HomeMy WebLinkAbout1467 RIDER ~
Tttts Qil~O~@~L)I~CRtoER is made this.........'. ~ .............day of ......August............., i
19. 8~4, and is incorporated_into and shall be deemed to amend and supplement a Mortgage. Deed of Trust or Deed
to Secure Debt (herein "security instrument") dated of even date herewith~~ ~tv~en~ by the undersigned (herein i
"Borrower") to secure Borrower's Note to B1~N[t ~ . S'rt . . Q0~][11;Y a ,Florida 7?ank11'x~ .
loca~
end eta. ~t , 4-D~_ 1302 tnNeb~raska Aavenue,cnnFogrt_ Pierre ~ ; Florieda~~ 33450 unity instrument and
totwrrthouse ter ~wonss) p~r.~, townhouse
The Property comprises a itliiC in, together with an undivided interest in the common~nmotsc of, a am~uao
project known as TEIE ,PINES OF ,FORT Piz , FIA)tID(1, (Herein . "Project" ~ . * .
(Nanw o1 OMtt19BBOdn Project)
Q~I]~Jdi COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as follows:
A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association
or other governing body of the i~l~li Project (herein "Owners Association") pursuant to the provisions of the
onstituent document~f the OQtItRa Project.
B. Nazard Durance. So long as the Owners Association maintains a "master" or~ "blanket" policy on the
~'lQdQ~OD[ 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) Borrowers obligation under Unifoan Covenant 5 to maintain hazard insurance coverage on the
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant S regarding application of hazard insurance proceeds shall be
superseded by any provisions of the constituent documentsof the
it+Rti 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
I~ 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. 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 thcifi~ilft 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; ~ '
t
(ii) any material amendment to the '
constituent documentsf the fE~t>OoIRNx Project, including, but not limited to, any amendment which
would change the percentage interests of the unit owners in the Project; or
(iii) the effectuation of any decision by the Owners Association to terminate professional management and
assume self-management•of the Ql1K Project.
D. Remedies. If Borrower breaches Borrower's coverwats and agreements hereunder, including the covenant
to pay when due ]~~fDtll/~~~ Its, thee Lender may iavolce any remedies provided under the security
instrument, including, but not limited to, those provided under Unifona Coverwnt 7. I
a
IN WITNESS WHEREOF, Borrower has executed this lei Rider.
ISO ~ 28 3~ 38 ~ a
Si. EtJCtE LWR W. QlY ,i -swrower
ROGER pCiTRA~
CLEFK CIRp1R CGE'~1
~y'7653 ItArIIE P, INC~>~1
***The constituent doctments of the Project consist of a Declaration of Party
Facilities, Corporate C3~arter for the Owners Association, By-Laws of the Owners
Association and Declaration of Protective Oo~venants.
°33`7 P~E~.458
Br,OK
4-0438-000-8 N2-79
RIDER to ~ Family-6175-FNMA/FNlt1C UNIFORM INSTRUMENT SOU7HLAND PRINTING co
- - 4 ,
.~1