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Home My WebLink About0341 ~IR37 FEDERAL SAVINGS AND LOAN ASSOCIATION ~ OF FORT PIERCE CONDOMINIUM RIDER THIS CONDOMII~UM RIDER is made this . . . . . . ?7.th. . . . . . . . . day of . . . Apri 1 _ _ _ _ _ , 19 .7.9. and is incorporated into and shall be deemed to amend and supplement a Mortgage. Deed of Trust or Deed to Secure Debt (herein "security inshument") dated of even date herewith, given by the undersigned (herein "Borrower") to secure Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF FORT PIERCE (herein "Lender") and covering the Propert described i~ the securit inshument and located at . . . . . . . . . . . . . . . 2400. S.. :Ocean. Orive, .~ort Pierce, .Fl , .3345~ . . _ . . _ . . . . laopsrty Add~sssl The Property comprises a unit in, together with an undivided interest in the common elements of. a condominium project known as . . . . . . . . . . . . . . . OC.EAN .VILLAGE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~NS~+e o~ cawa,+~~wm Wqlct) . . . . . . . . . . (herein "Condominium F'roject"?. , , CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument, Borrower and Lender further covenant and agree as toilows: A. A~sessments. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association or~ other goveming body of the Condominium Project (herein "Owners Association") pursuant to the provisions of the declaration, by-laws. code of regulations or other constituent document of the Condominium - Proiect. B. Hazard Insurance. So long as the Owners Association maintains a"master" or "blanket" policy on the Condominium Proj¢ct which provides insurance coverage against fQe, 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 may require, then: ~ ~ (i1 Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one- twelkh of the premium installments for hazard insurance on the Property: (ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied; and (iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any provisions ot the declaration, by-laws, code of regulations or other constituent document of the Condominium Project or of applicable faw to the extent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 pr¢ceding sentence shall be deemed - to have no force or eHect_ Borrower shal) give Lender prompt notice of any lapse in such hazard insurance coverage. In the event of a distribuNon of hazard insurance proceeds in lieu oi restoration or repair following a(oss to ; the Property, whether to the unit or to common elements. any such proceeds payable to Borrower are hereby i assigned and shaU be paid to Lender for application to the sums secured by the security inshument. •with the ~ excess, if any, paid to Borrower. ` C. Lender`s Prior Consent. Bonower 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 provided by law in the case of substantial deshuction by fire or other casualty or in the case of a , taking by condemnation or eminent domain; ~ (ii) any rnaterial amendment. to the declaration, by-laws or code of regulations of the Owners ~ Association, or equivalent constituent document of the Condom:nium Project. including, but not limited to. any ~ amendment which would change the percentage interests of the unit owners in the Condominium Project; or s ~ (iii) the effectuation of any decision by the Owners AssociaNon to terminate professional management and assume seif-management of the Condominium Project. ~ D. Remedies. If Borrower breaches Borrower's covenants and agreements hereunder. including the ~ covenant to pay when due condominium assessments, then Lender may invoke any remedies provided ~ under the security instrument. including, but not limited to, those provided under Uniform Covenant 7. ~ ~ IN WITNESS WHEREOF. Borrower has executed this Condominium Rider. , ~ 443083 , f919 HAY -3 1~ i~ 44 ~ Norm n thbau rried adult -~'"°we' Y fIlEO ANO RECORDEO ' ST.lUC1E CdUltTY.FLA. ~ x ~ ROGER POITRAS C~ERKCiRCUSTCOU Chester I. George, a married adult-B°"°'"~' ; aECORO vE~F~~a CONDOMINIUM RIDER-~ ro 4 Family-6i75-FNMA/FHLMC UNIFORM INSTRUMENT ~ ~ ~ ~ ~ ~ ~ , Form 25o BODIS ~U~ PAGE J~1, ~ . ~ ~ i r .i~ +sz~a-~ ,3 y * : i :sx ~ ~ ~~~~.,.~;x~-~'.~~.~ K.{~ ~z:.... , _ , r~~;"~_