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Home My WebLink About0929 PLA~INED UNIT DEVELOPI~IENT RIDER Ti~~~ Pt :~~~t n l'~11 DE~ ELOP~~~`r Ri~~ k u n::?~ir ih~. _......~8.~h ~ia~ ui ........Iul~r I~> 83 ;?nd in.~,r~~ratr~f ~m~~ and .hall br Jt~med tu amcnJ anJ ~u~~ltmcnt ~\1~,r~gag~. D~~cd ul Tru~t i~r L~cY1 ~u Sr.•urr D~ht Ihtrein "Sctiuri[~ In~trumrnt" Jatcd ~~f r~rn datr herr~~ith~.~ gi~rn b~ th~ un~rr~i n~d Ihrrc~n "l3urrowrr") t~~ .~curr CITI~ENS FEDERAL SAVINGS AND LOAN ASSOCIA~ON f3urni~~rr's Nut~ to (herrin "L~ndrr") and ~u~•rring the Prurrrt~' desrnbed in ihr ScYUnty In,trumrn~ an~f I~kat~d;?t ...1562 SE Crayrich Court, Port St, Lucie, Florida 33452 . (Properi~ Addressl The Pro~erty~ is dc~cnbed in the Srcunty instrum~nt, and includrs, but is i~ot lim~ted w, a rarcei of I~nd impmveJ ~~ith a dweiling. ~~~hich, together ~~•ith other su.h parccls and certain common areas and fa~ifiti~~, all as ~Ic~srnhrd ~n Declaration of Covenants and Restrictions recorded in Official Records Book 346, ..._.Page...2967.:..Public..Records of...St.,...Lucie County, Florida. (herein "D~tilaration"), forms a planned unit de~•elopment knuwn as VILLAS OF VILLAGE GREEN . (Ndme of Planned Umt Developrr.e~t) (herein "PUD"). The Yroprrty shall also br romprued o( E3orrower's interest in thr humc,~~wners a,s~xiatiun ur ryw~alrnt entit~~ ow•ning or managing the comman areas and farilities of the PUD (herein "Owners Association") and the ux~c, benetit~ and pra:eeds of, or incident to, such interest. Pt.~vxED U11T DE~'E~oP~tErT Co~'E~~!~'7~. In addition ro the covenants and agreements made in thr Securit~~ Instrument, Borrow•er and Lender fucther covenant and agree as follows: A: PUD Obtigations. Borrow•er shal{ ~rform all of Borrower's ohligations under the: (i) Declaration; (ii) articles of incor~ration, trust instrument or any eyuivalent da:ument required to establish the Ow~ners Association; and (iii) bS~-la~~•s, if an}~, or other rules or regulations of the O~vners Association. Borrower shall promptl}~ pa}'. when due, all assc~sments imposed b~~ the Owners Association. B. Hazard Insurance. So long as the Owners Association maintains a"master" or "blanket" policy, which is satisfactory in form to Lender, w~~th a generally accepted insurance carrier on the PUD and ~~•hich provides insurance coverage ?n such amounts, for such periods, and against such hazards as Lender may require, including fire and hazards included w~ithin the term "extended coverage", then: (i) Lender waives the provision in Uniform Covenant 2 for the monthly pa}~ment ro Lender of one-twrlfth of , the premium installments for hazard insurance on the Property; and (ii) Borro~vei s obligation under Uniform Co~~enant 5 to maintain hazard insurance co~erage on the Propert~• is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. Borrower shall gi~~e Lender prompt notice of any lapse in such required hazard insurance coverage. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to the Propert}• ur to common areas and facilities of the PUD, any such proc;eeds payable to Borro~~•er are hereb}• assigned and shall be paid to Lender for application to the sums secured by the Secunty Instrument, with the excess, if any, paid to Borrow~er. C. Public Liability Insurance. Borrow•er shall take such actions as may be reasonable to insure that the O~cners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. I~ D. Condemnatioa. The proceeds of any award or claim for damages, direct or consequential, payable to Borro~~~er in ~ connection a~ith any condemnation or other taking of all or any part of the Property or the common areas and facilities of the ~ PUD, or for an}• comeyance in lieu of condemnation, are hereby~ assigned and shall be paid to Lender. Such pra-eeds shall ~ be applied by Lender to the sums secured by the Security Instrument in the manner pro~ided under CJniform Co~ enant 9. o E. Len~er's Prior Consent. Borrow+er shall not, except after notice to Lender and ~~~ith Lender's prior ~~~ritten f consent, either partition or subdi~ ide the Property or consent to: (i) the abandonment or termination of the PUD, escept for abandonment or termination required b}~ la~~ ~n the ¢ case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent doma~n; ~ (ii) any amendment to an~~ pro~~ision of the declaration, articles of inrorporation, trust instrument. by-la~.s of ~ the Ow~ners Association, or eyuivalent constituent documents of the PUD (herein "Constituent Documents") ~chirh is fur ~ the express benefit of Lender; (iii) termination of professiona{ management and assumption of self-management of the PUD Uwners ~ Associatton; or (iv) any action which w~ould ha~~e the efTect of rendering the pub(ic liability insurance co~erage mainta~ned by the Ow~ners Association unacceptable to Lender. F. Notiee to Lender. In addition ro notices required to be gi~~en Lender by the terms of the Security Instrument, Borrower shall promptly gi~~e notice to Lender of an}• material amendmeit to any provision of the Constituent Da:uments and also of an}~ amendment to a material provision thereof. Examplc~s of material provisions include, but are n~t limited to, ~ those w~hich pro~~ide for, govern er re¢ulate: ~~oting rights of the unit owners in the PUD; assessments, assessment liens or ~ subordipation of such liens; the boundaries of any~ unit or the exclusive ea~ment rights appertaining thereto: or retienes f~~r ~ ma~ntenance, repair and replacement of the common areas and facilities of the PUD. ~ G. Remedies. If Borrower breaches Borrower's covenants and ap,reements hereunder, includin~ the covenant to pa~• when due PUD assessments. then Lender may invoke any remedies provided uoder the Security~ Instrument, includinR, but not limited to, those provided under L)niform Covenant 7. I~ ~~l f~FSS WHEREOF. Borrower has exrruted thi~ Pl'D Ri~ier. 6~4643 i~~C~-u,~,.ti ; . . : . . . _ _ ~ ~ ~ ~ 22 AM 5 ! WILLIAM ROHAI3 . ~ , _ t . ` ~ ,rf.',4t ~t-~^ . , ` : . ~ : '(.4~' ^r ` y y~~~~ _ . ~ ~ LI~G~C....ICQ[1t11~.. , ' -1~. , ~~~rOwp~ . - auoK ~ PaGE 929 a Df 11AlIJCfI ~~uiT nc~rc~no~ACNT pincp_. . . . . ~,,,,.:,;T ~ ' - ~ar-s-~ J-L~__ ' . - ~ . ~ ~ y~~ m~ ~~:-~.y~.-~'mµ ar.(~r ~