HomeMy WebLinkAbout0230 '
t
CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made!his.....,14th,,,,,,,,,,,,,,,,~y~„October,,,,,,,,,,,,,,,
19$Q.., 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, given by the undersigned (herein
"Borrower") to secure Borrower's Note to..... E1/ERGLADES, FEDERAL SAVIj~ ,/lNQ, ~Q~ A~Q~~~1Qj~ , , , , ,
. (herein "Lender') and covering the Property described in the security instrument and
located at.Apt. ,.207, ,Hutchinson ,Island .Clubr, Hutchinson, Island, ,Florida , , , , , , , , , „
ter Addw;s)
The.Property comprises a unit in, toggeether with sn undivided interest in the common elements of, a condominium
project known as...Hutehfnson, Island,Club ^
• tNra~ w cawom?niwn woj.cu
(herein "Condominium Project").
CONDOMINIUM COVENANTS. In addition t0 the Covenants and agrcements made in the security instrument,
Borrower and Lender further covenant and agree as follows:
A. Asstssaleats. Borrower shall promptly pay, when due, atl 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. Hanrd Iasllraace. So long as the Owners Association maintaiaa a "master" or "blanket" policy on the
Condominium Projxt which provides insurance -coverage against fine, 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 is 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 rnverage on the
Property is deemed satisfied; and
(iii) the provisions is 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superseded by any provisions of the declaration, by-laws, code of regulations or other constituent document of the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 accessary 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 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 ekments, any such proceeds payabk 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. t
C. Lender's Prior Coastal. 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 Ere 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.
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. Realties. It Borrower breacies Borrower's covetrants and sgreeareds >.ereooder, including tie covenaot
to pay wits doe condomiaiwn assesalaents, then Leader -array invoke airy realedies provided finder the stcarity
instlvlntat, including, bIN not limited to, Bose provided swder Ullitolrr Covenant
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
- E ST E. J
s 19~°0 OCt 17 PEi 12~ 59 -8or.°'~'
~ _ -
FIEEO a~ Ft CU~+tt C
Sf.tUClf C0U!ltY.t1 A. ~s
- ROGER POITRAS UILLERMiO F. ILLO -ao~ww•?
C:ERK CIRCUIT G'"~~
Cn ~~ppppp~ MA LLO-
Vila7oa7p ~
. BU~t~~ PAGE
X35949
C4NOOMlNIUM RISER-1 to~F,Mn~hr-6~~s-~FwuIFNUie oNIFOUt tNSntwENt SA~Sy.t~3~~~0~~