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PLANNF~ UNIT ~DEVELQPNiENT RIDER ~
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THiS PLANNEO UNIT DEVELOPME T(`~PUD~~) RIOER IS made this ~th day OI ;
December , 19 ~1 . and is incorponted into and shall be dcemed to amend and suppirment ~
a Mortgage, Deed of Tnut or D~:ed to Sccurc Dcbt (hercin "security instrumcnt") dated o[ evert date herewith givcn by ~
the undersigncd (hercin "Borrower") to sccurc Borrower's Note to C i t i zens Federal Sav i ngs an~
Loan Association ~ ~ ~
(herein "I.~nder"j and covering the Property described in tbc
security instsument and locatcd at ~ 14Q7 S. E. Col chester Ci rcle
• - Port St. Lucie, Flori-da 33452
t~r ~aar~..~ ~
The Pmperty comprises a paroel of land improved with a dwellin~. which. togeth~r with
other such parccls and artain common arcas and facilides. sll as described in
That Declaration of Co~enants and Restrictions dated November 10, 19$0 and recorded
on January 19, 1981 in O.R. Book 346 at Page 2967 of the Public Records of St. Lucie
County, Florida
i
(herein "Declaration"), fornu a planned unit development known as ~
F
~ V{LLAS Of YiLLAGE GREEN
{herein "PUD"). a Ma++~+.a uR~c o«wiow~+«~q
PLANNED UNlT DBYELOPME[~ET COYENANTS. In idditiOn t0 the COVCtlBptt and agtCCIDCDtt iflfdt in t~1C fOCtifit3l
instrument, Borrower and Lender further covenant and agree ss tol{oars: ~
A. PUD Obligstiows. Boreower ahali pe~tocm all d Bocro~ver's obliguios~s ~tadar the: {i) Doclarstion; (u)
uticlc3 of incocporation, truat instrument or sny equi~kat document required w establish the bomoownen '
sssociatiQn or equivalent entity managing the common arcas~and fuititia ai tbe PUD (i~rein "O~vr?trs.Atsaciaticsa"};
~ and ( ui ) by-laws. if any. or other cules or r+~gulations of the Ownets As~ociation. Borro~rer shatl promptlY paY, wben
~ due, all assrssments imposed by the Ownera Auociation.
~ B. Huard Ia~sar~'ee. In the event of a distribution of hazard insurance procecds in lieu of restoration or repair
following a ioss to the rnmmon areas and facititics of the PUD, any auch proca:ds payabk w Borrower ac+c heceby
assigned aad shall be paid so Lender for application to the sum: seturcd by the security instrument, with the exce.u.
if any, paid to Borrower. ~
C. Condemnatioa. The proceeds of any award or claim for damages, direct or cosssequential, payabk to ,
Borrower in connection with any~condemnation or other taking of all or any part of the commoa areu and facilities
of the PUD, or for any conveyance in lieu of condemnation, are hercby assigned and shall be paid to Lender. Such
proceeds shalt be applied by Lender to the sums ucured by the security instrument in the ~anner provided under
Uniform Covenant 9.
D. Leeder's Prior Coose~t. Borrower shail not, except after notice to Leeder and witb Lender's prior written
~ consent, consent to: - '
F (i) the abandonment oi termination ot the PUD;
~ (ii) any material amertdment to the Declaration, trust +nsttument, articies of incarp~ration, by-laws of the
~ Owners Association, or any equivalent constituent document of the PUD, iacluding. but nat limited to. any :
j amendment which would change the ptrcentage interests of the unit owners in the commoa areas and facititita of #
the PUD; ~
(iii) tfx eftectuation of any dcc~sio~ by the Owners Association to terminate professional management. and 3
assume self-management of the PUD; or
i (iv) the transfer, release, encumbrance, partition or subdivision of all or any pa~t of the PUD's oommon areas
i and facilities. except as to the Owncrs Association's right to grant easemcnts tor utilities and similar or related purpoxs.
! B. Resnedics. if Bo~sowe~ breaches Borrov+~er's covensints and pgreen+e~ts 1~ercunder, ioclnding tbe covensmf
i to pay ~rhee due planned aajt ~erelopment ~ssessmtnts. tl~en Lende~ msy i~vo~Ct any te~edies providtd under tbe
~ secnrity iastrtiment, inclnding, but aat limitcd to, those p~ovided nnde: Uaifon~+ Cove~saat 7.
IN WITNESS WHEREOf,, Borrov•er has executed ihis PUD Rider. . -
55131~. ~ ~
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" rKc [ swt *r LL'P.L~ L ,
S;.LLtt~ COl11lTYi1a ' j/
RGG' P i'41Sr'tAST
' ~~~~~c. C;nGutt c~u~: ,f hn 1f . Ri ttersdorf
f ,1- ;t ~r . - - ~
Florence M. Ri ttersdorf ~°O^°"""
PIANNEO UNiT OEVEIOPMENT RIOER-t to ~ ~~~~r-6/75-FNMA/FMtMC ~MIFORM INStRUME~~~,K`~4 pAGE 9~~
C~AfOUp?~[D •~~.rtff •p~~f, ~MC. j1X7
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