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CONDOMINIUM RIDER
Tti~sCoNOO~-titvw:~t Rtp~tt is made this.Y: . . . . .~~f ~ . . . . .. . . . .Jay of. ~. . /~ `~~/~ t. !~`~:~. . . . .,
1981. .. and is incorporated into and shall b~ dermed to amrnd and supplement a Mortgage, Dced of Trust or Deed
to Secure Debt (herein "security instrumcnC') dateJ ~~f rven dat~ her~with, gi~~en by the undersigned (herein
"Borrower") to sccure Borrower's Note to..FIRST..EEA.ERAL. SAVINGS..ANII .LAAN..ASS.OCiATi0~1.
Q~ .1~AK~. W4R~H. ....(herein "Lender") and co~~ering the Propcrty describcd in the cecurity instrument and
located at. . . 5155 North State _ Road. .~lA, _ Fort .Pierce.,, ,Florida .334~Q . . . . . . . . . . . . . . . . . . . . . ..
(PropeAy Address)
The Propert} rnmprisrs a unit in, tagether v~i,h an undivideJ intcrest in the common elements of, a condominium
projcct known as . . ACEAN . H1iRflOIJR . CONDOMIN ILTbl. C . . . . . . . . . . . . . . . . . . . : . . . . . . . . . . . . . ~ . . . . . . . . . . . .
. (Name o/ Condomin~um Pro~ect)
. . . . . . . . . . . . . . . . ( hrrcin "Condominium Proj~ct" ).
Co~oo:~tiN~urt COYEI~ANTS. ~O addition to the covenants and agre~ments made in the security instrument,
Borrowcr and Lendcr further co~•enant and agrec as follows: '
A. Assessmenls. Borrow•cr shall promptl}~ p~}, ~+~hen duc, ali asscssmcnts imposed by the Owners Association
or other governing bociy of the Condominium Project (herein "ONners Association") pursuant to tne provisions of the
declaration, by-laws, ccxie of regulations ~r other constiwent document of the Condominium Project.
B. Hazard insurance. So long as the Owners Ass~-ciatiun maintains a"master" or "blanket" policy on the
Condominium Project w~hich provides insurance c~~~~erage against fire, hazards included within the term "extended
coverage." and such other hazards as Lender may reyuire, and in such amounts and for such periods as Lender may
require, then: '
(i) Lcnder ~~aives the pm~~ision in Uniform Ce-~cnant 2 for the monthl~~ pa~~ment to Lender of one-twelfth
of the premium installments for hazard insurance on thc Propert~~;
(ii) Borrowcr's obligation under Uniform Co~~cnant 5 to maintain hazard insurance co~•erage on the
Propc~rty is deemed satisfied: and
(iii) the provisions in Unifc+rm C'c~~~enant 5 reesrdin~ aNplication of hazard insurance proceeds shall be
superseded b~~ an}~ pro~~isions of the decl;~rati<~n, bc-la~s, ccxle of regulations or uther constituent document of the
Condominium Project or of appiicahle law• t~~ thc :!ctent nrc~ssary te~ a~~oid a conflict betM•een such provisions and
the provisions of Unifo.-m Ce~venant 5. For ~m• Er_•ricxi uf tim~ during ~hich such hazard insurance eoverage is not
maintained, the immediateh~ preceding sentrnc~ sh:~ll lx deemed tu ha~~e n<~ force or effect. Borrower shal! give
Lender prompt notice of am~ lapse in such h~rarJ imuranrr a~~~eratir
in the rvent of a distributiun of ha-r.ard i~~sur::nce pn-cee~i~ in li~u of rc~toration or repair follow~ing a loss to
the Propcrt~~, u~hether to thc unit c~r t~- a~mmun clcmcnt~. an~~ such prx~cdti pa~able t~ Borrower are hereby assigned
and shall be paid to Lender for appticati~m t~~ the sums secured h~ the sec~rit~~ instrument, with the excess, if am~.
paid tc~ Borroa~cr.
C. Lender's Prior Consenl. E3~~rruH•er ~h~il ni~i. ~rcrpt sfter notice tu Lender and with Lender's prior written
consent, partition or subcli~•idc the Pmpert~ ~r ccrosent t~~:
(i) the abandonment or terrninati~~n <~f thc ('~m~i~~minium Project. ercept for abandonment or termination
provided by law ir th~ case of subtitantial ~~structic~n bc fire or ~th_r es~ualt~• ur in the case of a tal~ing b~• condemnation
or emincnt dumain:
(ii) am-material amendment tei the declarati~~n, h~•-law~. or ccxie of regulati~~ns of the Owners Association,
or equivalent constituent docum~nt of the Con~iuminium Prs,ject, includin~, but not iimited to, any amendment ~•hich
would changc thc perc~ntagc intrrc,ts of th~ unit ~~w ners in thc Ccm~fuminium Projcct; or
liii) tne efTecwation ~-f an~ d~cisi~m h~ the (?~~n~rs .Associati~,n to te~minate professional m~nagement and
assume self-manag~ment ~-f the ('unduminium Project.
D. Remedies. If Borrower breaches Rorrow~er;s covenants and agreements Lereunder. includiag the covenaat
fo pa}• when due condominium assessments, then I.ender ma}~ in~•oke any remedies provided under the security
instrument, including, but not limited to, lhose pro~~ided under l:nifortn Covenant 7.
Iv WtT!~ESS ~'tiFttFOt-, Borrow•~r has exrrutcci thiti C'rni~i~~minium Ridcr.
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Robert F. Martin -eorrowe.
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~ osep ne L. Martin -sorrower
L #209186
CONOOMINIUM RIDER-1 to 4 Fam~ly-6 75-FNMAIFHLMC UNIfORM INSiNUMlENT
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