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Home My WebLink About0341 • . f 1 • ~ . 1 RIRST I=EDERAL SAVINGS AND LOAN ASSOCIATION ~ OF P~ORT PIERCB ~ CONDOMINIUM RIDER THIS CONDOMINIUM RIDER Is mad¢ this . . . . ~~h . . . . . . . . . . day of . . . ~V~cnbor ~ ~ 19 .78 and is incorporated into and shaN be deemed to amend and supplement a Mortgag¢, Deed of Trust or Deed to Secure Debt (herein "security instntm¢nt") dated of ev~n date hereurith, gfven by the undersigned (herein "Borrower") to secure Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF ~ FORT PIERCE (herein "Lender"~ and goverir~iQ Ce op~dyO~d¢scribed in the security insfirumenf and located at . 2400 S~ .OCe~?n . X! ~ . Ft • . . . . : . ~ _ Fl ~81 . . . . . . . . . . . . . . . . . . . . . . ~?.oo.eer ~ae~su The Property comprises a unit in, t her with an undivided interest in the common elemeMs of, a condominium pro)ect known as . . . . . . .~#?N~I~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~ nw~. a co~eo~ wow~n ~ . . . . _ . . . . . (herein "Condominium F'roject"). ~ CONDOMINIUM COVENAIV'fS. In additbn to the covenants and agreements made in the security instrument, ~ Borrower and Lend¢r further cov¢nant and agree as follows: A. l~ssessments. Borrower shall promptly pay, when due, all assessm¢nts imposed by the Owners ~ Association or other gov¢ming body of the Condominium Project (herein "Owners Association'~ pursuant to the ~ provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium Proiect. B. Hazard Insurance. So bng as the Ownecs Associatlon maintains a"master' or "blanket" policy on the Condominfum ~ Proj¢ct which provides inwrance coverage against fire. hazards inctuded within the term "ext¢nded ; coverage," and such other hazards as Lender may require, and in such amounts ana ior such ~ periods as Lender may requtre, then: ~ (fi Lender wafves the provision in .Uniform Covenant 2 for the montlily payment to Lender of one- ~ - twelfth of the premium instaliments for hazard insurance on the Property: (ii) Borrow~r's obligatk~n under Unifam Cov¢nant 5 to maintain hazard insurance coverage on the ' i Property is deemed satisfied; and - (iii) the provisions in Uniform Covenant 5 regarding application of hazard insuranc¢ proc¢¢ds i shaU b¢ superseded by any _ provisions of the declaration, by-laws, code ot regulatlons or other constituent ; document of the Condominium Piroject or of appikable law to the extent necessary to avoid a conflkt between. such provis~ons and the provisions of Uniform Covenent 5. For any perfod of tim¢ dudng which such hazard insurance coverage is not maintained, the immediately preceding sentence - shall be deemed to have ~ no force or ¢Hect. Borrower shall gtve Lender prompt notke of any lapse in such hazard insurance coverage. }t [n the. ev¢nt of a disMbutlon of hazard insurance- proceeds in lieu of rQStoratfon or r¢pnir following a bss to # the Pro whether to the unit or to cammon elements. an such ~ ! Pe~S?. y proc¢eds payable to Borrower are h¢reby ~ assigned and shall be paid to Lender for application to the sums secured by the security instrument, •with the ~ excess, if any, paid to Borrower_ ~ f C. Lender's Prior Consent. Borrower shall not, except aher notke to. Lender and with Lender's prior ~ written consent, partitbn or subdivide the Ptoperty or consent ta ~ (1) the abandonment or termination of the Condoroinium Project, except for abandonment or ~ termination provided by law in the case of substantial destruction by fire or other casuahy or in the case of a taking by condemnatlon or eminenf domain; (fi) any material amendment to the declaration, by-laws or code of regulations of the Owners ~ Assoctation, or equivalent constituent document of the Condom~nium Project, including, but not limited to, any amendment whkh would change the percentage interests of ihe unit own¢rs in the Condominium Project or (iii) the effectuatlon of any dedsion by th¢ Owners Association to terminate professiona) management and assume self-managemenf ot Ihe Condominium Profect. D. Remedies. If Borrower breaches Botrower's covenanb and agreements hereunder. intluding the { covenant to pay when due condominium assessmenU. then Lender may invoke any remedies provided ' ~ > under the security instrument, including. but not timited to. those provided under Uniform Covenant 7. ~ IN WITNESS WHEREOF, ~er has executed this Condominium Rider. ~t ~ PcCO~~ . _ ~ F~~ ED n41~J ,~Vr~.~YrFI.A- - ~ `L-. ~ ` =~5 s ~ ~ ~ ~ ' . 4 i . ~ C xug . eron -e«.~ ~ ~ ~ a ~~a oL~ p~ ~ - °r - rances . eron -eo,.,w., ~ . • _ . ~ CONDOMINIUM I~~ f t rt9, ~y-81i5~ ~ FNMA/FHLMC UNIFORM INSTRUM~NT • • ~ . ~ ~ 9 ~ ~ ;~~9 3 r ~ Fo~ zso ~ ~ ~ ~ . , , : , _ ~ - - _ , ..y : . _ _z~