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! CONDOMINIUM RIDER
TIIIS CONDOI-11NIU~i RIDER IS R18(~C tFlis. . . . . .day of. . . . . ~~. .' ..
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19 ,.~~ and is incorporated into and shall bc decmed to amcnd and supplcmcnt a age, Dced of Trust or Deed
ta Secure Dcbt (hercin "security instrumenC') datcd af even date henwith, given by the undersigned (hercin
"Bo~ro~•cr" ) to sccurc Borrowcr's Not~ to. . ~~SC~YH~ ,~~~~#~ _~~y~NG~, ~R .~,q~t, ~S~QC,~A~~O~ . , , , , ,
• • . • • . . . . . . . . . . . . . . . . . (herein "Lcnder') and covrrin~ the Propeny described in the security instrument and
2~100 SOlJTH OCEAN ALVD. ~ I7525, FORT PIERCE, FLORIDA 33~1`0
locatcd at .....................................................................................
(Property Address)
Thc Propcrty comprius a unit in, togcthcr with an undividcd intcrest in thc common elcmcnts of. a condominium
CATAMARAN II
projcct known as ..............................................................................
(NSrt-e of Condominium Projecq
. . . . . . . . . . . . . . . . (hcrcin "Candominium ProjccC').
Cowac~HiNiunt CovENANTS. I11 addition to the co'venants and agrecments made in the ucurity instroment,
I3orrowrr and Lendcr (unher covcnant and agrec as follows:
A. Acsessments. Rorrower shali promptly pay, whcn due. all assessments imposed by the Owners Association
ar othrr ~o~•crning bodp of thc Condominium Project (hcrein "Owner~ Association") pursuant to the provisions of thc
declaration, by-laws, code of rcgulations or other constituent dc~cument of the Condominium Project. -
B. flazard insurance. Su long as the Owncrs Assaciation maintains a"master" or "blanket" policy on the
Condominium Project which provid~s insurance coverage against fire. hazards included within the term "extended
coverage: ' anJ such other hazards as Lcnder may rcquire, and in such amounts and for such periods as Lender may
requirc, thcn:
(i) Lendcr waives the provision in Uniform Covcnant 2 for thc monthly payment to Lcnder of oue-twclfth
of thc prcmium installmcnts for hazard insurancc on thc Property;
(ii) Barrower's obligation undcr Uniform Covenant 5 to maintain hazard insurance coverage on thc
Propcrty is dccmcd satisficd; and ~
(iii) the pro~•isians in Uniform Cavenant 5 regarding application of hazard insurance proceeds shall be
supcrseded b~• any provisions of the dcclaration, by-laws, code of regulations or other constituent dceument a[ thc
Condominiuin Project or of applicable law to the extent necessary to avoid a conflict between such provisions anci
thc provisions of Uniform Covcnant 5. For any period of timc during which such hazard insurance coverage is not
maintained, the immediately preceding sentence shall be deemed to have no force or eRect. Borrower shall give
Lcnder prompt notice of any lapse in such hazard insurance coverage. .
. In thc cvcnt of a distribution of hazard insurance proceeds in licu of restoration or repair following a loss to
thc Propcrty, w hcthcr to-thc unit or to cammon clcments, any such procecds payable to Borrower are hereby assigned
and shall be paid tc~ Lender for application to the sums secured by the security instrument~ with the excess, if an}~.
paid to Bnrrowcr.
C. Lendc~'s Prior Consenl. Borrower shall not, except after notice to Lender and with Lender's prior written
consent, ~artitian or subdivide the Propert} or consent to: _ ,.
(i) the abandonment or termination of the Condaminium Project, except for abandonment or termination
provided by law• in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation
or cmincnt domain:
(ii) any material amendmcnt to the declaration, by-laws or code of regulatians of the Owners Association.
~~r equivalent c~mstitucnt dc~cument of thc Condominium Project, including, but not limited to, any amendment which
would changc thc pcrccntage intrrests of thr unit owners in thc Condominium Project; or
~(iii) the eRectuation of any derision b~• the Owners Association to terminate professional management and
assumc sclf-managcmcnt of thc Condominium Prajcct.
D. Reme~lies. If Borrow•er breachec Borrower's covenaats and agreements hereunder, including the covenant
to pay when doe condominium assessments. Ihen Lender may invoke any remedies pmvided under the secnrity
instrumcnf. incl~~dinR, but not limifcd to, those provided under Uniform Covenant 7.
IN WITNESS Wt1EREOF, Borrowcr ha~ cxrcutcd this Condaminium Ridcr.
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v - . INNI, AND -Borrower
a~? 9~2c.~- a~ .
~ M!C'ftGARF.'* M. 0'QUINN; IS I~RF~orrower
_ 1; c- c- t~ , i~`--~G~.~ c.~ .--" i;~
~PF.TER A. THEAKSTON, ANb ~ '-BorroWer
~Jt~.~n• } C'~ - ~ ~1 t1~~~r../
'~ IRENE B. THEAKS'!'ON, HIS !~IIFF. -eo.rowe.
-Borrower
CONDOMINIUM RIDER-1 to 1 family-6/15-FNIdAIFHLMC UNIFONM INSTRUMENT
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513960 -Borrover
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