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Home My WebLink About2087 • ~ i~ P~IRST P~EDERAL SAVINGS AND LOAN A,SSOCI~ITION s O1~ SORT PIERCE loan ~ 02-23065871 ~ - ~ -CONDOMINIUM RIDER - ~ . t ~ THiS~ONDOMINIUM RIDER is made this 14th............ day of ......January 19 and IS Incorporated into and shall be deemed to amend and supplement a Mortgage,. Deed of Trust _ ' or Deed to Secure Debt (herei.~ "security instrument") dated of even date herewith, given by the undersigned } (herein "Borrower'1 to secure Borrower's Note to FlRST FEDERAL SAVINGS AND LOAN ASSOGATION OF FORT PIERCE (herein "Lender'1 .and covering -the ~ro~e~t~, -described In the _ security instrument- and boated at . 5~$ Gro~ked. 1-dtCe. 4ane. - Flzrt Pierce, ~loridd ~345D . The Property comprises a uNt in, t with an undivided interest ht the common elements of. a condominium proj~ known ~ , , ..HIGH, POINT OF,FORT,PI~RCE. GQPDOMINI~IM,, $GCTIQh I~ , , _ , , _ , . aa~. a co~eo~.rw~w vdopeo (herein "Condominium Projed'1. _ CONDOMIMUM COVENANTS. In addition to the covenants and agreements made in the security instrument, Borrower and Lender further covenant and agree as follows: - A. Assessment: Borrower shop - promptly pay, when .due, ap assessments imposed by the -Owners , Association or other governing body of the Condominium Project (herein "Owners Association'1 Pursuant to the provisions of the dedaratbn, bylaws, code of regulatbns~ or other constituent document of the Condominium Protect. - _ - B. .Hazard Irauaance. So beg as the Owners Association maintains a "master" or "blanket" popsy on the CondomWum Project whkh -provides insurance coverage age -fire, hazards included the teen "extended coverage," and such other .hazards as Lender . may require. and in such amounts and for- such periods as L.ende~ 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: . • (ii) Borrower's obligatbn under Uniform Covenant 5 to maintain hazard insurance coverage on the. Property is deemed satisfied; and - - (W) the provisbns in Uniform Covenant 5 regarding applicatwn of hazard insurance proceeds shop be wperseded by any provisions of the declaration, bylaws. code of regulations or other constituent document of the Condominium Project -or of applicable law to the extent :necessary to avo[d a -eonfiiet between such provisions and the provisbns of Uniform Covenant 5. For any period of time -during which such hazard insurance coverage is not maintained, the immediately preceding sentence shag be deemed to have no force or effect. Borrower shop give Lender prompt notke of any lapse in such hoard insurance coverage. _ In the event of a distribution of hazard insurance proceeds in lieu of restoration a repair folbwing a bss to the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are- hereby assigned and shays paid to Lender for application to- the sums secured by the security instrument. •with the excess. if any,-paid to Borrower. - C. Lenders Prior Consent. Borrower shag not, except _ after notke to Lender and with Lender's prior written consent, partition. or subdivide the Property or consent to_ (i) .the abandonment or termL~ation of the Conda^.~inium Project, except for abandonment or te*mination provided by la(a 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 material amendment to the declarat'on. bylaws _ or code of regulations of the Owners Association, or equivalent constituent document of the Condominium Project, including, but not limited any amendment which would change the percentage interests of the unit owners in -the Condominium Project; " or (iii) the effectuation of any derision by the Owners Association to terminate professbn?+1 management and assume self-management of .the Condominium Project. D. Remedies. If Borrower breaches Borrower's covenant and agreements hereunder, including the covenant to • pay when due condomtnium assessments. then Lender may iinvoke any remedies provided under -the security instrument. including. but not lim[ttd. to. those provided ender Uniform Covenant ra - fN WITNESS WHEREOF, Borrower has executed this Condominium Rider. ~ ~ ,1AN 30 il8 ~ 28 _ 47431 ~ Z ~ - Fu.EO ate F~coKOco u ~ ST.LUGE CCUitTY FIR.. - ROGER POITRAS ~ ~ _ !JERK CIRCUIT CDIiRT ` t YEpiPtEU_. _ Dorothy C. unne -s°"°"` CONDOMINIUM RIDER-1 to ~ Famiir-6/75-FNkUUFHIIMC UNIFOPM INSTRUMENT - ~ ~ F«~ 250 6U~~