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Home My WebLink About0358 CONDOMINIUM RIDE~ ~ THIS CONI)OMINIUM RIDER is made tris 1~~~ d~y of ~~r . l9 78 . and 'u incorporated inb snd sh~ll be deem~d Lo amrnd and supplement a MoHgage. Dsed oI 1lrust or Deed to Seeure Debl (herein "security instrumenl'1 dal.ed o! evea dale herewith. given by ihe underaigned Ihereio "Borrower") to secure Borrower s Note to ~(,~~?N NrJR'P(',AGE ~k'!E'ANY~ INC. (herein "l.ender") and eoverina the property de~cribed ia the aecurity instrument aad located at 3200 North AlA, Unit 203, Ft. Pierce, Flori,da 33450 The Properly comprises a unit ia. together writh an undivided inlereat in Lhe common elemeots ot. a.condominium project know~n as ~ p7NE'$ qp~WIIt ~OI~C~IIL~! ; (herein "Condominium Projcct"j. CONDOMINIUM COY$NANTS. In addition to lhe oovenanls and agreements made in the securtty instrumee~, Borrowet and Lender further eovenant and agree as folbwi: A, Asse~~menta. Borrower ahaU promptly pay. w~hea due. all asacssments imposed by the Ownen Association or otAer governi~g body o! the Condominium Projeet (herein "Orvnen Associatioa") purswnt to the provisions of the declarataa. byt~-~s, code of regulations or other constitue~t doeument of the Condominium ProjecL g, }~aurd ln~urance. So lona as the Owaers Association maintains a"masler" or "blanket" policy on the Condominium Yrojret which provides insurance coverage against fire. hszards includcd within the term "eslended coverage." and sueh other ha~rds as Lender may require. and ia such imounts and !or aueh periods as Lender may requ've. t6en: ~ , (i) I.ender waivrs the provision in Untform Covenant 2 for the monthly payment to Lender of onetweltlh of the premium instatlments for hazard insurance on the Propertp; (u) Aorrower s obligation under Unilorm Covenant 5 to mainiain hanrd insurance coverage on the Properly is deemed satisficd: and (iii) the provisions in Unitorm Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any provisions of the declaration, by-laws. code of regulalions or other constituent documenl of the Condomu?ium Project or ot applie- tble law to lhe extent necessary to avoid a conflict between such provisions and the provisions of Uni[orm Covenant 5. For any period of lime during which such haurd insurance coverage is not maintiined. the immediately preceding senlence shaU bt deemed to have no force or effect Borrower shal) give l.ender prompt notice of any lapse in such haurd insuraoce coverage. In the event of a distribulion o! hazard insurance proceeds in lieu of restoration or repair lollowing a loss to the Property. whether lo the unit or to common elemenls. any such proceeds payable Lo Borrower are hereby assigned and shall be paid to Lender for app~~c~tion to the sums secured by the security instrumen~ wilh the excess, if any. paid to Horrower. ~ C, I,coder's Prior Concent. Borrowes shal) noi. excepl afler notice to Lender and wilh Lender s prior written consenl,. partilion or subdivide the Property'or consent ta . (i) the abandonmenl or terminalion oi lhe Condominium Projecl. except !or abandonment or termination provided by law in the c=se o~ substanl'u) deslruciion by fire or othet casualty or in the c~se ot a Lking by condemnation or eminenl domain; (ii) any maleria) amendmenb to the declara4ion. by-laws or code of regulations of the Owners Association. or equivalent conslituent document of the Condominium Projeet, including, but not Iimiled to, any amendrr~Pnl which would cbange the per- cenw6e interests ot the unit owners in the Condominium Project; or (iii) the effectuation of any decision by the Owners Association to terminate professional management and assume self- ; management of lhe Condominium Projec~ ; D. NOTICE. Any notice_from BorroWer to I.ender required in the Condominium Rider shall _ i be mailed to Lender by_certified mail. to Lender's address~ stated in the Mortgage or at such € address as Lender may designate to Borrower by certified mail to the Property Addrese atated~ E a~4ye~ Any such notice from Lende~ to Borrower shall be given in the manner provided under ~ Uniform Covenant 14 of the Mortgage. . ~ IN WITNESS WHEREOF, BorroWer has executed this Condominium Ri r. ~ ~ a~~~C~~-, ~ • R(',E p ~IJI'~i~jy - Borrowu ~ = . ~ j ~ ? ~ pp~?j~-jy - Borrower ~ , i ILEO AND RECUkuEU \ • ~T CUClE ~4:,'k?Y ilA ~ FAGEF r0~'RAS ~ . ; E = K C~:.CU~T CQ-~ - -Bonowe~ ~-s.•c•c~ ~ ~ O~T) l I I~ 4 AN ~'8 -BorroWcr ~ . ~ ' ~ k ' _ ' • ~ 42n482 , ~ - - ~ r ~ - ~ ~ - . ~ ~ ~ • ~ ~ ~ ~f k . E eoo,~z~ Pa~ 35? ~ . ; ~ ~ - ~-~,ti~„~,~sinfvh~ n~nF;R-f to 1 Famllr-dn6-FNMA/FllLMC UNIFORM 1NSTRUMENT (Rev l/Jd) ~ - _ ~ - _ ~ ~ _ : ~ . ~,~~~~3~.~=~'~--~ . ' w