The URL can be used to link to this page

Home My WebLink About1772 CONDOMINIUM RIDER • ~ .y TNIS CONDOMINIUM RIDER is made this •,9 day o! February ~ 1si79 ~ and L incorporated into and shag be deem4d to amend and supplement s Mortgage. Deed of 1~rust or Deed to Secure Debt (herein `security instrument") dated of even date herewith, sauces by the underaigaed (herein `Borrowerry to secure Borrowers Nole b yc~~wCFIAN ~ Oa'1P~1NY, II~1C. (herein •'lender•7 and eoverint . the ~ property described is the security instrument and located at X200 North AlA, Unit No. 403 , Ft. Pierce, Florida 33450 ~ • Th a Properly comprises a unit ia. together wrath as undivided interest in the eoromon elements o!. a condominium project know~a as SFA PII~:S 'lYA+~t O~JI~DCptIIJI.Ll4 ~ • ~ ' ~ , (herein `Condominium Project'3. CONDOMINIUM COV$NANTS. In addition to the covenants and agreements made in the security instrument,, Borrower : nd Lender lurther covenant and agree as follows: ~ - A, Assaameata. Borrower shall promptly pay. wrhea due. all assessments imposed by the Owners Association er other goyrrning body o! the Condominium Project (herein "Owners Association`) pursuant to the provisions o! the deelaratioq by-laws, • code of regulations or other constituent document of the.Condomiaium Project. B, Hazard Inauran~. So long as the Owners Association maintains a `master`. or "blanket` policy on the Condominium Project which provides insurance coverage•against lire. haurds included within the term `extended coverage." and such other haurds as Lender may require. and in such amounts and !or aueh periods as Lender may require. then: (i) Lender waives the provision in Uniform Oovenaat 2 !or thc•monthly payment to Lender o! one-tweUtb of the ~rrmium installments for haurd insurance on the Property; 1u) Borrowers obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed ;atisficd: and (iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any provisions of the dedaraGon. by-laws. code of regulations or other constituent document of the_Condom~inium Project or of applies ~b1e law to the extent necessary to avoid a conflict between such provisions and the provisions Qf Uniform Covenant 5. For any period of time during which such hazard insurance coverage is not maintaincd.~the immediately preceding sentence shall be teemed 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 dislribulion of hazard insurance proceeds in lieu of restoration or repair lollowing a loss to the Property. . hether W the unit or to common elements. any such proceeds payable to Borrower are hereby assigned and shall be paid to .en3cr for application to the sums secured by the security instrument, with the excess, if any. paid to Borrower. C. Leoders Prior Conceal. Borrower shall nod except after notice to Lender and with Lender's prior written consent.. ,a rtition or subdivide the Property or consent toe (i) the abandonment or termination o! the Condominium Project, except for abandonment or termination provided by ~ w• i n the case of substantial destruction by fire or other usually or in the use of a taking by condemnation or eminent domain; (ii) ~ any material amendment to the dedara~ioq by-laws or code o! regulations of the Owners Association. or equivalent onstituent document of the Condominium Project. including, but not limited to.:ny amendmenl_which would change the per- entabe interests of the unit owners in the Condominium Project; or ~ - (iii) the effectuation of any decisign by the Owners Association to terminate professional management and assume sell zanagcmenl of the Condominium Project,. - T)- NOTICE. Any nQtice_from Borrower to Lender required in the Condominium Rider shall _ ~i1ed to Lender by_certified mail- to Lender's address-~stated in the-Mortgage or_ at such ~adress as Lender may designate to Borrower by certified mail to the Property~Addresa.atated ;,Qye• /sny such notice from Lende~c to Borrower shall be given in the manner provided under ~ i f o rro Covenant 14 of the Mortgage. _ • IN WITNESS. WHEREOF, Borrower has execut~• hi - in Rider. . • 3ACK S - ..-Borrower • ~ ~ ~ i ~ • ~ - Bortowtr ~ 3 ~ ~ t _ ti - ~ ~ BENNEIT WERNER -Borrower ,'•`:G RECORDED - r 434564 : - ' 79 F~(3 20 ~R1 9 - ~ 7 - - - - - _ x _ . ~ 3 • . BocK ~ n?cf177"~ - - . . - ~ ~ ~ ~ : c-, ~t,. •n,? T'1:'•!/~/l'1l~.?.1f' 1l?:finR~! 1"~T/Iil?.1Fa:TIRcv lntt - - - i~ s~