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Home My WebLink About0964 01-23080060/Brotwn FIRST FEDERAL SAVIN~iS • AND LOAN ASSOCIATION OR FORT PIERCE CONDOMINIUM RIDER THiS CONDOMINIUM RIDER is made this - _ - - - - - - - _ - - ~y d _ October 19 . $O , and is incorporated into and sha0 be deemed to amend and supplement a Mortgage. Deed d Taut or Deed to Secure Debt (herein "security autrument'~ dated d even date herewith, given by the undersigned (herein "Borrower") to secure 8«rower's Note to FlRST FEDERAL SAVINGS AND LOAN NISSOCIATION OF FORT PIERCE (herein "Lender"? and covering the Property described ~ the security instrument and located at .......2.400 S..O,cean Drive, .Fort Pierce, .Florida . . . . ~+o«a •ad..r The Property comprises a unR in, together with an undnnded interest in the common elerner~ d. a condominium project known as.........OceaRYil.lags--------_--------~-------------------- d Co~Oa~+~ ha~cO . . (herein "Condominium Project's - CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument. Borrower and Lender further covenant and agree as folows: A. Assemmatts. Borrower shop promptly pay. when due. at assessments apposed by the Owners Association a other governing body d the Condominium Project (herein "Owners Association'? Pursuant to the provisions d the dedaration, by-laws. code d regulations or other constituent document d the Condominium Proiect. _ B. Hazard lnwrance. So kx~g as the Owners A~ociation maintains a "master" or "blanket" po&y on the Condominium Project which povides amaanoe coverage against Ere. hazards a~dided within the term "emended coverage." and such other hazards as Lender may sequae. and in such amounts and for such periods as Lender may require. then: (i) Lender waives the provision in Uniform Covenant 2 far the monthly payment to Linder done- iwelhh dthe premium nnstalMsents far hazard assurance on the Property: (ii) Borrowers obligation under Uniform Covenant 5 to mae~tain hazard auurance coverage on the Property is deemed satisfied; and - (iii) the provisions in Uniform Covenant 5 regarding apprication d hazard insurance proceeds shad be superseded by any provisions d the deraration. by-laws, code of regulations or other constituent document d the Condominium Project a d appbcable law to the extent necessary to avoid- a confect between such provisions and the provisions of Uniform Covenant 5. For any perad d time durag 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 ratite d any lapse in such hazard awnance coverage~ In the event d a distribution d hazard instiuance proceeds am teu d restoration a repair foYowing a loss to the Property. whether to the unit or to common elements. any such proceeds payable to Borrower are hereby f assigned and sha8 be paid to Lender for appkcation to the sums senued by the seaaity instrument. •with the excess, if any. paid to Borrower- ! C. Lendet"s Prior Consent. Borrower shag not. except after notice to Lends: and with Lender's prior written consent, partition a wbdivide the Property a consent to. (i) the abandonment or termination d the Condoma~ium Project. except for abandonment or termination provided by law in the case d substantial destruction by fire or other casualty a in the cased a taking by condemnation or eminent domain; - (n) any material amendment to the -declaration. by-laws or code d regulations d the Owners Association, or equivalent constituent document d the Condominium Project. includa~g, but not limited to. any . amendment which would change the percentage interests d the unit owners en the Condominium Ptoject; or (iii) the effectuation d any decision by the Owners A~ociation to terminate prdessional management and assume self-management d the Condominium Project. D. Remedies. N Borroaer breaches Borrowers co+anaMs and agreemmts herermder. ~drding the covenant to pay when due condominium t6m leader mast irwokrt any r P under the security instrument. tg, but not tmited to. base provided under Uniform Covenant 7. IN WCiNESS WHEREOF. Borrower -has executed this Condwr~inium Rider_ r x f980 OCT -8 kw 3- I ST. LItCt£CC;at'Y.ftA. 1C de ROGER PCITP.AS CLERK C(hC~~:3 ~L':ii~' C. a ~ ~ -brra~n CONDOM{NIUM RIDER-t io ~ fanwir-6f~5-fwWU?ifkttrC uw+F~ ~N51>~MEtitt ~ ~ - X340 r~ 964 3 ~~o , . _r