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- PLANNED UNI~' DE'~ELOPMENT RIDER
THIS PLANNED UNIT DEVELOrMtNT ("PUD~~) RIDEII ii made this 7th diy o[
_ DeGember , 19 Si ~ and is incorpontcd into and shall be dcemcd to amend and supplement
a Martgaae~ Deed n( Trost or 0.-ed to S~;ture ihbt (hercin "sccurity instrumcnt") dated ot cven datc her~with, given by
the undecsi~ncd (herein "Borrowcr") to sccur~ Borrowcr's Note to C i t i zens Federai ~
Savings and Loan Association
(hcrein "Lender") and coverinE the Propetiy descr~'bed in tbc
security instcument and Ixatcd u 1401 SE Coichester C i rcl e
~ Port St. Lucie Florida 33452
fJ+oo«'tr Aeen~al
The Propcrt~y compr'sa a parcel of land improved with a dw~eqin=. which. together with
other such parcels and artain common sreas and tacilitia, aU as dacribod in -
That Dec{aration of Covenants and Restrictions dated November 10, 1980 and recorded ,
on Ja~tsary i9~ 1981 in O.R. Book~346 at Page 2967 of the Public Records of St. '
Lucie County, Florida I,
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(her~in "Declantion"), Iornu a planned unit dcvelopment known as '
. Viilas of Village Green
(hereia "PUD"). cr+a~ne o~ n.~n.s un;e o.wiow~.Ra _
PLANNED UN1T DEVELOrMENT COVEHANTS. In iddltiOtl t0 tllt COVEnaAti al:~ i~tC8IDelftf ti1S~G 1Q t~1t iCCLrit~l
inttrument, Borrower and I.tnder iunh~r covenant and agre~ u foltovrs:
A. TUD OblFpdo~s. Bortower shali perform all ot Borrower's obligations wmder the: (i) DocIaruios; Ci}
srticlu ot inoorpontion, trust instrument or any equivaknt document requirzd to atablish t6e homoowners
association ar equiv~lent entity managing the oommon arcas and fuilitia ot the PUD (herein "Ovmea Assoastion");
snd (ui) bylawa, if any, or other nala or regulations of the Owners Association. Borrower shali promPUY F~Y. w~ -
due, alt assesssments impoud by the Ownets Association. . .
B. Hanrd lasaraoce. In the event o[ a distribution of haurd insnrance procads in lieu of r~eswratioA or repair ~
following s loss to the common areu and tacilities of the PUD, any such prooeeds payibk W Borrower sre 2~enby
suigned and shall be paid to-Lender foc applicatian to the sums socurcd by- the security in:trument, with the excess.
~ ii any. paid to Borrower.
G Condrmnation. ~The proceeds of any award or claim tor damages. dircct or consequential. payabk to
Bortower in connection with any condcmnation or other taking o( all or any part of the commoa ueu and taeitities
a[ the PUD~ or for any conveyance in lieu ot condemnation, arc hereby assigned and shal! bt psid to Lender. Such
' procee~s shall bc applied by L.ender to the sums secured by the security instrument in the manner pmvided under -
~ U~i(orm Covcnant 9.
~ D. Leeder's Prior Consent. Barrower shali not. except atter noticx to L.ender and. witb I,eader's prior written
consent. consent to: .
i (i) the ~bandonment or termination ot the PUD; ~
' (ii) any material amendment to the Declaration. trust instrument~ ~~ticles of ~incorporation, by-laws d the
~ Owners Assoeiatioa, or any equivalent con:tituent document of the PUD, iacluding, but not limitcd to. any
, - amendment which would change the percentage interests o[ the unit owners ire the eommon ueu and Exilities ot
~ th~ PUD; ~ -
(iii) the efTectuation of any decis~on by the Owners Association to termenate'~proEeuional~nanagement and
~ usume scli-management o[ the PUD; or ~ -
~ (iv) the transfer. releax. e~cumbrance, panition or subdivisian of ait or any part of the PUD's oommon areas
~ and~facilitics, except u to the Owners Association's right to grant eaxmenis tor utitities and similar or related purposes.
~ E Remedies. lt Borrower breacha t3orrower's coveaants ~nd agreemeds bcreunder, includin~ the cortn~n!
~ te psy wl~en due pisnned uait developmertt ~sscssmeMss Ihen Lender maY (n~oke any ce~cd~es pwvided nAder the
seeurity inslrument, including, but nol limited to, thost provided unde~ Uniform Co~enaat T.
~ IN W1Tl1ES5 WHEREOF~ Borrower hu executcd this PUD Rider.
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PUNMEO UhIT DEYELOPMENT RIDER -1 to ~ iom~~l_i/7S-FNM4/iMtYC YNifO~M INST~UMEMT ,
a~K 368 PA~E 9`71
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