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' ~ S-5867 CSM/ab
PLANNED UNIT' DEVELQPMENI' RIDER
Tttts PI.ANNIiI) UNIT Dt:VI:I.Ot'MFNT ("PUD") Rtnt:R Is made this..... ~r~
.................day of
...July...... 1 y . 79.. and is incarlx~ratcd into and. shall be deemed to amend and supplement
a Mortgage, Ihed of Trust or Ik~ed to Secure lkht (hercitt "security instrument") dated of even date herewith, given by
the undersigned (herein "13orrowcr'") to secure Borrower's Notc to..$YAN. FIKArIGT~. ~~RVI?OS$$r . T~G•...... .
.(herein "Lcndcr") and covering the Propp~~,,rty described in the
security.instrumcnt and located at.~$~ $pa~>~~~g9 . C~.uste~, . X400. South ,O~epn, Dr ,Fort. Pierce i
IP~oarb Addrus)
.$1Vx~dp,.. ~~4~4 The Property comprises a oarccl of land improved with a dwelling, which. together with
other such reels and certain common areas and facilities, all as described in. Declaration of Condominium -
;g~pFdec~3~n ,Q~fical Record Book 296; ,Pales 1438-1510, as attiendeii and recorded in ~UIL
ggok '300 Page 212-221 as~ amended anil~ recorded in~ OIt Boole ~~8~,~ Pages ~ii~9=1~`l3 ali~of
be p d' of 'S~ ' Lu' fie: C u~t: g~ Kidd ' ' ' '
( rein ~~dra~orfi ~ortns a planned untt c~evclo~ihcnC~Cnown as. ~achtree , I ,Ouster , , , , , , , , , , , , , , , ,
(Naeno or wsnnsd Unit nevelopment)
(herein "PUD").
. PL,?NNEO UNIT DEVELOPMENT COVENANTS. In addition to the covenants and agreements made in the security
instrument, Harrower and Lcndcr further covenant and agree as follows:
A. ,PUD Obligations. Borrower shall perform all of Borrowers obligations under the: (i) Declaration; (ii)
articles of incorporation, truss instrument ur any eyuivaicnt du~:uuic:nt rc;yui~c:J to establish the homeowners
association or equivalent entity managing the common areas and facilities of the PUD (herein "Owners Association");
and (iii) by-laws, if any, or other rules or regulations of the Owners Association. Borrower shall promptly pay, when
due, all assessments imposed by the Owners Association.
B. hazard Insurance. !n the event of a distribution of haiard insurance proceeds in lieu of restoration or repair
following a loss to the common areas and facilities of the PUD, any such proceeds payable to Borrower are hereby
assigned and shall be paid to Lcndcr for application to the sums secured by the security instrument, with the excess,
if any, paid to Borrower.
C. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to
Borrower in connection with any condemnation or other taking of all or any part of the common areas and facilities
of the PUD, or for any conveyance in lieu of condemnation, arc hereby assigned and shall be paid to Lender. Such
proceeds shall be applied by Lender to the sums secuccd~by the security instrument in the manner provided under
Uniform Covenant 9. ~ _
D. ~ Lender's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior written
consent, consent to:
(i) the abandonment or termination of the PUD;
(ii) any material amendment to the Declaration, trust instrument, articles of incorporation, by-laws of the
Owners Association, or any equivalent constituent document of the PUD, including, but not limited to, any
amendment which would change the percentage interests of the unit owners in the common areas and facilities of
the PUD;
(iii) the effectuation of any decision by the Owners .Association to terminate professional management and
assume sell-management of the PUD; or
(iv) the transfer, release, encumbrance, partition or subdivision of all or any part of the PUD's common areas
and facilities, except as to the Owners Association's right to grant casements for utilities and similar or related purposes.
lEw Remedies. If Borrower breaches Borrow•cr's covenants and agreements hereunder, including the rnvenant
to pay when due planned unit development assessments, then Lender ma~• 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 PUD Rider.
• -
J N . MOUG I S
. (.C.
• -Borrower
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PLANNED UNIT DEVELOPMENT RIDER t to 4 Fmn~~r-t?ns-fNwurFetwc utttFORM tttsTRUwEt~r
a~3~4 PEE 331