, any amendment which would change the per-
centage interests of the unit owners in the Condominium Project; or
iiii) the effectuaiion of any decision by the Owners Association to terminate professior~al management and assume self-
management of the Condominium Project. ~
D. Eiemedies. II Borrower breu6es Borrovrer's rnvenants and igreemeats 6ereunder, ineludioa tl~e covenant to pay w6en
~ due condominium assessmenta. t6en Lendcr may involce any remedies provided under t6e senuity instrument, including, but not =
~ limited to. those prnvided under Unitorm Covenaot 7. ~ - -
~ .
~ IN WITNESS WNEREOF. Borrower has executed this Cond iniu '~r.
~ ' /i
f~~''' ' - .
/ -
~
p ~ M. G~ - Borrower
. ~C~~
- ~ ~ - Borrower
~ - Borrower
~ .
- Borrower
~ -
E~ - Borrower
~ RE~tY f~p.
f 11.E0 ~E
~OUM _
~ S~' aOGER~~~~~
~CC _
- - Borrower
~ ~;~or'~_ :{T~ '
; 3 0~ y
~ ~UN ~
~ . 4(r7~s?+ o R ~
~ eoo~ ~
~
~ ~ ,
~ .
i
~ CONDOMI1~iIUM RIDER-1 to 4 Faa:ily-6/75--FNMA/FHLMC UNIFORM INSTRUMENT (Rev 1/761 `
~ ;
~
~
r - ~,_,e- _ •
. ~
~ ~"k . _ ~ . _ _ _ ~ .
.
p- ~ ~
_ •Y"~-~~ . ' ~
~ =~~,~~~~~wz~ ~ -
a~, ._~,3°'. ~ -
_ ;s,