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CONDOMINIUM RIDER -
THIS CONDOMINIUM RIDER is made this~~~~ day of ~~/cLL~'~ , 19 7y ,and is inrnrporated into
and shall be deemed to amend and supplement a Mortgage. Deed of Trust or Deed to Secure Debt (herein "security instrument")
dated of even date herewith, given by the undersigned (herein "Borrower") to secure Borrower's Note to FIRST FEDERAL
SAVINGS AND LOAN ASSOCIATION OF MIAMI Therein "Lender") and rnvering the property described in the security
instrument and located at 1L~`'" F'A T '
The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium project known as
(herein "Condominium Project"1.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument, Borrower
and Lender further covenant and agree as follows:
A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association or other
governing body of the Condominium Project (herein "Owners Association") pursuant to the provisions of the declaration, by-laws,
code of regulations or other rnnstituen/ document of the Condominium Project.
B. Haurd Insurance. So long as the Owners Association maintains a "master" or "blanket" policy on the Condominium
Project which provides insurance coverage against fire, hazards included within the term "extended coverage;' and such other
hazards as Lender may require, and in such amounts and for such periods as Lender ma}• require, then:
(i) Lender waives the provision in Uniform Covenant 2 [or the monthly payment to Lender of one-twelfth of the
premium installments for hazard insurance on the Properly:
lift Borrower sobligation-under Unitorm Covenant 5 to maintain hazard insurance coverage on the Property is deemed
satisfied: and -
(iiil the provisions in Unitorm Covenant 5 regarding application of hazard insurance proceeds shall be superseded by an}•
provisions of the declaration, by-laws, code of regulations or other constituent document o[ the Condominium Project or of applic•
-able law- to the extent necessary to avoid a conflict between such provisions and the provisions of Uniform Covenant 5. For any
period of time during which such hazard insurance coverage is not maintained, the immediately preceding sentence shall be
deemed to have no force or effect. Borrower shall give Lender prompt notice of any lapse in such hazard insurance coverage.
In the event o[ a distribution of hazard insurance proceeds in lieu of restoration or repair foUow•ing a loss to the Property,
whether to the unit or to common elements, any such proceeds payable to Borrower are hereby assigned and shall be paid to
[.ender for application to the sums secured by the security instrument, with the excess, it any, paid to Borrower.
C. Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written consent,
partition or subdivide the Property or consent to:
~i) the abandonment or termination of the Condominium Project, except for abandonment or termination pro~•ided by
law in the case of substantial destruction by fire or other atsuaity or in the case of a taking by rnndemnation or eminent domain;
ii1 anv material amendment to the declaration, by-laws or code of regulations of the Owners Association. or c•yui~-alent
constituent document of the Condominium Project, including, but not limited to, any amendment which would change the per
tentage interests of the unit owners in the Condominium Project: or
~ iiil Lhe effectuation of any decision by the Owners Association to terminate professional management and assume self
management of the Condominium Project. -
U. Remedies. Ii Borrower breaches Borrower's covenants and agreements hereunder, including the covenant to pay wbeo
due condominium assessments, then Lender may invoke any remedies provided under the security instrument, including, but not
k
limited to, those provided under Unitorm Covenant 7.
~ IN t~'ITtiF:SS «'HE:RF.OF. Borrower has executed this Condominium Rider.
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~ _ _ , - _ . a k a EUGENE G. BRABr>}H>A~
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