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Home My WebLink About1489CONDOMINIUM RIDER Tt11S CONDOMINIUM RIDER IS I118(IC l1115 . . ~ Z th . . . . . . . . . . . . . . . . . . (I8y Of . . February . . _ . . . . . , 19 ...$~nd is incorporated into and shall be decmed to amend and supplement a Mortgage. Deed of Trust or Deed to Secure Debt (hercin "security instrument") dated of even date herewith iven byt~he undersi ed (hgrein "Borrowcr") to secure Borrower's Note to. ... SIJN, ,BANK_ OF. ST,, LU~~E. COUNTY ~. a.~~orlda_ . . .. .. ......... 8anking. .COX.~?OXatl(~tYein "Lender") and coverin the Property descsibcd in the security instrumen and located at. . . 25I6. .So... . ~9.t~. .$~r~~t , , Apt, ,~~~04, _ Bui lding. I ~ . Fort . Pierce, . F~orida • . (vropaty Address) The Property comprises a unit in, together with an undivided interest in the common elements of, a condominium proicct known as. .~~ . WOQ~I{Al~]D , CONDOMINIUM ,APARZ'NiENTS,,_ .Bui ldin~ , I. . ............. ......... . (Name o/ Condominium Projacq . . . . . . . . . . . . . . . . (hcrein "('ondominium Project"). CONDO!1fINlUM COVENANTS. ~II 8c~dlllOfl to the covenants and agreements made in the sccurity instrument, Borrower and Lender further covenant and agree as follows: A. Assessments. Borrowcr shall promptly pay, when duc, all assessments imposed by the Owners Association or other governing bocfy oF the Condominium Project (herein "Owners Association") pursuant to the provisions of thc declaration, by-laws, code of regulations or other constituent document of the Condominium Project. B. Hazard Insurance. So long as the Owners Association maintains a"master' or "blanket" policy on the Condominium Project which provides insurance coverage against 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 rcquire, then: ~ . (i) Lender waives the provision in Uniform Covena~t 2 for the monthly payment to L.ender of one-twelfth o( the premium installments for hazard insurance on the Praperty: (ii) Borcower's obligation under Uoifoan Covenant 5 to maintain hazard insurance coverage on the Property is deemed satished; and (iii) the provisions in Uniform Cavenant 5 regarding application of hazard insurance proceeds shall bc superseded b~~ any provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium Project or of applicable law tci the extent necessary to avoid a conflict between such provisions anct the provisions of Uniform Covenant S. For any pericxi of time during which such hazard insurance coverage is not maintaincd, the immediately preceding scntence shall be decmed to have no force or efTect. Borrower shall givc Lender prompt notice of any~ lapse in such hazard insurance coverage. In the event of a dislribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the Propert~•. 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 instrument, with the ezcess, if any. paid to Borrower. ' C. I.ender's Prior Consent. Borrower ~hall not, except after notice to Lender and with Lender's prior written conscnt, partition or subdividc thc Propcrty 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 d~sEruction b~ fire or ather casualty or in the case of a taking by condemnati~n i-r emincnt domain; (ii) any material amcndmcnt to the dcclaration, by-laws or codc of regulations of the Owners Assciciation, or equivalent constituent document of the Condominium Project, including, but not limited to, any amendment which would change the percentage interests of the unit oH~ners in the Condominium Project; or (iii) the efiectuation of an}' decision by the Owners Association to terminate professional management and assumc sclf-managemcnt of thc Condominium Projcct. , D. Remedies. If Borrower breaches Borrower's covenants and agreements 6ereunder, including the covenant to pay when due condominium assessments~ Ihen I.ender may invoke any remedies provided under the securitS• instrument, including, but not limifed to, those provided nnder Uniform Covenant 7. Ix Vb~ITNESS \YHEREOF, Borrowrr has cxrcuted this Condominium Ridcr. 'JV~ ~LJ L • 1 ~' y~ JL };t:c c~,: =.,~`: ~`:•a ;! l~:`.:i.i^•.......,; ('.l~ll: r f~11~1t'... :.1 L. • ~~ `; C._E . ~ 5184~1 i~~ ~ ~j -- -ea.~~. / ~t~ ~ ~i.o+~t /~2S /~ ~ ~ NUZHAT RASHID ~~~z~349 r~~Ei489 -eonowe~ 4-0438-000-8 N2-79 ` CONDOMINIUM RIDER-1 to4 family-6/75-FNMA/FHLMC UNIFORM IqSTIIUMENT fOUTMLI~ND AAINT~NO CO ~ .~ F_ - _ ~ - ; - - -