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Home My WebLink About1174CONQOMINIUM RIDER THIS CONDIMINIUM RIOER is made this l OTH day of ~~CEMBER, 1980 , and is incor~sorated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust or Deed to Secure Oebt (herein "securiry instrumenY') dated oi even date herewith, given by the undersigned (herein "Borrowerq to secure Borrowers Note to Flrst Fedsral Ssvln~s and Losn Assoclation of MaKin County~herein~l_ender'- and cc,verir,g the Property described in the securiry instrurr~ent and located at 10410 A1A # 703. JENSEh HEACH, FLORIDA 33457 The Property comprises a unit in, together with an undivided interest in the common elements ot, a condominium project know as HUTCHINlSOh ISLAND CLUP (herein'•Condominium ProjecY') CONDOMINIUM COVENANTS. In addEtion to the covenants and agreements made in the securiy instrument, Bor- ~ower and Lender further covenant and agree as follows_ A. AsNSSm~nts. Bonower shall promptly pay, when due, all assessments imposed by lhe Owners Association or other governing body of the Condominium Project (herein °Owners Association") pursuant to the provisions ot ihe declara- tion, by-laws, caie of regulations or other constituent document ot the Condominium P~oject. 8. Hazard Insuraoc~. So long as the Owners Association maintains a"master' or "blankeY' poticy on the Condo- minium Project which provides insurance coverage against (ire, hazards incfuded within the term'~extended coverage," an~ such other hazards as lender may require, and in such amounts and tor such periods as Lender may ~equire, then: () Lender waives the provision in Uniform Covenant 2 tor the monthly payment to Lender of on~twelfth ot the premium installments for hazard insurance On the Properly, (i) Borrowers obligation under Unito~m Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied; and (ii) the provisions in Uniform Covenant 5 regarding application of haZa~d ~nsurance proceeds shall be super- seded by any provisions of the declaration, by-laws, code of regulations or other constituent document ot the Condominium Project or of applicable law to the e~ctent necessary to avoid conflict between such provisions and the provisions of Uniform Covenant 5. For any pe~iod of time duri~g which such hazard insurance coverage is not maintained, the immediately precec~- ing sentence shall be deemed to have no force or eftecL BoROwer 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 Proper- ty, whethe~ to the unit or lo common elements, any such proceeds payable to Borrower are hereby assigned and shall be paid to Lender to~ application to the sums secured by the securiry instrument with the excess, if any, paid to Borrawer. C. L~ndsrs Prlor Cons~nt. 8o~rower shall not, except after notice to Lender and with Lenders prior written cor~ sent, partition or subdivide the Property or consent to: (i) the abandonment or termination of the Candominium Pro~ect. except for abandonment or terminalion provided by law in the case of substantia~ destructi~n by fire or other casualty or ~n the case of taking by condemnation or eminent domain: (i) any material amendment to the declaration, by-laws or code oi regulations of the Owners Association, or equivatent consiituent document ot the Condominium Project, including, but not lim~ted to, any amendment which wou~d change the percentage interests of the unit owners in the Condominium Project; or (ii) the efiectuation oi any decision by the Owners Association to terminate protessional management and assume selt-management of the Condominium Project D. Remsdlss. If BoROwer breaches Borrowars covsnants snd agrsements hsreundsr, including ths covsnantto psywhsn dus condominlum assessm~nts~ thsn Lender maylnvoke, sny remediss p~ovided underths s~curity Instrumsnt, Includl~~, but ~ot IImR~d to. thos~ provldsd under Unlform Covenant 7. !N WITNESS WHEREOF, Borrower has executed this Condominium R~der. 19~0 D~C 22 ~~ il= 33 F~LEf RhC FECGRBf D 51.LUC~E COUNiY.FLA. ROGER ?OITRAS CLEP.K GIR~Utl CQ . t~ arto~n ~•~a~~~~ ^ _. ~ --- , /~ ~-`.~'`' ! '~ ~ P 1~FOftkIS RUPEL ~ BORROWER ; BORROWER ; FiORROWER BORROWER $ :, A-302 6/79 ~ _..>_ ._ ,_.>~_,~~ S~ ~.29'7 ~ t~ '~'~~ ELAINE kUBELI. E~~x345 PA~fi172 CONDOMINIUM iiIDER• 1 to4 Fam~ly- 6/75 - FNMA/FHLMC UNIFORM INSTRUMENT