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r~• • • CONDOMINIUM RIDER
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TH)sCoN)~ost)NtuM RIDER is made this.... ~ y G;l~;;
19.80., and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust or Decd
to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned (herein
"Borrower") to secure Borrower's Note to..FIRST..FBDBRl~I.. SAVINGS..ANIl .LQAN..ASS.OCIATZON.
4~ .1rAK$. ~4~~$..... (herein "Lender") and covering the Property described in the security instrument and
located at... 743Q .South. AlA...#822,. ~[enseni. St~..Flori.da ..33457
(Prop.rty ~wdr.:s)
The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium
project known 'as.........SAND. .Y1~+T.A~ .QOA>pON1~N~k1.$ .
(Nam! of Condominium Proj~cq
(herein "Condominium Project").
CoNOOa~tINIUM CovENeNTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as follows:
A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Ownerg Association
or other governing body of the Condominium Project (herein "Owners Association") pursuant to the provisions of the
declaration, by-laws, code of regulations or other constituent document of the Condominium Project. ~
B. Hasard Iasuraace. So long. as the Owners Association maintains a "master" or "blanket" policy on the
Condominium Project which provides insurance coverage against fire, hazards included withip the term "extended
coverage," and such other hazards as Lender may require, and in such amounts and for such periods as bender may
require, then: #
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one-twelfth
ut the premiwn iastaiiments for hazard insurance on the Propcriy; -
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard inuurance coverage on the
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant S regarding application of hazard insurance proceeds shall be
superseded by any provisions of the declaration, by-laws, code of regulations or other constituent document of the
Condominium Project or of applicable law to the extent necessary to avoid a conflict between such provisions and
the provisions of Uniform Covenant S. For any period of time during which 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 notice of any lapse in such hazard insurance coverage.
~I In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss 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 shall not, except after notice to Lender and with Lender's prior written f
~ rnnsent, partition or subdivide the Property or consent to:
(i) the abandonment or termination of the Condominium Project, except for abandonment or termination
provided bylaw 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 limited to, any amendment which
would change the percentage interests of the unit owners in the Condominium Project, or ~
(iii) the effectuation of any decision by the Owners Association to terminate professional management and ~
assume self-management of the Condominium Project. - j
D. Remedies. It Borrower breacbes Borrower's covenants and agreements Lcreonder, including the coveAaat
to pay when doe condominium assessments, tbee Lender may involve any remedies provided nnder the .secarity ~
instrument, including, but not 4mited to, those provided under Uniform Covenant'7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
a
1980 MAR 27 Ph i2~ OS
i1LE0 ~?ND'ECU(tDEO Elmer W. Ge~~ -gOf~r
ST LUCIE Ct1UNTY.FLA. f i
~OGER POITRAS ~ ~ ~1~-K`-~-t~s~~
tt.ERK CIRCUIT COU T M~-
bE~ltt) YEP.IFlEI).~~ - -sorrorwr
Viola E. Gerhard
41033
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BOOK~(.+O PAGE CycJ~7 - .
L 4175387
CONDOMINIUM RIDER-1 to 4 f,mily-6175-fNMAIFNtMC UNIFORM INSTRUMENT '
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