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FIRST FEDERAL SAYINC35 AND LOAN ASSOCIATION
OF FORT PIERCE
Loan ~ 02-23061748
CONDOMINIUM RIDER - ,
TH1~~ONDOMINIUM RIDER is made this , 20th , , , , .day of . ,September... _ _ . ~ _
19 and is incorpotated 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 herevinth, given by the undersigned `
(herein "Borrower's to secure~Borrower,'sd Note to__F1R~}S,T FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCf~,,,~},ie~0uth Fed~e~ala Kig~tw~?ns FOpi"tp~~e aed~n t1~34~'rity instrument- and
kxatedot
Nroo«~y ~aar.at
The Property comprises a unit in, together with an undivided interest in the common elements .of, a condominium
project known as HIGIIPQIKT. QF FQRT PIERCES SECTION ,II, _ _ _ _ _
twer w coraoTrWrn ~0
(herein "Condominium Project"). -
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument, _
Borrower and Lender further covenant and agree as fogows:
A. Assessments. Borrower shop 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
provi~ons of the d¢daration, by-laws, code of regulations . or other constituent document of the Condominium
.Protect.
B. Hazard Insurance. So bng as the Owners Assodation maintains a "master" or "blanket" policy on the
Condominium Project which provides insuuanoe coverage against fire, hazards inducted within the tens °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) Bomower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satisfied; and -
(iii) the provisbns in Uniform Covenant 5 regarding application of hazard insurance proceeds-
shall be superseded by any provisions of the dedaration, by-laws, code of regulatio;~s or other constituent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 shag give Lender prompt notice of any lapse in such hazard insurance coverage. .
In the event of a distnbction of hazard insurance proceeds in lieu of restoration or repair following a loss to
the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
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.
C. Lender`s Prior Consent. 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, expepi for abandonment or -
tennination 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) 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 Association to terminate professional 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 Lender may invoke any remedies provided
under the security instrument. including, but not limfted to. those provided under Uniform Covenant 7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. - -
46~6,~, 199 SEP 28 AN 9' 23
Gr/_
f0.f0 AND REC0ltlitU
5T ltiCiE COUNTY.fIA. WT am ear e -sa.o,.~.
:~tpt;:ER p01TRA5
CIRCUIT COyjtE~
~P'~'~~~ Diane S . Pearce . -8oro'`°'
CONDOMINIUM RIDER-t to 4 Family-t;/75-fNMA/FHLMC UNIFORM INSTRUMENT
OR
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