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' . ~ CUNDOMINIU~VI RIDER .
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THlS CONDOMINIUM R1DER Is m~de thL ~ZO d~y o( November . 39 78 . and is incorpor~ted inlo
. nd ahaU be deem4d to amend snd supptement s MortgaYe. Deed o! ~ust or Deed to Secure Debt (herein "security inslrument')
d.trd ot sven ditt hercwitA. ~iven b~? tt?e undersi~ed (hertia "Borrower'~ b secure Borrower's Nole !o
t~AlX~i~N ~ CXX4PANY~ II~IC.. (hereio "I.endet"j and ooverins. t?u propeirt~r dest~ibed In tAe securit~
;,-,=~-•s.~~R! #~d tocsted s~ 3200 North ALA_ Unit 904~ Ft. Pierca~, Florida 3345p .
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The Property comprises ~ unit in. bgether w?Iili sa undivided interest in the eommon elcmenls o!, i eondominium projecl know?n as
SFA P1NF~ ~ ~ • ~ ' - " , ' ~ . " . ; ~benja "CondomJnium ProjetC7.
CONDOMiTI1UM COVF,NANTS. In sddition to the covenants and agreeme~ts made iu lhe securlly instrumen~, Borrowe,r
a nd Lendu lurlber covenant and ~gree as lollow~ ,
A. A~«~~~eots. Borrower shaU prompUy pay. rvhen due. aD assessments imposed by the Owners Association or other
go~ernins body o! the Condominium Projed ~hereia "Owners Association") pursuant to tht provuions of the dedaratioa. by-la~v~„
rode o! reNlsVons or other constitu~nt documeal of the Condomioium ProjeeL
B. H~a ~~urance. So )oag ~s tha Ow~ers A~sociatioa maintains a'mastes" or "blankel' policy on the Condominiunt '
Project wbicb providet Dnsurance coverage against !'~re, bsurds induded within the terrA "extended coverage.' and such other
T~a zards as l.ender may teguire. aad io sucb amounis and for sucb periods as I.ender may require. then: '
~~j I.ender watves the provisioa in Ur.iforn~ Covenset 2!or the~monthiy payment to I.cnder o! ono-tweUlh o! tht
nr~mium installments !ot hazard tnsursnee on the Propertp; . ' .
Borrower's obtigation undet Unuorm t.ovenani 5 io mainuin i,avro ie~swa~,cr cuvrr.~~ o.-, i;a:
rope: t~
u
satisficd; and - .
~iii) the provisions in Unitorm Covenant 5 regsrding app~ic~tion o! havrd insurance proceeds shall bt superseded by any
pr ovisions of the declaration. by-)aws. codt o! regulalions or other constituent ddcument of the Condom~nium Project or of spplio-
ablc law to lhe extent nscessary to avaid a conflict between sucb provisions snd the provisions of Unitorm Covenant 5. For any
period of time during whicb such hazard insurance coverage is not maintained, the immediately preceding sentence shaU be
dcrmcd to h~ve no lorce or etfecl. Borrower shall givt Lender prompl notice of any lapse in such baurd insurance coversge.
In t}~t erent o! a distribution o! hazard insursnce proceeds in litu of restoration or repair lollowing a loss to the Property~
..~~~ether Lo lhe unit or to common elements. any sucb pr«eeds payable Lo Borrower are hereby assigned snd shall be paid to
T,endcr lor ~pP~~ution to the sums secured by the security instrument, with the excess, if aoy~ pa~d to Borrower:
C, I,eoder's Prior Con~ent, Borrower shaU not, e:cept after ~otice to Lender and with I,endtr's priot written consen~~
p~rtition or subdivide the Property or consent toc ; . ' -
i~) tfie sbandonment or terminalion of the Condominium Projett, exccpi !or abandonmenl or termination provided bp
lnw in tbe c~se of substantial deslruetion by fire or other c~'suaity or in the use ot a Lking by condemnation or eminent domain;
- sny malerial amendment to the dec~ara~ion, by-lsws or code otregulations otthe Owners Association, or eguivalen!
co:~stitu~nt document o! the Condominium Projeel, inciuding. but not limiled tor any ameodment which would change ihe per-
c~nt~ge intcrests of the unit owners in the Condominium Project; or -
(iii) the effettuation of any decision by the Owners Associalion io termiaate professional management and assume se1J
m~nagcment of the Condominium ProjeeL ' `
D.• NOTICE. Any pQtice_ from Borzowe~c to Lende~r required in th~ Condominiua Rider shall
b~ ~~~ed ;to Lender bv_certified .mai~, to Lender's address"stated in the•Martgage or at sut
address as Lender may designate to Borro~er by certified mail to the Properiy Addresa.stat
above. Any such notice from Lendet to Borrower shall be g~ven iri the manner provided unde
Unifor~s Covenant 14 of the Hortgage.
IN ~IITTtESS i1NEREOP, BorroWer haa executed this Condominiuoa Ridez.
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