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CONDOMINIUM RIDER
THIS C.ONDOMINIUM RIDER is made thia ~Z~ day of ~ , 19 7 9, and is incorporated in~o
lemenl a Mort a. Deed oi Truat or
D~re Debt iherein "security iastrun~enl"1
and shall be deemed to ame~d and supp 8 Be
dated ot even_date herewith, given by the underaigned (herein "Borrower") to secure Borrower's Nole to FIRST FEDERAL
tiAVINGS AND LOAN ASSOCIATION OF MIAMI (herein "I.ender') and covering the property described in the security
instrument and located at T,__
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'Che Yroperty comprises a unit in, tag~C~teY ~~h u~?d~ est i~ the common elements ot. a condominium pro~ecl nuwn us
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HUTCHINSON ISLAND CLUB ~ A COndOmilzium (herein "Condominium Projc~ct"I.
GOIVUOMIA3Il,'M COVENANTS. ln addition to the covenants and agreemenls made in the security insirument. Borrower
and l.ender [urthcr covenant and agree as follows:
A. Assessmeats. Borrower shall promptly pay. when due, alt assessments imposed by the Owners Assoc:ation or other
~overning body ot thr Condominium Yroject (herein "Owners Association") pursuant to the provisions of the declaration, by-laws,
c~xie of regulations or other conslituenl document of the Condominium Project.
g, Naurd lnsurance. So lung as the Owners Association maintains a"master' or "blanket" policy on the Condominium
}'roject w~hich prc~~~ides insurance roverage againsl Ctre, hazards included within the term "extended coverage;' and such other ,
hazards as I.ender ma}• rryuire, and in such amounts and for such periods as l.ender may require, then:
ti) l.cndcr vraive4the provision in Unitorm Covenant 2 tor the munthly paymenl to I.ender of une-lNelflh of the
prcmium installmrnts tor hazard insuranceon the Property:
~iil Borruwer's obligation under Uni[orm Covenant 5 to maintain haTard insurance coverage on the PropeMy is deemed
.atisfied; and
. i iii? the pro~~isions in U niform Co~~enant 5 regardinK application of hazard insurancc proceeds shall be su{x rsedctif b~~ an~•
F~ro~ isiuns of [he drelaration, by-law•s, code of regulations or other constitut•nt document o[ the Condominium Project or of applic
:th[f• l:lN' LO LIIf P%It•nt necessary to avoid a con[lict between such provisions and the provisions of Uniform Covenant 5. Fur any
E+rri~xi ~?i timr during which such hazard insurance coverage is not maintained, the immrdialely precedinK sentence shall be
~ieemed to ha~•e nu force or eftect. I3orrower shall give Lender prompt notice ot any lapse in such ha~ard insurance coveraKe.
In the event of a distribution of hazard insurance proceeds in lieu ot restoration ur repair [ollow~ing a loss to the Pruperty.
~hether to the unit or to common elem.rnts, anp such proceeds pa~able to Borrower are hereby assigned and shall be paid tu
i.t~nder for applicatiun to the sums secured by the securit}• instrument, K•ith the excess, i! any. pa~d to Rorruw•er.
C. Lender's Prior Consenl. E3orrowcr shall not, except atter notice to Lender and with Lender's prior writt~~n con~~~nt. ,
E~anitiun ur subdi~•idc the Propertr~ or conseni to:
ii) the abandnnm~nt or IerminaUon of the Condominium Yroject, except tar ahandonment or termination pro~idrd h~•
i.iH in the c3~t• of .ubstsntiat destruction by firc~ or othr.r casualty or in the case of a taking b~ condemnation or eminent dumain:
~ ii? an~ mxt~rial amendment tu the dz•claration, br•-I:~ws or cudr of regulations of thr Owners Associatiun, or i•yui.:+lrnt
r~~ntititu~•nt da'~mt~nt of 1he Condominium Projrct, including. but not limited to. an~• amendment K~hich would rh~n~~• thc~ pF•r
rrntag~• intere;ts of the unit owners in the l;ondominium Yroject; or
~iii? the rffectuation of any deci~ion b}' the Ov?~ners ~ssociation to terminate prnfessional manaKrmrnt and a"ume si~if
~ ~nanaRement uf ihe Conduminium ProjecL
D. Remedies. It Eiorrower breaches Borrower's covenantb and agreements 6ereunder, including t6e co~~enant to pay whrn
~ d~e condominium assessments, then I.ender may invo{ce any remediea pro~~ded under the security instrument. including, but not
; limited W, tl~oeie pro~~ded under ('niform Covenant 7•
p Iti ~~'IT\E:tiS WHI~:REOF. Borrower has executed lhis Cor.dominium Rider.
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