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FIRST FEDERAL SAVINCiB AND LOAN ASSOCIATION
OR FORT PIERCE -
. CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made this .......1.3~h ........day of August .
19 .T9.., and Is incorporated into and shop be deemed to amend and supplement a Mortgage, Deed of Trust
or -Deed b Secure Debt (herein "security instrument") dated of even date herewith, given by the under~gned
(herein "Borrower'? b secure Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender's and covering the Property described in the security Instrument and
located at 1Q3~0 .SAULh AlA ~ensQn ~acn., . Fl o~'~ da .
s~oo~r ~ae~...?
The Property comprises a unit in, together ~R,pIS interest in the common elements of, a condominium -
project known as ~t .
p+.~p. a condoww~rn ww.ea
(herein "Condominium Project'q.
CONDOMIMUM COVENANT'S. In. additbn to the covenants and agreements made in the security instrument,
Borrower- and Lender further covenant and agree as fopows:
A. Assessmenb. Borrower shop promptly pay, when due, ap assessments imposed by the Owners
Associatbn or other governing body of the Condominium Protect (herein "Owners Association's pursuant to the
provisions of the declaration, by-laws, code of regulatbns or other constituent document of the Condominium
Protect. -
B. Hazard Insurance. So bng as the Owners Associaton maintains a "master" or "blanket" polky on the
CondomWum Project which provides ir>atuance coverage against fire. hazards inducted 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 application of hazard insurance proceeds
shop be superseded by any provisions of the declaratbn, by-laws, code of regulations or other constituent
- document-of- the Condominium Project or of applicable law- b-.the..extent-necessary -to avoid a conflkt between - -
such provisions and the provisbns 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 dishibutbn of hazard insurance proceeds in lieu of restoration or repatr fopowing a loss to
the Properly, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
j assigned and shall be paid to Lender for application to the sums secured by the security instrument, •with the
f excess, if any, paid to Borrower.
- C. Lerrdei's Prior Consent. Borrower shall not, except after notice to Lender and with Lenders 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 destructbn 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- Hmited to, any
amendment whkh would change the percentage interests of the unit owners in the Condominium Project; or
(iN) the effectuation of any decWon by the Owners Associaton to terminate professbna) management
and assume self-management of the Condominium Protect.
D. Remedies. U Borrower breaches Boriowrer's oovaranb and agreements hereunder, including the
covenant to pay when due condominium assessment, then Lender may involve 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.
45f>312
1979 AUG 27 A!~ ~ 27
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/ CONDOMINIUM RIDER-t to 4 Famatr-6/75-FNfAA/FHL~tC UNIFORM INSTRUfWENT .
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