HomeMy WebLinkAbout0626 . ~ ~ . ~ CONDOMINIUM RIDER ~
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THIS CONDOMINIUM RIDER is msde this ~~7th d~y d OCt~ober ~ 19 78 . and is ineorporaled into
a nd shal! be deemed I,o amend snd supplement a Mortg~ge. Deed ot 1~ust or Deed b Secure Debt (herein "securily jnstrumenl")
dated of evea dste herewitb. aiven by tbe undersigned (herein "Borrower"1 to secure Borrower's Note !o
Md'1~ilp~T+1 I~~ ar'~~1NY~ Il~C. (hereia "I.ender•) and coveriag.the property deseribed ia the security
initrURltA~ 3400 NOrth AlA~ Ut~it 502~ Ft, Pj~erCe~ FIOY'ida 33450
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The Propcrly comprises a unit ia. bgether wjth an undivided interest jn the comenon elemenLs of. s condominium projeet known as
SFA PII~ ~ ~~`m~~ - ~ - . ' ~ • - . (herein "Condominium ProjecC~.
^^~?~*t ~*T'~r T~ _.ta:~:.,n tn ~h. ~nven:nts and :rreemenls made in t?~e securily inslrument, Borrowu
CONUUN1L~i una vv ~ ar,.....
a nd Lender further eovenant and agree as tollowx ~ _
A, /1sse~~meata. Borrower shaU prompU~? pay. ~vhea due. all-~ssessments imposed by the Owners A~soeiation or otlur
governins body ~ tbe Condomininm Project (herein "OwAen Associatioa") punuant to the provuions o! the declaration. bylawrs~
~~t o~ j<<ulations or other constituent document of the Condomioium Project.
g. H,s,rrd Io~urance. So )ong as tbe Owners Auociatioa maintains a"master" or "blanket" policy on the Condominium
Projcct wbicb provida insunnce coverage against rire. haurds indudcd within the term "extended coverage." and sucli other
haurds ss Lendes ma~r require. and ia such imounts and !or such periods as I.ender may require. then: '
~ I,ender waives the provision in Uniform Covenant 2 for the~monthly payment to I.ender of one-twelttb o! the
prcm;ua? instaUments (or hsrard in~nrance an the ~''r+~~ertg. ~ . ~
~u) Borrower
s obligation under UnJorm Covenant 5 to maintain hazard insurance coverage on the Property is deemed
salisficd; and
~iii) the provisions in UnJorm Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any
~rovisions of the dedaration. by-laws. code o! regutafions or other constitue~t documcnt of the Condom~nium Ptojee! or oispplio-
eble law to the extent necessary to avoid a confiict between such provisions snd the provisions q! Unilorm Covenant 5. For any
period ot time during whic6 such hazard insurance coverage is not maintiined, the immediately preceding sentence shaU be ~
deemcd to have no torce or eflec~t Borrower shall give I.ender prompt nolice o! any lapse in such haxard insurance coverage.
ln the event of a distribution of hazard insnrance proceeds in lieu ol restoration or repair lollowing a loss to the Properly.
whcther to ihe unil or to common e)ements. any suc}? proceeds payable b Borsower are hereby assigned and sha1) be paid to
I,endrr !or sPP~~~1O~+ to ihe sums secured by the security instrument. with the excess. if any. paid to Borrower.
C, Z,cnder's Prior CoacenL Borrower ahaU not, except after notice to Lender and with I;ender s prior written consea~.
p:rtition or subdivide iheProperty or consent toc
~j) the abandonmenl or termination oi the Condominium Project. except !or abandonment or termination provided by
In w in tbe e~se o! substantul destruetion by fire or other n'su:lty or in the case of a iaking by condemnation or eminent domain;
(ii) - any materut amendment to the declara}ion. by-laws or code ot regulations of the Owners Association, or equivalent
censtituent document of the Condominium Projed, including, bul not limi4d l0. any amendment which would change i}?e per-
cenube interests o! the unit owners in the Condominium Project; or -
(iii) the effectualion of any deciseon by tfie Owners Association to terminate protessional man~gemenl and assume seU-
m~nagcment o! the Condominium Project,. ' '
D.. NOTICE. Any notice_ from BorroWer- to Lender required in the Condominlum Rider shsll
he mailed to I.ender by_certified mail_ to Lender's address"stated in the-Mortgage or at suc
address as Lender may designate to BorroWer by certi•fied mail to the Property Addrese_etate
abo~t~ Any sucb notice frbm Lendet to Borrower shall be g~ven in the mannez provided ~~ndet
Uniforra Covenant 14 of the Mortgage. ,
IN SJITNESS WHEREOF, Borrower has executed this Condominiutn Rider.
' . ~ GUIII) BIl~F'~BY~~;
- . - BOROwlI
' . . (SEAi,)
r.C~i QJ~t -BOROwt~
. F;:.c~J RECOROED
: ~'.:CsE ~~U'JTY. FL~.
_ .
~ - Borrow
4~~9~6~ • . . ~r
. ~ I ~ f'1UiF---~ U FO'1 (1 . ~ 7 ' ~ . -$orrorrcr
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~~f:-~~ ~`it~e ~c+mpany
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. . _ ~ • .~T, , , - 1 F',.,.Ify I/1f FJJt~lA/F111.A1C 111JiFnRM 1NSTRU?~SENT (Rev I/76) ' !
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