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CONDOMINIUM RIDER '~`f
THIS CONDOMINIUM RIDER IS madC thlS..(! .day Of .~~~:v~
19.8p., and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust or Decd f
to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned (herein ~
"Borrower") to secure Borrower's Note to..FIRST..FBD.BRAL. SAVINGS..ANI1 .L4AN..ASS~OCI.ATI.G>~l.
0~ .>~Ai~$. K4~~$.-.... (herein "Lender") and covering the Property described in the security instrument and
located at.. 7420 South, AlA, . X111,,, Jgn~Cgn, Begeh• . ~''~oF.~dg . ~34~~
lP~ovwtY Address)
The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium
project known as SAND_DOLLAR VILLAS. CONDQM~N~U~{
(Nsm~ of Condominium ProjeCq
(herein "Condominium Project"). -
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree az follows:
A. Assesameats. 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. Hasard Iasaraace. So long az 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 az Lender may require, and in such amounts and for such periods az 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;
'I (ii) Borrower's obligation under Uniform Covenant S to maintain hazard insurance coverage on the
Property is deemed satisfied; and
E ~ (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~ superseded by any provisions of the declaration, by-laws, code of regulations or other constituent document of the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 5. 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. - -
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. Leader'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 law in the raze 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,
f 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
E assume self-management of the Condominium Project. -
D. Remedks. If Borrower breaches Borrower's rnveasats and agreements hereunder, inclodia` tTtt co~eaant
s to pay when doe condominium assessments, thea Leader may invoke aay remedies provided Hader the sorority
instra~ment, iadnding, hot act limited to, those provided under Uniform Covenant 7.
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IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. -
- w ~~~59 ohn C. Cameron l~0fO1""' ,
~ ~ ~ ~ (er ~ 3T. Cargl D. ron -e°"'a'r'
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S~~~TTRASA. " \
IXERK CIRCUIT COURT Alex C ron
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REla1R~1 Vf.Rlf tC0_.-------~""
L /184918
COMDDMlMIUM RIDER-1 to ~ Fxnily-6175-FNMA/FNUIC UNIFORM INSTRUMER7
BOOKS PaGf 494 -
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