HomeMy WebLinkAbout0303 . . ~ ~ CQNDOMINI~JM RIDER ~
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THIS CONDOMINIUM R]DER is rnsde this ~ d~y otFebruary .1979 . and is jncorporatcd into
, r?d shsQ bc deemed to amend snd supplement a Morigage. Deed aJ ~ust at Decd Lo Seeure Debt (herein "security insLrument")
dated of eren dale herewttli. aivea by tAe undersigned (herein 'Borrower"') to secure Borrowsi
s Note to
~~ANY~ A~. (hereia "l.endet') aad eoverin~.the propertp destribed ta tAe securit~
~~s~rument ind located at 3200 IJorth AlA, (fiit No. 105 • Ft. Pieree, Florida 33450
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'I'he Froperly eomprises a uait i~t. together w~Itb an undivided interest in the coromon elements of, a condominium projeet known as
SEA P~ Za'~ QOI~IDONiIIJIiI?i ' • ~ . . , . : : therein "Condominium Projett"). ~
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the aecurity instrument, Borrower
a nd Lender lurther covenant and agree as lollow~ ' .
A. A«eaameots. Borrower shsp promptly pay. when due, a11 assessments imposed by the Ow~ers A~sociation c+r other
go~ernin~ body d the Condominium Projett (~veia "Owaen Association'7 purswnt to the provuions oi the declaratioa, by-laas, ,
code ot retulations or olher constitueat document of the Condominiuui ProjeeL
B. Na~ ~suri?nce. So long as the Owners Association maintains a"master" or "blankel" policr on the Condominium
Projeet M?1~~~b P~~~~ ~~urance coverage against fire. baurds includcd within the term "extended coverage." and sucl~ otber
hazards asl.ender may require. and ia such amounts and for such periods as I.ender may requue. then:
(ij knder waives tbe provisioa in Unitorm Covenaat 2 for the~monthly payment to Lender o! one-twelith of the •
premium installments for har~rd insurance on the Property; _
(u) Borrower s obligation under Uniform Covenant 5 to maintain ha~rd insurance coverage on the Property is deemed
satisficd; and
(iii) the provisions in Uniform Covenant 5 regasding applic~iion of hazard insurance proceeds shall be superseded by any
provisions o~the detlaration. by-1aws. code of regulations or other constituent document of the Condomu~ium Project or of applie-
Able law to the extent necessary to avoid a conflict between auch provisions and the provisions o! Uniform Covenant 5. For aay
pcr;ai o! time during which such hazard insurance coverage is not maintained. the immediately preceding sentence shall be
deerncd to have no force or effecL Borrower shall give Lender prompt notice of any lapse in such haurd insurance coverage.
Jn ihe event of a distribution o! haurd insurance proceeds in lieu o! restoration or repair lollowing a loss to the Property,
v.~heihcr Lo ihe unit or to common elements. any'such proceeds p~yable Lo Borrower are hereby assigned and shaU be psid to
i:erdrr for application to the sums secured'by the security instrument, with the excess. if any, paid to Borrower.
C, Lender
s Prior Conceat.. Borrower shal) no~ except afler notice to Lender and with I.ender
s prior written eonsent,.
r.artic~onorsubdividethePropertyorconsentia ~ ' _
(i) the abandonment or termination o! the Condominium Projeci, except !or abandonment or termination provided by
':aw in the Use olsubslantia) destruction by fire or other u'sualty orin tht cise of a taking by condemnation or eminent domain;
(i~) ~ any material amendment to the declara~ion, by-laws or code o! regulations of the Owners Association, or equivalent
:onstitu~nl docum~:: af the Condominium Projeci.. including. but not limiled to. any amendment which would change the per-
:entabe interests of ihe unit owners in the Condominium Projecl; or ~
(iii) lhe etteclualion otany decision by tfie Owners Association to icrminate profe~ciona) managemenl and assume seU
;-na nagcment of the Condominium Project,. ' •
i D. NOTICE. Any notice_from Borrower. to Lender required in the Condominium Rider shall _
j e mailed to Lender by_certified mail_ to Lender's sddtess"stated 1n the-Mortgage or at such
~~~dress as Lender may designate to Borrower by ceztified mail to the Property Addresa.etated
j}.=~ove. Any such notice from Lende~ to Borrower shall be given in the manner provided under
j{orm Covenant 14 of the Mortgage. ,
j Ip WITNESS WHEREOF~ Borrower ha9 executed th Con ominium~der.
~ • • 1 / `='1-c- ~~.r_~( ~er t!~
~ ' ~ ~ • RICHARD A. HOCH . _-Borrower
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~79 FEB 28 Qh1" 9: y7
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