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Home My WebLink About0937 , . „ . ~ - - - _ ~ , ~ . . HARBOR FEDERAL SAYING3 AND LOAN A8SOCIATION . ~ C~NDOMINIUM RIDER 231~6978 ' THI CONDOMINIIIM RIDER ia made tl~s......3~St.. . . . . . . . . . . day af. QCL4bP.1': . 19 ~od is inoorpocated into aud ~haU be deemed w ataead aad supplement a Mataa~e. Doed of Trust or Deed to Sccuc~e Debt ' (hee+ein "securi~y inWrument") dated af even data 6erewitb, 6iven by tbe undasigned (hereia "Barower") W secure Bon~ower's Not to HAR80R FEDERAL SAVINGS AND LAAN ASSOCIATiON 6ereio ••Leade~") aod oov ' tbe Property described in We ~ :ea~c~? ~new.oa ~ocarea.c....87Q0. S...S~,~t~.RQad ]A...Isl.and.Ru~~s.~t.1.234 The Plro~arly oompcbes a uNt h. together wMh an undh~ided in~ in th~ oommon el~ne~nb of. a oo~don~lum ~ pcol~ct known aa . . . . . . ISLAND AUNES. CQNAOMINIUrI A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ou.» ~ ~se~rw~.~.oo - . . . . . . . . . . (herein "Condomintum Pro~. : CONDOMWNM COVENAM'S. In additlon to the covenants~ and agreements made in the security instrumerit, Borrower and Lender further oovenant and agree as tdbws: . . A. A~saswa~b. Barow~r shaq PromP'~h? PaY, when due. ap assessments imQosed by the Owners AsaodaUon or othar 90~~3 ~Y of the Condominium Project (herein "Owners Assocfarion'7 Punuant to the provistons of the dedaration? by-iaws. code of r~gulations or other constltuent document of the Condominium Profact. • - B. lia:ard iawrance. So long as the Ownen A~ociatbn maintains a"master" or "Wanket" polky on the . W~~YY~IIYYWi~ P~ WI~7, ~ ¦~aaa~w~a ~ ,1~3 91174{1~1 WWW~ Y~c ~1 ~~ri~Y € coveraga," and such othQr hazards aa Lender may requke. and in such amounts and for such periods as I.ender ma9 re9uire. then: . _ . - (U Lender waives the provbion in UNform Covenant 2 for the monthl5? PnSmnent to Lender af one- twelkh af the pretnium h~taliments ~or ha:ard ins~iranoe on the Praperty; • Bo~rower's oWigatlon under Un~form Covenant 5 to maintain hazard insurance ooverage on the Property ia deemed sati~ed: and _ - (W) the provbions in Uniform Covenant 5 regnrding appNcatlon of hazard ~ inwranoe prooeeds shaN be superasded bS? any RrovWons of tfie declarat[on. bS?-laws, code of regulatbns or other co~tituent document of the Condomin[um Pto)ect or of applicable !aw to ihs extent n~a~r !o avold a c~l~e! between such provtaions and the provisions of UNform Covenant 5. For any period of . thne durir~g which such hazard - hu~uanoe ocverage b not maintained. the immediately Precedin9 sentence shaq be deemed to have no foroe or effect. 8orrower shall glve Lender prompt notice of any lapse in such hazard insurance coverage- ln the ~event of a distributlon af hazard inwrance proceeds in lieu of restoratlon or repatr fopowing a bss to the Prope~ty. whether to the. untt or to oommon elements, . any such grooeeds payable to Borrower are hereby a~fgned and shall be patd to [.ender for appUcatlon to the sums sectued by the security instrument, •with the - exces,s. if any. Aaid to Bo~rower. . C. La~dds Prbr Con~e~t. Bocrower shap not, except after notke to Len~er and with Lenda's prior written conaent. partEtion or subdivide the Piroperty or consent to: (i) the abandonment or terminatbn of the CondomWum Pro~ect, except for abnndonment or te:minatlon provided by law ln the case of substantial des~nutton by flre or other caauahy or in the case of a taWng by oondemnatla~ or emtnent domain; (N) any materlal amendm¢nt to the declaratbn~ by-laws or code of regulatlons of the Ownera Associatbn, or equivalent constltuent document of tfie CondomlNum Ptojed. including. but not Wnited to, any amendment whkh would change the percentnge intereats of the unit owners In the CondomWum Pwject: oi i t (m) the effectuatton af any ded~on by the Owners Associatbn to terminate pr~e~lonal management t and assume self•management of N~e CondomWum Pro)ect. ~ D. Re~. U Borr~ower bresches Borrowers c~ovenarns and a girctmeab hae~n~der, Mctuding the ; cov~ensnt to pay wl~ ~ ooadomWum aasssn~nts, d~cn L.ender may hnroke any remedies pravkl~d ; ~ender d~e a~cwih? i~trument, iochding, but not Wnked to. thos~e provided under Unifonn Cov~a~ant 7. j i IN 1N1'MESS WHEREOF, Borrower haa executed this Con ider. t Roger Anderson -ea~« ~ . - ~3~,$ ~ ~ CONDOMINIUM RIDER-~ ro 4 Fan~r-sns-FNWUFNLMC UMIFORM INSTRUMIENT ~ f~Ol~ 1 O PNI 4: ~ ~ f , ~ i1LEC jtit i~C,r~i; SI. LIK:IF CC~.x"f ~ : ,t. ` ttGGE.R f`!~I'f~:.S ' CLE RK C~FC[)I7 C: ~ ..c,~~:~ $~4i6 P~ 9~ 3/so _ ~ l_~~ # 4 --~,..s..~:< _ .