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FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION '
OF FORT PIERCE
CONDOMI~1IUn~i RIDER loan ~ 02-23058546
Tats CONt~MINIt:M Rti)6R is made this...... 29th ...............day of AUgUSt• - _ , . _ . , _ _
19.79., and is incorporated into and shall be deemed to amend and supplement a Mongage; peed of Trust or Deed
to Secure Debt. (herein "security instrument") dated of even date herewith, given by the undersigned (herein
`Barrov?•ei")--to secure-Borrower s Note to FIRST .E'EDERAL .SAYINGS. AND .LOAN. ASSOCIATIAN .OF . .
.FORT. P~EI;C$..... (herein "Lender") and covering the Property described in the security instrument and
located at...2302. ~~nri,ge.6oullyvard, .ApL,. 2IIZ, .Suild3rut .3 .Fort. Pierce, •~~or~da• • •33459-•
(Property Address) - i
The Property comprises a {l~t,~p, Igg~t,~rC~(}~g~}l~Uv;ded interest in the common elements of, a condominium
project known as...........tl..F.IE~.~.t....rl.W..llr. l.. N.1 t
(Name of Condominium Project) c
(herein "Condominium Project").
CoNi)OINtN)UM 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 shall promptly pay, when due, all assessments imposed b} the Owners Association
or other governing body of the Condominium Project (herein "Owners Association") pursuant to the provisions of the
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declaration, by-laws, code of regulations or other constituent document of the Condominium Project. ~ ~
B. Hazard Insurance. So long as the' Owners Association maintains a "master' or "blanket" policy on the
Condominium Project which provides insurance coverage against fire, hazards included within the term "extended
coverage: 'and such other hazards as Lender may require, and in such amounts and !or 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 F
of the premium installments for hazard insurance on the Property;
(ii) Borrower's obligation under Uniform Covenant 5 is maintain hazard insurance coverage on the !
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant S regarding application of hazard insurance proceeds shall be
superstded b)• an}• 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 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 rnverage.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair follawine a loss to
the Property, whether to the unit or to common elements, any such proceeds pa}•able to Borrower are hereb}' 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. Aorrower shall nat. 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 tlt~: Condominium Project. except for abandonment or termination
- provided by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation
or eminent domain;
(ii) an}• material amendment to the declaration. by-laws or Cade of regulatior><c of the Owners Association. - j
or equivalent constituent document of the Condominium Project. including, but not limited to, any amendment ,which j
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 professions] management and
assume self-management of the Condominium Project.
D. Remedies. tf Barmwer breaches Borrower's co~•en~nts and agreements hereunder, including the covenant
to py} when due condominium assessments, then Lender ma}• invoke any remedies pro~•ided under the securit} {
instrument. including, but not limited to, those prodded under L:niform Covenant 7.
IK K~)T!?1-.SS V1'HEREOF, B~~rrower has executed this Condominium Rider.
1919 SEP -4 PN ~ 59 r
LUG RECOftOEG ~n W. Murray -6ono«er
c••vEt~tEO-~ 4~~~l~anor M. Murray -$~~r~~•
45'7238 ~919.SEP ~7 A!. ; 45 ~ Re-Read
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