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P'lRSY` FEDERAL SAVlN~i$ AND ~.OAN ASSOCIATION
O1~ FORT. PIERCE ~ '
CONDOMINIUM RIDER loan ~ 02-23065905
THIS CONDOMINIUM RIDER b made this , ,17th day of January
19 . and b incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed to Secure Debt (herein "security instrument"] dated of even date herau+ith, given by the undersigned
(herein "Borrower's to secure Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender'? and covering the Property described In the security instrument and
boated at • Apt.. 519-C .High POi nt..... F, arL . P.i erce, . F 1 or1 da.. 3345Q .
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The Property comprises a unit togetlmr with an undivided Interest in the common elements of, a condominium _
protect known as ..NIGH POINT. OF FORT. PIERCE .C,ONOQMIINIUM, .S.E~T)<OH, ~I, , , , , , , , , , , , , , ,
vap» a ~ aa.~»
(herein "Condominium Project'1.
CONDOM[NIUM COVENANTS. In additbn to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as fopows:
A. As:essments. Borrower shop promptly pay, when due. ad assessments imposed. by the Owners
Assodation or other governing body of the Condominium Project (herein "Owners Association") pursuant to the
provisions of the declaratbn, by-laws, code of regulatbns a other constituent document of the Condominium
Protect.
B. Hasard Insurance. So bng as the Owners Associatbn maintains a "master" or `blanket" polky on the
Condominium Protect which Provides insurance coverage agaG?st fire. hazards Mduded 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: _
• ti) Lender waives the pmvhlon M Unifcnm Covenant 2 for the monthly payment to Lender of one•
twelfth of the premium installments 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
(i0j the provisions in Uniform Covenant 5 regarding applkation of hazard insurance proceeds
shat! be superseded by any Inovisbns of the declaration. bylaws, code of regulatbns or other constituent
document of the Condominium Project or of applicable law to the extent necessary to avoid a confNct between
such provisions and the provisions of Uniform ~:ovenanio. cor any period Ot` wiir uwuy wu'n.u ~a:~,u ~~s'u
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Insurance coverage is not maintained, .the immediately preceding sentence shop be deemed to have
no force or 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 follouring a bss to
the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
assigned and shaft be paid to Lender for applicatbn to the sums secured by the security instrument, •with the
excess, if any. paid to Borrower.
C. tender`s Prior Consent. Borrower shall not, except after notke to Lender and with Lender's prior
written consent, partitlon or subdivide the Property or consent to:
(i) the abandonment or termination of the Condominium Project, except for abandonment or
terminatbn provided by law in the case of substantial destructlon by fire or other a:asuatty 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
Associatbn, or equivalent constituent document of the Condominium Project, including, but not limited to, any
amendment whkh would change the percentage interests of the unit owners in the Condominium Project; or
(iU) the effectuation of any decWon by the Owners Association to terrriinate professional management
and aswme s¢N•management of the Condominium Project.
D. Remedies. If Borrower breaches Borrower's covenants and agreements hereunder, hcluding the
covenant to pay whea due condominum assessmenb. then Lender may invoice any remedies provided
under the security instrument, including, but not limked to, those provided under UniWrm Covenant 7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
X80 FEB -8 P!~ ~ 45
FIlEO AtiO FECOIt~ ~ 4~~~`~ Jane ger, a s g a It
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RECORO yERIFtCO-----
CONDOMINIUM R;DER-t to ~ Famlyr-6/75-FNMA/FHLMC UNIFORM UISTRUMEMT
~ Form 250 8(i
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