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CONDOMINIUM RIDER ~
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. THISCONDOMINIUM R IDER ia made lhis day of M1t'~(~1 - ,
~ 19 83 , and ia incorporated into and shall be deemed to amend and supplement a Mor~ga6e, Deed of Trust or Deed ~o
Secure Debt (herein "securily i~strument") dated of eveo date he~ewith, aiven by Ihe undersi6ned (herein "Bor~ower")
~o secu~e Borrower a Note to ~
SUNRISE SAVIhGS AND LOAN ASSOCIATION OF FLORIDA
(herein "Lende~') a~d coverinsthe Properly described in thesecurity instrument
and located at
9550 South AlA, Unit 1309 ~
Jensen Beach, FL 33457 a
(P..p~.~r ~adr~~ . ~ ~
The Proper~y comprises a unit in, together with an undivided interest in the common elements of, a condominium praject ~
knownas ISLANDIA I CONDOMINIUM
(Name of Condominium Projec~)
(herei~ "Condominium Project").
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CO~DOMINIUM COVEN~~'TS. In addition to the cove~ants and agreements made in the security instrument. BorroN•er ~
and Lender further covenant and agree as [ollows:
A. Asseasments. Borrower shall promptly pay. Mhen due, all assessments imposed by the Owncrs Assoriation ur
other governing body of the Condominium Project (herein "Owners Association") pursuant to the pro~isions of ~he '
declaraiion, by-laws, code of regulations or other constituent document of the Condominium Project.
B. Hazard lnsurance. So long as the Owners Assceiation maintains a"master" or "blanket" polic~ un the
Condominium Projec~ which provides insurance coverage against fire, hazards included within the term "ex~~nded
co~erage;' and such other hazards as Lender may require, and in such amounts and for such periods as Lender may ~equire,
then:
(i) Lender Maives the provision in Uniform Covenant 2 for the monthl~ payme~t to Lender of one-tMelfth of the
premium installments for hazard insurance on the Property; .
(ii) Borrower's obligation under Uniform Covenant S to maintain hazard insurance coverage on ~he Proprrh is
deemed satisCed; and
(iii) the provisions in Uniform Covenant S regarding application of hazard i~surance proceeds shall be superseded
by any provisions of the declaration, by-laws, code ot regulations or other eonstituent document of the Condominium Proj~ct
or of applicable law to the extent necessary to avoid a contlict between such provisions and the pro~isions of Uniform
Covenant S. For any period of time during which such hazard insurance coverage is not maintained, the immediately
preceding semence shall be deemed to have no force or effect. Borrower shall give Lender prompt notice of any lapse in such
hazard insurance coverage. . -
ln the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the
Property, whether to the unit or to common elements, any such proceeds pa~able to Borrower are hereby assi~ned and shal)
be paid to Lender for application to the sums secured by the security instrument, with the eacess, if an~, paid to BorroNer.
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I G Lender's Prior ConBent. Borrouer shall not, e:cept after notice to Lender and Nith Lrnder's prior vcrilten
~i consent, par~ition or suhdivide the Property or consent to: .
' (i) the abandonment or termination of Ihe Condominium Project, except for abandonment or ~ermina~ion
pro~~ided bp IaM in the case of substantial destruction b} fire or other casualty or in the case of a taking b~ condemnation or
~ eminent domain: .
~ (ii) any material amendment to the declaration, by-laws or code of regulations ot the Onners Associalion, or
~ eyui~~alent constituem document ot the Condominium Project, including, but not limited ~o, an~ amendment Mhich would
ct~ange ~he percen~age interests of the unil owners in the Condominium Project; or
~ (~ii) ~he effectuation of any decis~on by the ONners Assoc~ation to term~nate prof~ssiuna) management and as•um~
E self•management of the Condominium Project.
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6 D. Remedies. 1[ Borrow~er breaches Borrow~r'6 covenanlg and agreemcnts hereunder. in~ludinR the
( co~~enanl to pa~ ~.~h~n due condominium assessments, then Lender ma~ im~oke am remedie• pro~ id~d under the
; securit~~ instrument, including, bul not limited to, those provid~d under l'niform Co~cnant 7.
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~ I\ R'ITIESS WHF.REOF, Borrower has.executed this Condominium Rider.
; ~ 599~14 z
~ I'83 M~R I7 2 I9 ;
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E fttC~ ~tiC ~r~,_r. f^ ~ L' ~ ~:l/`LJ - - .
Si.l.(1C!f CC~.~:'!.~l:..
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~ RCG~R r~'IT F~.~+ `
~ C~EFK c~rcui~ cc.:~~~ FRANK D. CAPUTO
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SUN TITLE & ABSTRACT COMPANY LLIAM J. E
4645 6un Club Road
~Vest Palm Beach, Florida 33406 R ~
~ % NORMAN D. ~
683•2411 q~ ;
600~~ P!G'E ~ ~
~ ItI.ACA~T~~\E I~al ~u1y.l~a lac.
~ CONDOMINIUM RiDER ~o ~ Fam~r - 6~75 - FNMA/fHIMC UNIFORM INSTRUMEMT F'i I~w~~.d•k. F4.rwla:tt11)
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