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- FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CO\TDOIVtI~IUiVI RIDER
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TtttsCo~taoltt:~tt:at RIDER is made this.......? ...............day of..... J~•................, ~
19. 79, and is inrnrporated into and shall be dr~med to amend and supplement a Mortgage, Dyed of 'Trust or Deed -
to Secure Debt (herein "security instrument") -dated of even date herewith, given b}• the undersigned -(herein
"Borrower") to secure Borrower's 'tote to...... FIRST .FEDERAL .SAVINGS. AND .LOAN. ASSOCIATIAII .OF i
.FORT. PIERCE (herein "Lender') and covering the Pr~rty described in the security instrument and
located at Wit. 627 ~ D,, ,High .point,, _ . _ , ~'t.. Piece a _ _ ~.~1}5Q _ . .
(Prdparty Address)
71te Property comprises a unit in, together with an undivided interest in the common elements of, a condominium
project known as ......Hiih. Point .ot . ~bTt. Piltroe ~ .
(rzsme of Condominium Proiccq
(herein "Condominium Project"). I
Co?•no~ttn)uHt COVENANTS- In addition to the covenants and agreements made in the securit}• instrument,
Borrower and Lender further covenant and agree as follows: -
4. Assessments. Borrower shall prompt]}• pay, when due, all assessments imposed b}• the Owners Assokiation
or other governing bod}• of the Condominium Project- (herein "Owners Association") pursuant to the pro.•isionc of the
declaration, by-laws, code of regulations or other constituent document of the Condominium Project. I
B. Natard Insurance. So long as the Owners Association maintains a "master"_ or "blanket" policy cm the E
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 for the monthly pa}'ment to Lender of one-twelfth
of the premium instalments for hazard insurance on the Propert}•;
(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superseded b}• an}• provisions of the declaration, b}•-laws, code of regulations or other constituent document of the
Condominium Project or of applicable law- to the extent necessan• to avoid a conflict betH•ecn wch provisions and
the provisions of Uniform Covenant S. For an}• period of time during which such hazard insurance coverage is not
ma'sntained, the immediately preceding sentence shall be deemed to have no force or effect. Borrower shall give
Lender prompt notice of an}• lapse in such hazard insurance co~•erage.
1n the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to
the Property, whether to the unit or to common elements, any such proceeds pa}•able to Borrower arc hcreb~ assigned
and shall be paid to Lender for application to the sums secured by the security instrument, with the excess, if ans.
paid to Borrower. - _
C. Lender's Prior Content. 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
provided by law in the case of substantial destruction b}• fire or other casualt}• or in the case of a taking b}• condrr~nation
or eminent domain; _
(ii) an}• material amendment to the declaration. by-laws or code of regulations of the Owners Association. ~
or eyuivalent constituent document of the Condominium Project. including, but not limited to. am. amendment which
wuuid change the perc.ntage interests of the unit owners in the Condominium Prc?ject: or
(iii) the effectuation of env decision b} the Owners Association to terminate pn>fes,ional mana,•cmen; and t
aswme self-manaeement of the Condominium Project.
D. Rrrnrdies. If Borrower breaches Borrower's cr?~enants and agrremer?ts hereunder. including the covenant '
Io pa} when due condominium a.crscments, then ].ender may imr?ke am mmedita provided• under the securih
inctrurnrnt, including, but not limited to, those pru~~ided under l'nifurm Co~enanl 7.
11 ~ 1T7~t.SS of RtOF . B.?rrou~r i:ac c:\r;u:r:; thi, Corrdotn~ -urn ider.
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CONDOMfN!UM RIDER i -E .':--FhM! FH:MC UNIFORM. 1NSTicuMENT