HomeMy WebLinkAbout2128_.1_ CONDO~ViINIUM RIDER
` ~i/ ~~, ~~~
~+~s Coxnon~iH~uH RtoER is made this~ . . . . . . . . . . . . . . . : . . . . . . . day ot. . . . . . . .
..................~
19 .._ ~ and is incorE±orated into and shalt tse ~c; med to amcnd and suppiemcnt a Mortgage. Dced of Trust or Dced
to Secure Dcbt ( hercin "security instrumcnt" ) dated of cven datc herrwith, given by the undenigned (hercin
"Borrowcr") to sccurt Borrowcr's Note to. .$I$CAY.NF ,F~p~~ .~~~l~~i~~_ ~p ~,q~ ASSOCIATION
• • • • • • • • • • • • . . . . . . . . . . (hercin "Lcnder") and covering the Property dacribed in the security instrument and
located at. . . . . . . .?U40. SOUTEI .O~FAN DRIVF.,. FOHT ,PIFRCFi _FLORIDA .~~-:50 . . . . . .. . . . . . . . . .. . . . ..
(P~oDN1Y Addnss) . . . . . . . . . .
The Pr~peny comprises a unit in, together with an undivided interest in the common elements of, a condominium
projcct kn~v~n as. . . . _ . . .~~ACf1TREE II CO;VDOMINI1lM . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(N~ms o/ Condommium Proj~cq
• • • - - • • . . - . . . . . . (herein "Condominium Projcct"). -
Co~.oo~tixwt-t COVENANTS. ~Il addition to thc covcnants and agreements madc in the security instrument,
Borrowcr and Lendcr further covcnant and agrec as follows:
A. Assessments. Borrower shall promptly pay, when due. all assessments imposed by the Owne~ Association
or othcr go~~erning baiy of the Condominium Project (herein "Owners Association") purauant to the pruvisions of the
declaration, b}•-laws, ccxie af regul:~tions or other constituent dc~cument of the Condominium Pro~crt.
B. ~Iazard Insurance. So long as the Owners Association maintains a"master" or "blanket" policy on the
Condominium Prujcct which provides insura~ce coverage against fire, hazards inciuded within the term "extend~d
coverage." and such other hazards as Lender may require, and in such amounts and for such periods as i.ender may
requirc, thcn: ,
~ (i) Lcnder waives the provision in Uniform Covenant 2 for the monthly payment to I.tnder of o^e-twelfth
o! thc prcmium instalimcnts for hazard insurancc on thc Property;
(ii) E3orr~w~cr's obligation undcr Uniform Covenant S to maintain hazard insurance coverage on the
Pra~erty~ i~ decmed satisfied; and
(iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall bc
superseded by any provisions af the declaration, by-laws, code of regulations or other constituent document of the
Condominium Project c-r of applicable law to the extent neeessary to avoid a eonfliet between sueh provisions anel
.~_ _ _~ . , ~~ - ^
•~~. ~.~~~~~.i~~.~~~ ~n ~i~uv~n~ Lvvcudui ,i. I'u1 el:Y ~CfIW UI Ume Uqf1Og WhICh SUCh heZ3fd IOSU~HfICC COVttBgC IS ItM
maintaincd, thc immediately prcreding sentence shall be deemed ta have no force or effect. Borrower shall givc
l_ender prompt notice of any lapse in such hazard insurance coverage.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to
the Propcrt~~, whether to the ~nit or to common elements, any such proceeds payable to Borrower are hereby assigned
and shall be p:~id tc~ Lender for application to the sums secured by the security instrument, with the excess. if any.
paid tc- Borrowcr.
C. Lende~'s Prior Consent. Borrc~wer ~hatl not, except after notice to Lender and with Lender's prior written
consent, ~artiti~~n or subdivide the Property or consent to:
(i) thc abanJonmen: or termination of the Condominium Pr~ject, except for abandonm~nt or termination
pro~~ided by law• in .he case of cubstantial dcstruction by fire or o'i cr casualty or in the case of a taking by condemnation
or cmincnt domain;
(ii) an~~ material amendment to the declaration, by-laws or code of regulations of the Owners Association,
~r equivalent c~mstituent document of thc Condominium Praject, including, but not limited to, any amendment which
would ch-rnge thc percentage intcrests of the unit owners in the Condominium Project; or
(iii) the e(icctuation of any decision b~• the Owners Association to terminate professional management and
assumc scit-m3:~~~emcnt of thc Ccinduminium Projcct. ~
D. Reme~lies. It Borrower breache~ Borrower's covenants and agreemeats hereunder, including the covenant
to pa~~ when due condominium asses~sments~ Ihen Lende~ snsy invoke anv remedies provided under the security
intilrument, inctudin~~ but not limited to, those provided under Uniform Covenaal7.
IN WITNESS i~Vy~ F r wc ~^ t` cuted this Condominium Rid~_ _
~ ~./ ' ~ ~ • I ~ ~~ . .
`~i / /,~:.v~r.~_ _i%- •~ . ._s%~ tSEt~I,) k ~ ~ ~ t~'JZGf~ (;;EAL
AI.I~1?~ISO P.OBLES, ~*iD . M11~2I0 T. . , 11.~JD
Y
~ . ~ t,, ~
.- ~
~~./~ ~-ft~,L ,~,(t ~- ~y
(~~~u.,) ~:~~ ~ ~ ~.-_ _ ~_ ~ ~ (s~r
)r'1~OF3I.~`S, HIS WiF~ J11I~I;T Rd.'~RO, HIS G~TIFE
'~ ~ ~CCC~!~ ~u~C?~~t' (SEtIL) ~ , ~
.l~r~ ~ ~ ,E'CtYI~ (ST.1~1_
• F' ~F2I) V. [~7.ZF.0, A SIN~.E N!~"] P??Fi~I,TA, 11I~ID
x~~ ~' C' ~1~~. . (SE1~I.) ~~ ~_.~ ~~ ~ ~ . ~
' (SF11I
'~1''N ~ •. ~ - . . . , ~'D (;IS ~I; PEF~ILTA, HIS WI~y'E
~ / ~ ~
~• ~ r~•l '< < ~ - l~!~(• 1J < ! ', , ($I',j1j,) ~:' '~~~C~~,l'yt.~/~t,tG~ ~' ~ ~~~'~ (SF.~1I
N'AFt?11 T. RC~I~ , HIS ~~TIrE :~?QMII,IIINO AUCORTA, ~1IVD
CONOOMINIUM RIOER-1 co~ f~mily-6l75-iNMAIfNIMC UkIf01lM INSTRUMEMTy ~f /` ~-•
. -~ 1' ~~. J ~ ~ ' ' /A~- ~j ~~i.~
}Z ~~QT7T'A, fi ~+IIFF.
~~;'~k 3~1 Y«E 2124
19