The URL can be used to link to this page

Home My WebLink About0308 1~ FIRST FEDERAL SAVINC~S AND~ LOAN ASSOCIATION OF ~ORT PIERCE CONDOMINIUM RIDER - THI~ CONDOMINIUM RIDER is made this . ?nd. . . . . . . . . . : . day of . . . xtoM~r 19 . Q.., and is incorporated into and shall be deemed to amend and supplement a Mortgage. Deed o( Trust or Deed t., i~cure Debt (herein "security instrument") dated oi even date herewith, given by the undersigned Iherein "Borrower") to secure Borrower's Nate to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE `herein "Lender"1 and covering the Property described in the security instrument and located at . . ?~~~JO S . Qcean ^ri ve . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~i~.opat~ Adena+a ~ The Property comprises a unit in, together with an undivided interest in .the common elements of, a condominium project known as . . _ . _ . Vi11as It OcQan Villa~e . . . . . . . . . . . . . . . . ;M~w or ca+aom~nwm v.ahct~ _ . . _ . . . . . . (herei~ "Condominium Project"i . CQNDOMINIUM COVENAIVTS. In addition to the covenants and agreements made in the security instrument, Borrower and Lender (urther 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 Project (herein "Owners Association") pursuant ro the provisions of the declaration. by-laws. code of regulations or ather constituent document of the Condomi~ium 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 t've, hazards included within the term "extended ~ coverage," and such other hazards as Lender may require, and in such amounts and for such periods as Lender may require, ihen ~ (i) Lender waives the provisior~ in Uniform Covenant 2 for the monthly payment to Lender of one- twelfth ot the premium instaliments Eor 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satisfied: and (iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any prov:sions of the declaration, by-laws, code ot regulations or other constituent document of th¢ Condominium Project or of applicable law to the extent necessary to avoid a conflict between such pro~~sions 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 shal! give Lender ptompt notice o( 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 Borrower are hereby assigned and shall b¢ paid to Lender for application to the sums secured by the security 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 written consent, partition or subdivide the Property or consent to: j (i) the abandonment or termination of the Condominium Project, except for abandonment or E termination provided by law in the case of substantial destruction by (ire or other casualty or in Ihe case of a ~ taking by condemnation or eminent domain: ~ (ii) any materia) amendment to the declaration. by-laws or codp 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 percentage interests of the unit owners in the Condominium Project; or ~ Iiii) the effectuation of any decision by the Owners Association to terminate professiona) management ~ and assume self-management of the Condominium Project. ~ D. Remedies. If Borrower breaches Borrower's covenants and agreements hereunder, including the a ~ covenant to pay when due condominium assessments, then Lender may invoke any remedies provided ~ under the security instrument. Including. but not Umited to. those provided under Uniform Covenant 7. ~ IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. ~ f~lEO AKD REGggNUkO ST ~OGL C~d TII~b ~A r ~pK L'lftCU1T t0 1 L ~ Q'J7'jf.'~ G(/ . k titilf0 - Thomas 'il ~Levi, a si 1~ adult ; ~CT I7 10 33 AN'18 (.,v; ~-r~ess o , rv, ~Cc'~' , ~ 4;dp453 'a°'~ ~ ~ CONDOMINIUM RIDER-t to ~ Famdy-5/75-FNMAlFHIMC UNi~ORM ~NSTRUMENT 5 ~ ~ ~ ~ j - ~~z~s oA~ ~ E form ?50 ~ ~ F -NS''Y'~n` ~ ~ , .~.r r~_./_ _ r~~~~. . _~F~~KS.p.'~'+SA_q_ ~'°<~a~.~,,f.~.,:~. ~.s-,^' y ~ _ . . _ . rw _ ~