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P~IRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDER loan ~ 02-23065871
THIS CONDOMINIUM RIDER is made this ....14th day ~ ;=January
19 and is incorporated into and shag be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed to Secure Debt (herein "security instrument's dated of even date herewith, given by the undersigned
(herein "Borrower's to secure Borrower's Note to FIRST FEDERAL SAVMGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender") and covering the Property described in the security instrument and
located at 5t8-O.Crooke~.lake.l,ane........ fpr~ Pierce, FaQrida , 33450. • . .
IP~oo~«a~~?da~aal
The ~HIGHftPO~NT OF FORT PIEA;C~E C0~~1M, ~~~d~ °f' a condominium
project known as . . • - - .
twm. w Co~doiNntwn Pro~cq
(herein "Condominium Project"1.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as fogows:
A. Assessments. Borrower shall promptly pay. when due, aq assessments imposed by the Owners
Association or other governing body of the Condominium Project (herein "Owners Association's pursuant to the
provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium
Protect.
B. Hasard Insurance. So long as the Owners Association maintains a "master" or "blanket" policy on the
Condominium Project which provkles hutuance coverage against tire, 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-
twelfth of the premium installments for hazard inwrance on the Property;
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds
shag be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent
document of the Condominium Project or of applkable law to the extent necessary to avoid a conflkt between
such provisions and the provisions of Uniform Covenant 5. For any period of time during whkh such hazard
insurance coverage is not maintained, the immediately preceding sentence shall 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 disMbution of hazard insurance proceeds in lieu of restoration or repair following a toss to
the Property, whether to the unit or to common elements, any- such proceeds payable to Borrower are hereby
assigned and shall be paid to Lender for application to the sums secured by the security instrument, •with the
excess. if any, paid to Borrower.
C. Lender's !Prior Consent. Borrower shaA not, except after notke to Lender and with Lender's prior
written consent, partitbn 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 casuahy or in the case of a
taking by condemnatbn or eminent domain;
(ii) any material amendment to the declaration, by-laws or code of regulations of the Owners
Association, or equivalent rnnstituent document of the Condominium Project, including, but not bmited to, 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 professional management
and assume self-management of the Condominium Project.
D. Remedies. U Borrower breaches Borrower's covenants and agreements hereunder, including the
covenant to pay when due condominium assessmenb. then Lender may Invoke any remedies provided
under the security instrument, Including, but not limited to, those provided under Uniform Covenant 7.
.
t tN WETNESS WHEREOF, Borrower has executed this Condominium Rider.
_4'75'730
1980 FE6 t I PN 2 19 . oc1
FILEO ANO fECOR0E0 J Dunn -e«.o.••
t ST~OGER
POITRA~A• ~ C
~ CIERK ciRCUiT co ~ oro y ne
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Rf C011D ~'EA.IF tE:D
CONDOMINIUM RIDER-1 to ~ Family-6/75-FNMA/FHLMC UNIFORM INSTRUMENT
a~325 P,~E~.~'.9
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