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HomeMy WebLinkAbout1299 CONDUMIN lU M K,11~.~.~ THiS CONDOMINIUM RIDER is made this Z~ day of December .1S 78 .and is incorporated inb nd shall be deemed to amcad and supplement s Mortgage. Deed of 7~ust or Deed to Secure Debt (herein "security instrument') d~txd of even date herewith. given by the undersigned Therein "Borrower'? to secure Borrowers Note to bY~CAL)C~~N ~ t3QtiP1lNY, INC. Thereto "Leader'? and eoverinr.the property deaeribed in the security instrument and located at X200 l~brth 1t].A, Utzit No. 608 , Ft. Pi,eree, Florida = 33450 r 'Th a Property comprises a unit in. together with ao undivided interest in the common elements of. a condominium project known as SFA PILAF-S ' QOl~IDOi~JIiI~1 _ : Therein "Condominium Project"). . - CONDOMINIUM COV$NANTS. In addition to the covenants and agreements made in the security instrument, Borrower : nd Lender further covenant and agree as follows` ~ - A, Ascuament.s. Borrower shall promptly pay. w?hea due. all assessments imposed by the Owners Association or other governing body of the Condominium Project. Therein "Owners Assoriation'3 pursuant to the provisions of the declaratioq by-laws. ' code of regulations or other constituent document of the Condominium Project B. H•r~ Insurance' So long as the Owners Association maintains a "master' or "blanket" policy on the Condominium Project which provides insurance. eoverage•against fire. hazards inducted within the term "extended coverage." and such other haurds as bender may require. and in such imounts and for such periods as Lender may require. then: .S li) bender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one-twelfth of the premium installments for hazard insurance on the Property: Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied; and (iiil the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any provisions of the declaration. by-laws. code of regulations or other constituent document of the Condominium Psojeet or of applies a hie )a w to the extent necessary to avoid a conflict between such provisions and the provisions Qt Uniform Covenant 5. For any period of time during which such hazard insurance coverage is not maintained. the immediately preceding sentence shah be ; deemed to have no force or effect. Borrower shall give Lender prompt notice of any ]apse in such hazard insurance coverage. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the Property. whether to the unit or to common elements. any such proceeds payable to Borrower are hereby assigned and shall be paid to bender for application to the sums secured by the security instrument. with the excess. J any. paid to Borrower. C. lender s Prior Content. Borrower shall not, except after notice to Lender and with Lender s prior written consent.. partition or subdivide the Property or consent to: li) .the abandonment or termination of the Condominium Project. except !or abandonment or termination provided by 1 a yr in the pse o! substantul destruction by fire or other usually or in the case of a taking by condemnation or eminent domain; lit) =any material amendment to the dedarat}ioq by-laws or code of regulations of the Owners Association. or equivalent constituent document of the Condominium Project, including, but not limited to. any amendment which would change the per- cenW6e interests o! the unit owners in the Condominium Project; or (iii) the efletluation of any decision by the Owners Association to terminate professional management and assume seU- managcment of the Condominium Project. ~I D. NOTICE. Any notice from Borrower- to Lender required in th~Condominium Rider shall _ ~i,e mailed to Lender by_certified mail_ to Lender's address'stated in the-Mortgage or at such ~~:ddress as Lender may designate to Borrower by certified mail to the Property Address stated above. AnY such notice from Lender to Borrower shall be given in the manner provided under tiniform Covenant 14 of the Mortgage. - ZN WITNESS WHEREOF, Borrower has executed this Condominium Rider. _ a-~ ~ ~ _ _-Borrower _ / -Borrower • ~ jt -Borrower _ ~ a/~ -Borrower - MARY ROS HAiJ . F$ • . . • ' - - ~ c r::1 - ECOppEL \ . - _ 4304'78 . ,9 f~ ~ ~ PM 3:34 ` R - E 294 . - ~t~.~301:.1 ~ ~ ! 1'r ~•~11v•-~nr,-F'NT•!A/t'lit,itlC UNIF'(1RM IN~TRi16lENT (nrv ln~ _ ~ -