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Home My WebLink About0920 ~11- 2~9IWEST CONDOMINIUM RIDER THIS CONDOMINIUM RIDER ia made this~ 12 th dsy ot Septembe r , 19~$ . a~d is incorporated inw and shaq be deemed to amend and supplement a Mortgage. Deed ot 1~ust or Deed to Secure Debt (hereia "security instrument") d~ted of even date herewith. given by the undersigned (hereia "Borrower") to secure $orrower's Note to FIRST FEDERAL SAYINGS AND LOAN ASSOCIATION OF MIAMI (herein "Lende~") a~d covering the property described in. the security instrument a~d located at ~0490 A1A+ UNIT-407 ~ JENSEN BEACH~ FLORIDA The Property comprises a unit ia. togetber with an uadivided inlerest in the common elemenLs of. a condominium project known as (hetein "Condominium Project"). CONDOMINIL'M COVENANTS. In addition to the covenants and agreements made in the serurity instrument, Borrower ar.d l.ender [urther cove~ant and agree as foiiows; A. Asaessmeuts. Borrower shal! prompt~y pay. where due, al) xssessments imposed by the Owners Association or other governing body o! tke Condorainium Project ~herein "Owners Assa;iation") pursuant to the provisions of lhe declaration, by-laws, code of regulations or other constituent document oi the Condominium Project. B. Hasatd Inewaoce. So long as the Owners Association maintains a"master' or "blanket" polic; on the Condominium Project which pro~-ides insurance coverage against C?re. hazards inciuded within the term "exl.ended coverage; ` and such other ha~rds as Lender may require, and in such amounts and tor such periods as I,ender may require, the~: li) I.ender waives the provision in Uniform• Covenanl Z tor the monthiy payment to Lender ot one-iwelfth ot the premium installntents for hazard insurance on the Property: f iU Borrower s obligativn under ni[orm Cuvenant 5 to maintain hazard insurance covcrsge on ihe Propert~• is deemed satistied; and ' liii) the pru~•isions in Unitorm Covenant 5 regarding apptication ot hazard insurance proceeds shall be supersedeci b}• any pru~~isions of the declaration, by-laws, code of regulations or other constituent documenl of the Condominium Aroject or of applic- able law• to the extent necessar~• to avoid a contlict between such provisions and 1he provisions of Uniform Covenant 5. For any period of time during which such hazard insurance coverage is t?ot maintained. the immediately preceding sentence shatl be deemed to have no force or ettect. Borrower shall gi~~e I.ender prompt notice of any iapse in such hazard insurance mverage. In 1he event of a distribution of hazard insurance proceeds in tieu of restoration or repair [o!lowing a loss to the Property. whether to the unit or to common elements, any such proceeds payable to Borrower are hereby assigned and shall be paid t~ l.ender for application to the sums secared by Lhe security inslrument, with the~excess, if any, paid to Borrow~er. C. Lender's Prior Consenl. Borrower shall not, except after notice to Lender and with Lender's prior written consent. partition or subdivide the Property or consent to: (i1 the abandonment or termination of the Condominium Project, except for abandonment or termination pro~~ided b~~ law• in the case of substantial destruction by fire or other casualtt or in the case of a taking by condemnation or eminen{ domain; Iii1 anv malerial amendment to the declaration, by -laws or code of regulations of the Owners Association, or equiraleni cunstituent document of the Condominium Project, inciuding, but not timited to, any amendment w~hich would change the per- cenlage interrsts of the unit owners in the Condosninium Yroject; or 1 iii! the effectuatioo of any decision by the Owners Associatiun to terminate professional managemc~nt and assume self management of the Gondominium Project. D. Remedies. If Borrpwer bresches Borrower's rnvenants and agreements hereunder. including the rnvenant to pap when due coodominium assessments, t6en Lender may invo{ct any remedies provided under the security instrument, including, but not limited ta.. tbose prnvided under Unitorm Covenant IN WITNESS WHEREOF. Borrower has executed this Condo ' um Rider ' 7 , x . STEPHEN S KRO~I - 8orrower FlLEO aNp RECUROEU ST.LUCtL COUMTY FtA X ~ n G RQ ~ : ~ "r ;tTe~dS - ~ ` ` ~ ~ ~ - ~ SATRE S . KROLL - f3orrower O~j 3 i I o6 ~H ~?g ~ -Borrower 4189~1 -~rrower - Borrower - Borrower a~t~ ~ CONWMIPiIIiM RiDEA-1 to 4 Family-6/75--FI~3~iAiFHLbiC UNIF'ORH INSTRUMENT IRev li?6t ~ _ _ _ - - - - _ _ - - - - _ _ , i ~ S - ~ g'~;^~- .s.;-~„ . . . _