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Home My WebLink About0050 F1RST FEDERAL SAVINGS AND LOAN ASSOCIATION OF' FORT PIERCE a CONDOMINIUM RIDER ° , } THIS CONDOMtNIUM RIDER is made this . . . . . . .?~d•. . . . . . . . day of . . . .J8ilu8~, . . _ . . 19 79. and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of T~ust or Deed to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned (herein "Borrower") to secure Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATiON OF ; FORT PIERCE (herein "lender") and covering the Property described in the security inshument and located at . .1.1.8.1. .Ce.x`~tOt7l . CQUr:t~. FQY`t . P14z!ce.s. T''~oI`~dfl~ . .3.3.~50. : . . . . . . . . . . . . ' 1PropKty AOM~ss? 0 The Properry comprises a unit in, together with an undivided interest in the common elements of, a condominium ; project known as . . . . CQ LRNI~IAD.E,S . . . . . . . . . . . . . . : . . . . . . . . . . . . . . . . . . . . . . . . . . : fNarM a Co~WOn+iewm ~oNctt . . . _ . . . . . . (herein "Condominium F'roject"). CONDOMiNIUM COVENAIVTS. In addition to the covenants and agreements made in the security instrument, Borrower and l.ender further covenant and agree as follows: A. Assessments. Borrawer shall promptly pay, when due, all. assessments imposed by the Ownen Association or other goveming body of the Condominium Project (herein "Owners Association") pursuant to the provisions of the declaratton, by-laws, code of regulations or other constituent document of the Condominium Proiect. ~ B. Hazard Insurance. So long as the Owners Association maintains a"master" or "blanket" policy on the Condominium Project which provides insurance coverage against fire, hazards included within the term "extended coverage." and such other hazards as Lender may require. and in such amounts and for s~ch ~ ~ periods as Lender may require, then: (i) Lender waives the provision in Uniform Covenant 2 foT the monthly payment to Lender of one- twelfth of the premium installments for hazard insurance on the Property: , (ii) Borrower's obligation under Uniform Covenant 5. to maintain hazard insurance coverage on the Property is deemed satisfied: and (iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shaii be superseded by any provisions of the dedaration, 6y-laws, code of regulations or other constituent document of the Condominium P:oject or of applicable law to the extent necessary to avoid a conflict between such provisions and the provisions of Uniform Covenant 5. For any period of time during which such hazard insurance : coverage is not maintained, the immediately preceding sentence shall be deemed to have no torce or effect. Borrower shali give Lender prompt notice of any lapse in such hazard insurance coverage. In the ev¢nt of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to j the Property, whether to the unit or to common elements. any such proceeds payable to Borrower are hereby ; 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_ ~ C. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent, partition or subdivide the Property or consent to: € (i) the a~bandonment or termination of the Condominium Project, except for abandonment or ~ termination provided by law in the case of substantia) destruction by fire or other casualty or in the case of a j taking by condemnation or eminent domain; g (ii) any material amendment to tbe declaration, by-laws or code of regulations of the Owners ~ Association, or equivalent constituent document o# the Condominium Project, including, bui not limited to, any ~ amendment which would change the percentage interests of the unit owners in the Condominium Project; or ~ (iii) the eKectuation of any decision by the Owners Association to terminate professional management ~ and assume self-management of the Condominium Proj¢ct. _ ~ D. Remedies. If Borrower breaches Borrower's covenants and agreements hereunder. including the ~ covenant to pay whe~ due condominium assessments. then Lender may invoke any remedies provided ~ under the security instrument. including. but not limited to, those provided under Uniform Covenant 7. ~ IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. ~ ~ ~'~EO^A~7II R~CORDED - = 'c :GUNTY. F~l.. ~ . . _ _ ~ c e ns -~..~»r 4~'~34 . - : ~ ~~9 ~~i=~ 4 PM ~ • 29 ,6- - . ~ /J 0 e • Y1S -BO~rOwN . J " _ ' , ~ ;~3 CONDOMINIUM RID~~-.~~,~0 4~FdtrKiy-6~75-fNA~p1fHLMC UNIfORlN WSTRUMENT ~ ~ _ . ~ ~ goa~ 301 50 - ~ form 250 a= ~ , ~ , _ - - ~ ~ ~ ~ ~--r'"''~.~ ~a, x-" , ~ i ~ .,c ~ _ ~ - ft~' . . . . _ . . - - _ , . ..a..~.r.~,... . ~ , -