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HomeMy WebLinkAbout0352 ~tRST F~DERAL SAVlNGS AND LOAN ASSOCtATION OF FORT PIERCE 05-23039397 C01D01'[I\'IU1~1 R1DFR TtiisCo~uc?yi~tt•~t Rtnf R i~ madr this- - • - - - 20th . . . . . . . . . . . . . . .ds. ai. . . . . .OCtobe,r- . . . _ . . . . • - 19.T8., and is inrc~rFx~rated imo ar.d ~b~l! bc Je~mrd to amrnd 'and ~ut Flcmrnt a!~iort~:~ce, D:ed of 7rust or D~ed ta Secure D:bt (herrin ".ecurit~~ itrxtrumrnt"1 e}atcd of ~~~~n c'.ate hcr~~rith, ~i~en b~~ i~e undeni~ned (her~in ..Bc,rro~~er") to ~rcure BorroaLr's \,,te t~,. . . . _ . FIr'i.ST .rE~~RfiL .SA~rI~2~S. A.~R? .LOAh. ~SSUCIATIDl~ .OF _ . .....FORT. P~~RCE. {herein "I_rnder") and ca~crine the Pr.> n~~ de.c bi~d in thc ~ecurit) ~in~trume~t snd io~aced ac. . . . . ~0044 Sou~.h A-I-A~. Jensen Beach~ Florie~a ,334~? . . . . . . . . . . . . . . . . . . . . . . . . . . (PrepertY Rrt]~e:s) The Pmpem mm~riccs a unit in, ~c~~ether ~~~ith an undi~ i:ied int: rest in ihe commc~n el; mentc oi; a c~~ndc~:~~ir;ium pr~~icct kno~•n 3c...._ ._ATI.IIN'1'IS OONDOI'RMMIUH........--•--.._.._..--• (ha^~~e o' ConOo~n~n,urc. Fro~lCt) ~ . . . . . . . . . . . . . . . . (hcrcin "Conciominium Proi, ct' . ('o~.~n~~t~~t ~?t Cci~~t~a~TS. ln ad~i:i.~n t~ tl~r C(~~'~I::!!ll~ and a~~re~ ;irntc m;idc• in thc ~r.urit~ it~~truti~eni, B:~rru~.rr and Lrr,der furthcr c.,•.•r~an: ~nc', aRr:c• ac fnll~~~~~s: . ~~~t'~~tI1tI1~S. ~:lf!(~~~C'f 5i1:S~I j~C~~:?11I~~ P:1\", \~}1':? (~U~. 8~~ ::~~••:c ;lifl!C 1Tininc'Cj hC 1i1^ C):~i1Cf~ f~cc'kl~`IUiI uf i>:t~•.•f _'t~~;r:~in~_ hc~d~ e~f th~• ('e,ncivC)i:~it;!i: E'(:~ieCi (}t~re:in "O~~nrrc :1.~>>:ia~iUTl~~) ~ ur.,;anl t~ i}~: }:r~}t':t<<•~. c~f the i~~~~.1f3:1t~S1, h\-~JV1'S. CI~C (~i (C~_`U~.~ii~~n< (~if1Cf C(~Il>I!iUE'Tll (~111"UfilCili ~~f the C~c~ndti~E:i:nium ~~O~C'Ct. I3. t~az~rd Inwrance. ~ i~m~ a~ the O~+rier~ .~s~ckiatic~n Riai,~tains a"mas~er" ur "h1anl,ct'~ ~c~li;c ~n the (~~~n.t~~z~inium Prc~ject khich n~<~~i~cs in~ur::n,c ca~~rraec a~.~in~t firr, hazt»ds included ~~ithin the term "c~?ended c~~:rr~_~e:'~ snd wch othrr h:~t.~rd~ as Lendrr ma~ rt•yuire, ~nd in ~uch ~m~~unts and for such p~ric~c~~ ac l.er~..;:. ma~ r~ quire. thcn: (i) Lcnder v?aives th: pscn°i~iun in L'nif~rm Co~~nant ~ fos ,he m~nthl~ },:s~mCni t~ l.entier of c~ne-'v.,lfth c,f thr prcmium in~iallmcnt~ fi~r h3-rard ir.wrsn;c c~n Ihc Pr~~pcrt~•; (ii) Bc~irower's cirli~ation under L'nifurm Cc~~cnant 5 t~ n~sin;air~ h:~7ard in:ii;ance co~cra~e ~~n the - Pm~rt~• i~ dccmed satisficd; and ~ liii) lhc p;~~isic•ns in [Gnif.~rm Cu~rnant S rr:ar.~me a~~~~?icaticm 1s: ~ard in~?1:ancc pr~~~r~ds chall h; ~u~cr.~dcd b~ am• pr~~•icions ai t1?e d~clar-stion, b~-1au~s, cc~r :?i reri:'•atin~zc nr other ecmt;ituent d.~_ument of ~hz ('c~r~„c~,-~:i~iurn Projres ur ~f ~j ~lic:,hie lzu- t~ th~ etirnI n~crsc~n te~ a~c,id a c~:iflict b:t~~eer. ~u.h pm~i~ions and th: , r~»:~i.~ns of L:nif.~rm C~~cn:~nt Fn: an~ ~~•cic,d ~i ~imc du::n,~ tih~.h ~u~h :,azarc~ inwrance co~crag: i~ noi main;nincd. the irnmediateh , rrcedin~ s~mrnce ~hal{ he deemrd tc+ ha~e n~~ fc,rce or efiect. $~~rrc~wer shall si~~c ~ Lrnd~r pr~~mpt nc~ticc ~i ;~n~~ i~nsc in wch h~,3rd ir..ur.:n~r:c~~crn~c. ln the e~ent c?f a~istributi~n oi ha~ard inwrance pr~~ered~ ir. ]ieu c~f r~storaticm or ri~air fcrll~~wing a ic~~s to the Prc~~crt.. uhether to thc unii or t~ c.~mm<~n elcn~ents, an~~ c~~~h prc?rred~ pa~able tc~ B~rr~H•ct are hcreh~ a«i~n-rd a~e~ ~hsl! be paid t~ l.znder fur plication tc. the wms ~:ured h~ the ~reuriri i~ctrumer.t. kith ttt: rxec•~s_ ii sm-. ! aid tc~ A~~rou_r. . . - C. Lendrr'~ Prior Comrnf. E;c~ire,~~rr ~i;al: ~c?t. e?crpt :lf~z•r m~ti~e u~ Lrr~d.r and uith I..~r,:~r:~~ ; ric~r u:i;:;:n c~~n•;nt. ~~:,n~:=un c~r ~i;h;3;~id; tiic Pt~~~rt~ c~r c~~r.•.ns Io: fi) ?he .~:~~r1cl,~n;nent or termin~:ic~n of thc C'c~;~d,~i;~i:i~um Pmject. =_rc~pt f~,r :~~::n~.~nmrnt ~r t~r:nit~a;i<m prc,.i~.ied b•, law~ in ihr ca~t ~i wht:antial d_~struc+.i,,n b~ fire c~r ~~;t~_r _:~.;~alt~ c~r in t}?e ra~e oi a tzi:i~c b~ rc~nd~m;;a:i,~r n: ~mi~l_nt .ivm~in: . . ~Il) :s•`l\ f1131iTt:f~ :S(ilii~ijiTl~Il: ':C~ 1}1C ~jC:~:7;31R~r.. h~-;•:.+1 cfr :+~uC Oi :C~'UtJ~1C~'tS (lI ~Tl: Q1~7it7S :~«t~' :~e? ~~A. :':{:;i1;s~cT)t Ci~.^,CII:UCTII ~~:~iL'iTlc'fli thc (~~~n,j;~*?llnium P!C~~Cii_ 17i:1J~~?1~. FIUi 21t~: j1~Ii~1C(~ T(~, .~m ~m:~li;"'1CP.; ~;;~r:}~ wc•.,lc? cnsn~c th~ prr:cnta~~c ini~rec[~ Or ihr uni: r..net~ in !hr Con:ii:IF]tr.lu?Ti Pra;_'ct: or (iii) ihe eftrciuaticm o! am decisicm h~ ihr O~+n.rs Asc~,~;atic~n to irrminate pr~fcssinzal mana~emen! snd a«~:ne s:if-m;:~a~:~m;n: c?r?hA Ccs-;i~~*r:inium Pri~irct. U. Rrm~-diee. !f R<~nuNC~ t?rc::che~ fiurru•~rr'c cmer:ants dnd a~ncments hcrruncl~r, incluclinr the c~~~cnant t<, .,!~cn dur cnnd~unis,ium s••e•~~ninf~, Shen L~,nder rna~ in.n{,e am rcm~~~iie~ ~?rr,~i,!rd unEler ihe ~e.~ rift in~t~~~i~rnt. includin~. hut n~~t li~nit~d tu. thu.c pro?idr~f undcr l.~iif~~cm (~r~~t nant 7. • 1~ ~t~~r~:f;~ ~~F,~ s;foF. B;vmu:r has ear~utrc? ;hi~ Cnn~.~;n:ni?m Rid~r_ • , ~ .2.`~,n I ~ _ - - - - _ - holas Sacco -6~••~~• ~?~M ~ ~ ~~Y , c~ ~t .i ~ J u.-~ _ - ~ t ~o ~ aM F~. ~~~/~y ~ FtlEO ?ND RECOIt0E0 Ph,y A. Sacco ST.IULIf COUMtY.ft~. pOGEA POtTaAS CLE~I~ C~RCUIT COYRT RfCORO vERIftEO _1~~,~. f, ~ ~V~ , 4 224n8 ~ / ~ ~ . 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