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FiRST FEDERAL SAYlNGS aND LOAN a~SOCiATtON
OF FORT PIERCE
CONDOMII~IUM RIDER
TH~sCo~tx,yi~~u~~ RtaeR is madc this. . . .13th . . . . . . . . . .day of. . . ARCI~. . . . . . . .
19. 79., and is incorporated into and shall bc deemed to amend and cuppl~m~nt a Mortgage. Ihed of Trust or Deed
to Secure Debt (herein "security instrument") dated af e~~en date herewiih, givcn by the undersigned (herein
"Bormwer") to secure Borrower's Note to. . . . . . FIRST .FEDERAL .SAVINGS. AND .I.OAN. RSSOCIATIOII .QF. .
.....FORT. P.zERCE. ....(herein "Lender') and covzring the Property described in the cecurity instrument and
~~ace~ at. . .214D. Manatee. Lane - .Eort. Pi~er.ce, .Elorida. ..33450. • - • • • • • • • • - - • • • • • • • • - ~ • • - • - •
~prooerty Address)
The Propert~ comprises a unit in, taeether ~•ith an undivided interest in thc cammon clemen~~ of, a condominium
pmject known . . . . . NIC~H?QIN~.4F. FORT .?IER~~_ .C.O.NRQMINIUM.,. SECTION. I . . . . . . . . . . . . . . . . . . .
(Name o/ Condommium Project)
. . . . . . . . . . . . . . . . (herein "Condominium Project"). ~
Co~no~:in~uM Co~~E,,~~TS. ln addition to the cavcnants and agrecrnents made in the securit~~ inctrument,
_Borrowcr and Lendcr further covenant and aarec as fallows:
A. ~s~escments. Borro~er shall promptl~~ pa~~, w~hen due, all assecsments impo~ed h~~ the O~~ner5 Acsoeiation
ar other governing bod~ of the Condominium Project (herein "O~~ners A«ociation") pursuant to the pro~~isions of the-
declaration, b}-laws, code of re~ulations or other constituent document of the Condominium Project.
B. Hazard Insurance. So lone a_~ the Owners Association maintains a"master" or "blanket" pnlic~~ on tfie
Condominium Projert w°hich provides insurance coveraee a~ainst fire, hazards included within the term "extended
covera~e: ~ and s~ch other hazards ac Lender ma~• require, and in such amounts and for such pcriods as Lendcr ma~~
require, then:
(i) Lender H~aives the pro~•ision in Uniform Covenant 2 for the monthh pa~~ment to Lender of onc-tweifth
of thc premium installments for hazard insvrance on the Propcrt~•;
(ii) Borrower's obligation under L~niform Covenant 5 to maintain hazdrd incu~anc~c~~cra~e on the
Property is decmed satisfied; and
(iii) the provisions in UnTorm Co~~enant S regarding application of hazard insurance pr.~ceed~ shall be
superseded b}• any provisionc of thc dectaration, b~'-laws, code of reeulations or ~thcr c~nstitucnt dckument of th;
Cc.ndominium Projeet or af applicable law- to the extent necessar~• to a.~oid a confliet tx;tw~een tuch pro.•isic~ns anci
the provisinns of Uniform Covenant S. For am period of time durinc w'hich such hazard in~urance ca~~eraee is not
maintained, the immediatel~- preceding scntence shall be deemed ~o have no force or efiect. Bormv?~er shall ~i~•e
' Lender prompt notice of an~ lapce in cuch hazard insurance co~•eraoe_
~ In the event of a distributian of hazard insurance proceeds in lieu of rectoration or repair tollowing a loss to
! the Pr~pem•, w~hether to the unit or to common elements, an~• such proceeds pa~•able to Borrow'er are hereb~' as~i:=ned
~ and cha!I be paid to Lrnder for apFlication to the sums cecured b) the ~ecurit~~ instrument, ~~ith the eaccess. if am~.
~ paid to Bortower.
!
s C. Lender s Prior Concrnt. Borrower sfialt not. except after nc~tice to Lender and ~•ith 1_eqder's prior u ~itten
~ cor.seni, partition or ~ubdivide the Prupcrt~ or consent to:
(i) the aband~nment or termi~ation of the Condominium Project, except fur ~bandonment or termir~ation
~ provided b~~ law in the case of substantial destruction b~• fire or othcr casua)ly or in the cace of a takin, b~• rn:xiemn:~tion
~ or emincnt dc?main; _
(ii) am matcrial amin~mcnt to ihe declaration, b~-lawc or cc~de of re~u!ati~ns of the Owners A~tociation.
or rquiti~alent cc•nstituent dc~cument of the Candomi~ium Project, includin~, hut na: limited to, am ~rr~cn~ment ~}~i:h
w~ould change the perccntaee interests of the unit ow~ners in thc Condominium Project; or
(iii) the eftectuation ot any decision b~~ the Ow~ners Association to terminaie professional manaiemcn: and
~ ascume ctlf-management of ihe Condominium Project. !
~ D. Remrdiec. lf Burra~er brcaches Rorruµer'c ca~enants end agrecmenls hereunder, includin~ the co•~nant
a f
tu pa~ v?hen due c~md~miniurn a~~et~meNs, fhen l,endrr ma~ imoke any remedie~ pro~idrd undrr the securit~
~ in~trumcnt, includin~, but not fimilcd to, lho~e pru~~idrd undc~ t'nifurm Co~'cnant 7.
]K V1`ITI~ESS V1'HEREOF. BO~fO~'Cf }185~t~tecuted this Condominium Rider.
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~ ~~~E~ :~r~~, ~~~COR~ED~
~ • .~Ut:TY. FL~. _,.--C~-~~~ ~j1--~//.e.~6~u.~-,g--
` r'~' Edward M. McQui re -B°"°"`•
9~g~1a35J~
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~ '79 A07 I 8 PM 3 ; 3 ~Clr~t~~r1 ~~-v ~ J~'~'~ - ~ _ i;
~ -6c^cwer i%
~ Karen McGui re ~
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