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FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDE1~,
10th March
THIS CONDOMINIUM RIDER is made this ........day of
19 aO., and is 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 herewith, given, byt. the undersigned
(herein "Borrower) to secure Borrowers Note to FIRST FEDERAL SAVINGS AND LOAI~~ ASSOCIATION OF
FORT PIERCE t~ rein "end a d ,covers thhe Property ddesccihheed i t securi instrument and
located at . l3~1-C.Ld~es~nd Br'~ve - ~ort_Pierce, Florida ~4~ ~
Ivoo.~r ~oa..s~ -
The Property comprises a unit in, together with an undivided interest in the co nts of, a condominium
project known as . -H I ~H P0~ I~T_ OF FORT PIERCE .CONDOMINIUM, _ S~C~~~ _ _ -
r+y~ o~ eondonNn~un+ woken
. . . . . . (herein "Condominium Project")
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 shall promptly -pay, when due, all assessments imposed by the Owners
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. Hazard Insurance. So long as the Owners Association maintains a "master" or "blanket" policy on the
Condominium Project which provides insurance coverage against fire, hazards included 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 insurance on the. Property:
Iii) Borrower's obisgation 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
shall be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent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 5. For any period of time during which such hazard
j 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.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to -
M 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 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 !aw 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. a4Y
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.
D. Remedies. If Borrower breaches Borrower's covenant and agreements hereunder, including the
covenant to pay when due condominium assessments, t nder may invoke ny remedies provided
under the security instrument. including. but not limited o. t provided under U form Covenant 7.
IN WITNESS WHEAAREOF, Borrower has executed thi C nd mini ider.
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CONDOMINIUM RIDER-1 to 1 Famiry-6175-FNMAiFHIMC UNIFORM INSTRUMENT
Form 250 Boon 3~ PtGE2,e~2 3