HomeMy WebLinkAbout0024 ~ . ~ CUNDOMINIUM RIDER -
1HIS CONDOMINIUM R1DER is madc this 13th day of October ~ 19 7~ . ~?nd is incorpor~ted inb
s nd shai) be deemed lo amead and supplement a Mortgage. Deed of 7~ust ot Deed to Secure Debt (herein "securily instrumcnt')
d.trd ot evea dat,e herewilh. given by the underaigned (herein `BOffOWEf~) to secu~e Borrower
s Note to
Mc~CAIX~i~AN I~JR'Ir~UC`~E ar'iP1~NY~ INC. iherein "Leader`) and coverioa. the property described La tt~e aecurity
instrument apd tocated at 3200 North AlA, Unit 1105, Ft. Pierce, Florida 33450
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The Property comprisea a unii in. together ivlth an undivided inlerest ie the eommon elements of. a condominium project koown as .
SFA PIIVES ~ ODrIDC~IIIJI~+'i ~ ~ ' ; _ (herein "Condominium Projeet").
C4NDOMINIUM COVENANTS. In addition to the eovenants and sgreemenls made in lhe accurity instrumenl, Aorrower
and Lender further covenant and agree as lollows:
~~:-simenta. Borrower shall promptly pay. ~?heo due. atl aesessments imposed by the Ow~ers Aasouation or other
governing body of the Condominium Project (herein'Ownen Associatioa"j pursuant to the provisions o! the declaration, by~ws„
code of rerulstions or other constituent document o! the Condominium Project.
B. H.yard 1n~urance. So long as the Owners Association maintains a"mast.er" or "blanket' policy on the Condominiun~
Project whicb provides insuraeee coverage~against Gre. hazards inc]udcd within the term "extended coverage; and such other
ha ~rds ss Lender may require. and ia such imounts and !or sueh periods as l,ender may requ've, then: ~
(ij Lender waives the provisioa in Unilorm Covenant 2 for the monthty payment to I.ender ot onatweUth ot the •
premium instapments ior haurd insuranceon the Properlp;
~u) Borrower's obligation under UnJorm Cove~ant 5 to mainlain hazard insura~ce coverage on the Property is deemed
satisficd; and
(iii) tht provisions in Unitorm Covenant 5 regsrding applicalion of hazard insurance pracerds shall be superseded by any
proYisions of the declaration, by-laws. code of regulations or other constituenl document of ihe Condom~nium Project or of applia
nble law to the extent necessary to avoid a conflict between such provisions and the provisions of Uniform Covena~t 5. For any ~
pcriod o! time during whith such haurd insurance coverage is not maintained. the immedialely preceding sentence shall be
dcemed lo have no-force or ettecl. Borrower shal) give Lender prompt notice of any lapse in such hazard i~surance cover:ge.
In the event of a distribulion of haurd insurance proceeds in lieu of restoration or repair tollowing a loss to the Property.
whether Lo lhe unil or to common elements. any such proceeds ~ayable Lo Borrower are hereby assigned and shall be paid to
I.endcr !or apptic~lion to the sums aecured by the seturily instrument, with ihe excess, if sny. pa;d to Borrower.
C, Lcoder's Prior Consca~ Borrower sba11 not. except atler notice to Lender and wilh I.ender's prior writlen consenl..
p~rtition or subdividr !he Property'or eonsent tac
(i) the abandonment or termination of the Condominium Project~ except Jor abandonment or termination provided by
)a w in the nse of substantial destruction by Gre or other c~sualty or in the use of s Lking by condemnatiop or eminenl domain;
~ii) any mattria) amendment to the declsra~ion, by-laws or code of regulations o! the Qwners Associalion, or equivalent -
constitvent document of the Condominium Project. including. but not Iimited to. any amendment which wouid change the per- -
cenube intcrests of the unit owners in the Condominium Project; ot
(iii) the effettuation of any decision by the Owners Association to terminate professional management and assume self-
rnanagcment of the Condominium Projee~ ' ~
D. NOTICE. Any notice_from Borrover to Lender required.in thg Condominium R3dez shall ,
be mailed to Lender by_certified mail. to Lender:s aderess siaied in tne i•i~zt~d~c at s:;c :
addre6s as Lender may designate to BorroWer by certified mail to the Property Address stated
above. AnY such not~ce from Lender tp Borrower shall be given in the manner provided undez
Uniform Covenant 14 of the Mortgage. .
IN ~1ITTIESS WHEREOF~ BotroWer has executed th Condominiu Ridet.
' ~ . RI RD BUTLE -Borrower
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~ ' , ~Ct:~ ~ C~,
DYS B R ' -Borro..er
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' , - Bonower
' . - Borrower
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S~• ~1JCrf COUNtT F~A. ~ ~
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~'~4'!! r?n~r, -a 1 Firnlly-6r/6-FNMA/F1~I.MC UNIFORM INSTRUMf:NT (Rev 1/18)
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