HomeMy WebLinkAbout1594 ..r
-
r .
~ - -
-
~ CONDOMINIUM RIDER
Y. ~~~U%,L~:Y;+til
THIS CONDOMINIUM RWER is made this..... ................day O
19. 84, and is incorporated into and shall be dcemed to amend and supplemen ort ,Deed of Trust or Deed
to Secure Debt (herein "security instrument") dated of even date lleirewi ,given by the undersigned (berets
"Borrower") to secure Borrower's Note to..FIRST..FBD$>~AL . SAVINGS..AN7~ .LAAN..ASS,OC71~TL01l1.
0~ . i~AR$. K4)t~$..... (herein "Lender") and covering the Property described in the security instrument and
located at........ 74?d4 .So.. S'1A.. Rd..>l.]A.......Jenaen .Beach.. Fyotcida
tProv.rtr Adds)
The Property comprises a unit in, together with an undivided interest in the common elements of, s condominium
project known as.....SA15D AQI,I.BR. YILTaAS .CO~1DAd"LINItI~. C~ .
(NS+m~ or Condominium Proj~Ct)
(herein "Condominium Project"). -
CONDOMINtuM CovENANTS. In addition to the covenants and agrcements made in the security instrument,
Borrower and Lender further covenant and agree as follows:
A. AsaeBStaeMs. 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
dxlaration, by--laws, code of regulations or other constituent document of the Condominium Project.
- B. Hmrd Insarance. 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 S to maintain hazard insurance coverage on the
Property is deemed satisfied; and
(iii) the provisions in UruTorm 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superseded by any provisions of the declaration, by-laws, code of regulations or other constituent document of the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 S. For any period of time during which such hazard insurance coverage is not
maintained, the immediately preceding sentence shall be deemed to have ao 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 repatt following a loss to
the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby assigned
sad 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 law 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, f
or equivalent constituent document of the Condominium Project, including, but not limited to, any amendment which 1
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 breacies Borrower's Covenants sad agreements iereaader, iechrdia= tie coveltaat
to pay wien dee Condominium assessments, ties Leader gray invoke say remedies provided aader tale scca~ity
iriatiraa4e~, isdadieg, bat not limited to, Bose provided ender Uaiforat Covenalit'7. '
- i
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. -
5 ~M 5T
~ 2
yaR
s
E~~ F'tN'~RI?np~ Maria Riviello Marasco --e°"°"~'
q,B11t CNbg11T COtNt
Y
-RECORD YERif -sorrows.
44014
Lfl188000
CONDOMINfUM RIDER-t to-~ F~1~-e~~s-fRaMIUiN~MC uluf~ 11tSTRYMEIIT PAt'E~tA~