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Home My WebLink About0963 ~ ~ i SAVINGS & LOAN ASSOCIATION CONDOM INIUM RIDER ~ F~° THIS CONDOMIMIUM RIDER is made this 16th day of December, ' ~a9e, Deed of Trust or Deed to 19 8 2 ,~~s incorporated into and shall be deemed to amend and wpplement ~ Mort Secure Debt (herein "security inttrument") dsted of even date herewiti~, ~iven by tfie u~dersiQned (herein "Borrower") tosecureBorrower'sNoteto California Federal Savings and Loan Association (herein "Lender") and ooverin~ the Property described in the security instrument and locatedat 4200 North State Road A~A, Fort Pierce, FL 33450. The Property comp?ises a unit in, together with an undivided interest in the oommon elements of, a oondominium project known ss OCEAN HARBOUR SOL)TH (herein "Condominium ProjecY') twm. d ooaao~.y~wn l4oj.a) . CONDOMINIUMCOVENANTS. In addition to the oovenants and agreements made in the security instrument, 8or- rower and Lendu furthe? covenant a~d agree as follows: A. Assasmsrm. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association w other governing body of the Condominium Project (herein "Owners Association") purwant to the provisions of the dectara- ~ tion, bylaws, code of regulatioru or other constituent document of the Condominium Project. ' B. Hszard I~nnp. So long as the Owners Association maintains a"masur" or "blanket" policy on the Condominium Praject which provides insurance coverage against fire, hazards included within the term "extended coverage," and wch other hazards as Lendet may ~equire, and in wch amounu and for suth periods as Lender may require, then: (i) Le~der waives the provision in Uniform Covenant 2 fo~ the monthty payment to Lender of one•twelhh of the premium installments for hazard inwrance on the Property; ~ (ii) Borrower's oWigation unde~ Uniform Covenant 5 to maintain hazard i~surance ooverage on the Property ~ is deemed satisfied; and (iii) the provisions in Uniform Covenant 5 regarding application of hazard insura~ce proceeds shall be super- seded by any provisions of the declaration, by-laws, code of regulations o~ other oonstituent document of the Condaminium Project or of applicable law to the extent necessary to avoid a conflict between such p?ovisio~s and the provisions of Uniform Covenant 5. For any period of time during which wch hazard insurance coverage is not maintained, the immediate{y p~eceding sentence shall be deemed to have no force or effect. Borrower shall give Lender prompt notice of any lapse in such hazard insurance coverage. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair foflowing a loss to the Proper- ty, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby assigned and shall be paid to Lender for appliption to the sums secured by the security instrument, with the excess, if any, paid to Borrower. C. l~nder i Prior Consent. Borrowe~ shall not, except after ~otice to Lende~ and with Lender's prior written c~?sent, partition or subdivide the Property or consent to: (i) the abandonment or terminatio~ of the Condominium Project, except for abandonment or termination provided by law in the case of substantial destruction by fire or other psualty or in the c.ase of taking by oondemnation or ' eminent domain_ ~ (ii) any material amendment to the declarat~on, by-laws or code of regulations of the Owners Association, or equivalent constituent dceument of the Condominium Project, induding, but not limited to, any amendment which would change the percentage interests of the unit owne~s in the Condominium Project; or ~ tiiil the effectuation of any decision by the Owners Assceiation to terminate professional management and ~ assume self-management of the Condominium Project. ~ D. Rert~sdiss. If Borrower breaches Bo?rower's covensnts snd sqre~ma~ts hereunder, indudin9 the oo~rensnt to pay when due oondominium assasments, then Lenda may invoke, my ramedies provided under the security inmument, indud- in9, but not limited to, thasa provided und~? Urafwm Coransnt 7. ~ . ~ ~ ' I~J WITNESS WHEREOF, Borrower Fias executed this Condominium Rider. ~ ~ . 590169 ~ , ~Q~2 o~c 23 ~N ~a o° -~esh ° - - BORROWER SliR~SFi C. SNAH FiIEC ~lIiC Fc r~ r:: ~ ST IU~~[ Y V"~-l~ ~ ~ RCGEft I ( I;~~:.`~ f.l[ i:K CI; . l:~~- s- ~ p RROWER • "~r~r~• , f•;ALVIKA S. S}IA~-. i } BOR ROWE R R ~ ~ i r i 90RROWER ; CONDOMIMUM RIOER- 1 to~ Famd~-6/~5-FNMA/FHIMC UNIfORY INSTRUMENT g~~ ~~E s ~ -