HomeMy WebLinkAbout0024 ~'~~~A~~~~~. SAYINGS ANa L4AN ASSOCIATION
ST, LUCiE COUNTY, FLA. OF FORT PIERCE
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, <T""'`~ ' 05-~23039397 .
78 O~C ! PM : 02 .
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:;'~:~`:.,-~l~~-:.:-~O~'DOMINIUM RIDER
GL.ERK CIRCJ!T C~U ,T ~
TNIS COtiDOMIViI)M R1DER is made this. . . . . , . . . . . . . . . . . . . . .day of. . . . .~.OCtobsr • • • • • • • • • • •
19.78., and is inrorporated into and shall be deemed to amcnd and supplemcnt a ll~art~uee, Deed of ?rust or D~ed
to Secure Debt (herein °securit~~ instrument") dated of evcn date hLr~K•ith, given by the undersigned (herein
"Borrower") to ~ecure Sorrc?vvcr's Note ta. . . . . . F'IRST .FEDERAL .SAVINGS. AND .LOAN. ASSOCI9TIDR .OF . .
...,.FORT. P~$RC~l . herein "l.endei') and co~•ering the Pro ny ~s~c
y'bcd in the security instrument and
locaccd ac. . . . . ~0044 Sou~.~-I-A~. Jetnsen_ HeaOh~ Floric~s . . .~3457 . . . . . . . . . . . . . . . . . . . . . . . . . .
(V~opeAy Add~ess) ~
The Property comprises a unit ~in,~ t~o~eether. v~•ith an undivided in~ercst in the common elements of, a condominium
project know~n as. . . . . . . . wTI.AHTi3, OCINDOMIIiIUlI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
,
(Nsme of Condomlmum Projett)
. . . . . . . . . . . . . . . . (herein'•Condominium Project").
Cp`tao~ll*rluM COVENAhTS. In addi:ion to the covenants and a~re~ments made in the <<•curit~• instrument,
Aorruw~~r and Lendcr further covenant and a,rec a~ ioilow~s:
A. ~~srscments. BorroK~er shall promptl~• paw w•i~en duc, all a~ccltments imFx~sed b~~ the Ou~ncr~ AsccRiation
ar othrr gove*nin€ bc~d~~ of the Condominium Project (herein "OH-ners Asso;iation") pursuant to lhe pro~i5ion~ of the
de:laration, b~~-taws, cade of re~ui~tians or other cc?nctiwent dacument of the Condominium Pro}ecL ~
B. fiazard In.curanee. Sa lono ac the OH~ers As~c.~iation maintains ~"macter" or "blankct" ~lie~ on the
Condominium Pmjeet which provi~es insurance coverage against,fire, hazards ineluded w~ithin the term "extended
coti•~rage; ' and suth other hazards as Lender ma~• reyuire, and in such am~unts and for such perialc as Lender ma}~ _
rcquire, thcn: ,
(i) Lendcr waives the prrn~ision in Uniform Covenant 2 for the monthh• pa~ment ta Lrnder of one-tweifth
of thc prcmium inctallmcnts for hazard insurencc on the Propcrt}•;
(ii) B~rrower's .obligati.on under Uniform Co~•enant 5 to maintain hazard inwrance coverage on the
Propcrt~• is dccmed catisficd; and
(iii) the pro~•isi~ns in Unif~rm Cc?~•rnani 5 rc~arding ap~lication of hazard in~urancc prcRC~ds shall bc
wperscded b~• ant• provisinrts of the declaration. b}-laws. cc~de oS rerulations ot other constituent document of the
Cc~ndc+minium Projeet ar of applicahle law• to th: extent necrt~arti tc~ avoid a conflict tktueen such pro~~isions and
the proti•isicros of Uniform Co~~cnam 5_ For an~~ pericid of timc during ~hich cuch hazard insurance co~~~raee is not ,
maintained, the immedistcl~ preceding scn~ence shal! be deemcd tc? ~a~e nc~ farce or eflect. Aorrower shall gi~~e
, Lcndcr prompt notice of am• lapcc in such hazard inturancc crn~rragc.
]n the event at a distribution oi hazard insuranee prc~ceeds in iieu of restoration or repair folloa~ing a loss to
the Propen}•, v?~het~cr to thc unit or to common etcmcnts, am~ such procccds payable to Borrower are hercb~~ assi~ned
and ~hall be paid to L.endcr for application to the sums cccured br the cecurity instrument, with the excecs. if am.
paid to Borrowcr. . .
C. t.enders Prior Con~cnt. Bormwer shall not, except atter n~tice to Lender and u•ith Lender'~ prior uritien
concent, panition or cuL~divide the Propert~~ t~r c~nsent to:
(i) the abandonment or tcrminati~n of the Conduminium Project. exccpt for ahandonment or trrminaticm
provided by law in the case of subs:antial d~structi~n b~• fire or ~ther ca~ualty or in the cace of a tai:ing b~ candemnaeion
or cmincnt dc,main;
(iij an~ material amcndment to the declaration. h}~-tau•s or ccaie of regu'ati.~ns of the O«~ncrs A~sc?cia~:~~n.
or ryi~i~•alcnt coristiwtnt documcnt ot thc Con~ominium Projrct. inclu~~n~, hut not limited to, an~~ amcndmcnt t~hich
v?ould change the percentaee imerests of the unit o~ ners in thr Condominium Project; or
(iii) the eftectuation of any dPCision b~~ ihe Ou•ners Association to terminate professional mana~ement and
- a~sumr self-manaeement of t~?e Condominium Praject_
D. Rrmrd~r~ If fturruwer brrachcs fle~rroNrr's co~enants and a~reemersls hrrrundtr, including the cc?~rnant
to Nhrn dur cund~?minium a~~e.cmenls. then l.endet ma~ in.u{.e snv remedirs pr~~~idrd under fhe ~eci:rit~
in~wmrM. including. hul_not limiled tu. thu~e pru~ided under l'nifurm Cu.enant 7.
I. V?'IT~ESS Vl'}{EREOF, Borrowrr hac ex~cuted this Condc?minium Rider. _
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' ~j _ ~ ~ CLERK 1 C1lIT CONRT
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