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FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made this . . . . . .19th . _ . . , . . . . day ot . . ~ecember ~
19 _$Q ., and is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust
or Deed to Secure Debt (herein "security instrument") dated o( even date herewith, give~ by the undersigned
(herein "Borrower") to secure Borrower's Note to FIRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender") and coverin the Pro ert describe in e curity instrument and
located at . . . . . . . .1029-A Pheasant_ Run. ~ri ve, .F~. .~i erce., . ~1 a. _ ~34~
t~owrtr AAOr~ss1 . . . .
The Rroperty comprises a unit in, t ther with an undivided interest in the common elements of, a condominium
Hi h Poin~
project knoum as . . . . 9 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
~Name o1 cwwon„murr~ Pro,ecn
. . . . . . . . . . (herein "Condominium F'roject"1-
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and Lender further covenant and agree as follows:
A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owners
Association or other goveming body oi lhe Condomtnium Project (herein "Owners Association"1 pursuant to the
provisions of the declaration. _ by-laws, code of regulations or other constituent document of the Condominium
Proiect.
B. Hazard Insura~ce. So long as the Owners Association maintains a"master" or "blanket" policy on the
Condominium Ptoject which provides insurance coverage again~t fire, hazards 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 of one-
twelfth of the premium installments for hazard insurance on the Piroperty: ~
(ii) Borrower's obliga6on 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
shal~ be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent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 hazard
insurance coverage is not maintained. the immediately preceding sentence shall be deemed to have
no force or effect. Borrower shali give Lender prompt notice of any lapse in such hazard insurance coverage.
In the event of a distribution of hazard insurance proceeds in lieu ot restoration or repair foDowing a loss to
the Property; whether to the unit or to common elements. any such proceeds payable to Bonower are hereby
assigned and shall be paid to Lender for appfication to the sums secured by the security instrument, •with the
exc¢ss, if any, paid to Borrower.
C. I.ender`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 tor 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 a~nendment to the declaration. by-laws or code of regulations of the Owners
Association, or equivalent constituent document of the Condominium Project, including, but not limited to, any
amendment which would change the percentage int¢rests 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 C~ndominium Project. _
D. Remedies. If 8orrower breaches Borrower's 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~WITNESS WHEREOF. Borrower has executed this Condominium Rider.
1981 JAV 16 ~.~ :~~ 33
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° 513913
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Cat erine N. Allan _8«.a,r
CONDOMINIUM RIDER-~ to 4 Famdy-6/75-FNMA/fHLMC UNIFORM INSIRUMENT
Form 250
BO(lK 346 P~GE ~~4~
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