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FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDER Loan No. 0~-23084591
THIS CONDOMINIUM RIDER is made this . . . . . ~$t~1. . _ . . . . . . . day oi . Qecember. . . . .
19 .. 8Q, and is incorporoted into and shall be deemed to amend and supplement a Mortgage. Deed oi Trust
or Deed to Secure Debt (herein "securtty instrument") 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 PropeNy described in the security inshument and
locared a- . . 24Q0. $puth . Qcedn Dri ~te., . Fort . P.i erce., . Fl ori da. . 33450 . . . . . . . . . . . . . . _
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The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium
project known as . $~ASCAPE. j . . . . - . - - - . QCedq Vi l l.age . . . . . . . . . . . . . . . . . . . . . .
~Name ol CpWo~ninwm Pro~etll
_ . . . . . _ . . . (herein "Condominium F'roject").
CONDOMINIUM COVENAW'fS. In addition to the covenants and agreements made in the security inshument,
Borrower and Lender further covenant and agree as follows:
A. Assessments. Borrower shall prompdy pay, when due, all 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
Proiect.
B. Hazard Insurance. So long as the Own¢rs Association maintains a"master" or "blanket" policy on the
Condominium Project which provides insurance coverage against fire, haiards 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 in. Uniform Covenant 2 for the monthly payment to Lender ot one-
twelhh of the premium installments for hazard insurance on the Property:
(ii) Borrower's ob{igafion under Uniform Covenant 5 to maintain hazard insurance coverage on the
Property is deemed 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shall be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent
document of the Condominium 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 such haaard
insurance coverage is not maintained, the immediately preceding sentence shall be deemed to have
no force or eff¢ct. Borrower shall give Lender prompt ~otice 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, wh¢ther to the unit or to common elements, any such proceeds payable to Borrower are hereby
assigned and shall be paid to Lender (or application to the sums secured by the security inshument. •with the
excess, if any. paid to Borrower.
C. Lender`s Prtor Consent. Borrower shall not, except aRer not~ce to Lender and with Lender's prior
written consent, pafition 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 deshuction by fire 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 oE 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. Remedies. If Borrower breaches Borrower s covenants and agreements hereunder. including the
covenant to pay when due condominfum assessments, then Lender may invoke any remedies provided
under the securiry instrument, including, but not limited to, those provided under Uniform Covenant 7.
1N WITNESS WHEREOF. Borrower fias executed this Condominium Rider.
~ 121 f31 19~0 DEC 31 P!t 4~ 37
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ST,~.UC,f CGUYIY.fI A.
ROCaCR POITRAS
CLERK CiRCUtT COURi n
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E en R. Fischer
CONDOM~NIUM RIOER-t to 1 famiry-6~75-FNMAiFMIMC UNtFORM iNSTRUMENT
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