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PLANNED UNIT DEVELOPMENT RIDER
~fli~ ~LANNED ~NiT ~tVELOPMkNT (~`PUD~~) RIDER IS made l~IIS ~Otf1 day O~
Ja~uary , 19 $3. and is incorpontcd into and shall be dcemcd to amcnd and supptemcnt
a Mortgage, Dred u[ Tnut or D~cd to S~.~cure Dcbt (he~cin "sccurity instrumcnt") dated ot cven datc hercwith. given by
the undcrsigned (hercin "Borrower") to secure Borrower's Note to GDV F i aanc i a 1 Corporat ion
(herein "Lender") and covering the Property described in the
xcurity instrument and located at 1449 S E Col ches te r C i re 1 e
Port S i.~r ~~~1 or i da 33452
" The Property comprises a psrcel of fand improved with s dweliing. which, together with
other such parcels and cectai~ common aceas and iacilities, all as dacribe~ in
That Declaration~of Covenants and Restric[ions dated November 10, 1980 and recorded
on January 19, 1981 i n Q. R. Book 346 aC Page 2967 of the Publ i c Records of St . Luc i e
County, Floirda.
(herein "Declaration")~ fornu a planned unit development known as ~
Villas of Vitlage Green
(herein "PUD'•). a uo~c o.~oa~.nq
PLANNED UN1T DEVELOPMENT COVENANTS. In additiOn t0 Ll~e oOVetli~ILS sDd f$[OCIDCDtt [f1~dC l!1 thC SCCLLTlty
instnrment. Borrower and [.ender (urther covcnant and agra as folloaa: -
A. PUD ~ Obligatiows. Borrower shall perform all ot Bormw~er's obligations uader the: (i) Declantion; ('u~ -
aRicles of incorporation. tnut instrument or aay equivaknt document t+eqt~irod to atablisb tbe bo~neowners
association o~ equivalent entity managing the common s~ceas and fuilities of the PUD (herein "Ownas Aasocistion");
~nd (ui) by-laws. if any, or other cules or ~egulations of the ON?nets Association. Borrower shall P~mPVY P~Y, ~~n
due. all assessments imposed by the Ownecs Association.
B. Ha~rd tas~usace. In the event of a distribution of hazard insurance procecds ia lieu of restoration or repa~r
following a loss to the common areas and facilities of the PUD, any such prooads payabk to Bomower are henby
assigned and shall be paid to L~nder for application to the sums securcd by the security iastrument, with the exceu.
if any, paid to Borrower.
' G Conde~nnation. The procecds of any award or claim for damages. diroct ar o~naequential. payable W I
Borrower in conncetion with any condemnation or other taking of all or any part of the common ueu and fxilities
of the PUD, or for any conveyance in tieu ot condemnation. are hereby assigned and shall be paid to Lender. Such
E proceeds shall be applied by Leader to the sums secured by the sccutity insirument ia the mann~r pmvided under
~ Uniform Covenant 9.
~ D. Lender's Prior Consent. Bomower shall not. except after.notice to Lender and with Lender's prio~ written
consent, constnt to:
~ (i) the abandonment or termination of the PUD:
(ii) any material amendment to tht Dtciaration. trust instrument. atticles of inoorporation, bylaws of the
Owners Association. or any equivalent constituent document of the PUD~ including, but not limited to. any
amcndment which would change the percentage intcrcsts o[ the unit owners in the commoa areas and facilitia of
the PUD; ~
(iii~ the eQcctuation of any decis~on by the Owners Association to terminate professional management and
assume self-management of the PUD; or -
(iv) the trans[er, releast. encumbrance, partition or subdivision-oE all or any part of the PUD's oommon aceas
and facilitics. eacept as to the Owners Associatiun's right to grant easements for utilities and similar or related pucposes.
E. Rernedies. If Borrower brcaches I3onower's corenants and agreeme~ts I~ereunder, iacloding the covenant
~ to pay when due planned unit development ~sscssments, Ihen Lender m~y in~okt any remedia prorided nnder the
security instrument, including, but not iimited to, lhose provided under Unifonn Corensnt 9. ~
- ~N WITNESS W!lERFOF~ Borrower has cxecutcd this PUD Rider.
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~?83 JAN 21 PN 2~ 5°
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S1 ltf~if CCU~' i:~, N. ~ .
itCGrR f'CI ~ f?:•:s Har ey J. '
CLEFK CIP~L'1~ C::~-2 -~O"O""'
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PLANNED UNIT OEVELOPMENT RlOER to 4 c,n,~~,-s~ts--fKMA)FMIMC IINIfO~M I11Si*UMENT
~~~~0~.~~N{O ~~futff Ip~~rf. rrC.
BOOK ~9~ PAGE gsg