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FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDER
TH~ CONDOMIMUM RIDER is made this 23rd.......... day of . ....August
19 and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust
a peed to Secure Debt (herein "secmuitSr instrument'ry dated of even date herewith, given by the undersigned
(hers "Bonower'1 to secmae Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "lxrmder'~ and overin~ the Pr described in the security instrument and
located at 1031U. St~.uLb AIA, J~ns~
eft . Bea~h,_ F1 orb da - -
1Proo«+s nea..sm
The Property comprises a unit in, together with interest in the common elements of, a condominium
project krmown as . . .
vw.. a c~do ~a
- - - - - _ - - -(herein "Condominium Pbject").
CONDOMQd1UM COVENANTS. In addiborm to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as follows:
A. Amts. Borrower shaft promptly pay, when due, aft assessments imposed by the Owners
A~odatiorm or other governing body of the Condominium Project (herein "Owners Association's pursuant to the
provisions of the dedairation, by-laws, code of regulations or other constituent document of the Condominium
Project_
B. hazard lasruarrce. So bng as the Owners Association maintains a "master" or "blanket" polky on the
Cormdorrmimium Project which povides iRUaanoe 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 requtre, then:
(i) I..ender waives the provision in Unifam Covenant 2 for the monthly payment to Lender of one-
twel#th of the premium insta8rrmermts for hazard insurance on the Property:
Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satidi¢d: and
(mom the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds
shag be superseded by any provisions of the declaration, by-laws.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 provisions of Uniform Covenant 5. For any period of time during whkh such hazard
I'i irwuanoe coverage is not maintained, the immediately preceding sentence shall be deemed to have
no force or effect. Borrower sha0 give Lender prompt notice of any lapse in such hazard insurance coverage.
I >n the event of a disin~iitiorm of hazard 'insurance proceeds in lieu of restoration or repair folbwing a loss to
the property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
assigned and sha® be paid to Lender for application to the sums secured by the security instrument, •with the
I excess. if any. paid to Borrower.
~ C. tenders Prior Corasermt. Borrower shall not, except after notice 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
termirmation provided by law in the case of substantial destruction by fire or other casuahy or in the case of a
taldrmg by condemnation or eminent domain:
(o) any material amendment to the declaration, by-taws 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 awners in the Condominium Project; or
(m) the effectuation of any decisiorm by the Owners Association to terminate professional management
and assume self-management of the Condominium Project.
D. Remedies. H Borrower breaches Borrower's covenants and agreements hereunder, including the
eoveaaat to pay ~rherr drre cdmdominium assessments, then Lender may invoke any remedies provided
nnder the security irrstirument, irrchr~rg, but rat limited to, those provided under Uniform Covenant 7.
1tV WETNESS WHEREOF, Borrower has executed this Condominium Rider.
45'740'7
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CONDOMINIUM RIDER-m to 4 Fierily-ti/75-FNMA/fHLllitC UNIFORM INSTRUMENT
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