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FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDER o~-23083510
THIS CONDOMINIUM RIDER is made ~his . . . . .17th . . _ . . . . . . . day of . . . . December . . . . . _ .
19 .$Q ., and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed ot Trust
or Deed to Secure Debt (herein "securiry inshument") dated of even date herewith, given by the undersigned
(herein "Borrower") to secure Borrower's Note to FlRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender") and covering the Property described in the security instrument and
locaced ac . . . . . . 24Q0. So~tth .Oc~d~1 Dri ve, . Fort Pi erce, _ FL. _ 33450 _ _ _ _ _ _ _ _ _ _ _ _ _ _
(WOp~Ay AOM~aa1
The Ptoperty comprises a unit in, to~ether with an undivided interest in the mmmon elements of, a condominium
project known as . . . . OG~AN, 1(1L_LAGE. . . _ _ .
........... .--•---~--~----~--••-•-
~Nr+» a ca,eonwnwm Wa.en
. . . . . . . . . . (herein "Condominium F'roject").
CONDOMINIUM COVENAMS. In addition to the covenants and agreements made i~ the security instrument,
Borrower and [.ender further covenant and agree as follows:
A. Assessments. Borrower shall prompdy pay, when due, all assessments imposed by the Owners
Association or other goveming 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
Proiect_
B. Hazard Insurance. So long as the Owners Association maintains a"master" or "blanket" policy on the
Condominium Project which provides insurance coverage against fire, hazards included wRhin 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) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is d¢emed satisfied; and
(iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds
shall be superseded by any provisions of the declaration, by-laws, cod¢ of regulations or other constituent
document of the Condomi~ium 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 suth hazard
insuranc¢ coverage is not maintained, the immediately preceding sentence shall be deemed to have
no force or effett. Borrower shall give Lender prompt notice of any lapse in such hazard insurance coverage.
In the ever.t 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 shal) 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 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, exc¢pt for abandonment or
termination provided by law in the case of substantial destruction by fire or other casualry or in the case of a
taking by condemnation or eminent domain:
(ii) any material amendment to the dedaration, by-laws or code of regulations of the Owners
Association, or equivalent constituent document of the Condominium Projed, including, but not limited to, any
amendment which would change the perceniage interests of the unit owners in the Condominium Ptoject: or
(iii) the effectuation of any decision by the Ownen Association to terminate professional management
and assume self-management of the' Condominium Project.
D. Remedles. If Borrower breaches Borrowers covenants and agreements hereunder. including the
covenant to pay when due condominium assessments, then Lender may invoke any remedies provided
under the security instrument. including, but not limited to, those provided under Uniform Covenant 7.
IN WI7NESS WHEREOF. Borrower has executed this Condominium Rider.
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CONO~MINIUM RIDER-t to 4 Famfly-6/75-FNMA/fNLMC UNIFORM INSTRUMENT
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