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' FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OR FORT PIERCE
CONDOMINIUM RIDER
TH79CONDOMIMUM RIDER is made this 9th ...........day of ,August
19 and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed to Secwe Debt (herein "security instrument") dated of even date herewith, given by the undersigned
(herein "Borrower') to secwe Borrower's Note to FlRST FEDERAL SA~VI~NGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Le 103~~0 Sout~tovl~Ag ~ensen
pBe~Chde F10ri~e the security instrument and
kuatedat
tP.oo«+r ~aon.st
The Property comprises a unit In, toQefher with an undivided interest in the common ek?.ments of, a condominium
project known as _ ea, r se .
t?i.~+. a coneom+nNMn vroNeq
(herein "Condominium Project") . -
CONDOMMIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender fwther covenant and agree as folbws:
A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owners
Associaton 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
Protect.
B. Hazard Insurance. So long as the Owners Association maintains a "master" or "blanket" policy on the
CondomWum Ptoj¢d 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 Uniform Covenant 5 regarding applkation of hazard insurance proceeds
shall be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent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 provi~ons of Uniform Covenant 5. For any period of time during whkh 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 notke of any lapse in such hazard insurance coverage.
In the event of a distribution of hazard insurance proceeds in lieu of restoratbn or repair following a loss to
the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
assgned and shall be paid to Lender for application to the sums secured by the security instrument, •with the
excess, if any, paid to Borrower.
f C. Lenders Prior Consent. Borrower shall not, except after notke 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 casualty or in the case of a
taking by condemnation or eminent domain; f
(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 arty remedies provided
under the security instrument, including. but not Ilmited to. th provided under Uniform Covenant 7.
Y IN WITNESS WHEREOF. Borrower has executed th niu Rid _
~ ~C~c~-z~ _ o ey rso a rr a u
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e
CONDOMINIUM RIDER-1 to 4 Family-6/75-FNMA/FHLMC UNI 'INSTRUMENT 45F,~~33
_ 1919 AUK 23 AM il~ 28
Fl~Ep- NCO RE TOR ~E ~
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- Form 250 - --3U]~~~-5 _Pa~E_ 26__ _ _ T~A~I_~
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