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Home My WebLink About0096 FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE CONDOMINIIrM RIDER THIS CONDOMINIUM RiDER is made this . . . 8~h . . . . . . . . . . . day of . . . J~,Y . . . . . . . . . . , 19 .TB. and is incorporated into and shall be deemed to amend and supplement a Mortgage. Deed of Trust or Deed to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned {herein "Borrower") to secure Borrowei s Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIAT(ON OF ; FORT PIERCE (herein "Lender"! and covering the Property described in the secur~ instrument and located at . . . . . . . . . . . . . .2400 S. .Ocean Drive, . Fart .Pierce, . Florida. 334~ . . . . . . . . . ~.oo.n,r neen.s? ; The Property comprises a unit in,- together with an undivided inter¢st in the common elements of, a condominium project known as . . . . . . . . . . . . . . . . OCeaan. Y3118ge. CC~1dCRi,n31~ . . . . . . . . . . . . . . . . . . . tWams a conoonumuT P.o~se» ~ . . . . _ . . . . . (herein "Condominium F'roject"). CONDOMINIUM COVENAMS. In addition to the covenants and agreements made in the security inshument. Borrower and Lender further covenant and agree as follows: A. Assessments. Borrower shall prompdy pay, when due, al) assessments imposed by the Owners Association or other goveming body of the Condominium Project (herein "Owners Association") pursuant to the provisions ot the d¢claration, by-laws, code of regulations or other consMuent document of the Condominium Proi¢ct_ B. Hazard insurance. So long as the Ownen Association maintains a"master" or "blanket" policy on the ~ Condominium Project whkh provides insurance coverage against fire, haaards included within the term "extended ' coverage," and such other hazards as Lender may require, and in such amounts and for such periods as Lender may require, then: ' (i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one- twelfth of the premium installments for hazard insurance on the Property: (ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied; and (iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shail be superseded by any • provisions of th¢ declaration, by-laws, code of regulations or other constituent document of the Condominium Project or of applicable law to the extent necessary to avoid a conflict between ; such provisions and the provisions of Uniform Covenant 5. For any period oi time during which such hazard ; insurance coverage is not maintained, the immediately preceding sentenee- -shali be deemed to have no force or effect. Borrower shall give L.ender prompt notice of any lapse in such hazard insurance coverage. In the event of a distribution of hazard insuranc¢ proceeds in lieu of restoration or repair following a loss to the Property, wheth¢r to the unit or to common elements, any such •proceeds payable to Borrower are hereby ~ assigned and shaU be paid to Lender for application to the sums secured by the s¢curity instrument, •with the ' j excess, if any, paid to Borrower. - ; ' C. Lender`s Prior Consent. 'Borrower shall not, except after notice to Lender and with Lender's prior ; written consent, pafition or subdivide the Property or consent to: ~ (i) the abandonment or termination of the Condominium Project, except for abandonment or ~ termination provided by law in the case of substantial deshuction by fire or other casualty or in the case of a e taking by condemnation or eminent domain; ~ (ii) any material amendment to the declaration, by-laws or 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 perc¢ntage interests of the unit owners in th¢ Condominium Project: or (iii) th¢ effectuation of any decision by the Owners Association to terminate prot¢ssional management and assume self-management of the Condominium Project. D. Remedies. Ii Borrower breaches Bonower s covenants and agreements hereunder, including the covenant to pay when due condominium assessments. then Lender may invoke any remedies provided ~ under the security tnstrument, including, but not limited to, those provided under Uniform Covenant 7. IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. ~ ~ ~ ~ . hort -eo.~~. . ~ ~ - ~ ~ FILEO AMO A~CUit~E ~ ST lUC1E COUNTI' FLA ~ a.- Q~ as q~2 - ~ CONDOMINIUM RIDER-t to 4 Family-6R5-FNMA/FHLMC UNIFORM INSTRUMENT ~ ~r_ , . ,-p . _ ( • ~ - ~ ~ . ~ ~ ~ J~_ ~6 s:~ AH'7Q ~ - ~ f } 5 , fam 250 ~ fl P. ' " ~flG!c ~ ;`~i,E ~ ~ ~ ~ ;,_t . - - - - - - - - _T, , ~ _y ='t~~ h . ' ' _ " FT"~ y~k- r°~.~~. r'~ ~ ~3'" ~ ~}'3", °5..3e ~s~ '~'~~rjR' ' _ + ~ '~,1 ~ y ~ ~ ~ . _ - ~ ' x~`,~`~~b~''`: " Y~