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Home My WebLink About0947 . • C~ U N 1.,) ~ M1N 1 U 1V1 .K,.l1~.N;.,t~, ' • . . . . THIS CONDOMINIUM RIDER Is made this 14th day a! November .19 78 , and ia inwrpor~ted tnb ' , nd ah~U bs deemed lo amend and supplement a Morigage. Dced o! ~ust ot Dced to Seture Debt (berein "security Instrumentry d.ted ot evea dste bcrewllb. give4 by tAe undersigned (hereta "Borrower'~ b secure Borrower's Note to Ny~A~~ N'C~I~G~GE ar4~ANY~ II~1C. fbaeto "Leoder") aod coverins.t?~e propart,r described !a the securilJ? ~ inslrU~11t0~ ~pd ~~~d 3200 Nolcth AIA~ Unlt 1006~ Ft. Pierce, Florida 33450 . F I ~ ' . • . ' The Property comprises s unit In, to~ether ivith an undivided interest jn tbe common elemenis of, a eondominium project kno+vo as S~'A P~ ~~N7'.Z1K ~ ~ • ' . ' - ~ _ . (b!J't!A --iAnoww~uuu,1 i ujci~'~. - CONDOMINlUM COVFNANTS. In addilioA to the tovenants and agreements made in the securtly instrument~ Borrower a nd Lendu luriblr covenant and agree as lollow~ . ~ . ~/lsscsrmeets. Borrower shall promptly pap. rvben due. a11 assessmenls imposed by the Owners A~s«iation or other goYerninj ~y of the Condominium Project (herein "~wners Associ.alion~j pursus~t to the provisions oi the deelacation. by-la~vt„ Code o! ie~ulstions or ot}~er constituent document o! the Condominium Projetl. - . g~ .}ia~,ard Iniuraaca So Iong as tha Owners Associstioa maintains a"msster' or "btankel" poTicy on the Condominium ~ Project wbicb provides insnrance coverage :gainat P~re, baurds ineiuded withie the term `extended cov~rage." and sucb other h~ vrds as I.endet may require. aad ia suc}i imounts and for sueb periods as I.ender may require. then: ' - Lender waives tht provisioa ~n Uniform Covenant 2 Ior the ~monthly payment to Lender o! onatweUth oJ the premium installmentt for har~rd fnsurance on the Propert~r; . ~ . . . Borrower's obligation undtr U~Jorm Covenant 5 to maint~in haurd insura~rt covetage on the Property is deemed s~tisficd; snd ~ • . (;ii~ the provisions in Unitorm Covenant 5 regarding application of haurd insurance proceeds shall be superseded by an~ ~ro~isions of the declaration, by-laws, code o! regul~tions or olbet constituent document of the Condom~nium Project or of applie nb:e law to the extent necessary !o avoid a contlict belween such provisions snd the provisions Q! Uniform Covenaot 5. For an~ per;od ot time during which sueh ha~ard insurance coversge is not mainl.ained. the immediately preceding sentence sbaU be deemed to hi~e no Jorce or ellecL Borrower shall give Lender prompt notice of any lapse in suc}~ baurd insurance coversge, In the event of a distribution of haurd insurance proceeds in lieu of restoration or repair following a loss to the ProperiJ?. whether W~~e unit or to common elements. any such proceeds payable to Borrower are hereby assig~ed and shall be paid to Ler,drr !or ~pP~'~t~on to tbe sums securcd by the sccurily instrument, wilh the eYCess. if sny, paid to Borrower. C, I,codcr's Prior Conceot, Borrower ahsU no~ excepl a~ter notice to I.e~der and with Lender s prior written consent,~ psriition or subdivide the Ptoperty or cvnsent toc . (i) the abandonment or termination o! the Condominium Projcct~ exccpt for abandonment or termin~tion provided by lnw in the vse o! substantul deslruttion by fire or other n'suatly or in the use of a Lking by condemnalion or eminent domaiq (j~) - any material amendment to tbe dec.t~ra~ion. by-Taws or code of regulations of the Qwners Associ:lion, or equivalcnt consti~uent documenl of the Condominium Projeet, inciuding, but not limited to, any :mendmtni which would changt tbe pet- c~nt~be intcresls of the unit owners in the Condominiurn Projecl; or - (iii) the effeclualion of any decision by Lbe Owners Associaiion to terminate prolessional man~gemenl and assume seU- r~xnagcment of the Condominium Project, ' ` D.. NOTICE. Any nQtice_ from Bozrower. to Lender required in thg Condominium Ridez shall ~e mailed to Lender bv_certified mal~, to Lender's address' stated in .the -Mortgage or at suc a~dress as Lender inay designate to Borrover by certifled mail to the Property Addrese_atat above. AY?Y such notice from Lende; to Borrower shall he g~ven in the manner provided unde Uniform Covenant 14 of the Nortgage. IN ti+1ITNESS WHEREOF, BorroWer has exe~uted s ndo ni m Ri . . r ' . ~ - . J F. McCORMICK . - .-Borrowcr . • ~ • - . - - ~ ,~r, e . ~coxi~ucx -~?~a..« . • ~ - Borrower : • . ' . • • - Bono~.tt f~LEO ~.t~D RECORDEa _ . ^C~i. ~~U~~Z'Y. F' n_. ' ' • • _ . . . . , _ :;;~,rV. ~ . n`.4.59;~ • • . . ~ '•j$ NOV 2 I A,M I 2 3 . . - . . . . . ~ . CL~i~?! ~~i-~~;~' • n k s ~4? ' - . • ~ eocx ~ , . . , ~ . • . ' ~ . . . I ie••~~ ?~t`.•-n~.~~ ~~•r+.,~1~~f /f1... ' ~ r ,.Sr ~ - . . . ~ ~ ~Tf ~ ' ~ e .~..'f'~3~~~' _ . a.