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P~IRBT P~EDERAL BAVIN~iB AND LOAN A880CIATION
O1~ RORT PIERCE
CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made this .....15th ..........day of ...February....
19.80.., and tr incocpaated into and shad bs deemed to amend and supplement a Mortgage, Deed of Trust
at Deed to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned
(herein "Borrower's to secure Borrower's Note to FIRST FEDERAL SAVMGS AND LOAN ASSOCWTION OF
FORT PIERCE (herein "Lender"1 and coversng the 1 - described in the security instrument and
located at . App 12~ D, ,Nigh, Point,. Ft., Pierce, F a. , , .33450 . . . . .
~voo.nr nae~.•a?
The Property comprises a unit in, with an undivided interest in the common elements of, a condominium
project known as . E~~. POINT ,CO,NDOMINIUi~I. EQUITIBSr _INC. .
~ a ca+eo~ Pro~ea
(herein "Condominium Projed'7.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as follows:
A. Assessments. Borrower shad promptly pay, when due, ad assessments imposed by the Owners
Associatbn or other governing body of the Condominium Project (herein "Owners Association's pursuant to the
provisbns of the declaration, by-laws, code of regulatbns or other constituent document of the Condominium
Protect.
B. Hazard insurance. So bng as the Owners Association maintains a "master" of "blanket" polky on the
Condominium Pt!ojeet whkh provides insurance coverage fire,. hazards inducted wNhin 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 instalments for hazard insurance on the Property;
(iU Bortewer's obligatbn under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satldied: and
(W) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds
shad be superseded by any provisions of the declaration, by-laws, code of regulatbns or other constituent
document of the Condominium Project ~ of appdcable law to the extent necessary to avoid a conflict 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 shad 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 restoratbn or repair following a loss to
~ the Property. whether to the unit or to common elements. any such proceeds payable to Borrower are hereby
as~gned 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. lenders Prior Consent. Borrower shad 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 tenminatbn 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;
(8) any material amendment to the declaration, by-taws or code of regulations of the Owners
Association, or equivalent constituent document of the Condominium Project, including, but not Nmited to, any
amendment whkh would change the percentage interests of the unit owners in the Condominium Project; or
(W) the effectuation of any decision by the Owners Associatbn to terminate professional management
and assume self-management of the Condominium Project.
D. Remedies. if Borrower breaches Borrowers covenants and agreements hereunder. including the
covenant to pay when due condomWum asseuments, then tender may invoke arty remedies provided
under the security instrnment, including, but not Umktd to, those provided under Uniform Covenant 7.
IN WITNESS ~
ower has executed this Condominium Rider.
4
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Ruth H. Platt, a single adult -
~RaUR
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R£~Clfii ~`'plf ti'it
CONDOMINIUM RIDER-t ro I Faintly-6/ZS-FNMA/FHLMC UNIFORM INSTRUMENT
~ ~ 5 P,~2l~90
Form 2so 600K