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FIRST FEDERAL SAVIN<i8 AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDER
THIS CONDOMMMN RIDER is made this ...22nd ............day of . JaQUa7rY
19 . gp and is incorporated into and shop be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed to Secure Debt (herein -"security instrument") dated of even date herewith, given by the undersigned
(herein "Borrower'3 to secure Borrower's Note to FlRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender") anti coveting the Property des.-rRr3d in the . 3a.-urity tnstrurnent and
located at ...Apt .522. A,. High. Poiat, Ft..Pierce, .F.la.... 33.450 .
R+oo.~r Adarast
The Pt»perty comprises a unit in, together with an undivided interest bn the common elements d, a condominium
Pmkct known as ..HIGH .POINT. OF FORT PI$ItG>~ .QpNAQi~N~U~"i .
plate of ca~ao~inM.~ v~ol.~ri
..........(herein "Condominium Project'.
CONDOMINIUM COVENANTS. In additbn to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as fopows:
A. Assessrtsenb. Borrower shall promptly pay, when due, ap assessments imposed by the Owners
Association or other govemtng body of the Condominium Project (herein "Owners Association") pursuant to the
provisions of the dedaration, by-laws, code of regulations or other constituent document of the Condominium
Protect.
B. Hazard lraurance. So long as the Owners Assodatbn maintains a "master" or "blanket" policy on the
Condominium Pw~ct which provides irts<uanoe coverage against fke, 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 provision in Uniform Covenant 2 for the monthly payment to Lender of one-
twelhh of the premium instapments for hazard insurance on the Property;
(ii) Boaower's obNgation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satidied; and
(W) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds
shay be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent
document of the Condominium Project or of applicable taw to the extent necessary to avoid a oonftict between
such provisions and the provisions of UnHorm 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 shay give Lender prompt notice of any lapse in such hazard insurance coverage.
!n the even! of a dis~fl.?ution of haTasd ins+.rransQ ids in lieu of restoration a repair folbwing a loss to _
the Property. whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
as~gned and shop be paid to Lender for application to the sums secured by the security instrument, •with the
excess, if any, paid to Borrower.
f C. Lenders lhior Consent. Borrower shall not, except after notice to Lender and with Lenders 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 casualty 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
Association, or equivalent constituent document of the Condominium Project, including, but not Hmited to, any
amendment which would change the p¢rrentage interests of the unit owners in the Condominium Project; or
(Ui) 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 bre~aacches Borrowers covenant and agreement hereunder, including the
covenant to pay when due condodinium assessment. 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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~OGER
POITRAS /I _ -may ~ y~
s~ERK CIRCUIT CO~~ (,G~tyt
R~SORD YERiFtrtt_~ Ann M. Heiden -sOf°'""
CONDOMINIUM RIDER-t to ~ Panay-6/75-FNMA/FHLMC UNIFQRM INSTRUMENT
8~ 325 P~ 7~5
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