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PLANNED UNIT DEVELOPMENT RIDER
TNIS PI.ANNEO UNIT DEYEI.OPMlNT (~~PUD~~) R1DER IS It13tIt 1I11S Z~SL d~Y Of ~
December . 19 81 . and is incorporatcd into and ~hall be dcemcd to amend and supplcmcnt
a MortgaRc, Dccd c~f Trust or D~:ed to Sccure D~:bt (herein "security instrumcnt") dated of cven datc hercwith. given by
the undersigncd (herein "Borrower") t~ sccure Borrowcr's Note to C i t i zens Fede ra 1 Sav i ngs and Loan
Association
(hercin "Lender") and covering th~ Property described in the
security instrument and focated at 1502 SE Lynshi re Court
Port St. Lucie, Florida 33~+52
• ~Mvo.•ty ~war.s.)
The Property comprises a parcel of land improved with a dwelling, which, together witfi
other such parccls and certain common arcas and facilities, al) as described in
That Declaration of covenants and Rest~ictions dated November 10,1980 and
recorded on January 19,1981 in Officiat Records Book 346, Page 2967 of the
Public Records of St. Lucie County, Florida.
(hesein "Declaration"), forms a planntd unit drvt{oprrKnt known as
Villas of Village Green
(henin "PUD"). (Name of /NnnW Unit wM.woT.~ct
PLANNED UNIT DEVE40PMENT COVENANTS. Itt addltlOtt IO [hC OOVGitSDLS alld ~tOCII~tOtS tifadC !O t~lt SGCllrlty j
instrumtnt, Borrower and L,ender ~urther covenant and agree as follows: ~ j
A. PUD ObligatioAS. Borrower ahati perform ail oE Bornower's obtigations under tlye: (i) Declaration; (ii) ~
acticlcs of incorporation. tnut instrument or any equivaient doevment requ"~rod w establish tbe homeawn+en
association or cquivalent entity managing the common areu and ttcilitia of tl~e PUD (herein "Ownets Auociaiion"); ~
an~ (ui) by-laws~ if any, or other rules or regulations of the Owneis Association. Borrowec ahall promptly pay, N?htn ~
dus. all assessments impoxd by the Owners Auociation.
B. Ha~rd Insurance. In the eveat of a distribution ot haxard insurance proceeds in lieu of restoration or repa~r I
following a loss to the common areas and facilitics of the PUD, any such procads payablc to Bornower are he~uy '
assigned and shall be paid to Lender for application to the sums secured by the security instrument, wit}i tbe excess,
~i if any, paid to Borrower.
C. Condemnaiion. The proceeds of any award or c1aiM for damages, direct or consequential, payable to
! Borrower in connection with any condemnation or other taking of all or any part af the common arcas and facilities
of the PUD, or for any conveyance i~ lieu of condemnation, are hereby assigntd and sha11 be paid to Ltnder. Such
~ proceeds shafl be applied by Lender to the sums secured by thc suurity instrument in the manner provid~d undtr
~ Uniform Covenant 9.
D. Lender's Prior Conseet. Borrower shall not, except after notice to L,ender and with L,ender's prior written
; consent, consent to:
~ (i) the abandonment or termination of the PUD;
(ii) any material amcndment to the Declaration, trust instrument. articles of incorporation, by-laws of the
Owners Association, or any equivaient co~stituent document of the PUD, including. but not limited ta, any
amendment wh+ch would change the percentage interests ot the unit owners in the common areas and fxilities oE
~ t~e PUD;
(iii) the etiectuation of any dec~sion by the Owaers Association ta terminate professional management and .
assume self-management of the PUD; or
(iv) the erans[er, releax, encumbrance, partition or subdivision of all or any part of the PUD's common areas
and facilities, except as to the Owners Association's ~ight to grant easements for utilities and similar or related purposes.
E. Remedies. 1( Borrower brcaehes aorrower's coven~nts and agreeme~ets bereundtr, including tht eovtnant
to pay when due planned unil devetopmen! asscssmenls, thtn Lender rreny invoke sey remedies provided nndsr the
sccurity instrument, intluding, but nol timiled to, thost provided under Unifortn Covenant 7.
; IN WITNESS WNEREOF, Horrower has executed this PUD Rider.
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~ ~8't JI?N 28 P4~ 1= 46
i FILEG 1~NC ~~CORDi.O ~
` 5 ~tpuC,ER POItRASA
~ Law en e A. Gorrr~n -°°"°r'~`
CIERK CIRCUIT COURT
a: f.CF~ F+~ iT^_
ortense Gorman -aO"'""•'
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PIANNED UNIT DEVELOPMENI RIDER -i to t c~m~?y---6i)S-FKM+~rixt~C uNicoAM i~sr~u~fxt
~o..v~.o..~o .a~,. 12
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