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CONDOMINIUM RIDER
THIS CONDOMINIUM RIDE~i is made thia 13th day ot OCtObEr , 19 78 , and is i~corporatcvi into
and shaU be deemed to amend and supplement a Moriga~e, Ueed of Trust or Deed to Secure Debt Iherein "security instrumrnt")
dated of evrn date herewith, given by the undersigned Iherein "Borrower"1 to secure Bonowec's Note lo FlRST F~DE:RAL
SAVINGS AND LOAn ASSOCIATION OF M1AMI Iherein "Lender") and covering the pmperly described in the securily
instrument and locatrd at 10410 A1A ~ UNIT 809
JENSEN BEACH, FI.ORIOA
The 1'rope~ty ~omprisrs a unit in, together with an undivided interest in the common elements o!, a condominium project knuwn as
HUTCHINSON ISI,AND CLUB ~ A CONDOMINIUM Iherein "Conduminium Yrujrct"1.
CUNOO~IINIUTt COVF.NANTS. In addition to the rovenants and agreemenls made in the security instrument. E3orrnwer
and Lrnder turthrr covenant and agree as folluws:
A. Assebxments. Borrower shall promptly E?ay, when due, ali assessmcnts imposrd by the Owners Assocs?tion or other
KovcrninK body ot the Conduminium Projeet Iherein "Owners Associatioo"1 pursuant to the provisions of the dr~laration, by laws,
c~~de ut rrKulations or other constituent ducumenl uf 4he Conduminium f'rujecl.
B. Huard lnsuraace. So lung as the Owners Associatiun maintains a"mastrr" or "blanket" policy ort the Cond~?minium
t'rujc~et which provides insuranrr coverage against fire, hazards included w•ithin the term "extended coveraKe," and surh othcr
h:?i.:~rd., ~s L~•ndrr may re~~uire, and in such amounts and ior such p~ ri~x14 as Lender rnay rayuire, then:
~i? 1,.•nd~•r w•aives thr provisiun in lJniform Covenant 2 tor the monthly µ~yment to l.cnder of one iK~elftA oi ihe
pr~•mium installm~•nts (c,r ha~acd insurance on the 1'roperty:
~ iil ft~?rrow~rr's obliKation under I'ni(orm Covrnant 5 to maintain iwz~rd insurancf~ coveraKe on th~• I'n?~~rrty is drem~~1
~ati.(ie•d; and
- f iiii thi• prv~~ i~ior.~ in l'niform ('oac•nant 5 rcKardin~ •rpplicatinn of haiard insuran~•~ V«,~~.~~i~ ~h~+~i rx• s~~~ ~ti~-~i~~i t~ti an~•
pru~ i~iun, ~~f thr d~•clar.~tiun, by laws, c~xle of r~Kulstions or uther canstituent d~x•um~•nt of the Cundumiiium Yroject ur ul ap}~1ie
;~bl~• l:~w tu thr ext~•nt nt•r~•~sary tu avuid a conflict txtwern such provisiuns and the provisions ~~f l.'nitorm Covenanl Fur anp .
p~•ri~xi of tim~• durinq w•hich sucn harard insurance coverage is not maintained, the immediately prcx~Hiinq srntrnce shall tx•
dc•~~med tu ha~~~• nc. force or ette~•t. fi~,rruwer shall qive Lender prompt notice ot any lapse in such ha~~rd insuran~•e coveraKe.
In the• c~rn1 uf a dititributiun of ha•rard insurance proceecls in lieu of restoratiun or reE?air [alluw•inK a loss to the PrnE?erly.
wh~•th~•r tu th~• unit ur tu rommun rl~•menls, an~ such prorerds p3Y~hlr to E3orrower are herreby ak~ign~•d ancl shall F?c• paid tu
L~•nd~•r lor applicatiun tu thE• sums ~ecured b~ thc• security instrumrnt, w~ith the excess, if an}~, paid to i3orruwc~r.
f. Lender's Prior l;on~?ent. f3~,rr.~wer shaU nut, exc~•p~ a[tF•r notice to l.ender and with [.endFr's priur writl~~n ~unsrnt.
~~:~rtitinn ur subdividc• thr Nroperty or cunsent t~,:
~i? the abandonment or terminati~in of the (,undominium Nruj~ct, except for abandonment or 1~•rmination prnvidt•d bv
E:iN' ~(1 tflf• 1'.1\f• Uf ~UF15l.~ntia! destruction by (irc~or other casualty or in thc rase ol a taking by condemnation or rmini•nt durn:iin;
ui) any material amrndment to the declaraiion, by laws or ca3e ~~f reKulations of the OM•ners ;1ss~w~iat iun, ur i•yuival~•nt
~•onstitot•ni d~M~umcrnl oi thc• Cundominium !'roject, includinK, but nol I~mit~•d to, an~ amendment which wnuld chanK~• the EN•r
~•enGiKe int~~re,t, u! th~• unit uwnt•rs in the Condominium Proji~ct; or
~ iiil the ef(ectuation o( any de~isiun by the Ow•ne~~ :1tisa•iation to terminatF~ prufessinnal munat{rment and as5um~• srlf
m:+naK~•mt•nt of the Conduminium Project. •
! D. Remedies. It 13orrower breuhrs Borrower R eovenants and agreemenle hereunder. induding the covenant to pay when -
i due condominium assessments, then I.ender may involce ~ny remedies p~ovided under the security~ instrument, ioduding, but not
~ limi/ed to, tbose provided under l;niform Covenant 7.
! Iti` lYI7'tif;Sti WHE:REnF. liorrnwer has executed this Condominium Rider.
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