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~1CROff~n..i COND011~IINIUM RIDER
THIS CONDOMINIUM RIDER is wade thiS~Jl"~ ..............day of
19 SQ and is incorporated into and shall be dcemed to amend and supplement a gage, • ~ of Trust or Deed
to Secure Debt (herein "security instrument") dated of even date herewith, given by tbe undersigned (herein
"Borrower") to secure Borrower's Note to..FIRST..FBA$RAL . SAYII~IGS..ANA . LAAN..ASSOCI.ATI.O>~i.
4~ . i~AR$. K4~.~$..... (herein "Lender") and covering the Property described in the security instrument and
located at.. ?~~4.54111~~ ~ta~e-. S~F@et..L~.t .~~5..91st9... C..Jetssan beach,. Florida...........
twov~rlr ~aonss)
The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium
project known as ~D .1~OIZAR ~R4MA'1~~'1 C .
(Nanw 0I COndort~iniwn Project)
(herein "Condominium Project").
CONDOMINIUM COVENANTS. In addition to tbe covenants and agreements made in tbe security instrument,
Borrower and Lender further covenant and agree as follows:
A. Assessaneab. 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 tbe provisions of the
declaration, by-laws, code of regulations or otber constituent document of the Condominium Project.
B. Huard tasaraace. 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;
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard. insurance coverage on the
Property is deemed satisfied; and
(iii) tbe provisions in Unt~orm Covenant S regarding application of hazard insurance procxeds shall be
superseded by any provisions of tbe declaration, by-laws, code of regulations or other constituent document of the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
tbe provisions of Uniform Covenant 5. For any period of time during which such hazard insurance coverage is not
mainiairted, 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 toss to
the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are bereby 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.
G 1[.ender's Prior Consent. Borrower shalt 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 law in the case of substantial destruction by fire or other casualty or in tbe 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 tbe 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 Boe+uwer br+eacbes Borrower's rnveoants and sgrcements 11erennder, inclodiag the cotenant
to pay w6ea doe condominioel assessnleaLs, then Lender may ievoke any remedies provided ender the aecorlty
iastrameet, indodiag, bat not limited to, those provided order Uniform Covenant 7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
~~S~i -
nardo Marano ~O"'D1/'
l9S0 JU! -7 AI< 11~ 01
Fit.EC INC r~-EU!!Ut-o ~ e r ni a rare ~,,,a,.,
S ROGER
POITRAS~
ccERx c~tcun ctnjtet
Rtrap~ tTjtiFtFC - L X184686
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Bf;OK 4 PAGE e~e 2
CONDOMINIUM RIDER-1 to 4 F,miy-6175-FIt11A/FtllttC uNtfORM INSTRUttEllr