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CONDOMINIUM RIDER
Tells CONDOMINIUM R1nER is made this.... / ."S~.......... ...day o
19.13A ,and is incorporated into and shall be deemed to amend and supplement ort ~ Deed of 'Trust or Decd
to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigned (betels
"Borrower") 'to secure Borrower's Note to..FIRST..F811R>i;AL . S~AVXr1GS..ANII .LAAN..ASS.OCI1?TZOIT.
4~ .I~A14$: KO~~~..... (herein "Lender") and covering the Property described in the security instrument and.
located at ~4~4 .$4ut~. . #~ad A~ .........~e~sen Reacb.: F~da .
twov.rlr ~aarsl
The Property comprises a unit in, together with art undivided interest in the common elements of, a condopninium
project known as Sl°!t~ID . DOI~AR .Y~i~. ~4fi~~~~ R .
(herein "Condominium Project"). t~.nw ~ Ca~domintum~Pe~1~1
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as follows: - -
A. Asses~nents. 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 Inmraoce. 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 Leader of on~tarelfth
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) the provisions in Urll~orm 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superseded by any provisions of the declaration, by-laws, code of regulations or other constituent document of the -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 conQict 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 rnmmon 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 taw in the case of substantial destruction by fire or other casualty or in the case of s taking by condemnation
or eminent domain; -
(ii) any material amendment to the declaration, by-taws 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. -
D. Remedies. If Bon+ower br+esictKS Borrower's covenants and agreeements >ter+eaader, f the oorsnant
to pay w>reo doe condominium assessments, tikn Lender stay Tooke ary remedies pruddcd ender the secnrlty
ieastrume~, inclading, but not limited to, those provided ender UaHors -Covenant 7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
4944Q3
19@0 JU1. 25 AN its 55 ~
pp,,LE Robert D. Spurq -9orrower
ST1i~C~~~ {Q~~~ n^ .
- a'~ I~fURt Phyllis O. Spurgeon -e«~o~..?
RECORtI 1f~itlf'IEft
- L 8186715 -
BOOKS PA6EIWV
CONDOMINIUM RIDER-t to ~ Fsn~y-e~~s-F~u~Fttt~te uNtfotnt ttlmut~ttr