HomeMy WebLinkAbout0125 ~ ~ CONDOMINIUM RIDER ~
~ ~ . .
. . - ~
THIS CONDOMINIUM R1DER Is made tbis z2 d~y af January .1979 . and L incorporated into
s ~d shaq be deem4d b amend and supplement a Morigage. Deed oI 7~ust or Deed to Secure Debl ()iereia `seeurjty jnstrument'~
dated of evea date berewilh. tivea b~? tbe undersi~oed (hereta "Borrower") to secure Borrower's Note to
MaCAUC~~N MJ~T aYRP~~lNY~ II~C. (bereio "I.ender') aod coveriat.the property descr~'bed ia tl~e aecur~ty
inslrument apo located at 3200 rio~'th A1~1~ ifi~t No. 906 i Ft. Pie~e~ Flar'~da . 33450 ,
t . ~ . . ~
The Property comprjses ~ unit in. together whb an undivided interest ia t?ie common elements of. a condominium project know~a u
SF~ PINES Za4~t ~CY~JILI?i ' • . , - _ . . . (lierein "Condominium ProjecC').
CONDOMiNIUM COVF,NANTS. Ia addilion to the oovenanta and sgreements msde in the securit~? instrumea~ Horrower
$ nd L.ender furiher covenant and agree as lollowx
A. Assei~me~~ ~~ower shaU prompUy pa~r, w+hea due. i11 assessmenls imposed by the Ownera A~sociation ot othv
go~erning body of the Condominium Projee! (herein "Owaers Aasociation'~ pursuant to the provisions o! the dcclaratan. byfa.vs~ ,
cods of re~ulations or otber constituent document af the Condominium Projed.
g, }ias,ard lnsuraace. So long as tbe Owners Assoe3ation maintaina a"master' or "b)ankeC' policy on the Condomiaiuro .
Praject wbicb pmvides insurance eoverag,e~against fire. baurds induded within the term "eatended coverage." and sueb otber
h~ ~ rds as Lender may require. and ia such imounts and tor such periods as Lender mar require. thcn: ~
(ij Lender waivrs tbe provuioa in Uniform Oovenant 2!or the~monthly payment to Lender o! one-twelfth o! the ~
premium installments for harard insurance on the Propertp; .
Borrower's obligatioa under Uniform Covenant 5 to mainlain banrd insurance coverage on the Property is deemed
~atisGcd; and - .
(iii~ the provisions in Uniform Covenant 5 regarding application oi haurd insurance proceeds shall be superseded by any
~roYisions of the detlaration.~by-laws, code o! regulations or other eonstituent document of tbe Condom~nium Project or of app]io-
~ble law to the exteat necessary to svoid : contlict between auch provisions and the provisions Qt Uniform Covenant 5. For an~
~er;od ol time during which such haurd insurance covertge is not maintained, the immediately preceding senlence ahall be
jcemed to have no force or eftett_ Borrower shall give I.ender prompt notice o! any lapse in such haurd insurance coverage.
In the event of a distribution o! ha=ard insurance proceeds in lieu o! restoration or repair lollowing a loss to the Property.
~ hether to the unit or to common elements. any such proceeds payable Lo Borrower are hereby assigned and shall b~ paid to ~
,~r,dcr for applinlion to the sums secured by the security instrument, with the excess, if any. paid to Borrower.
1,eoder
s Prior Conseai. Borrower aba11 nol. except afler notice to I.e~der and with Lendv's prior written consent,.
~ a r t i tion or subdivide lhe Property or consent ta
(i) the abandonment or termination of the Condominium Projec~ except Jor abandonment or termination provided by •
3.:• i n the ose o! subslantial deslruction by fire or other caiualty or in the c~se of a Lking by condemnation or eminent domaia;
(ii) - zny materii) amcndment to the decl~ra~ion. by-laws or code otregnlations ottbe Owners Association, or equivalcnt
o~,st~tuent document of the Condominium Project, including, but nol limited to. sny amendment which would change the per-
entabe intcrests ot the unit owners in the Condomininm Projeet; ot -
(iiij the effectuation of any decision by the Owners Association to terminate professional managemenl and assume seU
' ;anaRcment of the Condominium Project. •
! D. NOTICE. Any notice_from Borrover- to Lender required in the Condominium Rider shall _
u:ailed to Lender by_certified mail. to Lendet's address' stated in the -Mortgage or at such
~'dress as Lender may designate to BorroWei by certified mail to the Property Addrese.stated
,~ye. /~ny such not~ce fram I.ender to Borrower shall be given in the manner provided under
~,ifozrc Covenant 14 of the Mortgage. - ,
~ IN ~TITNESS WHEREOF, Borrover has executed t C aomi um Rider.
~ - -
f .
E ' ~ - . H~i -Borrower ~
~ - - ' •
~ • •
~ ' .
€
- BOTfowtl
~
~ • • ' • .
F
~ • , - BOt7owef-
~
i
y ~ . .
> ' " -Botrow~~
q . • -
t . .
~
~ F'~ cG ~+~i~ ~ECORDED " ' • • - - - .
> . t,,,,.~ ..rur1TY, c~~ ~ - ~
~ : i ~ .
431614 ~ ~
. . ~
~ • ' ~ '~g ~E""! 2 3 AM 9 : 0 4 . .
~
~ .
~ • . - - .
i r! ~i;~: ;~~;:;rc i
Y ~
."s
, ' ~ . QD~K ~
. . .
~ , . ' _1
, . • < , , ~ r, ...n~ t ~f --T'T:T•i' /1'1i1.1.!(: tI1:If'(~R1.S I~,STR1tj•!FN? (~~v l/1A
~ ~ . ~ry - ; ~ - ~ .
~ ~ r~ _ Y
~ ~ _