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Home My WebLink About0872 FIRST F.EDERAL SAVlNGS AND LOAN ASSOCIATION OF FORT PIERCE CONDOMINIUM RIDER THIS CONDOMINIUM R1RER is made this . . . . 7. ~h . . . . . . . . . . . day of . _ September _ _ . . . , 19 78. and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust or Deed to Secure Debt (he~ein "security inshument") dated of even date herewith, given by the undeisigned (herein "Borrower") to secure Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE (herein "Lender") a~d covering the Property , described in the security instrument and locaced ac .1QQ44. South. AlA~ :Fort. Pierce ~ .Florida . . . . . . . . . . . . . . . . . . . . . . . . (Prop~rty AOdrsSSl The Property comprises a u~it in, together wi?h an undivided interest in the cotnmon elements of, a condominium project known as . . Atld~t~8 . . . . . . . . . . . . . . . . . . . . . . . - - . . . . . . . . . . - - - . . . . . . (!l,me o~ co~ewmmw++ P~o~.cn . . . . . . . . . . (herein "Condominium Project"). CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument, Borrower and Lender further covenant and agree as follows: A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association or other goveming body of the Condominium Piroject (herein "Owners Association") pursuant to the provisions of the deciaration, by-1aws, code of regulations or other consfituent document of the Conduminium Proiect. B. Hazard Insurance. So long as the Owners Association maintains a"master" or "blanket" policy on the Condominium Project which provides insurance coverage against fire. hazards included within the term "extended coverage," and such other hazards as Lend¢r may require. and in such amounts and for such periods as Lender may require, then: (i) Lender waives the provision m 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satisfied: and (iii) th¢ provisions in Uniform Covenant 5 regarding application of hazard~ insurance proceeds shal) be superseded by any provisions of the deciaration, by-laws, code ot regulations or other constituent dceument of the Condominium Project or of applicable law to the extent necessary to avoid a conflitt between such provisions and the provisions of Uniform Covenant 5. For any period of time during which ~such hazard insurance coverage is not maintained, the immediately preceding sentence shall be deemed to have no force or effect. Borrower shall give Lender prompt notice of any lapse 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 ~ the Property, whether to the unit or to common elements. any such proceeds payable to Bonower are hereby ; assigned and shal! be paid to Lender for application to the sums secured by the securiry instrument. •with the ' excess, if any, paid to Borrower. ~ C. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior ~ writt~n consent, partition 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 o~ a ~ 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 percenfage interests of the unit owners in the Condominium Project; or ~ liii) the effectuation of any decision by the Owners Association to terminate professional management ~ and assume self-management of the Condominium Project. D. Remedies. li Borrower breaches Borrower's covenants and agteements hereunder. including the ~ covenant to pay uvhen due condominium assessments. then Lender may invoke any remedies provided ~ under the security instrument. including. but not limited to, those provided under Uniform Cov¢nant 7. ~ IN WITNESS WHEREOF. Borrower has executed this Condominium Rider. ~ s ~ - 3$ o er ~W. Smit ' -~.~~w~ _ _ % s - Alice J. S , his wife -s«.~.r CONDOMINIUM RIDER-t to a Fam~ty-6~75-FNMA/FH~MC uN~FORM INSTRUMENT f ~f0 AMD R ' rv~ RQVEc P^ ~UCIE COUM Y~F~4. 4 ~ ~':i . .~L<<,~ ~ y'TQ~c A ~ , , , Ui: C~j~ _ l $~P ~~r ~ _ - 9 42 AM'1 ~ ~ form 2so 0 R ~Q~ pry - 55:a( ~.n7'~ PA6E v /1 ~ ~ --~-=s:_- _ _ _ _ - - _ . - ; ~w ~ trr ~ _ z 3 - : ~~.~.rr`V~'"~ ~~:`-"ssh.~,~,"s"~r:;`~-'~"`r_~~:.'~.~~~~~a. K _ ~ ~a;,-,'~"~~ F~'S~