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CONDOMINIUM RIDER
THIS CONDOMINtUM R1DER is made this ? J3~' day ot . 19'g , and is incorporaled into
and shall be deemed to amrnd and supplement a Mortgage. Deed ot T~ust or Deed t Secure Debt (hetein "security instrum~nt")
dated ot even date hercwilh, given by the undersigned (herein "Borrower") to secure E3orrawer's Note to FIRST F~D~RAI.
SA~'INGS AND UOAN ASSOCIATION OF MIAbiI Iherein "Gender') and .covering the property deseribed 'en the security
i~strument and located at a:_~ iC A:A u~ll` ~G~
The Yruperty comprises a unit in.togeT~e~ w~~h'~an
u~ndivi~edinterest in ihe common elemenls ot, a condominium project knuwn as
HUTCHINSON ISI.AND CLUB ~ A COridOmiAiLllri Ihercin "Condominium Project"1.
CONI)O~IINILM CO~'ENANTS. In ~ddition to the covenants and agrcements madc in the securily inslrument. Borr~~wer
and l.ender further covenant and agree as tollows:
A. Assessmeats. Bo~rower shall promptly pay, when due, all assessments imposed by ~the Owners Associatiun or other
~;u~~~•rninK body of the Condominium Project (herein "Ovrners Associatioti') pursuant to the pro~ uions ot the declaration, bp-laws,
ciKie o[ regulations or other constitucnt document ot the Condominium Project.
B. H~ard lnaurance. So IonR as the Ow•Rers Association maintains a"master' or "blanket" policy on the Condominium
Pruject ~vhich provides insuranre coverage aQainst Cre, hazards included within lhe term "extended coversge," and such other
h~r.irds a. Lcnder may reyuire, and in such amounts and for such peric?ds as l.ender ma} require, then: ~
~i) !.ender wcaives the pro~~isian in Uniform Co~~cnant 2 for the munthly payment to I.ender ot one-twel[th ot the
pn•rn~um ~nstsllm~~nts tor hazard insurance on the Property;
i ii? Fturruµ•t~r's e,blikatiun under Uni(orm Covenant 5 to maintain ha~ard insurance covrrage on the Yroperty is dermed
~.ilISflPd; and
+iii~ the pruti~i•iuns in (`niturm Covenant ~ rr};ardinK appl?catiun uf hszard insurance proceeds shall t~ superseded b}- any
t~r~~~ i.?uns uF thi• declaration, by I.~µ•s, cale ui rrKulations or olher constituent document of the Cundominium Pruject or of applic
,~bl~~ Liu t~~ th~~ ~•~tc•nt neci•sssr~• t~~ acuid a cun(lict be:tu•ern such pro~•isions and tbe provisions of [:nitorm Co~•enant For any
~~rriiwl uf !ime• durinK K~hi~•h wrh harird insurance co~•eraKe is not maintained, the immediately precedinK sentE:nce shall be
de•••rnt•d t~, ha~•e nu foree ur ~•ffe~t. Ik~rrow•er shall givr I.ender prompl notice o( any iapse in sueh hazard insurance co~~erage_
3n the~ e~ent uf a di~tributiun of hsrard insurance proceeds in lieu o! restoration ur repair foUuwing a loss to the Yruperty.
•.+nrther tu th~~ unit ur tu cummnn elemrnts, any such proceeds payable to f3orrower are hereby assigned and shall t~ p~id t~~
I,~•nd~•r f~r appii.•atiun tc~ the sums ,ecurrd by the sec~irit}• instrumrnt, with the exeess, ii any. paid to Borrow~er.
. t.ende~r's 1'rior Conseot. B~~rrov?•rr .hall not, e!ccept :~[ter notice to Lender and K~i!h I.ender's prior W ritlen ~nnsc~nt.
~~artii~un ur sutxi~~ idt• thc• Yr~p~•rt~• ur c~>nsen: io:
~ i~ the• abandunmi•nt ur te~rm~nation of tfic• Cur,dominium Prujert, except for ab:indonment ~r trrminauon pro~~ided b~~
l:tH in th~• ~,t.t• ~~f ~ub.t:tnti:?I ~Ir,tructi~~n b~• fire ur other ca.ualt}• ur in thr case of a l:~king b~~ condrmnation or eminent dun~ain:
~ ii~ :tm~ mat~~n:U :+men~mrnt to thr der!:+rateur~, b~• law~. or c~xie of rt•Kuiatiuns o( thr Ow•ners Assuriatiun, or ~•yui~:ilene
~•uci.titu~~nt d~N•um~•m of thr ('ond~,minium Pnrjert, i:~cluding, but no? limited to, any am~~ndment w~hich Kuuld fh:lft3;e th~• per-
~•~~nta~f• intrrests ~~f the unit uw•ners in the l;onduminium !'ruject; or
~iii~ the c•ftectuation of an} decisiun b~• the Owr_~•rs :1s~ociation to terminate prdlessiun~i manaKement and assumE• sclf
' ~nanaK~~mrnt uf the Con~iuminium Project.
( U. Remedies. lt Borrower breaches Borrower's rnvenants and agreemcnts hereunder, including t6e covenanl to pa~ w hen
; due condominium assessments, then l.ender may iovoke an~• remedies pro~ided uader the security iastrument, includi:ig, but not
E limited to, tho~e provided under [~niform Covenant 7.
~ I'.` µ'1TtiE5~ ~~'HE:REOF. Borrower has executed this Condominium Rider.
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COtiU0~111i1'N RIDE:R-1 to 4 Family-6 7:r-t'\~i:'l-FIiI.~tC ('tiiFOK~1 ItiSTRU~'IE:tiT (Rev 1~761
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