The URL can be used to link to this page

Home My WebLink About1043 ~ , - - . - CONDOMINIUM RIDER ~ ~ ~ ~ . ~ . . 1 THIS CONDOM1NlUM R1DER is made this 7 day ot M~ch ~ ig 79 . and is incorporated into a nd shall be deemcd to amend and supplement a Mortgage. Deed o! 7~ust or Decd to Secure Debt (herein "security instrument") dated ol evca dile herewIth. given by the underaigned (herein "Borrower") to secure Borrowers Note b rS:~AlK~~1N I~IC'~ aY'~PANYi Il~C. (herein "Lender"~ and covering.the property described in the sccurity ;~~tl~ment ind located at 3200 North 1~L1A, t)nit No. 701 ~ Ft. Pier~ce~ Florida 33450 ; ~ ~ T~ e Property comprises a unit in. together witb an undivided interest in the common elemcntt of, a condominium projec! known as S~ p~ Zp{~t ~I~Cr'IINILP! • • ' " . • ~ ~ : _ (herein "Condominium Projett"j. ('ONDOMINIUM COV~NANTS. In addition to the covenants and agreemenLs made in Rhe security instrument, Borrower a r. ~ Lender lurther eovena~t and agree as lollowa: _ A. A~«i~menta. Borrower shall promptly pay. when due. all asscssments imposed by the Ownera A~sociation or vther goYerning body o! the Condominium Projeel (herein "Ownen Association") pursuant to the provisions o! the declaration. by-laws, . code oJ regulations or other constituent document o! the Condominium ProjecL g, }iay.rd Inrurance. So )ong as the Owners A~soc~ation maintains a"masler` or "blankel' policy on the Condominium F'reject whicl~ provides insurance coverage against fire. haurds indudcd within th~ term "extended coverage." and such other }~aurds as Lender may require. and in such amounts and !or such periods as I.ender may require. then: ~ . (Q) Lender waives the provisioa in UnJorm Covenant 2!or the~monthly payment to Lender of one-tweltlh o! ihe pren,ium installments for hazard insurance on the Propert~+; (u) Borrower s obligation under UnJorm Covenant 5 to maintain hazard insurance coverage on the Property u deemed satisficd; and (iii) the provisions in Uniform Covenant 5 regarding application of haurd insurance proceeds shal) be superseded by any pr o.•;sions of the declaration, by-laws, code of regulations or other constituent document of the Condomu~ium Project or o! applie- a blc law to the exlent necessary to avoid a conflict between such provisions and the provisions of Uniform Covenant 5. For any F~eriod of time during which such hazard insurance coverage is not maintained, the immediately preceding senlence shaU be c?eerncd to have no lorce or effecL Borrower shall give I.ender prompt notice of any lapse in such haurd insurance coverage. In the cvent of a distribution of haurd insurance proceeds in lieu oi restoration or repair lollowing a loss to the Property~ hether to the unit or to common elements. any sucb proceeds payable I,o Aorrower are hereby assigned and shall be paid to 2_,~r.dcr lor applicition to the sums secured by the security instrument, with tfie excess, if any, paid to Borrower. C, l,ender's Prior ConsenL Borrower shal! not, except after notice to Lender and with Lender's prior written consent,. t; t~on or subdivide ih~ Property'or consent ta ' the abandonmenl or lermination of the Condominium Projcti. exccpt for abandonment or terminalion provided by ;a K in the nse of substantis) destruction by fire or other casualty ot in tbe case of s taking by condemnaLion or eminent domain; (ii) any material amendment to ihe dedara~ion, by-laws or code olregulations of the Owners Association, or equivalent ~I co~,stitur.nt documenl of Lhe Condominium Projed, including, but not.limited to. any amendmenl which would change the per- i ~ ce~:t~ee intcrests of the unit owners in the Condominium Project; or j (iii) the etfeclualion of any decision by the Owners Association to terminate professiona) managemenl and assume selJ- ~~~,,aragcment o! the Condominium ProjeeL - - i D, NOTICE. Any notice_from Borrower. to Lender required in the Condominium Rider shall _ ~ e::ailed to Lender by_certified mail_ to Lender's address~~stated in the-Mortgage or at such j;;~r~ss as Lender may designate to Borrower by.certified mail to the Property Addrese stated :~,~ve. pny such notice from Lendet to Borrower shall be given in the manner provided under g:, i f orro Covenant 14 of the Mortgage. . ~ € IN WITNESS WHEREOF, Borrower has executed omi ~ ' - ~ ~ - ' - ~r~l/~,u'~ ,t' i^/' ~ ' ' . , RDSSII,L .-Borrower ; . ~ - ~ - " ' ~ ' ~ ' / . ~ A. - Borror.er ~ ~ ; . . ~ - - BOiTOwt7 . :i # , ~ • 1~' ._n ' • ' ' . - Sorro~rct j I ~OV ~ ; _ C1 „i ~ ~~y- - - - - - ~ - . . . . - - . ; - . . ~ - ~ ~ . ~ ~ i~~~i};:~? . ~ r.?, • 8G9 • . L 4 3U5 104~ - :T , . . . t ; _ . 5cc< <.,~; ~ ~ r~ . ~ _ ~ ~ ti r. , • • ~ , ~ c~,. ~~~..-ln~ i'?7~!A/TI??.~!r: 11):I}-(li~}.~ lf.~TFtitl.!?'NT rR~.. ~na~ ;