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Home My WebLink About0946 ~ . ~ CONDOMINIUM~RIDER T IS CONWMINIUM RIDER is made this 5th d~ a Dec~onber : t 9 8~ and is incorporated iMo and shall be deemed to amend and supplement a Mort~afle, Oeed oi Trust ~ « oeec~ co secx,re oea ~ne~ew? -securi~? a~scn,mern• cfated a even dace ne~ewicn.~~venby tne undefsp~,ed tnere~~ ~ -Bonower') to sec~xe eorrower's Note to ~TT OF ST. LUCIE COUNTY 830-~ Timherview D~~rrive d F~ier~e. F1~33450 ~tnxnent and Iocated at ~ovenr ~ae~.~ t The Rroperty corripri~ ~ unit in, together with an undivirled ~tetest in the camr~on elements of, a conclominium project k~~ ~ PHASF Tl OF HTGH P~INT OF FT ~ PTERCE C~NDOMINTtI_M_~ SECTION IIT - - a c«+~o~++r+~r+ ~a~ e (hetein 'Condominium Prt~ject'). CONOOMINIUM COVENANTS. In addition to the covenants and agreements made in the securiy instrument, Borrower and Lender further cove~ant and agree as fdlows: A, Ast~ssnNMa. Borrower shall promptly pay, when due, all assessments imposed by the Owners Association or other goveminy body d the Condorninium Project (herein 'Owners Association') pursuant to the provisions of the declaration, by-laws, code of regulations or otl~er constituent doc~unent of the Condominium Project. B. Hazard kiwr~nc~. So Iong as the Owners Association maintains a'master' or 'blanket' policy on the Condominium Pro~ect which provides insurance ooverage against fire, hazards included with~n the tertn 'extended crnrerage,' and such dher hataRis as Lender may require, and in suCh amounts and for such periods as Lender may require, then: (i) Lender waives the provision in Unitorm Covenant 2 iot the monthy payment to Lender of onedwelfth of the premium instalments for hazard insurance on the Property; (ii) Borrowers obligation under Uniform Covenant 5 to maintain hazard insu~ance coverage on the Property is F deemed satisfied; and . , t (iii) the provisions in Uniform Covenant 5 regarding application of hazard insurarx:e proceeds shall be superseded f by any provisions oi the declaration, by-laws, code of regulations or other con8~ituent document of the CaxJominium ; ~ Project or of applicable law to the extent necessary to avad a c~nflict between such provisions and the provisions of ~ Unrform Covenant 5. For any period oi time during which such hazard insu~ance coverage is not maintained, the immediatey preceding sentence shall be deemed to have no torce or effect. Borrower shall pive Lender prompt notice of arry lapse in such hazard insurance coverage. In the event of a distribution of hazard insu~ance proceeds in lieu of restoration or repair fdlowing a-bss to the ~ Pcoperty, whether to the unit or to common elements, any such proceeds payable to Borrower are hereby assigned ~ and shall be paid ro Lender for application to the sums secured by the ~security instrument, with the excess, ii any, paid ro Borrower. . C. L~rKNr's P~tor Cons~nt. Borrower shall nat, except after notice to Lender and with Lenders prior writte~ consent, ~ partition or subdivide the Property or consent b: t (i) the abandonment a termination of the Condominium Project, except (or ebandonment or termination provided by law in the case of substantial destruction by fire or other casualty or in the csse ot a taking by condemnation or eminent domain; j (ii) any material amendment to the declaration, by-laws or code of ~eputations of the Owners Association, or ¢ , equivalent constituent document of the Condominium Project, including, but nd limited to, arry 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 ro tenninate professional management and assume ~ ~ self-management of the Condominium Project. . ~ i - ~ D. ReeNdN~s. If Borr'ow~r brracfws Borrow~r's oovu~fnb and a~rMn'Mnts Iwnunder. I~cludlnp ths Cov~rt~nt ! ~ W p~y wlwn d~N Condominlum ass~ssn~tb~ Uf~n LNid~r may Nvokt any 1w~MdNs provld~d und~r ths s~curlty tnstrum~nt, Mcluding, but not Ilmlbd to. t1aN provkNd undK W~Iform Cov~Mn 7. ~ IN WITNESS WHEREOF, Borrower has executed this Condorninium Rider. ! ~ - ~ I~83 OEC -7 AFI g 08 ~ Fll~t~ jM f.r,r;~ f;i Borrower G.[ ,,r ct f ~ ~ ~ ST.I.CLI: Cfl'~' ri : . , _ , . • • ~ ~~~~rQ ti ~'~Yvette Dalman F CLCHif C~F[U~1 r~ .:F ~ ' • ' ' ~ F~~ ' ` ~ Borrower ~ ~ ~ 6~~1 ~ ; ~ ~ ~ ~ ~ ~ ~ . ~ 90~ 418 P~ 946 . ~ - ~ CONDOIMNWM RIDER -1 to 4 Famity - 6/75 - FN11A/ ' ~ € _ . . • ~ ~ , . `