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Home My WebLink About0616 11- 3581 /tJfST . CONDOMINIUM RIDER THIS CONDOMINIUM RIDER is made this ~ 9~ da~? ot ~ ,19 aad is incorporated iato ~ and ahall be deemed Lo amend end suppkmeat a MoKgage. Deed o[ TrusCor•Ll~ued to 9feeure Debt (herein "eecurity instrument") dated ot evea date herewith, give,p by We undersigaed (henia "Borrower") to aecure Borrower's Note to FIRST FEDERAL SAYINGS AND LOAN ASSOCIATION OF MIAMI (Aereia "Lender") and oovering the ptoperty deseribed ia the security instrume~t and loc:ted at ~yIT 906~ :04~1Q A1A JENSEN BEACH. F~ORIGA The Property comprisea a uait in. ~OgCtIlBT N11J1 i~ ilOlllVl~ IOtETCS~ IQ LIIC tOt11Q10~ lICIII@[1~8 Oj. i COGdO[AlIIIUQI pTOjBCt I[110W11 aS FiUTCHINSt1N~I5LAtiD CLUB+ A CONDOMINIUM (hercin"CoAdominiumProject"1. CONDOMINIUM COVENANTS. In addilioa to the covenanls and agreemeals made in the security instrument, Borrower and l,e~der turther covenant aad agree as follows: . ~ . A. Asre~meats. Borrower ahaU prnmptly pay. v?hen due. ap assessmeats imposed by the Owaers Association or other governing body ot the Condominium Project (hereia "Owners Association") pursuant to the provisioas of the declaration. by-Iaws, code ot reguMtiona or other rnnstituent doeument oi the Condominium Projett~ ' B. Hazard Inwrance. So loag as the Owners Association maintaina a"master" ot "blaaket" policy on the Condominium Projeet which pwvides insurance rnverage against fire, hazards ineluded withia the term "extended rnverage." and such other hazards as Lender may require. aad in such amounts and for'such periods as L.ender may require. then: . (i) Le~der waives the provision in Uniform Covenant 2 for the monthly paymeat to l.ender of one-twelith o[ the premium installments for hazard insurance on the Property; . (ii) Borrower s obligalion under Unitorm Covenant 5 to maintain haTard insurance coverage on the Property is deemed satis[ied; ~and iiii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any provisions ut the declaration. by-laws. code of regulations or other constituent document o[ the Condomiaium Projecl or oi applic- - able law to the extent necessary to avad a eonflict between such provisions and the pmvisions of Uaitorm Covenant 5. For any period of time during which such hazard insurance rnverage is not maintained. the immediately preceding sentence shall be deemed to have no force or elfecf~ Bonower shaU give Lender prompt aotice o[ any lapse in such haurd iosuraace coverage. In the event o[ a distribution ot hazard iasurance proceeds in lieu oi 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 l.ender for application to the sums secured by the security instrumeat, with the excess, if aay. paid to Borrower. C. I.ender e Prior Conseat. Borrower shall not, excepE after notice to Lender and with I.ender s prior written consent. partition or subdivide the Property or consent ta ~ Ii) the abandonment or lermination of the Condominium Project, e:cept for abandonment or termination provided by law• in the case o( substantial destruction b} fire or other casualty or in the case of a taking by condem»ation or eminent domain: . I ii1 an} material amendment to the declaration, by-laws or code of regulations of the Owners Association, or equivaleot constituent document ot the Condominium Project, including, but not iimited ta any amendment which would change the per- centage interesLs of the unit oMCners in the Condominium Project; or t iii) the e[fectuation ot any decision by the Owners Association to terminate protessianal management and assume self- manageme~t of the Coadominium Project. . _ D. Rcmedies. lt Borrower breaches Borrower's coyeaante and aareements hereunder. indudina the eovenant to pay whea due coodominium assessmeots, then l.eoder may iovolce any remedies provided under the seeurity instrument. including, bat not E limited to. t6ose provided under Unitnr~ Ceveaant 7. ~ _ ~ IN WITNES3 WHEREOF, Borrower has executed this Condominium Rider. I ` ~ ~ rrower PAME I. S ~ Q~„c~? - ~ • _t~ :,:':J %i~COROEC - -Bcsrrovrer _ . _ ":'~•~J'! ~ F! MAR: A?'?~ ~ ^ ~ . . T , - E3orrower ~ 4~;'~899 ~A~~B~~L SMI - . ~ ' (9 ` l 5 P~1 2 : 35 ~ . - Borrower • .A IBAt~~Z ~ _ ~ • . ~ . . - - Borrower ~ ~ . : - Borrower i ~ ~ ~ ~ t ~ ~ ~ ~ g~tiY 3~~2 t~~rE 616 E ~ CONDOA'I[NIUM RIDER-1 to 9 Family-6/75-FNMA/FNLMC UNIFORb1 INSTRUMENT (Rev 1/76) g ~ i ~ - - _ ~ ,~,s: ~,s~ w~, < -z,,;;~ ~ ; ~~r ~~~e ~ ~ ~1 ra~~ _~"`tj Y ~ . ~ ~ ~ . . . _