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Home My WebLink About0553 ii- S4S/OAKLA CONDOMINIUM RIDER THIS CONDOMINIUM RIDER is made tAia 23rd ~aY o~ AtiquSt ,19~ g, snd is inco~purated inW and shaq be deemed to amend aad supplemenl a Mortgage, Deed ot Trust or Deed to Secure DebL (herein "aecurity instrument") dated of even date herewitA. given by the uadersigned (hereia "Borrowe~") to secure Bonowei s Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF MIAMI (hereia "Lender") and coveriag the property described in the security instrument and located at 10490 A!A• UNIT 706 . JENSEN BEACH+ FLORIDA ~ The Pcoperty rnmprises n uait in. together with aa undivided iaterest in the common elements of. a condominium project known as HUTCIiINSON ISLAND CLUB, a Condominiwn therein "Condominiurn Project"). C4NDOMINIUM COVENANTS. In addilion to the covenanls and agreements made in the securily instrumenl. E3orrower and l.ender further covenant and agree as follows: • A. Assessmeats. Borrower shall promptly pay, when due, all assessmenls imposed by the Owners Association or other governing body of the Condominium Projecl (herein "Owaers Associalion") pursuant to the provisions of the declsration, by-laws, code of regulations or other constituent document of the Condominium Project~ B. Haz~rd Insuraoee. So long as the Owners Association maintains a"master" or "blanket" policy on the Condominium ~'roject which provides insurance coverage against tre, hazards included within the term "extended coverage." and such other haTards as I.ender may require, and in such amounts and for such periods as Lender may require, then: li) l,ender waives the provision in Uaiform Covenanl 2[or the monthly payment to I.ender of one-twelfth o[ the premium installments tor hazard insurance on the Property; Iii1 E3orrov?er's obligation under Uniform Covenant 5 to ~aintain hazard insurance coverage on the Property is deemed satisficd; and liii) the provisions in Unitorm Covenant 5 regarding appiication of hazard insura~lre proeerds shall be superseded by anr pro.•isions of the declaration, by-iaw s, code of regutations or other constituent document of the Condominium Project or of applic- abie lav?= to the extent necessary to a~oid a cortftict between such provisions and the provisions of LTnitorm Covenant 5. For any period of time during whieh such hazard insurance rnverage is not maintained, the immediately preceding sentence shall be deemed to bave no force or etfect. Borrower shaU give Lender prompt notice of any lapse in such hazard insurance coverage. In the evenl oi a distribution of hazard insurance proceeds in lieu ot restoration ot repair following a loss to the Property, u•hether to the unit or to comm~n elements, any such procec~ls payabte to Borrower are hereby assigned and shall be paid to l.ender for application ta the sums secured by the security iastrument, with the excess, if any, paid to Borrower. ~ C. I.ender's Prior Conseot. E3orrower shalf nof, eYCept after notice to Lender and with Lender s prior written consent, p:?rtition or subdivide the Property or mnsent to: fi) the abandonmertt or termination of the Conduminium Project. except far abandonment or termination provided by ~ ilaw in the case oi substantial destruction by fire or other casualty or in the case of a taking by rnndemnation or eminent domain; (ii) any ma;erial amendment to the dec~aration, by-taws or code of regulations ot the Owners Association, or eyuiralent conslituent document ot the Condominium Project, including, bul not limited to, any amendment which would changc the per- cenlage interests o[ the unit owners in the Condominium Projecl; or liii) the e[fectuation of any decision by the Owners ~lssociation to terminate professional management and assume self- manaqemen~ oi the Condominium Project. D. Remedies. ~[f Borrnwer breac6ea Borrowet's coven~nts ~nd agreemeats hereuoder, includiag tbe +oovenant to pay WIiCD due rnndominium assess~eats, t6en Lender may ioroke any remediea provided under t6e security instrument, iacludi:~g, but not limited to. t6oae provided under Uaiform Covenaat IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. ~ /~/J~ ' ~ ANp REC~p~EO ~ =~{?C~{E COt1M Y ' Bottower ROCfR PO??aAS ; i 6ERARD A$AC~R ' CtERR C~RCWt C00 d . ~l VERIf~~D ,'t,ii~~(. ~~,E~. 't f t " 39 ~t, ~~0 IRENE C . ~1GER , ~ ! eorrower AUG 28 ° , ~ ; ~_z.~ . , ~ Borrower ~~.5101 J - Borrower - Borrower ~ - Borrower ~ ~ ~ CONDO:?flNl[iM RIDER-1 to 4 Family--6~75-FNMA/FFiI.MC UNIFORM INSTRUMENT (Rev 1/76) - _ - - - ~ , - - ~ ~ ~ ~ : ~~"`4~''~~~'~ `h` ~ ~ ,