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HomeMy WebLinkAbout1520CONDOMINIUM RIDER _ Tt~~t ('c~~~x~~~iNiu~t Rro~ R i~ madc Ihi. 19Ch d.~y «t _ December • 1~- ~, and is i~uut~x~ralc~l in1i~ anil ~hall ix Jc~nir~l ~u :~m~nJ an~l supplcmr~~t ~ M~~~i~agc. Ihc~l u! l~rucl o~ Ih:cJ tu kcurc lhht (hcrcin ".ccuriry in+lrumrnl")~JatrJ o( rvcn datn c~r~with, givcn by thc unJcr~igncd (hcrcin ••Hurrowcr" ) ~o cccurc [3c~~r~wrr'c N~~c to . J~IIV pj~T~l LIFE jNSjjR~IC~ QCl"Q~ANy (ficrcin "Lcndcr') and covcring Ihc Propcn~ Jc~critkJ in thc srcurity in~trumcnt and lacatcd at Unit 106. Island Beach Club, Nutchinsm Island, Florida lP~ovwtr ~ed.•ssl Thr Pmpcrry comprius a unit in, toFcthcr with an undivi~IrJ intrrcst in th. cummon clcmcnts of, a cunJom~nium prowcl known as ~p BFA(1~ Q~B, S CO[tdo[oa.11~t1n ~N~me a Coneom~n~uen v.oieu- (hcrcin "Condominium Projcct"). ('ONDONtIN1UM C~O~t?NANTS. 111 addilian t~~ thc cov~nants and agrc~mcnts madc in tfic sccurity instrumcnt. Barrowrr anJ LcnJrr furlhcr cavrnant an~l ag~cc a~ f~~llawa: A. A~.~cxcmcnls. R~~rn-wcr sh:dl pramptly pa~, w~Fx n du~, all as~crssmcntc imposcd by thc Owncrs Ass~xiation c-r ~-Ihrr ~e~wcrning Ix~:ly af Ihr ('ond~~minium Projcct Ihrrcin "Uwncn As.~kiatiun") pursuant ~u ihr pnwi~iunc ut thc IICI'I:Ifalion, hy-lawc, c~xlr of rreul:~tiuns ~~r olhrr cumtiturn~ J~xumcnt u( Ihc Condominium Pmjcct. B. llazard Insurancc. S~- lung ac ~hc Owncrs A1«xiati~~n maintains a"m~stcr" or "blankct" policy on the ('unduminium Prrjrrt ~vhi~h prc-vi~rs insurancc cc-~•~ raLr agaimt firr, haiarJs includcd v-~ithin thc Icrm "rxtcndcd c~~vcrabr: ' and such othcr hazhrdc ac l.cnJcr may rcquirc, anJ in such amuunts and for such pcricxls as LcnJcr may rcquirc, thcn: - (i) l.cndrr waivcs thc pr~vici~~n in Uni(orm C~+vcnant 2 for thc month{y paymcnl to Lcndcr of ~nc-twc{fih ~~f thr prcmium in~lallm~ntc far h:v:~r~l incurancc ~~n thc Pro~xrty: lii) liorniwrr's ~~bligatiun ~mdcr Unit~~rm Cu~~cnant 5 t~ m•rintain hazard incurancc rnvcragc on thc Prupcrty i. dccmcd .atislicJ: anJ liiil thr pr~~ri~ii-nc in Unifurm ('~~vrnant 5«e:~nlin~ :~~~i~~ati~m ~~f h:~rard inwranrc pn+tccdti ch:d) Fx w~x•rK•ilrJ t,~~ am ~~iu~i.i~~m ~~f Ihr ~Icclaratii~n. 1,~-~:~w.: c~alr uf «•~ulali~~n. ur c~thcr cun~lil~rcnl ~kKUn~rnl ~~1 Ih~ ('~md~m~inium f'n-jrrt ~~r ~-f :~p~,iirahlr I:~w tu thr rx~rn~ nrrr~~ary tu avui.l :~ runlli~t tklw•ccn .urh pr~wi~ium .~n~l thr ~-ra~i.ium c,{.l-~,i(orm ('avrn.~nt S. I=~~r an} ~xri~xl ~~f tim~ during a•hich ,uch ha~ard imuranrc ct~vrraFr i. nut• maiMaincd, thc U-lllll'llt.IICIY ~lfl'Cl'lIl{1!! unt~nct ~h:~N tx dremcd w ha~~r nu (~~rcc or c8~ct. Bi-rmv-•cr shatt givc Lrndrr prumpt n~Hirc ~~f any lap.r in .uch hazanl ia~ur.~nrc ruvcr.«c• In ~hc rvcm ~~f a Ji~Irihinian i~f ha~ard in.uranrr pnkcrds in liru uf rr.turatiun c~r rcpair falluwine a 1~-cc to thc Pr~~~x rt~~, whrlhrr 1~~ thr onit ~~r lu c~~mman clcnu n~.. :my ~urh pmcrcd~ p:iyaMr tu Borrc~v-•cr arc hcrcby as~igncd anJ ~hall hc paid tu 1_rndcr fur applic.iti~-n a- thc ~um~ crrurcJ by ~h~ ~rcurit~ instrumcnt, N~iih thr cxcr.~, if any.. paiJ ~o Borruwrr. , C. I.endcr+ Prior ('onscnl. {3~~rn~w~cr ~h:~ll nut. cxcrpt aftrr nuticc tu Lcn~kr and with Lcndcr's priur wriUCn cunu:nt, partiti~~n ~~r ~ohdiviJr thr P~~-~x~l}' ~~r con~ni 1~-: (i1 1hr afian~h,nmritit ur ~crminatiun ~,f tln ('~md~~minium Pr~~jrct. rxcrrt fur abandc~nmcnt ~~r trrmina~i~m proviJc~l b~' law in thc ca~c af uib.tanticd ~~struc~ica- hy lirc ~•r ~~Iltirr ca~u:dty ~~r in th~ ~:ti~r ui a tc~{~inE h~~ ri,nJcmnaliun ~-r cn~incn~ ~I~~m.~in, (~il an~' m:urrial aiu~n~lmcnt ti- th~ J~cl:iraliun. hy-laws nr «xlc u! rr~ulatiun~ u( ttn OHnrr~ AcccKi:itiun. ~~r rauival~•n~ c~~ns~iturnt ~liKUmrn~ ~-f thr ('un~l„minium Pruj~cl. includin~. hut n~~~ IimitrJ ~a. ~n~ amcnJmrn~ which w~u~lil chanCr Ih~ ~~rrc~nt~_~c imrrr.~~ ~-~ thc unit ~~Hncr. in Ih. CunJuminium Prujrct: ur lii~l ~hr rllrcwatiun uf am drei~iun h~ ~h~ n~+n.r~ /\ss~xia~ii-n 1~~ tcrminatc-pn~irsciona) managcmcnt anJ a•~umc srlf-man:~~~mc~~! ~-f Ih~ ('uncl~,minium Pruj~ct. 1). Kemedie~. tf ftnrr~-HCr hreacfic~ Rorrower'.~ cm~enants and aRnecmenls herennder. indudinR Ihe coven~nt to pac Nhen due condnminium a«e~.timenlc. Ihen I.ender ma~ im~nke anv mmedies provided unde~ Ihe securit~ ia.lrumenl, i~cludiaR. but not limilcd !o. thou provided undcr Unitorm Covenanl7. IN Wirrvrss W~tFRt.oF. B~~rn~w•rr has exrcutcd thi. ('onJ~~minium Ridcr. !~~/~ ~ BUQ~M ' ' ' -Borrower . L~.~ iS , -Bo~rower 513234 CONIIOMIHIIIM R~DER -~ to ~ Famdy-6l75-FNMAlfHIMC UNIFO~M INSTRUMENT co+soa~o~*to •vs~M[sa -o~..s, ~wc. 1981 !,s" 13 A!! 3~ 3~ ~ ~-~CC thr ~ t: h!et1 --- - ---- -- SI.i!lClf L , roGE1t ~ Itpti _ . ~:ERX Ci^nCU!? GCJf::Q . ~t. .^,. ~ t. ' . - q~{ . 4" ~ ~ aa~~~ pac~~.rJ~.~ F A w~ ~ t -Xs:~~.+.+rn=,.'~.,M;J~ ~ _.J/ti~''cii'a.~."a,1~^'~ '`' "~~~.~S~T•'.~L.."--_.~-'M.~+~."~ih!'S~,d:+'a~.`:..~.'r;.~L'!7r~'.../r:.e.~!~~•. ~'~-e'.,