HomeMy WebLinkAbout0174 . - ~ : ~ CC~NDOMINIUM RIDER ~ ;
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THIS CONDOMINIUM RIDER [s made thL 17th day ot Novembar .1'~ 78 . snd 4 incorporated jnto
, ~d shiU be detm~d to ame~d snd supplement a Mort~age. Deed ot ~usl ot Dced ta Secure Debt (hereip "security lnstrumenl')
d.t~d of sven date he~eMrltb. siven by th~ undersi~ed (hereta "Horrower'j b setun Borroweis Nots to .
~C~~N ~ C~3P~1NY~ II~1C.• (herele "I.ender"'~ sod coverias.the propert~ dese~ibed io the accuriy
in:trumeAt iod lotal~ed at 3200 No1th AlA~ .Uu3t 602~ Ft. Pieres, Florida 33450 .
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Thr Propcrty comprfses a anit in. together w?ft?i aa undivided inte~st jn tbe eommon tlements of. a eondominium project kno.vn as
SFA P~ Z~ ~ ~ ~ . ' • " ~ . . ~ , : ~eretu "Condominium Projett"~. ~
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CONDOMWIUM COYENANTS, In additioa to the covenants and sgreements made in the securfty insirument, Borrower
a na l.endu luttl?eT covenant snd sgree as foTlow~ . .
~/i?ssei~ments. Borrower sbaU promptlp pay. ~?beo due. ail a~sessments jmpased b~? the Owners Assocjation or other ~
gorerninj bo~1y otthe Condotnl~ra Projeel ~erein "OwAers Associatioo'~ purswnt to tl~e provasiotu o! the deelaration. bytaa;
code of retulstions °r °t}~er ~°nsUtuent doeumeat e~ the Condamin3um Projtd. -
B. H~+~*a i°"'r`°~°' So lona as tbe Owners Aasocistion maintsins a`master~ or "bbnket" poliey on the Condominiurs ,
Project wbicli Pr°r~du;"suraaee coverag,e~aaainst Tir~. bsurds ieduded witbin the ternn "extendcd coverage.' and sueh ot}~a
h~ ~rds ss Lender rnay requira snd ia sucli amouats and for sucli perjods as Leader may require. thea -
- ~p I,~nder wdva tbe provisioa iu Unifon~a Oovenaat 2!or the~monthly payment to Lender of one-twelflb of ths
pre mium iostsiiments for ~asard insurai~ce on the Propertp; _ . . : .
~~'j Borrower's obligstion under Untform Covensnt 5 to mainLain hasard insursnce coverage on the Property is deemed
satisGcd; and '
~~;~j ihe provisions in Ueitorm Covenant 5 rtgarding spplic~tion ot ha~rd insurance proceeds shall be superseded by anJr ~
pro~is+ons of ihr declsration. bylaws. code o! regulations w other constituent ddcument ot lhe Condom~nium Projeet or of applia ~
abte Tsw to the extent necessary to:void s conflict between su~b provisions snd the provjsions Qf Unitorm Covenant S. For any ~
per;od oJ tim~ during wbicb such hazard insurance coverage is not maintained. the imrnediatety preceding sentence sha11 be 7
dremcd io ha~e no force or etieet_ BorroWer shall give Lendet prompt notice of any iapse in such baurd fnsurance coverag~ _
In thc event o! a distribution oi haurd insurance proceeds in ?ieu of restoration or repsir lollowin~ a loss to ibE Property ;
K~hethcr to lh~ unit or to common elemenis. any sutl? proceeds payabie b Borrower are hereby assigned aod sball be psid to }
Iic~tion to ihe sums sccured by the security instrumenf, with the e:eess, if any. paid to Borrower. ~
I.rndcr for aPP .
C, ],~ader
s Prior Consent» Borrower shaU not, excepi after notice to Lender snd witb Lender
s prior written consenl..
partition or subdivide ihe Property or consent tac ' _ -
~i) - ihe sbandonment or termination o! the Condominium Projeet„ except tor abandonmeni !s~mination provided by
law in the r~se of substantul destruction bp lare or other c~'sua)ly or in the case o~ a Lking by condem~ation or eminent domaia
(~j) - any materia) amendmenl to ihe declars~ion. by-laws or code otr.egulstions oithe Ownen Associstion. or equivalent
constituent documeot ot the Condominium Projeci. including. bvl not ~imil,ed tq. any amendment wbech would cbange the per-
cer,tage interests at the unit owners in tbe Condominium Ptoject; oe •
the eftettuation o! sn~? decision by the Owners Associalion lo terminate professional managemenl snd assume seU
m~nagcmcnt oi tbe Condominium Projeet ' ' ~
D.. NOT~CE• ~y n.Qtice_ from Borrowe= t-o Lender required in ~h~ Condominium Rider shall
be mailed to Lender by_certified .mai~. to Lepderls address''stated in the •Hoztgage or at suc
address as ~nder may designate to Borrower by certi#ied mail to the Property Address.etat
abov~. I~Y such not~ce from Lendei to Borrover shall•be g~vea in the manner prvvided unde
~7niforss Covenant 14 of the Mortgage.
YN uITNESS ~+1HEREOF, BorroWeY hae eicecuted thi ~ minium de . _
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• • . . , WILLIAM . OOIC . . ' • = BorroMu
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. t -BorroMer .
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~ ~ , - $orro.er
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FILEO Ari~ ~ECOROED~ - ' ~
CT, ~ U~tE ~~"'Ut:TY. FLA. . _ . .
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'I8 O~C 4 PM ~ 2: 0~ ' RETURN 10:
. K~dd Tttle Compunu
~ . • ~ 609 DUDbNT PLAZA CENfi~t~
" ' ~ ' MIAMI, FLORIDA, 3313/
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