HomeMy WebLinkAbout0576 ~ . ~ CONDOMINIUM RIDER ~
THIS CONDOMINIUM R1DER Is msde this 29th d~y ot September ~ 19 78 . and is incosporated int,o
a nd shall be dcemed Lo amead aad supplement a Morlgage. Deed ot 1Ywl or Deed to Seeure Debt (hereia "securit~ inslrumenl')
da~ed ot evea date hee~ewltb. 6iven tli~ undersigned (hereln "Borrower•) to secure Borrowar
s Note b
t?1t~C~AL)(~E~,~N N~'PGAG~ ~Y'II'ANY, INC. Iherein "I.eader"~ and eoverina.tbe propertr deaeribed ia tAe sccuriW?.
instrumeat aod louted at 3200 North AlA, Unit 707 Ft . Piercey Florida 33450
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The Property comp»ses a uait in. togetber w?itl~ an undivided intenal ia the commop elements oi. a eondominium projecl known as .
SFA PII~:S ZO~R OD~~DCNIII~TItI?! ' • ~ ~ . ~ ~ . (herein "Condominium Projcet").
CONDOMiNIUM COVF,NANTS. Id addition to the eovenaets and agrcements made ia Lhe securjty~ instrumen~, Borrower
~ nd Lendu lurther covenani and agree as lolbwx ~ . t
A. Asseaamenta. BorroM?er shaU prompUy pay. w~hen due. all auessments i~tnposcd b~ tbe Owners Association or other
governina botly of the Condomiaium Project (hereia "Owaers Assoaatiob') purswnt Lo the provisions of the declaration. byla~vs.
code o! reaulaijons or other eonstituent documeni of the Condominium Project.
8. Has.rd Iosuraoce- So Ions ss the Owners Assoeiation maintiias a"mmaster' or "blanket" policy on the Condominium
Projcct which provides insunnee eavrrage~sgainst fire, haurds induded within the lerm `extended coverage." and su~ch otber
ha urds u I+end~r rr~y n9uire. and in sucb imounts and for such periods as Lender may requ've. theo: ,
~i) I,endcr wiives tlu provision in Uniform Oovenant 2 for the~monthly payment to I.ender oi one-tweltlb of tbe
premi.um installments for hazard insurance on the Properip: . . .
~u) Borrower
s obligation under UnJorm Covenant 5 to mainf.ain haurd insurance coverage on the Property is deemed
salisrcd; ~na -
(iii) tfie provisions in UnJorm Covenant 5 regarding application of ha~rd insurance proceeds shilt be superseded by any
prov;s;ons of the detlaralion. bylaws. code oT regulations or other constiluent document of the Condomu~ium Project or o! app)ia
able law to the exteal neeessary to avoid a contlict between sucb provisions and the provisions of Uniform Covensnt 5. For any f
per;od of time during which such bazard insurance coverage is not maintained. the immediately preceding sentence ahall be =
deemed to have no~force or etfett Borrower shail give I,ender prompt notice ot:ay lapse in such hazard insurance coverage.
In tbe event of a distribution ot haurd insurance proceeds in lieu o! resioration or repair following a loss to the Property.
whether to the unit or to commoa etements; any sueh proceeds payable to Borrower are hereby assigned and shall be paid to
Lender for appl~vtioa to the sums secured by tbe security instrumen~ with the excess, it any. psid to Borrower. ~
C, I,ender's Prior Concen~ Borrower aball_ noi., except aiter notice to Lender and with Lender s prior wriltea consent,.
ptirtition or subdivide t?re Properiy or consent toc ~ .
(ij ihe abandonmenl or terminatioA of the Condominium Projrct, excepl !or abandonment or termination provided 6p
lnw in the case ot subsLntial destruction by Gre or other ca'sualty or in ihe nse of a taking br condemnation or emincnt domaiq
~u) - sny material amendment to ihe dedara~ion. by-laws or code o! regulations o! the Ownen Association. or equivaleat .
constituent document o! ihe Condominium Project, ineluding. but not limiled t0. sny amendmenl which would change lhe pe~- ;
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~ centa6e inluests o! the unii owaen in the Condominium Project; o~ '
~iii) the ettettuation of any decision by the Owners Association to terminate professional management and assume seU '
m~nagement of the Condominium Project ' • _ t
D. NOTICE. Any notice_from Borrower- to Lender required in thg Condom3nium Rider shall _
be mailed to Lender by_certified mail. to LenBer's address"stated in the-Mortgage or at such
address as Lender may designate to Borrower by certified mail to the Property Address.stated
abave. AnY such notice from Lender to BorroWer shall be given in the manner provided under :
Uniform Covenant 14 of the Mortgage.
IN ~IITNESS WHEREOF~ Borro~aer has executed th ndominiu r.
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' ' ~ . -EbWARD F. BRO -Borrowet
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MARY BU BRODERICK -Borrower i
. F~~E~ ~MD RECORBEU - ~
~ :T- LUCiE COUNTr F~ ~ ~ ~ - ~
~ pGCr= -4!TA~r •
r r: . -Borrowt~
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. OC f 1 ro 3(~ 11! 1,/ V " -~OROwtt
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~;,n~+~?: irr~ r.mFR-~ ~o I F.mtly--8/l6-FNMA/FH1.1+lC UNJFORM INSTRUMENT tRev frld) ~
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