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RIRST FEDERAL SAVINGS AND LOAN ASSOCIATION '
O1~ FORT PIERCE
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CONDOMINIUM RIDER - f
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THIS CONDOMIMUM RIDER is made this 13th .day of ...September - ~
19 and b incorporated into and shop be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed to Secure Debt (herein "security instrument's dated of even date herewith, given by the undersigned
(herein "Borrower's to secure Borrower's Note to FIRST FpEroD,~EeR~A,L SAVI~NG~S AND LOAN ASSOCIATION OF
F~O,aR~ PIERCE. 0' 10i,3n~0. Sgyth~ AlA, ,Jensen ~dch, Flol"ida~,
.33457 ~e security Instrument and
~ao•nr iwaw.p ,
The Property comprises a unit in, together with an interest in the common elements of, a condominium
project known as OC~u~.R
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- pwn~ w Ooneonwwi.n ~
(herein "Condominium Proje~=+'7. -
CONDOMINIUM COVENANTS. In additbn to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as foilows:_
A. -Assessments. Borrower shag prompBy pay, when due, ap assessments imposed by the Owners
Association or other governing body of the Condominium Project (herein "Owners Association's pursuant to the _
provisions of the declaratbn, by-laws, code of regulations or other constituent document of the Condominium
Protect. _ -
_ B. Hazard Inarrance. So long as the Owners Association maintains a "master" or "blanket" polky on the
Condominium Project ~ whkh provides insuuancee coverage a~aMst fire. hazards induded within the term "extended
coverage," and such other hazards as Lender may roquire,~ and in such amounts and for such
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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 instapments for hazard insurance on the Property:
(U) Borrower's obligation under .Uniform Covenant S io maintain hazard insurance coverage on the
Property is deemed satisfied: and -
(W) the provisions in Uniform Covenant 5 regarding applkatbn of hazard insurance proceeds
shop be .superseded- by any provisions of the declaration, by-laws, code of regulations or other constituent
document o~ the Condominium Project or of appikable law to the extent necessary to avoid a confikt 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 shall give ~_¢nd¢r prompt notke of any lapse i~ such hazard insurance coverage. _
In the event of a distribution of hazard insurance proceeds in Heu of restoratbn or repair following a loss to
the Property, whether to the unit or to common elements, any such proceeds payable to - Bon ower are hereby
assigned -and shay be paid to Lender for application to the sums secured by the security instrument, •with the
excess, if any, paid to -Borrower.
j C. ~I.endel`s Prior Consent. Borrower shop 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
termination provided by law in the case of substantial destruction by fire or other casuahy or in the case of a
taking by condemnation or eminent domain;
(ii) any materiat 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-whkh would change the percentage interests of the unit owners in the Condominium Project; or
(W) the effectuation of any derision by the Owners Associatbn to terminate professional management
and assume self-management of the Condominium Project.
D. Remedies. If Borrov~ret breathes Borrower's covenanb and agreements hereunder, including the
covenant to pay when due eorrdombrium assessments, then Lender may hnrolce arty remedies provided
~ under the security instrument, iincluding, but not Nmited to. those provided. under Uniform Covenant 7.
iN WITNESS WHEREOF, Borrower has executed this ndominium
~gTg p~~ -Z AI. X 4 4 H 1 0.1~,o~use r a marr a adu t
Giu1Ei1 v "1/•
FILEO AND REC
~tibalEtt~i~oRRas~. Bo N 1 son ~ a rr d adul t - -s°"°'^" i~
CLERK CIRCWT C~ Q~ v
RtcaRO•`E~tfi~o-9~ -~-"t.4s`/~3 J C. Woodbury , a married a lt -8«•0•.?
CONDOMINIUM RIDER-t to ~ Family-6/75-FNMA/FHIMC UNIFORM INSTRUMENT
~ - so~~3~.7 P~E1950 -