HomeMy WebLinkAbout0321 . . ~ ~ CONDOMINIUM RIDER ~
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THIS CONDOMINIUM R1DER ~s made Lhis d~y ot February .1979 . and is incorporated ioto
a nd shal) be deemed t,o amend and supplement ~ Mortgage. Deed d 7lrust or Deed to Sccure Debt (herein "securfty Instrument")
d.~ed o( evcn dale herewitl?. giveo by the undersigoed Ihereia "Borrower'~ to secure Borroweis Note to
~~~~J ~~'i~GA~',E ~'~ANY~ II~1C. (berein "I.eader') aad coverint.the property described in the security
enstrument and locited ~t ~200 NDrth AIA, Unit No. 102 ~ Ft. Pi,et~Ce~ Flo~tfcla 33~50
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T1~r PropcrLy comprises a unlt in. together wrjth an undivided interest in the common elements ot. a condominium project kno~vn as
SFA PIl~S 1'O~t ~ ~ • ~ • . • • . : : Ih~s~e~n "Condominium Projeel"j.
CONDOM1NlUM COVENANTS. Ip sddilion to the wvenanls and agreements made in the securltp instrumen~ Borrower
~nd L.ender luriber covenant and agree as lollow~ .
Assei~mcnts. Borrowu shill prompUy pay. w?hen due, a1) s~sessments imposed bJr the Owners A~socistion or other
go~~rning body of the Condominium Projett (herein "Owaers Assoc~ation") pursuant to the provuions of the dedaratioq by-L~rs. ,
code o! reguLtions or other constituent document o! the Condominium Project,
g, }/.urd Losur.nce. So long as the Owners Associatioa mzintsins a"master' or "blanket" policy on the Condominium
Project which provides insurance coverag,e~against fire. ha~rds induded within the term "extended coverage." and suc?i olher
h~zards ss Lender may require. and in sucb i~aunts and for such periods as I.ender may require. then:
(i) Lender waives tbe provisioa in Uniform Covenant 2 for the monthiy payment to Lender of on~~tweltlh ot the •
pre mium installments !or haxard insurance on the Properiy; .
$orrower s obligation under Uniform Covenant 5 to maintain ha7ard insurance coverage on the Property is deemed
satisficd; and . -
(iiij the provisions in Uniform Covenant 5 regarding applintion oi haurd insurance proceeds shall be superseded by any
pro~~s;ons of lhe declaration, by-1aws, code ot regufations or other constiluent documenl of the Condom~nium Projeet or oi applio
nble law to the extent necessary to avoid a conflict between auch provisions and the provisions of Uniform Covenant S. For any
F~eriod of time during which such ha7ard insurance coverage is not maint~ined, the immediately preceding sentence shall be
c;ee~ncd to have no force or effect Borrower shal! give I.ender prompt notice of any )apse in such ,iaurd insurance coverage.
In the cvenl of a distribution of haurd insurance proceeds in Iieu of restoration or repair lollowing a loss to the Property.
w hether to the unil or to common elemenis. any such proceeds payable to Borrower are hereby assigned and shal) be paid to
I,rnc~rr for application to the sums secured by the security insirument, with the excess. if any. paid to Borrower. .
C, Lcnder
s Prior Concent. Borrower sha11 not. excepl after notice to Lender and with I.ender's prior written consent,.
p~rt ition or subdivide ihe Property or consent ta
(i) the abandonment or termination of the Condominium Projec~ exccpt for abandonment or termination provided by
I~ w• i n the c~se o! subsLantial desLruction by fire or other ca'sualty or in the case of a Laking by condemnation or eminent domain;
(ii) = any msterul amendment to the dedara~ion. by-laws or code o! regulations o! the Owners Association. or equival~nt
:or,sti~~ent document of the Condominium Projeet, including, bul nol limiled to. any amendment which would change the per-
,=entage intcrests of the unit owners in the Condominium Projecl; or
~ (~ii) Lhe effectuation of any decision by the Owners Assotiation to terminate professional managemenl and assume seU-
; ~:ar.agcment o~ the Condominium Projec~ ' -
f D, NOTICE. Any notice_from Borrower- to Lender required in the Condominium Rider shall _
i e~ailed to Lender by_certified mail_ to Lender's address' stated in the -Mortgage or at such
~:'.ciress as Lender may designate to Borrower by certified mail to the Property Addrese.stated
;~~ye, pny such notice from Lender to Borrower shall be given in the manner provid~d under
~ niform Covenant 14 of the Mottgage. .
IN WITNESS WHEREOF, Borrower has executed this ondominium Ride~c.
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