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FIR8T FEDERAL SAVIN08 AND LOAN ASSOCIATION
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OR FORT PIERCE
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CONDOMINIUM RIDER ,
THIS CONDOMINIUM RIDER is made this Qth........... day of AIJ9USt, , , . , . , , ,
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 instruments dated of even date herewith, given by the undersigned
(herein "Borrower") to secure Borrower's Note to FIRST FEDERAL SAVMGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender") and covers the Property described in the security instrument and
bcated at ..1A31Q South.AlA.,.~ensen beach. ,F.1Qri.da..334~7 . . . . . . .
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The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium
project known as QCEAf~R SE .C.ONUQM~NItIM .
a ConaomfnNNn aol.~n
(herein "Condominium Projed'~.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Bonrower and Lender further covenant and agree as fopows:
A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owners
Associatbn or other governing 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
Project.
B. Hazard Insurance. So bng as the Owners Associatbn maintains a "master" or "blanket" polky on the
CondomWum Project which provides insurance coverage against fire. hazards irkluded wRhin 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
shall be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent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 rovisions and the
p provisions of Uniform Covenant S.--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 any lapse in such hazard insurance coverage.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to
the Property, whether to the u_ nit or to_ common elem_ ents, any such proceeds .payable to Borrower are hereby ~
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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. Lender`s Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prior 1
written consent, partition or subdivide the Property or consent to:
(i) the abandonment or tem?ination of the Condominium Project, except for abandonment. or #
termination provided by law in the case of substantial destruction fire or other casu
talon ~ ally or in the case of a ~
g 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 which would change the percentage interests of the unit owners in the Condominium Project; or
(iii) the effectuation of any decision by the Owners Associatbn to terminate professional management ,
~ and assume seN-management of the Condominium Project.
D. Remedies. If Borrower breaches Borrower's covenants and agreemenb hereunder. including the
~ covenant to pay when due condominium assessments. then lender may invoke arty remedies provided
under the security instrument, including, but not limited to. those provided under Uniform Covenant 7.
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iN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
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CONDOMINIUM RIDER-t ro Family-6/75-fNMA/FHIMC UHIFOR i u Borrower
Robert Barnickel
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