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CONDOMINIUM RIDER
Tttts OONDOHINIUI[ RIDER;: made this......... /.............day of.
198p std is incorporated into sad :hall be deemed to amend and supplement a Mort Deed.ci~Tntat or Deed
to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned (herein
"Aorrowcr") to secure Borrower's Note to..FI>1<ST..FBABBAL . SAVI>'IGS..ApII .LAAN..ASS?OC7I~TIA~1.
0~ .i•AR$. KO~~$.. (herein "Lender") and covering the Property described is the security instrument and
locstied at.. 7430,~.~at,
,tth f~]A,No; , 120c ..Teneen Bed,:'-h;. Florida, 33457
twoo.rer iwa~...~
The Property comprises a unit in, t r with an undivided interest in the common eletnenta of, a ooadomiaium
project known aa........ - D~ 5.4~?~. ~ .
• • • • • (hoteia "Condominium PtO~Ct"), ~NanN W Condar~in)un~ ProJ~ey
CONDOMIMUM COVENAMS. Ia addition t0 the covenants and agreements made in the security inftrtmREat,
Borroarer and Leader further eoveaaat and agrce as follows:
A. Ageap~. Borrower abaft promptly pay, whoa due, all assessments imposed by-the Owner; Association
or other governing body of the Condominium Project (herein "Owners Associatioa'~ pursuant to the provisions of the
declaration, by-lava, code of regulations or other constituent document of the Condominium Project.
)1~ Aatrand Lsanace. So long as the Owners Association maintain: a "master" or "blanket" policy oa the
Condominium Project which provides insurance coverage against fire, hazards included within the term "extended
coverage," and such other hazards as Leader may require, and in such snnouata and for such periods as Lender tray
roquire,thea:
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of opo-twclith {
of the premium installments for hazard insurance on the Property;
(ii) Borrower`s obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is doomed satisfied; and
(iii) the provisions in Unff'orm Covenant S regarding application of hazard insurance proceeds shall be
superseded by ~Y Pto~~ ~ ~ declaration, by-laws, coda of regulations or other constituent document of the
Condominium Project or of applicable law to the extent accessary to avoid a eon8ict between wch proviaioaa and
the provisions of Uniform Covenant S. For any period of time during which such hazard it>suraace coverage is not
maintained, the immediately preceding sentence shall. be deemed to have no force or effect. Borrower shall give
Lender prompt notice of say lapse in such hazard insurance coverage.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a leas to
the Property, whether to the utut or to common elements, nay such proceeds payable to Borrower arc hereby assigned
and shall be paid to Lender for application to the soma secured by the security instrument, with the excess, if any,
paid to Borrower. .
G Leader's >rrior Consent. Borrower shall not, except after notice to Leader and with Lender's prior written
Conaerit, partrtion Or subdivide the Property Or coassnt t0:
C) the abandonment or termination of the Condominium Project, except for abandonment or termination
provided by law in the case of substantial destruction by Ere 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 is the Condominium Project; or
(iii) the effectuation of any decision by the Owners Association to terminate professioaai management sad
assume self-management of the Condominium Project.
D Reatedks. U Borrower br+aclKS Borrower's covesasts sad itgnee~aesb iereaader, i t>re oov~aat
to paf wliw doe coado~ sssea:toeab, lien header ata~ inoke nay teaAedks prorWed aadar t11e aeaiorYy
iastttaaeat, is 6stt tat molted to, tbae prorWed aader UaH 7.
IN WrfNESS WHERFAF, BOCPOwer has Executed this COnd 1 ~det.
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~RESt~lvEReftE~-- P A. Thorlaksai -ao.~ow..
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Roeet~y Thor .
c L #178050
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