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FIRST FEDERAL SAVINGS AND LOAN A88OCIATION
OF FORT PIERCE
CONDOMINIUM RIDER
THIS CONDOMMIUM RIDER is made this ........13th , , , , , , , day ~ August
19 .79.., and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed 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 SAV[Nt;S AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender's and covering the Properev described in the security instrument and
located ac , , , ~03~Q South, AAA, _ Jensen Beach, ,Florida, , , , , , , , , , , , , , , , , , , , , , ,
t~o«rr Aea~.ast
The Property comprises a unit in, together v~Ry~SE interest m the common elements of, a condominium
project known as .
lNanw w oo~wonwrww aol.ea
(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 chap promptly pay, when due, all assessments imposed by the Owners
Associatbn or other governing body of the Condominium Project (herein "Owners Association") pursuant to the
provfsbns of the declaratbn, by-laws, code of regulations or other constituent document of the Condominium
Protect.
B. Harvard Iraruance. So bng as the Owner Assodatbn maintains a "master' or "blanket" . poNcy on the
Condominium Project whkh provides insurance coverage against fire. hazards included within the term "extended
coverage," and such other hazards as Lender may requtre, 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 instapments for hazard insurance on the Property;
(ii) Borrower's obligatbn 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shop be superseded by any provisions of the declaration, by-taws, code of regulations or other constituent
document of the Condominium Project or of applkable 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-whkh-such hazard-- _ _
insurance coverage is not maintained, the immediately preceding sentence shop be deemed to have
no force or effect. Borrower shop give Lender prompt notke of any lapse in wch hazard insurance coverage.
'f~ In the event of a distributbn of hazard insurance proceeds in lieu of restoratbn or repair folbwing a bss to
the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
I
~ assigned -and shop be paid to Lender for application- to the sums- secured-by-the security-instrument; •with the
excess. if any, paid to Borrower.
I C. I.ender•'s Prior Consent. Borrower shay not, except after notke 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 casualty or in the case of a
taking by condemnatbn 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 professbnal management
and assume self-management of the Condominium Project.
D. Remedies. if Borrower breaches Borrower's covenants and agreements hereunder, including the
covenant to pay when due condominium assessments. then tender may invoke arty remedies provided
under the security instrument, including, but not Hmited to, those provided under Uniform Covenant 7.
IN N~ITNESS WHEREOF, Borrower has executed this Condominium Rider.
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Elizabeth Ly en -s~o...
CONDOMINIUM RIDER-t to + Fanny-6/75-FNMA/FNLMC UNIFORM INSTRUMENT
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