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Home My WebLink About0331 • a 1 • t ' ~ ` t ...L. ~a~1~ 1~C)IVI~htIUM ItYDER j r COtit~oAtIN1C~1 RIDEa Is made this....... , .,lQ............day Of . t 19. ~ll, anJ is in~a;aorated into Inc, shall b~ deemed to amend and supplement a Mort ' ,Decd of Trost or Dced , a~ S•rcure Debt (herein "security instrument") dated of even dace herewith, given by the undersit:ncd therein "Borrower'") to secure Borravrrri Note to..1;~$~YH~.~~A~Rl~4 .~~l~l~t~~. ANR.i.Q~N. AS.$QG~AT~O~I , _ , . , (herein "Lcndcc') and covering the Property described in the security instromcnt and i loran-d at . , . , , , ~,pt :.No; 6122., 24t)~. S Ocuan. Dr . Fort:' Pierce, •FL, .33451) , ' ' , • ' • • • . , . ' • ' . troo.:ty Maass) The Property rnmprses a unit in. together with an undivided ~interest_in the common elements of, a condominium - - pmj<-ct known asBEACHTRfiB II I tN+~ a Conaweiaium wo;.ctr - (herein "Condominium Project").. CO~aostlNlUt~t CbVENANts. - In .addition to the rnvenants and agreements made in the security instrument, 3 Borrower and Lender further covenant and agree as follows: - A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Ownt:rs Association or other go~•crnrng body of the Condominium Project (herein "Owners Association") pursuant to the provisions of tier declaration, by-laws, code of regulations or other constituent document of the Condominium PrD~ •.t. - - - B. 1lazard Insurance. So bag as the Owners Association maintains a "mastar" or "blar:rcet" pa:icy on the Condominium Project which provid~~s_insurance coverag4 against fire. hazards included within the term "extended coverage; 'and such other haz_ arils as Lender may require, and in such amounts and for such periods as Leader may require, then: - - (i) Lcndcr waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one-twelfth of the premium iestailments for hazard insurance on the Property; - ~ - (ii) &~rrowe~ s obligation under Uniform Covenant S to maintain hazard insurance ~ coverage on the Property is deemed satisfied; and - - (iii) the provisions in Uniform Covenant S regarding application of hazard insurance proceeds shat! be super.~edcd b~ am provisions of the declaration. by-+aws; code of regulations or other constituent documen: of the Condorninium•Pmjcct.or•of applicable law to the extent neccsssrry~to-avoid a conQict between such provisions and the provisions•af l~niform Covenant 5. For any period of time during which suc}~ `.:....aril insurance coverage is not maintained,~the immediatel;• preceding sentence shall be deemed to have no force or effect. Borrower,sball give Lender prompt notice of anY lapse in such hazard insurance coverage. l In the event of a distribution of hazard insurance prosetds in lieu of restoration or repair following a lass to -the Property, w'fiet/rer ro the unit or ro rnmmon elements, any such pro~creds payable to Bonrowrc ane bearby assigned and ehall be paid to Linder for application to the sums secured by the security instrument, with the excess, if any. paid to Bormv?~cr. - _ C. -Lender's Prior Conscat. Borrower shall riot, except after notice to_ Lender and with Lender's prior written consent, partiti~m or subdivide the Property or consent to: ~ ~ - i (i) the abandonment or termination of the Condominium Project, except for abandonment or termination provided by law in the case of substantial destruction by Ere or other casualty or in the case of. a taking by condemnation ar eminent domain; - - (ii) any material amendment to the declaration. by-laws or code of regulations of the Owners Association, iii equivalent constituent d.~cumcnt c>f the Condominium Project, including, but not limited to, any amendment which would chan_e the percentage interests of the unit owners in the Condominium Project; or i (iii) the eficctuation of any decision by the Owners Association to terminate professional management and - ? assume self-m:~nacemcnt of the Condominium Project. - - { D. Remedies. I[ Borrower breaches Borro~+er's covenants sad agreements hereunder, iudnding ibe cotenant to pay when due condominium assessments, then Lender way invoice say remedies provided nailer the security in~trumcnt, including, but not limited to, those provided sailer L'auform CO~eaaM 7. - IN WITNESS WHEREOF. Borrower hat executed this Condominium Rider. - - - . - . -Borras~er~ M. - _ -e«~owe.. -E ' - . ~ ~ y .-Borrosier •LIBBRA_J.. Y~s_ = ~ --eo.'°""`~ j t a~ -Borrower -Borrower 4'7~~ i O 's _ ,'ti rt.c Roi _ CQNa0frii~ilOM RIDER-tto~f~tT-c?~s-Fttru~~et.itc u~+t~o~ta eta:wt~tR f t.a R~s~ ST.t.II~,~ ,.,,,M _ 4t.~ ' .•~~t COUNT - ~ ~ ,lwa Z I i8 04 pM 480