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FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OR FORT PIERCE
CONDOMINIUM RIDER
THIS CONDONpNNM RIDER is made this , 9th ~y of .....August .
19_ and_is incorporated into and. shall be deemed to amend and supplement aMortgage, -Deed. of Trug
or Deed to Secure Debt (herein "security instrument's dated of even date herewith, given by the undersigned
(herein "Borrower") to secure Borrower's Npte to FlRST FEDERAL SAVINGS AND LOAN ASSOC)ATION OF
FORT PIERCE (herein "Lender's and covering the p~o~er~~ described in the security instrument and
bated at ~~~~Q SO4th, AAA,, . ~ensgn Beach, Florida .
~.nr aaer.w
The Property comprises a unft in. together with an undivided interest in the common elements of, a condominium
project known as ...............OCEAKRI$~ .
aaT. a conea~rMn ~oNeq
(herein "Condominium Project").
CONDOMINIUM COVENANTS. In additbn to the covenants and agreements made in the securfty instrument,
Borrower and Lender further covenant and agree as fopows:
A. Assessments. Borrower shad promptly pay, when due, ap assessments imposed by -the Owners
Association or other governing body of the Condominium Project (herein "Owners Association'? pursuant to the
provisions of the declaration, by-laws, code of regulations a other constituent document of the Condominium
Project.
B. Hazard Inanance. So bng as the Owners Associatbn maintains a "master" or `blanket" polky on the
Condominium Project whkh provides insurance coverage against fire, hazards inducted withht the term "adended
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
(ill) the provisbns 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shall be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent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 appikable 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 shag 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 restoration or repair fopowing a bss to
j the Property, whether to the unft 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 securfty instrument, •with the
excess, if any, paid to Borrower.
C. Lenders Prior Consent. Borrower shall not, except after notke to Lender and wfth Lenders prbr
s 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 casuaky ce in the case of a
taking by condemnatbn or eminent domain;
(U) 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 limfted to. any
amendment whkh would change the percentage interests of the unit owners in the Condominium Project: or
(iii) the effectuatbn of any decision by the Owners .Association to terminate professbna! management
and assume self-management of the Condominium Project.
D. Remedies. N Borrower breaches Borrower's covenants and agreemenb hereunder. including the
covenant to pay when due oondomWum assessments, then Lender may imwlce any remedies provided
under the security instrument, including. but not limited to, those provided under UnNorm Covenant 7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
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CONDOMINIUM RIDER-1 to 4 Family-6/75-FNMA/FHLMC UNIFORM INSTRUMENT
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