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Home My WebLink About0392 11-489?/WEST ~ . CONDOMINIUM RIDER ~ THIS CONDOMINIUM RIDER is made this ~ day ot . 1879 . and ia incorporaled into and shall be deemed to amead and supplement a Mortgage. Deed ot Trust or Deed ecuce Debt (herein "security instrument") dated ot eve~ date herewith. givea by the undersigned (herein "Botrower") to secuce Borrower s Note to FIRST FEDERAL SAV[NGS AND I.OAN ASSOCIATION OF M1AMI (herein "Lender') and covering the pmperty deseribed in the security inslrument and located at 10490 A~lA iJNI7 :~3 The Property comprises a unit in,~~~~ v~tri ~'it~ndi~t~'~lif~resl in the commo~ elements of. a condominium project known as HUTC~iINSON ISLAND CLUB. A Condorninium Ihereia"CondominiumProjecY'). COI~DO\iINIUM COVENANTS. In additio~ to the rnvenanls and agreemenls made in the security instrument, 8orrower and l.ender further covenant and agree as [ollows: . A. Assessmeots. Borrower shall pwmptly pay, when due. all assessments imposed by the Owners Association or other Koverning body of lhe Condominium Project lherein "Owners Association") pursuant to the provisions ot the declaration, by•laws, code ot regutations or other constituent document ot lhe Condominium Project. B. Hasard Insuranee. So long as the Owners Association maintains a"master' or "blanket" policy on the Condominium f'rojeci which provides insurance coverage against Cire, hazards included within the term "extended coverage." and such other hazards as I,ender may require, and in sueh amounts and for such periods as Lender may require, then: ii) l.ender waives the provision in Uniform Covenant 2[or the monihly payment to Lender of one-twelfth ot the _ premium iiistaiiments for hazard insurance on the Property: ~ii) Rorrower s obiigation under Uniform Covenanl5 to maintain hazard insurance coverage on the Property is deemed satisfied: and i iii) the prm~isions in Unitorm Co~•enant 5 regarding application of hazard insurance proceeds shall be superseded by any prueisions uf the declaration, br-laws, cude of regulations or other constituent document of the Condominium Project or ot applic- able law to the extent necessary to avoid a eontlict brtween such provisions and the provisions of Uni[orm Covenant 5. For any period o[ time during which such hazard insurance coverage is not maintained, the immediately preceding sentence shall be deemed to have no force or eitect. Borrower shall gi~e Lender prompt notice of any lapse in such hazard insurance coverage. In the ~•vent oi a dictribution af hazard insurance proceeds in iieu of restoration or repair [ollowing a lass to the Property. wht•ther to the unit or to common elemenis, any such proceeds payable to Borrower are hereby assigned and shall be paid to • Lender for applicalion to the sums secured by the sec~~rity instrument, with the excess, if any, paid to Borrower. G Ixader's 1'rior Cmnsent. Aorrower shall not, except alter notice to I.ender and with Lender's prior written consent, p3rtition or subdivide the Property or consent to: i i1 thc abandanment or termination oi the Condominium Project, except for abandonment or termination pro~~id~d by In~• in the c~se of substantial destruction by fire or other casunlty or in the case of a I,aking by condemnation or eminent domain; 1ii) any material amendment to the declaration, by-laws or code of regufations of the O~~ners Association. or eyuivalent ronstituF>nt documenl of the Condominium Project, including, but not limiied to, any amendment which would change the per- ; centaqe interests of the unit ownrrs in the Condominium Project; or ~ I iii) the eftectu.:tion of any decision by the Ow ners Association to terminate professional manaKrment and assume self ; managemrnt of the Condominium Project. : D. Remedies. It Borrower breache$ Borrower e eoveaants and agreemenls 6ereunder. including t6e rnvenant to pay w hen ~ due condominium assessments, then I.ender may iavolce any remedies provided under t6e security instrument, includi~g, but aot ~ limited to, t6ose provided under Uniform Covenant 7. € 0 ~ IN WITNESS WHEREOF. Borrower has executed this Condominium Rider. ~ K/ . .//C,~ ~ - Borrow er - . ~ . ~ /~J _ ~/Z.s.~_~~s~~s~ ~ - ' • - f3orrower ~ 43'7:366 . . ~ _ . ~w_=~ ~ ~ , ~ , , ~ - F3orrov~er ~ t~ ~ ' 1 ~ ~ I i v ~ E' ~ G/~ - BAfiOV1 Qi J F - Borcower r: `i 3 ~ - Borrower , x ~ ra ~ ~ ~ UR/~~ ! 3CG~s7~~ Ybt~E ~ ~ . CO\IK)~iI~IC;y! RIDER-1 to 4 Famity-6!7~-FN~'[AiFH1.:~iC UNIFOR:1t INSTRUbiENT IRev 1~761 ~ ~