HomeMy WebLinkAbout0333 . ~ ~ CONDOMINIUM RIDER ~
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THIS CONDOMINIUM R1DER is nude lhis d~r ot Februsry .1~19 . and L jncorporated ieto
a nd shaU be deem~d 1o amead :nd supplemeot a Morlgage. Dced ot 1lrust or Deed to Seeure Debl (hereia `security instrumeaC~
d.t~d d even date berewltli. siveo by the undersi~ned (hereia `Borrower•) to ucure Borrowers Nole b
Md'~~N N~ aY~ANY~ II~. (6ereia "l.eader'~ and covesiat.the propert~ described ia tlie aecurity
instzumeal and loeat,cd at ~2G0 Nosth 1~1A~ Unit No. 101 ~ Ft. PireZ+Ce~ Flori,da . 33450
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The Property ~Pnses a unit in. togetber whb an undivided intereat in tl~e common elements oI. a eondominium projeet kno~rn u
SFA PIl1~ 1~ ~I~~'! ~ • ~ ' ~ _ ' ' . _ : (1~erein "Condominium Projeet").
CONDOMITIIUM COV$NANTS. Ia addition lo the covenants and agreements made ia !he ucuritp jnslrument, Borrower
:nd l.ender l~Khu ~venant aed agree as follow~ ~ .
A, p«e~~menta. Bortower shaU prompily pay. w?hen due. aU assessme~ts imposed b~ the Owners Association or other
governinr body d~~ C°ndominium Projed (herein "Owaers Associationy punuant to the provuions of the deelarataq by-fa~rs~ ,
code of re~ulaVons or oWer constituent do~umeAt ot the Condominium Projed.
B. H~a So IoAg as tlie Ownen Association mainiairis a"masler' or "bknket" policy on the Condominiu~n
Projecl whicD provides insunnee coverag,e~agaInst fire. hsurds tnduded within the term `extended wverage.' and sucb other
T,~urds as I.eader may require. snd in sucb imaunts and !or sueh periods u I.ender may require. thea:
Lender waives the provision in Uniform Oovenant 2 io~ ti~e ~monthly payment to I.ender of one-twelttL ot tbe
premium installments for haurd insurance on the Property; _
~u) Borrower
s obligation under Uniform Covenant 5 to maintain hanrd insurance coverage on the Property is deeaotd
salisficd; and
~iii) the provisions in UnJorm Covenant 5 regarding ipplic~tion oi haurd insurance proceeds shall bc superseded by any
provisions of the declaration. by-laws. code o! regulations or other constituent document of the Condom~nium Projeet or of applia
able law Lo the exlent necessarr to avoid a conilict between such provisions and the provisions Qf Uniform Covenant 5. For any
prriod of limc during whicb such hazard insurance coverage is nol maintsined. the immediately preceding senteact sAaU be
deemed to have ne torce or effecl. $orrower shall give Lender prompt notice ot any lapse in sucb haurd insurance cover:ge,
In lhe event of a disUibulion o! hazard insuranu proceeds in lieu of restoration or repair following a loss to the Properly.
whether to lhe unil or to common elements, any such proceeds payable Lo Borrower are hereby assigned and sball be paid to
Lender lor spp~~~tion to the sums secured by the security instrument, wilb the excess. if any. paid to Borrower.
C, I,ender's Prior Concent. BorrowEr shall not, except afler notice to Lender and with I.ender's prior written consent~.
partition or subdivide ihe Propertybr consent ta: ~
(i) the abandonmenl or termination o! the Condominium Projcc~ exccpt for abandonment or lermination providcd by
)a w in the c~se o! subsUntial destruction by fire or other ca'sualty or in the c~se of a Lking by condemnation or eminent domain;
~i~) = any material amendment to the dedara~ion. by-laws or code o! regulations of the Owners Association. or equivalent
constituent document of the Condominium Project, including, but nol limiled t0. ~ny amendment which would change tl~e per-
centage interests ot the unit owners in the Condominium Projeel; or -
~ the effectuation ot any decision by the Owners Association to terminate protessional managemenl and assume seU
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E m~nagcmenl of the Condominium Projeet.
~ D. NOTICE. Any notice_from Borrower- to I.ender required in th~Condominium Rider shall
s t~Q mailed to Lender by_certified mai~_ to Lender's address' stated in the -Mortgage or at such
~ address as Lendet may designate to Borrower by certified mail to the Propezty Address.etate
j above. AnY such aot~ce froin Lende~ to Borrower sh$11 be given in the manner provided under
;.~niform Covenant 14 of the Mortgage. .
~ ZN ~IIT'NESS WHEREOF, Borrover has executed thi ondominium Rider.
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