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CONDOMINIUM RIDER
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'IliisCoNOOM~NwM RtnER is made this. . . . . ~ . . . . . . . . . . . . . . . . . .day of. . . . . . . . . . • • •,
19.82., and is incorporated into and sha!! be decmed to amend an~l ~upplemcnt a Mortgage. Deed of Tnut or Detd
to Secure Debt (herein "security instrument") dated of even datc herewith~ given by the undersigned (herein
"Borrower") to secure Borrowcrs Note to. .FIRST..FEDERAL. SAVINGS..ANJI .LAAN..ASS.OCIATI.~~I.
Q~ ,~AKF. ~4~~~.....(herein "l.ender") and covering the Property described in the security instrument and
located at...9400 South AlA,Jensen Beach, Florida 33457,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
• . . . . . . (PropKtY Addross)
The Property comprises a unit in, together with an undivided i~terest in the common elements of, a condominium
project known as ..............O~.EAN TOWERS CONDOMINIUM.B...................................
(Name of Condominium Proiecq
. . . . . . . . . . . . . . . . (herein "Condaminium Project").
CONDOMINIUM COVENANTS. ~f1 addition to the covenants and agrecments made in the security instrument,
Borrower and Lender further covenant and agrec as follows:
A. Asses.cmeats. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association
or other goveming body of thc Condominium Project (herein "Owners Association") pursuant to the provisions of the
declaration, by-laws, code of regulations or other constituent document of the Condominium Project.
B. Hazard Iasurance. 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
require, then:
(i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to L.ender of 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
Property is deemed satisfied; and
(iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be
saperseded by any provisio~s 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 a~oid a conflict between such provisions aad
the provisions of Uniform Covenant 5. For any period of time during which such hazard insurance coverage is not
maintained, the immediately preceding xntence shall be deemed to have no force or efiect. Borrower shall give
L.ender prompt notice of any lapse in such hazard insurance coverage.
In the event of a distribution of hazasd 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 payabie to Borcower are hereby assigned
and shall be paid to Lender for application to the sums secured by the security instrument, with the eacess, if any,
paid to Borrower.
C. Lender's Prior Conseol. Borrower shall not, except after 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 abandor-ment or termination
provided by law in the case of substantial destruction b~ fire or other casualty or in the case of a taking by condemnation
or eminent domain;
(ii) any material amcndment 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 unit owners in the Condominium Project; or
(iii) the eftectuation of any decision by the Owners Association to terminate professional management and
assume self-management of the Condominium Project.
D. Remedies. If Borrowe~ breacbes Borrower's coveo:nts aad agreements bereunder, includiug tbe covenaat
to pay whea due condominium assessments, then Lender may in~oke aay remedies pmvided aader t6t secnrity
iastroment, includiag. but not limited to, t6ose provided under Unifora~ Covenant 7.
IN WITNESS WHEREOF, Borrower has executed this Condominium Rider.
~q81 NAR I 6 P~1 1~ 03
FIL[C Ph['=LON:~iO
S~. L~IC CGUN S Y. F t r
ROGER POITRAST
c~Eax c+acuij coua.
a: Cc~~n ~t F:r ~.' _~
5204'7'7
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David Green -~fO1M~'
//` ~%vi'-~Pif ' ~ ~ ` ' rt~
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Muriel G. Green ~OfOM1'
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RRM LN21:866
CONOOMINIUM RIDER-i to 4 Family-6/15-FNMA/FNllIC UNIFORM INST~UMENT