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Home My WebLink About0986 ~ ~ . . ~ HAR80R FEDERAL SAVINGS AND LOAN ASSOCIATION CONDOMINIUM RIDER 23124124 THI CONDOMINIUM WDER is made this. . . . 2zOd . . . . . . . . . . . day oG . . . . FebrUdP,~/ , 19 .~3.. aad is incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust or Deed to Secure Debt (herein "security inswment") dated of even date tiercwith, given by the undersigned ( herein "Borcower to secure Borrower s Not to securityaswment andL located atS.b..Ld~e~i sT.d T d~~#.~YbS~s..PA. t~~~-r.~.LUC~eg ~.F1QIC~ida a 33452 . . . . . . . ~Vrop~Ay Addressl The Property comprises a unit in, together with an undivided intere.st in the oommon elements of, a condominium pro)ect known as . . . .vISTA ST.. LUCIE, .A CONDOMINIUM . . . . . . . . . . . . . . . . . . . . . . . . . . . . a cwao~w~ vrw.~n . . . . _ . . . . . (her¢in "Condominium Project"). CONDOMMIUM COVENANTS. In addition to the covenants and agreem¢nts made in the security instrument, Borrower and [.ender further covenant and agree as folbws: A. Assessmenb. Borrower shall prompdy pay, when due, all assessments imposed .by the Oumers Association or other goveming body of the Condominium Project (h¢rein "Owners Association") pursuant to the provisions of the declaration, by-laws, code of regufations or other constituent document of the Condominium Proiect. B. Hatard insurance. So long as the Owners Association maintains a"master" or "blankeP' polky on the , Condominium Pro~ect which provides inwrance ooverage agninst fire. haiards included wRhin the te:m "ext¢nded cov¢rage," and such oth¢r hazards as Lender may require, and in such amounts and for such periods as Lender may require, then: _ (i) Lender waives the provtsion in Uniform Covenant 2 for the monthty payment to C.ender of one- twelfth of the premium installments for hazard insurance on the Property: (ii) Borrower's obligation under Uniform Covenani 5 to maintain hazard insurance coverage on the Property is deemed satisfied: and . (iii) th¢ provisions in Uniform Covenant 5 regarding application of hazard insurance proce¢ds ~ shall b¢ superseded by any provisions of ~the dectaration, by-lnws, cod¢ of r¢gulations or other constituent document of the Condominium Project or of applicable law to the extent necessary to avoid a conflkt between , such provisions and th¢ provisions of Uniform Covenant 5. For .any period of time during which sucn nazara _ insurance coverage is not maintained, the immediately preceding s¢ntence shall b¢ deemed to _ hav¢ ~ no force or effect_ Borrower shall give Lender prompt notke of any lapse in such hazard insurance coverage. In the event of a disMbution of haaard insurance proce¢ds in lieu of restoratbn or Tepair fopowing a loss to ` th¢ Prop¢rty, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby assigned and shall be paid to Lender for applicafion to the sums secured by the security instrum¢nt. •with th¢ excess. if any, paid to Borrower_ C. Lender's Prior Consent. Borrower shall not, except aker notice to Lender and with Lender s prior i written consent, partition or subdivide, the Prop¢rty or consent to: - (i) the abandonment or termination of the Condominium Project, except for ~ abandonment or termination provided by law in the case of substantial d¢struction by fire or other casuahy or in the cas¢ of a taking by condemnation or eminent demain; (ii) any mat¢rial amendm¢nt to the declaration, by-laws or code of r¢gulatlons of the Owners Association, or equivalent consMuent document of th¢ Condominium Project, including, but not limited to, any ' amendment whkh would change the percentage interests of the unit owners in the Condominium Ptoject: or (iii) the effectuation of any decision by the Own¢rs Association to tetminate professional management , and assume self-management of the Condominium Project_ . - D. Remedies. If Borrower breaches Borrowers covenants and agretmen4 hereundtr, including the covenant to pay when due condominium assessments. then Lender may involce any remedies provided under the security instrument, including. but not limited to. those provided under UnNorm Covenant 7. IN WITNESS WHEREOF, Borrower has executed this Condominium Rider. ~ - x. • ~ 19'~3 f EB 22 P;t 3~ ~ Ff:=c t~< <~.~.; - S~i`7'71 - ~ s~ t u~!E L`- ` Thel ma E. Carr -eor~°~ ~ ?zc.~_ r , CiEFK'_'if ~L~l • (,t '.r~ , • ~ -sono+~? CONDOMINIUM RIDER-1 to 4 f~rtuy-6/75-FNMA/fHIMC UNIFORM INSTRUMENT aooK394 PAGE 988 3% 80 ! ~ 4