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Home My WebLink About0965 ~ ' : - .C~NDOMIN~UM RIDER - . . , _ _ . , TNIS CONDOMINIUM R1DER is made thts 2pth d~y oI November .1~ 78 • and Ii incorporated inb p nd shail bc deemed b amend and supplcment a Mortgage. Deed ot 7lrust or Deed lo Secure Debt Rherein "securiy instrument"~ daecd ot evsA dite berewltb. tiveo b~? ihe undersi~ned (hereln "Borrow~") to secure Borrower's Note b r5~'~qUG'~~l 1~J~l~GAC.L ~~I~NY~ (hereIa "I.tadet"~ and eoverias.the property deseribed in t}~e securit~ . instrumcnl aod loute~ a~ 32i~. North AIA,. Onit 784, Ft. Pierce, Florida 33450 , ~ . • . • • The Propert~? comprises a unjt ia. bgetfier with ao undivided interestln the wmmon elements of. s condominium projeel kno.vn as SFA PIIJ~S '1'~'~ ~ . . . ~ , • - " ~ , . : (hereia "CondortJnium Projeet'j. CONDOMINIUM COV$NANTS. In addilion to the covenants ~nd agreemenLs made in t}~e securSty fnsirument~ Borrower .nd Lender luritur covenant and sgree as followx _ _ p, /?sse~~meots. Borrower shalt promptlr pa'. w~hen due. a11 a~sessments jmposed b~r tbe Owners Associalion or ot}~er f go~erninj body oltbe Condominium P~aject (hereia'Ownen Associalion"j pursusnt b the provisions a! the dedaration. byla.v~, j code of re~vlaGons or other constituent docume~t o! t}?e Condomieium Projeel. . B. N+~+Td In~urance. So long ss the Owners Assowtioa maintains a"master" or "blanket" policy on the Condominiu~o Project •ybicb provides insurince coverage~sgainst fire, baurds iheludcd within the terra "extended coverage„' snd sucl~ olher ~ ha urds as I.~+~du may reqnire, and ia such amounts and !or sucb periods as I.ender may require~ then: ' ~ ~i) Lender wa3ves the provisioa iu Uniform Covenaut 2!or tbe'monthly payment to Lender of onetweUtb of the ~ n---~~ f..• 1..~~*.1 insursnce on the ProDert]?' ` prem~um insu?,,,,.~:........ . . - , ~ (y) Borrower's obligation under Unilorm Covenant 5 to maintain ha~rd insuran~c coverage on the Property is deemed i satisfrcd; snd ~ ~ . ' ~ liii) lhe provisions in Uniform Covenant S regarding appliniion of haurd insursnc~ proceeds shalt be s.uperseded by any ~rnYis;ons of the declaration, by-laws. code o! regulalions or other conslituent ddcumtnt o! the Condom~nium Project or of applia _ able isw to tbe extent nece~sar~r to avoid a conflict between sucb provisions and the provisions ot Uniform Covenant S. For any pcr~od of time during whith such hazard insurance coverage is not maintained. the immediattly preceding sentente shay be ~ d~~mcd lo h~~e no force ot effect_ Borrowet shalt give Lender prompt notice of any lapse in sucb bazard insar~nct coverage, ~ ln the e~ent o!a distr~ulion o! haurd insurance proceeds in lieu o! resloration or repair to1)owing a Ioss to tbe Properip, ~ w h~ther Lo lhe unil or to common etements. any sucb proceeds payable Lo Borrower are hereb~? assigned snd shal) be paid lo I.endrr tor apPl~~tion to the sums secured by the security instrument, ivith the escess, If any. p~id lo Borrower. ; C, l.coder's Prior Conceo~ Borrower shaD not. except after notice to Lender aed with Lender s prior writlen consent~~ : . . - t. j,artition or.subdivide tbeProperty or consentiac . , . ; (~j the:bandonment or lermination ot the Condominium Projec~ except tor abandonmenl or terminalion provided bp law in the csse o! substanti~) desiruction by Tre or ot}?er u'suallr or in tfie ust of a Lking by condemnation or eminent domain; (;j) - sny msterial amendment to the dec]ara~ion. bylaws or code of regulations o! the Owners Association. or equivalent cor,stituent_document otthe Condominium Projett. including. bul not limited to. any amendment which woutd change ibe per- tr~ti,b~ interests oi the unit owners in the Condominium Projecl; or (iiij the effectualion of any decision by the Owners Association to terminate professional managemenl and assume selt rr:;n~gcment of the Condominium ProjecK. ' ` - i D. NOTICE. Any n,ptice_ from BorroWer. to Lender requited in th~ Conaominium Rider shall ~ be mailed tv .Lender by_certified _mai~. to Lender`s address' stated in the •Hoztgage or at suc~ addre6s es ~nder ~nay desfgnate to BorroWer by certified mail to the Property Addresa .atat~E zb~ve~ Any such notice frop? Lendet to Borrowe= shall be g~ven in the manner provided undes ~niform Covenant 14 of the Nortgage. _ } 7N ~,1ITNESS WHEREOF, Borrower has executed is ndomini idet. f . - l r ' . . J PENELLO ' -Bortowet ' . t - ~ - ~ ; noxis : P~t.I.o -s~ROwu . ~ ' } . , - Borro..e~ ~ : , ~~`EO ~~1D RE~CORDED= i ~ ' `~'~~r~ ~~JUPJTY ~1 ~t . • . -Bortowtl , - ~.t.:,~^.r_~,` - . - • - ,r • ,l8 N ~%~'~fin~ • - - • - _ . . . ~ Z'~ ~ I~ : 24 ~ . : _ ~ ' ' . . . ct ~Fi~'•~,~~~:,.~ - t- - . . . a~~ K 298 Pa~ " ~65 . . ~ . . ~ ~ . . . •r . _ . r ...~t~ ~r~ ••~.r~•r`~+~I 1~~~^r~.~tf~r?~ . T /P.~• 1 /l~) ~