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FIRST FEDERAL SAVINGS AND• LOAN ASSOCIATION
OF FORT PIERCE
L'ban ~ ~02-23057464
CONDOMINIUM RIDER
s
.day of..
TNIS CONDOMINIUM RIPER lS made this....... ?nd , , , - August_
19..7.Q, and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of 'Trust or Ih:ed s
to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned (herein
"Borrower") to secure Borrower's Note to...... FIRST .FEDERAL SAVINGS. AND .LOAN. ASSQCIATIflt1 .OF f
.....FORT. PS>rACE..... (herein "Lender) and cowering the Property described in the security instrument, and
located atPP.1i...3~1-C..~. High .P.oiot. -......Fort. Pierce,. F]or:i.da ....33454
• (PropMy Addreul
The Propert} comprises a unit in, together with an undivided interest in the common elements of, a condominium
.project known as. Phds4 .4f : b~~. PQ~NT:4F. FQR>;-.P.IERC~~ CONQOMINILIM>..SECTION. Id. • - • • • • • •
(Name o1 Condominium Project) •
(herein "Condominium Project").
COtiDOAtINIUM CO~•ENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree az follows:
A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owner$ Association
or other governing 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 Project.
B. Hazard Insurance. So long as the Owners Association maintains a "master" or "blanket" policy on the
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 may
require, then:
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one-twelfth
of the premium installments for hazard insurance on the Property;
(ii) Borrower's obli~eation 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superseded by an}• provisions of the declaration, by-laws, code of regulations or other constituent document of the
Condominium Project or of applicable law 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 preceding sentence shall~be deemed to have no force or effect. Borrower shall give
Lender prompt notice of am• lapse in wch hazard insurance coverage. -
1n the event of a distribution of hazard insurance proceeds in lieu of restoration or repair followine a loss to
the Property. whether to the unit or to common elements. any such proceeds payable to Borrower are hereb}• assigned
and shall be paid to Lender for application to the sums secured by the security instrument, with the cr?c~ss, if any -
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 Propem 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 casualty or in the case of a taking b}• condemnation
or eminent domain:
(ii) an}• material amendment to the declaration. by-laws or code of regulations of the Owners Association,
or equivalent constituent document of the Condominium. Project. including. but not limited to. an}• amendment which
. would change the percentage interests of the unit owners in the Condominium Project; or
(iii) the effectuation of any decision bt~ the Owners Association to terminate professional marzaeement and
assume self-management of the Condominium Project.
D. Remedies. If Borrower breaches Borrower's co~~enants and agreements hereunder, including the covenant ;
to pa. when due condominium assessments, then Lender mad in.oke am remedies provided under the securih
inUrument. including. but not limited to, those prodded under l'niform Co~~enant 7. ~
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IN VV~T~rtis W'HEttEOF. Borrower has rxccutrd this Condominium Rider.
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19T9 ~U6 -8 PM 3 21
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s Camille A. Palmacci, a single adult -8o'r'"'ef
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