The URL can be used to link to this page

Home My WebLink About0955 HAR80R FED~RAL SAVINGS AND LOAN ASSOCIATION CONDOMINIUM RIDER 02-23141052 THIS COtiDOAi1N1UM RIDER is made th~s. . . _ . _ . . . 31St . . . . . . da~ oL . . . AUgUSt , 19 .8~., and is incorporated inlu and shall be deemed tu amend and supplement a Mungage, Deed of Trust or Deed to Secure Debt (herein "security instrumeni dated of even date herew ith, gi~ en b~• the un~rsigned 1 herein "BorroHer" 1 to secure Borrower's Not to HARBOR FEDERAL SAVINGS AND l.OAN ASSUCIATION Iherein "Lenefer") and co~enng the Property described in the s~c~~t~~ ~~s«,me~~ a~a taa«a a~ 323 -Leeward. . - Lane, - Apt .145. . .For.t. Pi er.ce, . Flor.i da . 33450. . . . . . . . . . ~P~opert~ ~wress~ The Properry compnses a unrt m, togeth~ unth an 4ndivi~ed interest in the common elements of, a condominium project known as Col onnades l.on omi ni um ivo . i . . ~Narne or eowc.~s+~mu~n ~roNCt) . . . . . . (herein "Condominium E'roject") . CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument, Borrower and Lender further covenant and agree as follows: - A. Assessments. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association or other governing body of the Condominium Project (herein "Owners Association") punuant to the provisions of the declaration, by-laws, code of regulations or other constituent document of the Condominium Proiect. B. Hazard Insurance. So long as the Owners Association maintains a"master" or "blanket" policy on the Condominium Project which provides insurance coverage against fire, hazards included within the term "extended caverage," and such other hazards as Lender may require, and in such amounts and for such periods as Lender may require, then: (i) Lender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of one- twelfth of the premium instaliments for hazard insurance on the Properry: (ii) Borrower's obligati~~n under Uniform Covenant 5 to maintain hazard insurance covera~e or~ the Property is deemed satisfied: and (iii) the provisions in Uniform Covenant 5 regarding application of hazard insurance proceeds shall be superseded by any provisions of the declaration, by-laws, code of regulations or oth¢r constituent document of ihe Condominium Project or of applicable law to the extent necessary to avoid a conflict between such provisions and the provisions of Uniform Covenant 5. For any period of time during which such hazard ! insurance coverage is not maintained. the immediately preceding sentence shall be deemed to have no force or effect. Borrower shall give Lender prompt notice of any lapse in such hazard insurance coverage. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair foilowing a loss to the Property. whether to the urit or to common elements, any such proceeds payable to Borrower are hereby k 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. C. Lender's Prior Consent. Borrower shall not, except after notice to Lender 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 abandonment or termination provided by law in the case ot substantial destruction by fire or other casuahy or in the cas¢ of a taking by condemnation or eminent domain; (ii) any material amendment to the declaration, by-laws or code of regulations of the Owners Assoc~ation, 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 Projed: or ~ (iii) the effectuation of any decision by the Owners Association to terminate professional management ~ and assume self-management of the Condominium Project. ~ D. RemedIes. 1t Borrower breaches Borrower's covenants and agreements hereunder. including the covenant to pay when due condominium assessments. then Lender may invoke any remedies provided ~ under the security instrument. including, but not limited to. those provided under Uniform Covenant 7. ~ # IN WITNESS WNEREOF. Borrower has executed this Condominium Rider. ~ y I~ ~`-n ~ 5 ~ 6'~382~ , . , _ ' ) ~ ' ;;;c('t~; . ~ ? • - t:,.;_;',- ? - • _9ono.e. a r`,-F,; ; ~ . ~ p R~r' . Spencer "L i , 1 ' - ; , . ~l , / ~ ; - 1.u. P~ __r~ t / ~ `~7`' ~ _eo,,o,~ ; Florence V. W. Spencer j" CQNOOMINIl1M RIDER-~ to 4~am;fy-6~75-FNMA/FNLMC UNIFORM INSTRUMENT ~ ~ ~ ~ ~ 3 ; ~ _,s;~r ~ 411 P~GE 954 .`Z ~ R{ ~ f ~ ~ ~ - - ~ V~ -'ti - ~ s . _t_ ~ , y _ ,~..~~as<