HomeMy WebLinkAbout0522 ~IRST FEDER~IL SAYiNGS AND LOAN ASS~CIATION
Q~ F4RT P1 ERCE
04-23~34299
CO~TDO~VII1'IL:~~I RIDER
T~i?sCo~oor~fi:c~~~t Rt~tR is made this. . . . . . . ?5th . . . . . . . . . . . .~a~~ of. . : . . JUIy . . . . . _ . . . .
19,7,$ dnd is i~c~r~x~ratrd snt~ and shal! t?e clecmed to amend and suppiemeni a Mc~rt~age, Dred of Trust or D:id
to Secure D:bt (}~rr:in "s~curit~~ inctrum~nt") c3ated of r~rn date hcrrN•ith, gi~cn by the undersiened (her~~in
"Aorro~.er"1 t~~ ~~cure Borr~~~~r's \.,~e to. . . . . . FIP~ST .EEDEfiAL .SAVINGS. A1:A .LQAI~. A.SSOCIATI~JAt .OE. .
.....FORT. P.IERCE. thcrein "Lr~der") and co~i•rin the Pr~~xriy de~cribrd in the ~ecurit~ instrumen; and
I~~ca~ca ae. . . . . . . . . . . ?11 .D Manatee Lane, . Fort. ~ierce,. Florida _ . 3345!1 . . . . . . . . . . . . . . . . . . . -
(Propenr Ado.ess)
"The Property ec~rnpric~s a i t ~e r H~ith an undi~•ided interest in th~ ec~mm~n elemcnts of, a eondc~minium
H~(~~P~IN~ ~ FORT PIERCE CONDQMINIUM SECTION 1
pr~~cc.t know•n ~c
~f~ame M Go.,Oom;mu~c Proitct)
. . . . . . . . . . . . . . . . (h~rei~ "ConJominium Project'
Co~r~o~ii~~t°!~~ Co~'t.~.~~:Tt. ln adclition to the ca~~•.•nants and agreements made in the ~ecurit~' imtrument,
Rorra~~rr and l_rn~ler turther c:o~rnant and a~rec as foilows:
A. :1c~e,smcnts. Eiur?c~~icr ~hall ~re•r.~pth pa~. uhcn due, all a~.e~.mcnts im~?c~~cd b~ the Oti?nrr~ A~c,~;-i~tion
or othrr eo~ernin~ h:~~ nf sh~ C:mdc~minium Prc~ject (hercin "O~+~r~erc A~.~,ciatic~n") r i~r~uant i~ the prc~~itiic+ns c~f the
cleelacatiun, ht-la~i~c, ec~c}r of re,_ulatit>ns c?r c~ih,r c<~,~ctiru~•nt dc?: un~eni of the C~nc'.<~minium F%eet.
R. Nazard In~urance. St~ Ic~ng as the O~~ners As~c~iati~~n mainleins a"ma~tci' or "blenkct" p~~lic~~ ~n ihc
Con.ir~minium Project ~~:hich ~re?vides in~ii:ance cc~~er:ice a!•ainst fire. h.i7ards includcd wiihin the term "ext:n.ied
co~•era~e," and such other h:~zards ac Lender ma~~ req~ire, and in such amoums and for wch p:riods as l.rnder ma~'
rcyuirc, thcn_
(i) Lende~ ~~ai~es the pro~~is;c~n in Uniic~rm Coc,~nant ? for the me~n:hh pa~meni to I,enu~r o! e~ne-,~c1ft;~
of the premium :nccallmc~c~ for izaz:~rd insu~ ~ncc on the Propert~;
(ii) Borrotier's obli,atic~n under Liniform Crnenant 5 ta maintain ~az.~rd insvrance cu~er~,~e c~n the
Prt~pcrt~ is dcemed satisficd: and
(iii) the pro~~i~ior.~ in t:nifc~rm Cc~renant S reearding application of ha7ard inc~rance prc?cceds shall bc
cuper,edce~ b~~ am pro~•isionc of the cleelara~;on. h~-lawrs, cc~de of re~ulations or other cc~n~tiiueni docu~rient of the
Cr~n~~~*ni~ium Prc~jcct ~r os :~rplic~bic law~ t~ ihr catrnt necessar~ to a~aid a cc~nflict betwcen ~uch pra~•isi~~ns anc;
the ~rc~~i:i~n~ of Lnii~rm Co~tin:~nt For en~ pcric?d of :im~ during ~hich ~u~h hazard insurance cnti•r;ac~: i~ not
maintuined, thc immc.iiatcl}- ~:rc.cdin~ ~rr,tencc shall he d~t~ncd to ha~~c n~~ force or efiect. Borm~er shail ~~i~~c
Lrn~]rr prc~mpt rfotice c~f ~n~ I:~Ftie in ~:,ch h~~ard ins~u,ince crn•era,~e.
1n the ecent of a dictribulion of hazard insurance prc~ceeds in lieu of re~.oraiion c~r repair f~ilo~ring a locc to
the Prc~J~erty, whcihcr to thc unit or t~ ~ommon elcm~nts, an~• such prc~ceeds J~a~able ro B~rm~~er are herebt essi~ned
and chall t?c p~id t~~ I_ender fur ap~licatiun t~ the sums srcur~d h~ the ~ecurit~• inctrurr?ent, ~•ith the c~cets. if an~_
~aid tc• B:,rr~ucr. -
C. Lendrr's Pri~?r G?~1.ent. Sc~rrc»+er shal! not. ea~ept vfler n~tice to I_end~r and ~~ith Lender-s pri~~ u ri?;en
con.ent, ~ arlitir~n ur ~abdi~idr thc Pr::~ert~ nr mn~cnt to_
{i) the absndonmem ur t_rmination uf the Cc;ndominium Project. caccpt for ahandor~riient ur tcrmin::tie~n
pro~~ided b~- law• in thr ca~e cubctantial d~struction b~~ fire or oth:r cawah~- or in the ca~e of a tai:inc b~ cun~i;;~ma=.ion
c~r cm~ntn: dc,main: -
(ii} an~ iPisiC.*i3~ .~m~rr.~m:-nt tc? thr dcclara:ic~n, b~~-ldus c•r e~~r oi re•~u!a~ie~n~ 04 the O~tincrs ~<<c~:iativn.
i~r cq~i~.::1;-nt cansti;uent ~~~:ur,irnt c~f .he Cc~ndc~mir.ium Prnicc:. in:iudin~~. hui ?i~~i I;mit~d to, ac~ ~~mc~dm:nt ~+h~~h
K~uid.har.oc the 1 crccntage interests af the unit o~ners in th; Ca~~iominium Prajrct; or
(iii) the eRectuation of am• dreision b~~ the nµ~ners Asscuiatinn to termenate professional mana~ement and
a~~ume •e1.`-;nanagernent c~; the Cond:~minium Projeet.
D. Rrnred'erc. If BurruNer brrarhe~ B~~rro.+rr'~ co.enants and agreements hereunder, including the co~c•nant
!o pa~ »hcn d~ir contl~~~r~inium ~~.~c~~rnrnt~, thtn I.cnder ma~ imuke am re~:irriieS pru~icled unrirr the ~rca~ih
imirumrnl. includin_, hui nM limitrd 1~, th •.e pro~idcd iinifer l nifr~rm Cu.e~~~nt 7.
Ix V1'tT~ESS V?'HFRfoF. Borroucr has exc;utcd this Condominium Rider. _
AN itEC ~ f`A•
fIlEO gouM~ ~v
St~ ROGER POItRAS 7 ~ '
ctea RG E~ COUR - - - - ------_e~,.a~r. ,
Theodore W. Voqel
P~~ , r 9 35 AH n ~ - - .
~/,Li~~~2.C~- - T _ -
Mildred F. VOCJeI - -fi:'r:w!/
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ao~K29~2 N~cE 522
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