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Home My WebLink About0922 1 . ~ . ~ G~ a~ PLANNED UNIT DEVELOPMENT RIDER THIS PLANNFD UNIT DEVELOPMENT ("PUD~~) RIDER IS madt this 4~ ' day Of JaYlu~'y . 14 82 ~ and is incorporatcd into aod shall be dcemcd to amcnd and supplement a Mortgage, Decd ot Tnut or D~ed to Sccurc Dcbt (htrein "xcurity instrumcnt") dated of even datc hercwith. given by the undersigned (hercin "Borrowe~") to sccure Borrowcr's Note to ~itiz~s FedPSal Savings a~d IAaT1 Association (herein "Lender") and covering the Property described in the secu~ity instrument and located at 1479 SE Colchester Circle, Po~'t St. Lucie, Flori,da 33452 t?.oo.nr waenw~ . The Property comprius a parcei of land improved with a dwelGng, which. together with other such arcels and certain common areas and facitities, sll as dacribed in eas T~iat Dac ation of Covenants and Restri,ctions dated Navpmbe,r 10, 1980 and reoorded osr January 19, 19$1 in O.R. Boolc 346 at Page 2967 of the Public Revorcis of St. Lucie Qau~ty, Flari3a (hercin "Dcclaration"), fotms s planned unit dcveloQment known as Villas of Village Green (henin "PUD"). a h,~.e un~c aMaow~.~u PLANNED UNI? DEVELOPMENT COVENAHTS. In addi~ion to tbe covenants and agrr,ements made in the saurity ~ ~ instrument, Borrower and Lender funher covenant and agra as folloaa: - A. PUD ObligaBo~s. Borrower shall p~rform all oE Bonoarer's obligatioas under tl~e: (i) Decluatioa; (ii) articles of incorporation. trusi inurument or any equivaknt doquntnt rtquired to establis6 tbe hotnoowners association or cquivaleni entity managing the common arcas and facilitia ot tbe PUD (herein "Oavnen Association"}; ~ and (ui) by-laws, if any, or other ruta ar regulations of the Owners Association. Borrower shall promptiy piy. when ~ due, al! assessments impoatd by the Ownets Association. ~ B. Hazard Iasnranee. In the event of a distribution of hazard insurance procads in lieu of nstoration or repair ~ following a loss to the common aoeas and facilities of the PUD, any such proct~ds payabk to Borrower are hereby ~ i assigned and shaU be paid to L.ender for applieation to the sums securcd by the se~urity insttument, with the excus. ~ ! if any, paid to Borrowcr. C. Condemnation. The proceeds. of any award or claim for damages, direct or oonsequential, payable to ~ ~ Borrower in connection with any condemnation or ather taking of all or any part of the common areas and fxilities ; of the PUD, or for any conveyance in lieu of condemnation, are her~by assignzd and shall be paid to Lender. Such . ~ roceeds shali be a l~ed b l.ender to the sums securcd b the securit p ~ I P pp ~ y y y instrument in tbe manner rovided under ~ ~ Unifarm Covenant 9. , ~ D. Lender's Prior Cor~sent. Borrower shall not, zxcept after notice to Lender and with L.ender's prior written ' ! conunt, consent to: ; (i) the abandonmcnt or termination of the PUD; i (ii) any material amendment to the Declaration, tnut instrument, articles of incorporation. by-laws of the ' Owners Association, or any equivalent constituent document of the PUD, including, but not limited to, any amendment which would change the percentage interests of the unit owners in the common areas and facilities of the PUD; (iii) the c(icctuation of any decis~on by the Owners Association to terminate professional management and ~ ; assume sclf-management of the PUD; or (iv) the transfer, release. encumbrance, partition or sut+division oE all or any part of the PUD's common areas and facilities, except as to the Owners Association's right to grant easements for utilities and similar or related purposes. E. Remedies. It Borrower breaclxs iiorrower's coven~ats and agrceme~ts bereunder, iocluding the covenant to pay when due pl~nned unit develoQmeM assessments~ then I.ender may invoke any remedies provided nadtr the security inslrumcnt, inclu~ing, but nol limited to, those prorided undrr Uniiorm Corenant 7. ' ~ ~ IN WITNESS WHEREOF, Borrower hac executed this PUD Rider. ~ ~ i 5S48'76 ~ , o 19~1 JAN 28 PM I• 56 E - / ~ FtIEC f COU~ TY FLA. , ~~ll ~ ~7Z% ~ ;~Y S T. ll1C ROGER POITRAS N2StOr D. D20CdR~JO CLEfilt CIPCUt? CGURt ~Ot ~ ti'f !i _ ~r7 ~ "y / ~~/Q Y Marie T. DeoCampa , -so..~.... PUNNED UMlT DEYELOPMEttT RIDER-~totF,rt,~~y_6~~s-FNM~t/FetMC UNIfORM INST~UMEItT ' co¦~o~~o.r=o •„s~.css IpAMf. ~MC. c~ry~ k Btt~K J( V PAGE ~1 - -