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Home My WebLink About1011 FIRST FEDERAL SAVINGS AND LOAN ASSOCI/hT10N OF FORT PIERCE ~ CONDOMINIUM RIDER , i _ ~ • . . E THIS CONDOMINIUM RIDER is made this . . . . . ~th • • • . • • • - . - day of . . . _ Feblrudl^y , 19 ..79., and is incorporated into and shall be deemed to amend and suppiem¢nt a Mortgage. Deed of Trust or Deed to Secure Debt (herein "security inshument") dated of even date herewith, given by the undersigned (herein "Borrower') to secure Borrower's Note to FlRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE (herein "Lender") and coverin the Rropercy described in the securiry inshument and located at . . . . . . . . . . . . . . . . . 24.OQ .S... ~~ean .Dr.iYe.,. F~._ Pierce,. Florida 33450. . . . . . . . ,o.o~«h nea..., - Th¢ property comprises a unit in, together v~tith ~l ~t m the common el¢ments of, a condominium project known as . . . . . . . . . . . . . . . . . ~tAl'I ~~~E. _ . . . . . . . . . . . . . . _ . _ : . . . . . . . . (Nama ol Corwfamniwn F~o~ep ~ . . . . . (herein "Condomtnium F'iroject"). € CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the securiry instrument. ~ Borrower and Lender further covenant and agree as follouvs: I A. Assessments. Borrower shall promptly pay. ~ when due, all assessments imposed by the Owners ~ Association or other goveming body of the Condominium Piroject (herein "Owners Association") punuant to~ the ~ provisions of the declaration, by-laws, code of regulations or other constituent dceument of the Condominium ~ Proiect. - ~ B. Hazard Insurance. So long as the Oumers Association maintains a"master' or "blanket"_ policy on the Condominium Proj¢ct which provides insurance ca+erage against f've, hazards included within the term "extended coverage." and such other hazards as Lender may r¢quire, and in such amounts and for such - periods as Lender may r¢quire, then: - (i) l.ender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one- twelfth of the premium instaUments 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 and ([ii) the provisions - in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any provisions of.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 Project or of applicable law ta 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 c~verage is not maintained, the immediately preceding sentence shal) be deemed to have no force or-effect. Borrower shall give Lender prompt notice of any tapse in such hazard insurance coverage. i In th¢ event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a toss 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 Lender for applica6on to the sums secured by the security inshument, •with the ~ excess, if any, paid to Borrower. f ~ C. l.ender`s Prior Consent. Borrower shall not, except after notice to Lender and ~ with Lender's prior g written consent, partition or subdivide the Property or consent tp: ~ (i) the abandonment or termination of the Condominium Project, except for abandonment or _ e termination provided by_ law in the case of substantial destrucfion by fire or other casuatty or in the case of a ~ taking by condemnation or eminent ~domain: (ii) any materia) amendment to the declaration, by-laws or code of regulations of the Owners ~ Association, or equivalent consfituent document of the Condominium Project, including, but not limiYed to, any amendment which -would change the percentage interests of the unit own¢rs in the Condominium Project; or (iii) the effectua6on of any decision by the Owners Association to terminate professional rrianagement and assume self-manag¢ment of the Condominium Project. D. Remedies. If Borrower breaches Bonower's covenants and agreements hereunder. including the covenant to pay when 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. ~ ~ , :-tLEO ~H~ RF - ` CORDED' + ~ ~JC~E~C'?U`lTY. ~'LA. ~ ;,c ! ; ~ i e aa ~ 4~o~s '79 FEB I 4 P~I 2: 42 ~ ,n_~ Isabell Saad ~ ~ • - - rr~~__. • CONDOMINIUM B~~}C~L~4~~~~'~'~~~;~~MA/FHLMC UNIFORM INSTRUMENT ~ gooK 3U3 P~E 1010 ~ ~ ~ 2~ ~ - - _ ~f - . _ ~ ~a _