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Home My WebLink About0614 FIRST FE~ERAL. SAViNGS AND LOAN ASSOCIATION ~ - OF FORT PIERCE ~ ~ CONDOMINIUM RIDER THIS CONDOMINIUM RIDER is made this . . _ . , . 12th . . , , day of . . . . . ~tober 19 . T8 and is incorporated into and shail be deemed to am¢nd and supplement a Mortgage, Deed of Trust or Deed to Secure Debt (herein "security instrument") dated of even date herewith, given by the undenigned (herein "Borrow¢r') to secure Borrower's Note to F[RST FEDERAI. SAVlNGS AND LOAN ASSOCIATION OF FORT PIERCE (herein "Lender") an~ cove~ing the Property described in the security ins~ument and located at . . . _ . . . . . ~?3. Bey.shore. Ih`ive s Ft, Pierce, . Florida. . 33450 . . . . . . . . . . . . . , ~.o~.n„ The Ptoperty comprises a unit in, t4sgther ~uith ~ uSd~ interest in the common elements of, a condomtnium project known as . . . . . _ . . . . CbloTlBaes on om n wn . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~ (Manw ot CaWonw+ium Rop~tU . . . . . . . . . . (herein "Condominium Project"1. CONDOMINIUM COVENANTS. ln addition to the covenants and agreements made in the securiry inshument, Borrower and Lender further covenant and agr¢e as foqows: A. Assessments. Borrower shall prompdy pay, when due, all assessments imposed by the Owners Association or other goveming body of the Condominium Project (herein "Owners Association") pursuant to the provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium Rroiect. ~ B. Hazard Insurance. So long as the Owners Association maintains a"master' or "blanket" policy on the Condominium Ptoject which provides insurance coverage against fire, ha:ards 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 requir¢, then: - _ (i) Lender wafves the provision in Uniform Covenant 2 for the monthly payment to Lender of one- twelfth of the premium insta0ments for hazard insurance on the Property; (ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfi¢d; and (iii) the provisions in Uniform CovenaM 5 regarding application of hazard insurance proceeds shall be superseded by any provisions of the declaration, by-laws, code of regutations or other constituent docum¢nt of the Condominium Project or of applicable law to the extent necessary to avoid a conflict betwee~ such provisions and the provisio~s 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 shaq give Lender prompt notice of any lapse in such hazard insurance coverage_ . In the event of a distribution of hazard insurance prceeeds in lieu of restoration or repair following a loss to I the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby ; assigned and shall be paid to Lender for application to the sums secured by the securiry instrument, •with the ~ excess, if any, paid to Borrower. C ; C. Lender`s Prior Conse~t. Borrower shall not, except after notice to Lender and with Lender's prior written consent, partitlon or subdivide the Prope~ty or consent to: i (i) the abandonment or t¢rmination of the Condominium Project, except for abandonment or _ ~ termination provided by law in the case of substantial destruction by fire or other casuahy or in the case of a ~ taking by condemnation or eminent domain: (ii) any material amendment to the declaration, by-laws or code of regulations of the Owners ~ Association, or equivalent consMuent document of the Condominium Project, including, but not limited to, any amendment whkh would change th¢ percentage interests of the unit owners in the Condominium Project: or (iii) the effectuation of any decision by the Owners Association to terminat¢ professional management and auume self-management of the Condominium Project. ~ D. Remedies. If Borrower breaches Bonowe~'s covenants and agreements hereunder, including the ~ covenant to pay when due condominium assessments, then I.ender may invoke any remedies provided under the security instrument, including, but not limited to, those provided under Uniform Covenant 7. ~ IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. ~ F L!D ~?Np REC R ED S~. ~UCIE COUN~r ; ROGt R ~+~~TR~~ ~ /7 i2i~ l t'• R t:: +C,UIT COIiRT ~~~j~' ~jr~ • • ~ ``:.~i,Ep~, Stev n S. ~ ~ ` ~gr.g.g~ -BWro~rer ~ Oct 18 10 06 AM'18 -~f~-~ ~ ~ ~ F~ances A. I,arsson -s«.o».? ~ ~0637 ~ ~ CONDOMINIUM RIDER-t to 1 Fam~1y-6/75-FNMA/FHLMC UNfFORM INSTRUMENT ~ ~ ~ sooK z~ P~ s~z ~ ~ 2~0 ~ ~ ~ . _ - - Y,~.~ _ - ~ ~ ~ , ~ _ v.~ . _ __~_r - _,v.:~ r=~