HomeMy WebLinkAbout0928 P1~ANi~1ED UNI"I' DL'VELOYM~:NT RIDER
_ T?ti~ PI.ANNk:U UNir DEVCLUPMkNI i"PUU") R~otk i~ ma~r thi~ 27th day of
May , 19 83 , an~1 is incurpurntrJ intu and ~hstl tk ~iremrd to amtnd and supplernent
s Murtgagr, lhrd ~~f Tru~t ~~r [krd tu Sccure D~bt lherein "sr~urity in~~rumrnt"~ ~atrd uf evcn date herrwith, given by
the undrnigntd (hercin "Borrowtr") to ~~c~re Borruwer's Note tu •
ALLIANCE MORTGAGE CO~IPANY
(h~rein "Lrn~irr") ancl ~uvenng thr Propc:rty described in the
security instrument and Ickated at 9429 South AlA #97, Jensen Beach, Florida 33457
(Prope.ty Aau~essl
T he Proprrry comprue~ a purc~•I of lan~l improvc~i with a ~Iwelling, which, togethrr with
otner such parcrli and certain cummun areas and facilitiea, all a~ ~1r~~ribed in
'i'ne Declaration of Protective Covenants for Island Village-II of Hutchinson Island, Florida,
~-~corded in Official Record Book 391 page 2649, Declaration of Farty Facilities for Zsland
'.'illage-II of Hutchinson Island, Florida, recorded in Official Record Book 391 page 2680.
(herein "Uc~claratiun"), forms a planneJ unit drvelopm~nt knawn
ISLAND VILLAGE PHASE II
~f1CfClI1 ~~PUD~~~. (Name of Planne0 Un~t Oeveiopment)
PLANNEU UNIT ~F.vt.LOPMtNI ~.'(ri'FtvAN~S ~~l 3t1~lUOIt l~~ ihC Cuv~Il:itll~ :flll~ ~greemenu (I]Q(~~ IIl the security
instrumrnt, Borruwrr an~ Len~irr [urthrr cuvrn~nt and abrrc (ull.?w+:
A. PUU Ubligaliun~. B~arowcr ~hall prrfurm ell of Bunuwrr'S ~~bli~~tiun~ un~icr thr: (i) Declaration; (ii)
arncle5 of iniurp~~ratiun, trust instrumrnt ur any ~y?nvalrm ~~~cunirnt rcyuir~d w ~stablish the homeowners
a»uciation or ~ywvalent :ntity n:anaging the ~umniun arra, anJ la~iliuc, ul [hc PUO (hrrrin "Ow•ner, Association");
and ( iii ) by-law•~. i( any, ur uthrr rule~ ur rcgulauum uf thc Owitirn A„~~~ iauun. 13urruwer ~hail pr~~mptly pay, when I
dur, ell a»r~smrnts im~~u~rJ by the O~~~nrn A~SUCi:~u~>n.
B. Harard insurance. In thr r~•rnt uf a ~i.inbuu~~n ~~I ha~~r~l imui.,ncc {~~~kc_•ci~ in liru uf r~stu?au~m or repair I
fulluw~n~; a lu~s tu th~ cummun :1fCA~ :lI1lI ~:ll'IIIUC] thr F'Ut), sn~ ~u~h pr~wrrJ~ pa)able tu Born~w~r :~re hereb}'
assignrd anJ ,hall bc p:uJ tu Lrnder fur applic~tiun tu thr ~um> >r:uic~ h~ tti~ ,rcunty instrument, with the excess,
if any, pai~1 tu i3ui ruwrr.
C. Condr~nnatiun. 'fhr preKerJti uf en~ ~war~i u~ rL~im fur ~:~ma~;r~. ~~rrct ur conxyuential, payable to
Borruwrr in cunn~ctiun wi[h an~ runJrmn~tiun ur uthrr ~a~,inE uf .,II eny E,arc uf thr comn?un 3IC3~ and facilities
.~f Ihr PUl), ur f~~r ~n~ ~un~•~~an.:c in liru uf ~un~irmnahun. .,rc hrr~b} ~,tiibnr~i enJ ~hall tx paid io I_~nJer. Such
pr.xrcd~ ,h~ll b~ ~ppGc.l h} L~n~rr tu th~ ~um> >c~urr~i b~ ihr xiunty imtrumrnt in the mann.r pre~vi~l~d under
Un~f~rm Cu~~rn~nt y.
U. I,endrr's Prior ('unsenl. Burru~~r shall nut. rxrc~t aftrr nutic~~ tu I.rnJrr an~7 with 1_ender's prior wriUen
~ c~~nsent, ~emsent to:
~ (i) thc ab~n~lunmrnt ur terminatiun uf thr PUD;
i (ii) an~ m.+t~rial am~ndrnrnt tu thr Drrlsr~tiun, tru~t in,trumrnt. arti~lr~ ~~f incorpuration, by-laws af the
R Ownrr~ A„~xistiun, ur any ryuivalcnt ~ona~i~urnt ~1~x:umrnt ~~f the PUl), incluJing, but no[ limited to, any
~ amendmrnt whi~h wuul.i rhan~e ~he ~xrceniagc ini~re~l5 „f ihc un~~ uH~n~r, ~n the rummun dreas and facilities of
~ thc PUD,
(i~il thc rti«tu~ti~>n ~~f any t1c~i1iun by' thr OK'(1Cf~ :7)~ttildflUll tu t~rminale prufes~i~~nnl m~n'sgement and
as~umr Self-managrment uf the PUD; ur
~ (~v) th~ transfrr, rcl~~~~, ~ncumbranr~, p~nitiun ur ~ub.ii~i~~un uf .ill ~~r ~n~ part of the PUD's common areas
~ ~~J fac~liur~, e~~rpt as t~~ ~hr Ownen Ati~~xiatiun'~ right tc~ ~;ran~ r~~rmcne~ f~~r uuliu~, anJ ~imilar or relatrii purp~ses.
~ F. Remedie~. If Borrower breache~ Borrowcr'~ cuvenants end agrcemrnl~ hrrrunder, including Ihe covenynt
~ to pa} when due planned unit developmrnt ~sse~~ments, Ihrn Lrndrr ma~ intul.e an~ remedirs pcu~ided uader tbe
~ecurit~ ins~rument, including~ but no1 limited lo, thuse provided under Unifunn C'ovenynl 7.
IN WITNt SS WHk RI.OF, Borrower has ~xecutr~i this PUU Ridtr.
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~ PLANNED UNIT OEVELOPMENT RIOER 1 to4famuy-6l75-fNMA/FMIMC UNIfORM iMSfAUMENT
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