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- FIRST FEDERAL SAViNt~S AND LOAN ASSOCIATION -
OR FORT PIERCE
- CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made this .......28th , , _ , , , , ~y of , , , ,September, , , , _
19 79. and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Tnist
or Deed to Secure Debt (herein "security instrument's dated of even date herewith, given by the undersigned
(herein "Borrowed to secure-Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender's and covering the Property described in the security instrument and
located at ......10310 Soyth. AlA, .Jensen Beach, • f i orida...:.. • .
iwov.nr Adan.p
_ The Property comprises a unit in. together with an undivided interest in the common elements of, a condominium
project known as OCEANRISE .
nwn. w ConeonwNan ~o
(herein "Condominium Project's. _ t
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as foibws:
A. Assessments. Borrower shall prompdy pay, when due, all assessments imposed by the Owners
Association or other governing body of the Condominium Project (herein "Owners Association's pursuant to the
provisions of -the dedaration, by-laws, code of regulations or other constituent document of the Condominium
Protect.
B. Hazard Insurance. So bng as the Owners Assocation maintains a "master" or "blanket" polky on the
Condominium Project which provides 6u~uanoe coverage against fire, hazards inducted within the term "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 provisbn in Uniform Covenant 2 for the monthly payment to Lender of one-
twelfth of the premium installments for hazard insurance on the Property;
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satLdied; and -
(iii) the provisions in Uniform Covenant 5 regarding applkation of hazard insurance proceeds
shall be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent
document of the Condominium Project or of appikabl¢ 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
insurance coverage is not maintained, the immediately preceding sentence shall be deemed to have
'G no force ~r effect. Borrower shall give Lender prompt notke of any lapse in such hazard insurance coverage.
~ In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair folloK~ing a loss to
~ the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
assigned and shall be .paid to Lender for applkation to the sums secured by the security instrument, •with the
excess, if any, paid to Borrower.
C. Lender`s Pdor Consent. Borrower shall. not, except aker 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 de_ _st_ruction by fire or other casualty or in the case of a
taking b_
y 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 whkh would change tl-?e percentage interests of the unit owners in the Condominium Project; or
(iii) the effectuation _of any decWon by the Owners Association to terminate professional management
and assume self-management of the Condominium Project.
D. Remedies. if Borrower breaches Borrowers 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 limited to. those provided under Uniform Covenant 7.
IN WITNESS WHEREOF, Borrower fias executed this Condominium Rider.
46.199 -
FILEO AND RECOxutO ichard E. Rubi
ST.LUCIE COUNTY.FIn.
ROGER POITRAS
CLERK CIRCUIT C T d Ol S U n
-8onowr
ttl:COttO VERIFiffl. -
CONDOMINIUM RIDER-1 to ~ family-6/75-FNMA/FHIMC UNIFORM INSTRUMENT
2~ e3~.~' P~~2~~51 -