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FIRST FEDERAL. SAVINGS AND LOAN ASSOCIATION
OF FORT PIERCE
CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made this . . . . . l lth . . . . . . . . . . day of . . .December. . . _ . . . ,
l9 .$Q ., and is incorparated into and shall be deemed to amend and supplement a Mo~tgage, Deed of Trust
or Deed to Secure Debt (herein "security inshument") dated of even dale herewith, given by the undersigned
(herein "Borrower") to secure Bonower's !~lote to FlRST FEDERAL SAVINGS AND LOAN ASSOCIATION OF
FORT PIERCE (herein "Lender") and coverin the Pro rty , described in the security inshument and
located at . . . . . _ . .3451 N. .A-1-A,. Fort ~ierce, ~~or~da
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The Property comprises a unit En, together with an undivided interest in the common elements of, a condominium
project known rs . . Cal i.forni a. East . . . _ _ _ , . . . . , _ . .
~N.me or coneom+n~um wo:«n
. . . . . . . . . . (herein "Condominium F'roject"-.
CONDOMINIUM COVENANTS_ In addirion to the covenants and agreements made in the security inshument,
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 gove~ning 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 lnsurance. So long as the Owners Association maintains a"master" or "blanket" policy on the
Condominium Project which provides insurance coverage against f've, 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 oi one-
twelfth of the premium installments for hazard insurance on the Property:
(ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the
Propv_rty is deem¢d satisfied: and
(iiil the provisions in Uniform Covenant 5 regarding application of hazard insurance prceeeds
shall be superseded by any provisions of the declaration, by-laws, code of regulations or other constituent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 Uni(orm Covenant 5. For any penod of time during which such hazard
insurance coverage is not maintained, the immediately preceding sentence shall be deemed to have
no force or eHect. Borrower shall 'give Lender prompt notice of any lapse in such hazard insurance coverage.
In the event of a dishibution of hazard insurance proceeds in lieu of restoration or repair following a loss to
the Property, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby
assigned and shall be paid to Lender for application to the sums secured by the security inshument. •with the
excess, if any, paid to Borrower.
C. Lender`s Prior Consent. Borrower shall not, except aftFr 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 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 of the Condominium Project. including, but not limited to. any
amendment which would change the percentage interests of the ~~nit owners in the Condominium Project: or
(iii) the effectuation of any decision by the Owners Associati~n 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 condominium assessments. then Le~nd -~ a~r-; e any remedies provided
under the security instrument. including. but not Ifmited to. ~h ee~ provided under orm Covenant 7.
IN W(TNESS WHEREOF. Borrower has executed tFy~Condominium Rider.
1981 F~~": 26 A~~ ~~ 18
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