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HomeMy WebLinkAbout2708 CONDOI~~INIUM RIDER ~~ l ~ ~ T~i~s~'a~aor~~:~iu~~ R~nt:K iti madr thi~. . . . . ~.~ . . . . . . . . . . .~ia~~ ot ~~'~: ~~ 19$~. ., an~ is incor~rated into and shall h~ ~~~mrd t~~ amrn~i an~i ~upplemrnt a Mortgage. Dred of Trust or Deed to Sccure D~bt (herrin "securit~~ in.trum~~nt" 1 Jatc~ c~i ~•~~cn datr h~r~w~ith, gi~~en M~ thc undersigned (herein "Borrower") t~~ ~ccure Borrow~r's ?`~~tc ta_ .FIRST. .~Ell.F,RAL . SAVINGS..ANIl .LDAN. ASS.OCIATI.QD1. QF_.~./1,I~F_ WQRTH.. .__(herein "Lrnder"1 an~ co~-~rin~ the Pre+~xrt} ~le>critk~i in th~ srcurit~• instrument and located at. ?400 South State Road A1A, . #_ 303_ .,. .Jensen. Beach, . Flor~d~ . 3~457 . . . . . . . . . . . . . . ;Property AOdress) . Thc Pro~rt~~ rnmprisc~ ~ unit in, tocethrr w~ith an undi~~i~ie~l intrre.t in thr cumm~m rlcment~ of, a ce~ndominium project kn~w~n as. . . SAND DOLLAR VILLAS CONDOMZNIUM E . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .............................. (Name of ConOOm~n:um Pro~ecU . . . . . . . . . . . . . . . . 1 h~rein "C'onci~~minium Pr~~jr~t" i. Co!~na~u~.n~!-t ('rn't v:;~~ti_ In a~iiiti~~n t~~ thc r~~~rnant~ an~i ;~gre~ments mad~~ in thc securit~~ instrument, Borrowrr and Lcnder fur:hcr r~~~~rnant and agr~r as f~~UuN•~: 4. Assessments. B~~rni~rr shal! promptl~ pa~. ~+hen due, all a.scstimcnts impe>scd b~~ the Ovvner$ Association or other gcn~crning bod~• ~+f thr t'~~n~l~~minium Pr<~ject (h.rein "Own~r. A.~uciation") pursuar~t to the provisions of the dcclaration, b~~-law~s, ccxi< <~f rc~~ulatium ~ir c~,hrr r~~mtitu~nt d~kumrnt c~( thc C'<~nduminium Project. B. Hazard Insuranee. S~~ I~m_~ ~. thi• O~cnir~ A~ti~xiatiun maintains a"master" or "hlanket" policy on the Condominium Prcy~ct ~~hi~h pru~idr~ inwr~n~r c~~~rra,~~ a,~~imt tirr. h~7ards included uithin the term "extended co~~eragr." snd ~uch ~~thrr hazarcl~ :i~ L~n~rr n::i~ r~yuirr, .tn~1 in ~uch .imc~unt~ and for such peri~>d~ as Lerder mac rcquirc, thcn: (il Len~er wsi~~~ti th~ pru~i~iun in l'niturm ('~~~rn~nt ~ fur the monthh ~~~ment tc~ Lendrr ~i onc-twelfth of thc premium inst:~llm~nt~ f~u h~zani in~uranc~• ~m th~ Yr<~~rr:~: (ii? B~~rren~•~r':; ahlicati~~n und~r l'nif~~rm (~~~~nant ~ ti~ ms;~t:iin harard insurancc co~•eraee on thc Propert}• is deemed s~tisti~cl: and (iii) the prc~~•itii~ms in l'nif~~rm ('u~:nant ~ rr~~ar~1~n~~ apE~licati~m c~f hazarei insurance prck~eds shali be supe:rs~ded h~• an~ ~r«~i~i~m~ ~~f thr ~~CI3f:l(Il~ll, I~~-I:l~t~, ~ix~c uf re~ulati<m. c~r other con~tituent document of the Ce~ndominium Pruj~et c~r c,f a~~lic:ihl; l.~~c ta~ th~ e~trnt nec~~~ar~ tc~ a~~:i~l a cun(lict betK•een such prc-v~sions and the prrn•isi~ns c+f lnifc~rm C~~nrnant 5 F~~r an~ E~~ri~~~1 uf tim~ :1iir~ng :~hic~t tiuch harard imurance c~verag~ is not maintained, th~ immediatrl~ niCC~~lIIL' >rntrnc~• ~h.~ll h~ ~Jerrn~~i e~~ ha~.r nc~ f:~ri~ cTr effcrt. ~~rrou•er sha11 gi~~.: Lcnder prc~mpt nc,tire ~,f .in~ I; p~r in,uch h,n:i-.1 in~uran.t ~~~~cr:i,_~ In th~ r~~ent ~~f a di~trihutiun uf ha~;,c~i in.uras~.•~ ~r~~_,.~~ :i~ h:~, ~~t r~~t+~r:,tiun ~~r rc~a~r frllc~w~ng a loss t~ the Pm~rt~~. ~+~hether t~~ thr unit e~r t~~ c~~mmnn ~~lem:~nt~. an~ ~u~h j~r~x~cc~i~. p:l~ahle to F3e~rr~~~ti•er arc hereb~ as~igned and SFI:I{I t1l' ~:lll3 tU L~n~1cr fur a,~~lic:iti~~t-~ t~~ thr •um~ ~~~~ur:~1 h. th, ~~.:irit~ instrumene. ~ith the r~ces~, if an~~. paid tu B<~rr~w~r. C. Le~der's Prior Consrnt. l3urr~,:,~r ~~h:~l1 n;~t. r~:~~t ,~f?~r rn,ci~; t~~ L~:i~3rr :~~d w~ith Len.ier'~ priur Hrittcn cc~nscnt, partiticm ~~r ~uhd!~icl~ thc~ Prc~pcr;~ ~~r ~~~n~~nt tc~ (I) (h~ .~hasi.l~mmr[7[ csr trrmin:t!IUil l~f (t,r (~~~n~i~,m;n~:im f~~t~)iiL C'\C~~f f~~t 11h:U'itjt)IlRl~fl[ c,r termiraticm pro~~ided b~• lau~ in thr ca,t ;~f ~uh~tanti~! :i~~tru~ti~~r. h:, tim ~~r ~~,h~ r,:a~i-aln ur ~n thc ~a~~ of a tak~ng b~ c~»idemnation ~~r cmincnt ~lumain: (iil an~ matcrial amrn~lmrnt t~, thr ~l~rlc~ratic,n. h~-la~, <~r cc~c1~~ ~,f recul~tic,nt c,f thc UHncrs Association. ~~r equi~•al~nt c~m~titu~nt dc~cumrnt ~~f ~hr ('~~r~i,~m~nium Pn~i~~~- in~lu~in~_. hut n~~' lim~tr~i :.;SII~ ~Rlt'f1l~RlCllt ~hich µ'(IUIIJ Cf1~f1QC IF1C pCfCC'iIIJ~'C 1IlIC1'C~I~ ~~f lf~~ Iilil. u~~ ^i f~ Ifl tfl~' ~ i~(it~~~Ri2RiUf11 Pfl~)CC2: ~~( (iiil th~ rfiertuati~~n uf ~n~ .i«i•i~,n h~ thr (1~~~s~~r~. ~\~:~,_iatic,n tu t~rmin~t~ prc-fe~sic~ral m:~nagemrnt and 3SSUfT1C ~C~f-iil'Sfi:i~~~f11CR[ u{ (F)t (~~mciuminium Pf~~~C~I SU. Remedie~. If RorroNer hreache~ Burrower's co~enent~ and aRreements hereunder, includin~; the covenant to pa} when due condominium atisessment~, then Lender roa• in~•oke am remedics pro~~ided under the securih~ instrument, includinR, but not limited to, those pro~ ided under l'niform Co~•enanf 7. 1~ VVt ~~~ ~t 11'F~~ tt~ c~t . B~~rnns:r }ia~ r~r,utcc! ttii. (~,n.ic~minium KiJ:r. ~ ,;~/1 ~ _~ "': 3~ 16 ~ ~~ ' ~_ r ~~~. t~$1 ~~;~ ; ~ , ,- , ,~ ~- , , _, ~ ., ' L`/ "' - ~. • _ __. _ ... __ ._ _ _ _ .__. _.___ _ .._. .. _-'-._ e.r.i "r°~" ' '~• Rulo N . Conrad -6o.rowe, f~-~t C:}r'•t'1•. 5l 1 ~~~~ ~~,.t~+~'•~ ~ - _ . ,, ~; ;~:: . . ' ~' ^.,~ ~:: ~• ' ---! Y , _ - C'-~ ~"~. ~ f' ~~~~ ~ L_! !,' ~ ~ ~- i ~ _ _~ ~t-~~ ----- .-• ~ Zucille M. Conrad -BO"OrMef ,;~;~szs ~ E-:'~K :351 P~~~ 2704 CONDOMINIUM RIDER--, ~~ 4 FaT~+y--6 IS-FNMA/FHIMC UNIiORM! INSTRUMENT RRM L#219876