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FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDER
THIS CONDOMIMUM RIDER is made this .......13th , , , , , , ,day of ....August
197.9..., and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed to Secure Debt (herein "securfty instrument's dated of even date herewith, given by the undersigned
(herein "Borrower") to secureg Borrower's Ngogte topgFIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein 10310 SOUth AlA,~Je the ~operty ~esMb~d in the security instrument and
located at .nsen , eac , ors a.................... .
c~oo«b wean.q
The Property comprises a unit in, together with an undivided interest to the common elements of, a condominium
project known as OCEANRISE............................... .
t~+.m. a co~eo~w,w~ aoi.eq
(herein "Condominium Project'1.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as follows:
A. Assessments. Borrower shall promptly pay, when due, aq assessments imposed by the Owners
Association or other gov¢ming body of the Condominium Project (herein "Owners Association's pursuant to the
provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium
Protect.
B. Hazard insurance. So bng as the Owners Assodatbn maintains a "master" or "blanket" polky on the
Condominium Project whkh 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 obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satisfied; and
(iii) the provisions in UnNorm Covenant 5 regarding applkation of ha2ard insurance proceeds
shop be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent
document of the Condominium Project or of applicable !aw to the extent necessary to avoid a conflkt between
such provisbns and the provisions of Uniform Covenant 5. For any period of time during whkh such hamrd
insurance coverage is not maintained, the immediately preceding sentence shat! be deemed to have
no force or effect. Borrower shall give Lender prompt notice of any lapse in such hazard insurance coverage.
II In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to
I the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
assigned and shall be paid to Lender for application to the sums secured by the security instrument, •with the
excess, if any, paid to Borrower.
C. Lenders Prior Consent. 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 by fire or other casuahy or in the case of a
taking by condemnation or eminent domain;
(ii) any 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, any
amendment whkh would change the percentage interests of the unit owners in the Condominium Project; or
(iii) the effectuation of any decision by the Owners Association to terminate professional management
and assume self-management of the Condominium Project.
D. Remedies. If Borrower breaches Borrowers 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.
nal E . an o -8«~~•
Carol L. Jankowski -ea.~.«
CONDOMINIUM RIDER-1 to ~ famiry-6/75-FNMA/FHLMC UNIFORM INSTRUMENT 4SF.Q32 ~
!9T9 Af1S 23 AN il~ 28
Fq,EO APIO RECD~EO
fT UICIE COUMTY.F~A.
R06ER POITRA
aEAII CIttCUIT COURT
Form 2~o i)fi3~.5 PAGE 262
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