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HomeMy WebLinkAbout0275~ CONDOMINIUM RIDER QTt+~s CONDOMINIUM RIDER IS IT13(IC IIIIS. . ti~. .~~- . . . . . . . . . . . . .~ay of. ~~JS-~~!~:!. . . . . .. 19.vV, and is incn•poratcd into and shall bc dcrmcd to amcnd and supplemcnt a Morigage, Dced of Trust or Dced ta Secure Dcbt (herrin "sccurity instrument") datcd of even date herrwith, given by tFx: undersigned (herein ••Borrowcr") to s~cure Borrowrr's Notc ta. . $~$~YN$ .F~A~~e .S~Y~N~S. ~1NR . ~4AN. /,:S~RG~A~~~~1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . ( herein "Lcndcr" ) and covering the Propcrty drscribed in the security instrument and locatcd at. . . . . . °800 SOUTH AIA, ~108 JFNSEN RF.ACH FLORIDA 334~7 . . . . . . . . . . . . . . . . . . . . .. ........+ ...............,. .. (Property AAdress) Thc Pmpcrt}~ c~mprisr~ a unit in, t~~gcthcr with an undiviJcd intrrest in thr r~~mmon clcmcnts of, a condominium Tet ~;~i~ pc~~~t ~Li1B projcct kn~~wn as .............. ...............~---......................................-•---• (Name of Co~dom~n~um Pro~ect) . . . . . . . . . . . . . . . . ( hcrein "C~+ndominium Projcct" ). ( oy[x-~nHtut-~ Covt_!vqNTS. In addition to thr a~v~nants and agrerments made in the srcunt~~ instrument, Borrow~~ and t_cnd~r furthcr rnvrnant and agrec :~s follow~s: A. t~ssessmenls. Bur~c-vrrr shall pmmptl~~ pa~•, w•he~ due, all asxs~ments impcned b~• the Owner$ Association or othrr go~~rning hcx1~~ c-f th~ C'ond~~minium Project (hrrcin "Ua•ncr~ Associatian") purwant to thc prmisions of thc declaratiun, b~~-law~~. ccxie of regulati~-nc ~~r other ronstiwent document of the Condominium Project. B. Hazard Insurance. S~~ 1~-ng as the Owners Asu~ciation maintains a"master" or "blanket" polic~ on the Condc~minium Pmjcct ~hich pruvidcs insurancc co~•cragc against firc, hazards includcd w~ithin thc lerrn "cxtcndcd c~v~ragr: ~ ana such othcr h~T:-r~1, as t cnd~r ma}~ require, and in such amounts :~nJ for such pericxi~ as Lender may - icquirc, thcn: ~ (i1 Lender ~~ai~•es thc pmvisiun in Unifi~rm C~~~~cnant 2 fc~r the mc~nthl}• pa}ment to Lender of one-twelfth uf thc prcmium in.tallmrnts f~~r haTar~i insur.+ncc on thc Propcrt~•; fii) B~-rn-wrr's ~~blii~ti~~n un~lrr l,'ni[~~rm C~-vcnant 5 tc~ m~intain hazard insurance coverage on the Prc~pcrt~ i, ~ircmcd satisticd: and liiil thc pr~~~i.iuns in t?nif.~rm ('u~~cnant 5 rrear~fing applicatiun uf h~zard insurancc procccds shall bc su~rncdrd h~ an~ pnnisi~~m uf the clrrl~ration, b~-law~s, c~x1e ~-f regulatiuns or uthcr cunstituent document c~f the ('~~nd~~minium Pr~~jrct ~-r uf applicable law t~~ the extent necessar}~ t~~ a~'aid a ccmflict between such provisions an~i thc pr~n~itii~~n~ ~~f l'nif~~rm ('c-~~rnant 5. F~~r an~~ Fxriod of timr during v-hirh such hatard insurance covcragc is not maintained, th~ immr~ii:etel~ prcccding sentenrr ~hall tx Jeemcd t~~ ha~~~ no [orce c-r efTect. Borrower shall gi~~~ Lcndcr pmmpt nutire ~~f am lapsc in surh hararJ insuranrc cc~~~rragc. In thc r~~rnt ~f a distrihuti~m c~f hazard insurance prc~ceeds in lieu c~f resturation e~r repair following a loss t~ thc Pro~xrt~. ~hcthcr to thc unit or tc~ c~~mm:~n elrmcnts, am wch prcxrcds p~~•ahlc to Borro~~cr arc hcrcby asrgncJ and tihall tx p:~i~ t~~ Lrndcr fc~r applicaii~m t~~ thc'sumti sccurcd h~~ thc sccurit~~ instrumcnt, with thc cxccss, if am. paid t~, ~3~-rrc,v-cr. G Lendcr'~ Prior Cunsent. Burr~~~rr SIl"JII IIUI, ~Xl'CFII :,ftrr noticc tu Lendrr and with Lcndcr's prior v-•rittcn c~mcnt. P~rtiti~~h ~-r Subdi~~iJr thc Pm~x~t~~ :~r a~nsent tc~: ~ (i) thc ~han~~mmcnt or terminatiun ~~f the (~~~n~lc~rn~nium Prujcct, c~crpt fc~r aband~nmcnt c~r tcrminati~~n pro~ idcd ht~ la~~~ in thr ra~~ uf wh~tantial ~f~stru~tiun b} firc ~r uthcr ca~ualh~ c~r in thc casr ~f a taking b}~ condcmnatic~n ~~r cmincnt dc~m:+in: (i~1 :im m.~tcrial :~mrn~mcnt ti- thr ~kclarati~,n. h~•-law~ or ccxfe ~~f reeulati~-ns ~~f thc nv-•ncrs Association. ~~r cyui~alrnt c~~n~titucnt ~1~kumrnt ~~f th~• ('i~n~fummium Pn~jrct. inclu~fing, hct n~-t limitcd ti~. an~ amendmcnt w~hich w~,uld changc thr Enrrcr~tacr intrrr~h .~f thc unrt u~ncr. in thc Cund~~minium Pn~jecr, or (iii) thr cfTcctuatum ~~i am .1rri~i~m h~ thc nwnirs AsSUCiatiun t~~ tcrminatc profcssional managemcnt and :~~sumr xlf-mana~cmcnt c~f thr ('~~n~iuminium Pmjcct. ~ D. Remedics. If Borrower hreachcs Borrow~er'~ co~enants and a~{reements hereunder~ including the covenanl to pa~ when duc cundominium acsessmeMs. Ihen I.ende~ ma~~ invoke any remedies provided under the securit~ in~trument, incl~~dinR. but nol limiled to,lhose provided undcr l.'niiorm Covenant 7. • 1~ ~ti`irti~ ~. ~~'t~tRtc~t. [3~,rn-H~r ha, rx:~uted thi~C~on~fuminium Ridcr. %~ ~ GF'.ORG~ AR. ~lS, Ar1D -Borrower -eoibiM~• / /~ . ~ . . _~- /~- ".s ' '' ` ,-. -- - ---- ----- ------- ~Borrower ~o"OMf~• DOF.I4 R. PARSONS, HIS FfIP., -Borrower -Borrower 51'~'734 1981 f~:: 23 P':? 2~ ~~ CONDOMINIUM RIOER-t to 1 iam~ly-6175-fNMAIfNLMC UNIFORM INST~UMENT i-14 C~h~„" !: ~'•:~ •. S ~ ll'C'E ~.~ ~~ 7.' ; ii['Grp PC!t~... ~ CtEr-~ C~~ _ „_ . -~ . ~ ~ . . ~' f . . . ~ ~ ~ ~ . . - ~~ ~ J .- , - - -- ----- -- 8~DK349 P~~~ ~75 ~ . ~ .~~~__m . _ ~ , ~ r_ . . . - - _ ' ' -: __~ ~~~