HomeMy WebLinkAbout0252 _:-5__a/„__.
CONDOMINIUM RIDER
TNIS CONDOtilINIUM R10ER is madc this day of ~3~~w'~- ,19t~ , and ia inrnrporated into
and shall be deemed to amend and supplement a Morigage, Deed ot Trust or Deed to Secure Debt Iherein "security instrument")
daled ot even date herewith, given by the uadersigned Iherein "Borrower") to seeure Botrower a Note to FIRST FEDERAG
SAYIhGS AND LOAN ASSOCIATION OF MIAMI (herein "l.ender") aad rnvering the property described in the security
instrument and located at ~yh T^:-,g
~_`iSF ~f c~AG~ie F! :%R:_ h
'1'he Property comprises n unit in. together with sn undivided interesl in the common elements of, a condominium project known as '
HUTCHINSON ISLAND CLUB ~ A COAdOrili211UTA Iherein "Coadominium Project").
('ONDO~IIN[UM COVENANTS. In addition to the covenants and agreements made in the security instrument. Borrower
and l.ender [urther covenant and agree as foUows:
A. Assessments. Borrower shall promptly pay, when due. all assessments imposed by the Owners Association oc other
Ku.•erning body of the Condominium Yroject Iherein "Owners Association") pursuant tu lhe provisions of the declaralion. by•laws.
c~Mle uf rrgulations or other constiwent document of the Condominium Project.
B. Haurd losurance. So long as the Owners Association maintaios a"master' or "bianket" policy on the Condominium
}'roject which procides insurancr co~•erage :~gainst fire, hazards included within the term "extended coverage," and such other
ha~rrd. as Lender may reyuire, and in such amounls and for such periods as l.ender may require, then:
iil l.ender waives the provision in Unitorm Covenant 2 tor the monthly payment to I.rnder ot one-twelfth ot the
prrrnium instailments for ha7ard insuranre on the Property:
~iil Horrower's obliKation under Uniform Covenant 5 to maintain hazard insurance coveray,e on the Properly is cieemed
~ati.fif~d: and
I~ii) the provi•ions in i;niform Go~•enant 5 regarding applicaLion of ha~rd insurana• proceeds shall be su~rseded by any
pru~ isiuus of the declxration, by laws, code of regulations or other constituent document ot the Condominium Yroject or of applic-
:~ble l:IN' IO ~Flf• extrnt necrssary to avoid a cunflict betw~een such pro~•isions and the provisions oi Uniform Covenant For any
p~•riiwl o[ timt• during Khich such hazard insurance coveraKe is not maintained, the immediately precedinK sentence shall be
~1~•c•med to ha~~e no for~e or eftect. Korrower shali give Lender prumpt noti~r of any lapse in such hazard insurance mverage.
ln tfie e~~i•nt of a distrihution of hazard insurancc proceeds in lieu of restoratiun or repair foilowing a toss to the i'ropert~•.
xhether to the unit or to cummon elrments, any such proceeds payable to Borrower are hereby assiqned and shall be paid to
Lt•nd~r f~~r applicati~~n to ihe sums secured by the secnrit~• instrument, with the rxcess, if any, paid to Borrower.
C. Lender's I'rior Consent. Iiorruwer shall not, except after notice to l.ender and with I.ender's prior w•ritten ronscnt.
p:irtition ~,r .u~lividr the YroE?cr[y or consrnt to:
ii! the ~bandunm~•nt or terminati~,n uf the ('ondurninium Pruject, excc•pt (or abandunment or terminatiun pro.~ided b~•
iaw• in the casc• uf substantial destructiun b}• fire c?r ot,her casualtp or in the case of a taking b}- rondemnation or ~~minent don~ain;
~ ii~ anv matrriai amendment to thc dec~aration, by-laws ur curie o! rc~gulations o( the Ovrners Assucialion, or eyui~ alent
j runslitui•nt document of thr Condominium }'roject, including, but not limited tu, any amendm~nt which w•ould chanKe th~• prr
~•c~nt:t~;~• interests uf thr unit ow•ners in the Condominium YrojExt; or
i i iiil the effectuatio~ of any decision by the Ow•nrrs Associatiun to terminate professional management and assur?ee self-
~ rnaaa~;ement of thN Condominium Project.
~ U. Nemedies. ti Borrov?er breaehes Borrower 8 covenants aad egreementF hereunder, including t6e covenant to pay when
~ due condominium sssessments, then Lender may iovoke any remedies provided under the security instrument, indudi:ig, but not
~ limited to. those provided under l.•niform Covenant 7.
~ Iti WITtiF.SS ~~'HFRFOF', fiorrower has executec~ this Cundominium Hider.
~ _ /
~ TaITNESS
~ r ;
~ ~..~''Ec%%~~ .-~.C.~C~ _ . _ _ - E3orrow•er
~ S IRLEY PRIE ~ " r
~
- f3orrow~er
e ~ -
~ SANDRA J. CHRIVER ~ ~ ~ ~
~
~ - F3orrou•er
~
~
~
~
~
. - • -Rorrow•er
~ ~3~~~ - Barrovrer
~
~ ; ,
9 •~r~ ' ; ~ ~ : 32
s: ~ ~ - - Borrovrer
~ a
~
~
~
~+,'3
~ g~kr W~ 'al~ ~V~
~
~
CO\i[H)NI~i1l,~M RIDF:R-1 to•1 Famil}•-6`75-FI~\1A;FHI.~1C [;`IFOKM I`'STHI'~if:tiT ~RE~~• 1%761
~
~