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FIR3T FEDERAL SAVINGS AND LOAN ASSOCIATION
OR FORT PIERCE
CONDOMINIUM RIDER ~oan No. 0~-23084567
THIS CONDOMIMUM RIDER is made this . . _ ??~d . . . . . . . . . . . day of . . . D.eCember , _ . , . . . ..
19 .. 80 , and is incorporated ir~to and shall be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed to Secure Debt (herein "s¢curity instrument'~ dated of ev¢n dat¢ herewith, given by the undersigned
(he~ein "Borrower") to secure Borrower s Note to FlRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lendei ~ and covering the Property described in the securiry instrument and
Iocaced at . . . . . . South.l9th. Street,. ~ort. P.ierce,. Etorida . 33450 . . . . . . . . . . . . . . . . .
~+ov«~r neer«a
The Property comp~ises a unit in, together with an undivlded interest in the common elements of, a condominium
pro)ect known as . . . . WOOQLANOS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . •
(Na~n. a coeeonw,~wn Pro~.ca
. . . . . . . . . . (herein "Condominium Project").
CONDOMiNNM COVENANTS. in addition to the covenants and agreements made in the security instrument,
Borrower and L¢nder further covenant and agre¢ as follows:
A. Assessments. Borrower shall prompdy pay. when due, all assessments imposed by the Owners
Association or other gov¢ming body of the Condominium Project (herein "Owners Association'7 pursuant to the
provisions of the declaration, by-laws, code of regulations or other constituent dceument of the Condominlum
Project.
B. Hazard Insurance. So bng as th¢ Owners Association maintains a"master' or "blanket" policy on the
Condominium Project which provides insurance coverage against fire, harards included within the term "extended
cov¢rage," and such other hazards as L¢nder 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 [nstaUments for hazard insurance on the Property:
(ii) Borrower s obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is de¢med satisfied; and ~
(iii) the provisions in Uniform Covenant 5 regarding applkation of hazard insurance proceeds
shap be supersed¢d by any provi~ons 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 contlkt between
such provisions and the provisions of Uniform Cov¢nant 5. For any period of time during which suth hazard
insurance coverage i~ not maintained, the immediately preceding sentence shall be deemed to have
no force or ¢ffect. Borrower st~aU give Lender prompt notice of any laps¢ in such hazard 'ensurance 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 instrum¢nt, •with the
excess, if any. paid to Borrower.
C. Lender`s Prior Consent. Borrower shall not, except aher 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 casuahy or in the cas¢ of a
taking by condemnation or ¢minent domain;
(ii) any materia) amendment to the declaration, by-laws or code of regulations of the Owners
Associafion, or equivalent constituent document of the Condominium Projed, including, but not limited to, any
amendment whkh would change the percentage interests of the unit owners in the Condominium Project: or
(iii) ~ the ¢ffectuation of any decision by the Owners Association to terminate professional management
and assume self-managem¢nt of the Condominium Project.
D. Remedies. lf Bonower breaches Borrowers covenants and agreements hereunder, including the
covenant to pay when due condo~ntnium assessments, then Lender may invoke ar~y remedles provlded
under the security instrument. including. but not limited to, those provided under UnHorm Covenant 7.
IN WITNESS WHEREOF. Borrower has executed this Condominium Rider.
q80 DEC 23 II~ ~ 53 <<
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s ao6ER POITRAS. `-~11 i am H. Mey~r 8«-a•«
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R.c:~+n :'~~~t:~~ _ _ _ ---- Cora Meyer -~a..-
5 1451 -
CONDOMINIUM RIDER-1 to ~~arnily-6/75-FNMA/FHLMC UNIFORM INSTRUfNENT
~ 2~ g~3~45 P~ 1487