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Home My WebLink About0957 UNITED FEDERAL C(JNDOMINIUM RIDER North Federsl Hiqhway SAVINGS & LOAN ASSOCIATtON Fort Lauderdala, Flo±ida 33308 THIS CONUOMIMIUM RIDER is made this ~ l~hth day of Jt~ l.y, 19 8 3 ~~~s incorporated into and shall be deemed to amend and supplement a Mortgage, Deed of Trust or Deed to Secure Debt (hQrein "security instrument") dated of even date herewith, given by the undersigned (herein "Borrower") tosecureBorrower'sNoteto California Fecieral Savincrs and Loan nssociation (herein "Lender") and covering the Property described in the security instrument and locatedat 1G6SG South AlA, Jensen EeacF., FL 33457. The Property comprises a unit in, together with an undivided interest in the oommon elements of, a oondominium project known as OCi:F:i'F: SO~'i;i CGi~GGt'.I:~It'!•? I (herein "Condominium ProjecY') (wmr d CondonwMwn Roiect) CONDOi~IN1UM COVENANTS. In addition to the Covenants and ag~e~'+nents made in the security instrument, Bor- rowe~ and Lender further covenant and agree as follows: A. Assessmenu. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association or other governing body af the Condominium Project (herein "Owners Association") pursuant to the provisions of the declara- tion, by-laws, code of regulations or other constituent document of the Condominium Project. B. Hazard Inwranq. So long as the Owners Association maintains a"master" or "blanket" pol~cy on the Condominium Project which provides insurance coverage against fire, hazards included within the term "extended coverage," and such other hazards as Lender may require, and in wct? amounts and for such periods as Lender may require, then: (i? Lender waives the provisiort in Uniform Covenant 2 for the monthly payment to Lender of one•twelfth ef the premium installments for hazard insurance on the Property; (ii) Borrower's obligation under Uniform Covenant 5 to maintain haZard insurance coverage on the Property is deemed satisfied; and (iii) the provisions in Uniform Co~~enant 5 regarding application of h2zard insurance proceeds shall be super- seded by any provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium Project or of applicable law to the extent necessary to avoid a confiict between such provisions and the provisions of Uniform Covena~t 5. For any period of time during whic;~ such hazard ~nsurance coverage is not maintained, the immediately preceding sentence shall be deemed to have no force or effect. Borrowe~ shall give Lender prompt notice of any lapse in such hazard insurance Coverage. In the event of a distribution of ha2ard insurance proceeds in lieu of restoration or repair folluwing a loss to the Proper- ty, whether to the unit or to common elemenu, any such proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the security instrument, with the excess, if any, paid to Borrower. ~I C. Lender's Ptior Conse~t. Borrower shall not, except after notice to ~ender and with Lender's prior written consent, ~ partition or subdivide the Property or consent to: ! (i) the abandonment or termination of the Condominium Project, except for aba:idonment or iermination ~ provided by law in the case of substantial destruction by fire or other casualty or in the case of taking by condemnation or ~ eminent domain: i ; (ii) an;~ material amendment to the declaration, by-laws or code of regulations of the Owners Association, or equivalent constituent document of the Condominium Project, including, but not limited to, any amendment which would ~ change the percentage interests of the unit owners in the Condominium Project; or ~ (iii) the effectuation of any decision by the Owners Association to terminate professional management and ~ assume self-management of the Condominium Prcject. D. Remedies. If Borrower breaches Borrower's covena~ts and agreements hereunder, induding the oovenant to pay ~ when due oondominium assessments, then Lender may invoke, any remedies provided under the sewrity instrument, indud- ~ in~, but not limited to, those p?ovided under Uniform Covenant 7. ~ IN Wi7rvESS WHEREOF, Borrower has executed this Condominium Rider. ~ ~ . " x 3 / vs~ ~ 80RROWER s J JCIi J. SP.';E`1'F~ ~ BORROWER F ~ BORROWER ~ c i t F BORROWER ` CONDOMI~UM RIDE~- 1 to 4 Fam~~y-6.75-FNMA1F?iLM(: UNIFORAA INS'fRUMENT GU'J~ ~ F.'~Fj,~ f'~ - . ~e-.r.f ci - ~?~='~=~e.~w : ~ ~