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P~lRST P~EDERAL SAVINGS AND LOAN ABSOC:IATION
OF FsORT PIERCE
CONDOMINIUM RIDER
THIS RmER is made this 7~h .........day of ,September
19 ~ and is inoorporaled into and shall be deemed b amend and supplement a Mortgage, Deed of Trust
a Deed to Secure Debt "senu~? instrurr~ent"j dated of even date herewith, given by the under~gned
(herein "Borrower's to sense Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT ~
4~-~ttdpiper ~iv~ ~er~Ce, Fi " 3~" in the security instrument and
located at . _ a ' .
ter ~aa..M
The Property comprises a urn in, together with an undivided interest M ~ common elements of, a condominium
project known as . N1~PQ~~'!T QF FORT PIERCE. -
a Co~dowr~rs oaKo
(herei? "Ca~dorninium Project"1
CONDOMINIUM COVENANTS. In addition to the covenants and agreements_ made in the security insirument,
.Borrower and Ixrrder further covenant and agree as follows: -
A. ~Meeesseat~. Borrows: shag prompdy pay. when due. _ an assessments imposed by -the Owners
Association or other governing body of the Condominium Project (herein "Owners Association") pursuant to the
provisions of the dedarat3on, by-laws, code of regulations or other constituent document of the Condominium _
Project.
8. Hasard hsuranoe. So long as the Owners Assodation maintains a "master" or "blanket" policy on the
Condaniirm Project which provides iru~aanoe coverage agairut fire, hazards included within the term "extended
coverage,' acrd such other hazards as Lender may require, and in such amounts and for such
Periods as lender may request then'
(i) Lender waives the pavilion in Uniform Covenant 2 for the monthly payment to Lender of one- _ -
tweWh of the pranium butammarts for hazard insurance on the Property;
Borrower's obbgation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Prroperty is deemed satisfied; and
- the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds
shat be superseded by any provisions of the declaration, - by-laws.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 confNct between
such provisions and the provisions of Uniform Covenant 5. -For any period of time during whkh such hazard
I'~ iruuranoe oov~erage ig not ma~tained, the ~nr~diately preceding sentence shall be deemed to have
no farce a _ Borrower shall give Lender prompt n~ic¢ of any lapse in such hazard insurance coverage.
In the event of a distin'bution of hazard euuranoe proceeds in lieu of restoration or repair following a kns to
the Property. whedrer to the unit or to common elements. any such proceeds payable to Borrower are hereby
assigned and shat be paid to Lender for application to the sums secured by the security instrument, •with the
excess. if any, Paid m Borrower-
C. - heoders Prior Coolest. Borrower shall not, except after notke to Lender and with Lender's prior
wridtar consent, partition a subdivide the Property a cwuent to:
(Q 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 casuahy or in the case of a -
talang by condemnation or eminent domain; _
- any material amendment to -the declaration, by-laws or code of regulations of the Owners
Association, a equivalent constituent document of the Condominium Projed, including, but not limited to, any _
amendment which would change th¢ percentage interests of the unit owners in the Condominium Project; or
~ the effectuation of any decision by the Owners Assodation to terminate professional management -
ard assume self-management of the Condominium Project.
D. Resedies. N Borrowrer bra Borrower': cova~arns and agreements hereunder. including the
covesant •o pay whin due corwforaidum smarts, then Calder may invoke any remedies provided
wader the senehyt , isrduding. but not limited to, those provided under Uniform Covenant 7.
IN W;TNESS Wfil•REOF, Borrower has executed this rum R -
4f~0942 - -
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ftt.ED ANp oEtWWEU ~ F. i SChe ~
iZZiICIE C61Ntilf FLA.
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(~NDOMINIUM RIDER-1 b t F~-6/75-FNt~IA/FHLMC UNIFORM.INSTRU~IENT -
B~x3~.7 P~~.945