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FIRST FEDERAL SAVINGS AND LOAN ASSOCIA`fION
OF FORT PIERCE
C0~1D0~'IINIU~'I RIDER
04-23049289
Tttts Co~nortt;`ruH RIDER is made this....~~x~1 . .day of Mdt".Gh .
19..7.x, and is incorporated into and shall be deemed to amend and supplement a Mortgage, Dred of. Trust or Deed
to Secure Debt (herein "securih instrument") dated of even date herewith, given by the undersigned (herein
"Borrower") to secure Borrow•~r's Note to...... FIRST .FEDERAL .SAVINGS. ANA .LOAN. ASSixIATIAH .OF . .
.FORT. P~ERGE. .(herein "Lender')~and covering the Property described in the securitc instrument and
bated at.....l ]66. Ba~yshore.. F~.. P.ierce,. Florida ..3345A
(Pro6erty Address)
The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium
project known as. CDlonnades..Condominituns .No..3 . .
(Kama of Condominium Project)
. (herein "Condominium Project"). _ '
Co~oo~tt~tut?t CO~'F.NANTS. In addition to the rnvenants and agre~mcnts made in the cccurits• instru:nrnt,
Borrower and Lender further covcaant and agree as follows: '
A. ~cccccrnents. Borrower shall promptiy pay, when due, all a~cessments impe~sed by the OsnerS .Accctiiation
or other gos~rning body of the Condominium Pro}act (herein "Oa•nrrs Association"1 pursuant to the prosis~nr.. <+f the
declaration. by-laws, code of regulations or other constituent document of the Condominium Project.
B. Hazard Insurance. So long as the Owners Association maintains a "master" or "blanket" policy on the
Condominium Project which pros•ides insurance coverage against fire, hazards included within the term "extended
cavera~c; ' 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 for the monthh~ payment to Lender of c•ne-t»clfth
of the premium installments for hazard insurance on the Property: i
(ii) Borrower's obligation under Uniform Covenant $ to main?ain hazard insurance cos e:a~e nn the F
Property is deemed satisfied; and ~
(iii) the provisions in Uniform Covenant 5 re~,arding application of hazard insurance prc•cerds wall he ?
superseded bs• am' provisions of the declaration, by-laws, cc,de of regulati.~ns or other constituent document of the
Condominium Project or of applicable lase to the extent necessarc to avoid a conflict between such provisions and i
the pros•isionc of uniform Covenant S. For am• period of time during which such hazard insurance cosera~e is not
maintained, the immediatel} preceding sentence shall be deemed to have no force or effect. Borrower shall ~is•e
Lender prompt notice of am I:+pce in such hazard insurance coverage.
In the event of a distribution of hazard insurance pnxeeds in lieu i,f restoration or repair following a loss to
the Property, whether to the unit or to common elements, am' such proceeds payable to Bormwer are hereby assigned
j and shall be paid to Lender for application to the sums secured b~ the securit? instrument, with the excess, if am_•.
i paid to Borrower.
C. i.enders Prior Cunce•nt. Borrower shall not, except after notice to Lender and with 1_cndrr's i n+,= strit'cn `
~ consent, partition or subdivide the Pmpem or consent to:
(i) the abandonment or termination of the Condominium Project, except for abandonment or t~r;~,ir.ati+~n
pros•ided by law in the case of substantial dLstruction by fire or other casualts• or in the case of a taking by ca:ui~:~natn~n
or eminent domain: _
(11) an\' Tialt;iial ar„i'numen? l0 the dre1:,ratinn. ;w-lasso or code of regulat,.~ns +~f ?h:: Os~ners Ac~~ti::~',:•n. '
3 l~T eau+t'al,nt constit.:rnt dcxumcnt Of ih Ci+nJv!?11:~,Um PIl~1~lt. lli=1;,'in~. but not li'^it:'u in.:,n\ c:?I';'ldilli Ilt '•~`:~:h ~
~ would ch.,nge the percentage interests o` the unit e,~+ners ir. the Cund+~„ir:ium P++~jrct: or
~ (iii) the effec?uation of am decision bs the Owners ?+~cc,ci:,tion to terminate pr~~fessic~nal nan:,gc•mcm and
4
a~~ume cell-m::na_rmeni of the ndc~;ninium Prc•ject.
s n. R+~n++•dirc. It Rorro.•cr hrc•achc~ Rnrrc,wcr'~ cc?.rnantc and a;;rrcmcnts hc•rrundrr, includinh the cosenant
t.. i•a~ •'`++n due c+~nde,+;++ni~m :r~r~.-n?entc, then Lt•ndrr rnas :n.c~i.e r» it,nrciiec prusiued under iF+r cre!uas
~ imtn,mrnt, incluc!ing, but not lir?ilyd tc+, thine pru.idc•d order lnifunn Cv~~n:+nl 7.
ii
l~ V1'IT~lSS V1~HtRFOF, Bnrjowerhas executed this t`o?;:ic'm:nium Rider.
" - _EC nrl~: n=col~oEO~
.:U`. ~ FL:..
4~~~ Gordon H. Hess -B°.r°~~'
'79 ~fw? 28 AM ~ : 55
~ _ Br/e~Sda C . =Has-s __s_,,. jl~
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