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RIRST 1=EDERAL SAVINGS AND j..OAN ASSOCIATION -
O!~ FORT PIERCE
CONDOMINIUM RIJ~ER E
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THIS CONDOMINIUM RIDER [s made this 12th........... day of ...Japuary .
19 gp and is incorporated into and shall be deemed to amend and wpplement a Moetgage, -Deed of Trust
or Decd to Secure- Debt (herein "security instrument") dated of even date herewith, given by the undersigned
(herein "Borrower) to secure Qorrower's. Note to FIRST FEDERAL SAVINGS- AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender') and covering the Property described in the security instrument and _
located at Apt: 519 C, •Ri8b •Point,. Ft.. Piexce, Fla.... 334510
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The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium
project known as .:.HIGH . l?OINT OF . F.O)ZT PII;RCB_ .
nom. w Cwieo~wdwn aoNeo .
(herein "Condominium Projed'~. 1
CONDOMINIUM COVENANTS. In addition to the covenants aRd agreements made in the security instrument.
Borrower and Lender further covenant and agree as fopows:
A. Assessments. Borrower shop promptly pay, when due, ap a_ ssessments imposed by the Owners ~
Association or other governing body of the Condominium Project (herein "Owners Association ~ pursuant to the
provisions of the dedaratbn, by-laws,'code,.of regulations or other constituent document of the Condominium
Project.
B. Hazard Insurance. So long as the Owners Associatbn maintains a "master" or "blanket" policy on the
Condominium Project which provides inwranox coverage against fire, hataris included within the term "extended
coverage," and such other hazards as Lender may requae, -and in wch amounts and for such
periods as Lender may require, then: - ~ ~
(i) Lender- waives the provision in Uniform Covenant 2 far the monthly ~ payment to Lender of one-
twelfth of the premium instapments for hazard insurance on the Property:
(ii) Borrowers obligation under Uniform Covenant 5 to maintain hazard irwrance coverage on the
Property is deemed satisfied; and
(ia) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds {
shop be supe-seded by any provisions of the declaration, by-laws, code of. regulations or other constituent
document of the Condominium Project or of applicable jaw to the extent necessary to _avoid a conflict between
such provisions and the provisions of Undorm Covenant 5. For any period of time during which such hazard
iriwrance coverage is not maintained, the immediately preceding sentence shop 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 distribution of hazard insurance proceeds in lieu of restoration or repair fopowing a loss to
the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby t
assigned and shag be paid to Lender #or application to the sums secured by the security instrument, •with the
excess, if any, paid to Borrower. i
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C. Lender`s Prior Consent. Borrower stroll not, except after notice to Lender and with Lenders prior
written consent, ~~rtition or wbdivide the Property or consent to: ~ _
(i) the abandonment or termination of the Condominium Project, except for abandonment - or
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termination provided by law in the case of substantial destruction by -tire or other casuahy 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
Assoxiation, 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 limited to. those provided under Uniform Covenant 7. `
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. - _
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f:UNUOMiNIUM RIDER-1 to ~ Famiy-6/75-FNMIA/FHLItC UNIFORM IHSTRUiAE1JT .
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