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CONDOMINIUM RIDER
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'I1~~s CoNnoxixiv~ RinEa is mude this . . . . . . . . ~ ~ . . . . . . . . . . . . . day of . . . . ~C . . . . . . . . . . . . -
19. 83., and ia iacorporated into and shall be dcemed to acnend and supplement a Mortgage. Deed of Trust or Dad
to Sccun Debt (herein "security instrument") datod ot even date herewith, given by the nndersigned iherei~
"Bomower") to secure Borroarer'a Note to.Sun . Bank. .of. •St-.• • Lucie •~otitn~y • • • • • • • • • • • • • • • • • • • -
. . . . . . . . . . . . . . . . . . . . . . (6ereia "Lender") and covering the Property descn'bed i~ the security instrument and
located at.17A1. Hillmonr. IIr.,,:.Po?~t. St.. .Lucie~,. . F1or3.da • • 3345~ • • • • • • • • • • • • • • • • •
caoo•~y ~aa~ss~
The Property comprises a unit in, together with an undividod interest in the common element~ of, a condominium ,
' P~'olecc kaown as. . . Port . St t . ~uci~. ~~d~.~~~, .~a.~~s'~ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Nanw of Ca~don?iniutn Proj~ctl
. . . . . . . . . . . . . . . . (herein "Condominium Project").
CONDOMINIUM COVENANTS. In addition to the covenants and• agrcements made in the sec~rity instrument, .
Bornower and I.ender further covenant and agree as follows:
A. Assessme~. Borrower shall pmmptly pay, when due, all assessments imposed by the Owner$ Association
or other goveming body of the Condominium Project (henin "Owners Association") pursuant to the provisions of the
declaration, by-laws, code of regulations or other constituent document of the Condominium Project.
_ B. Hasard Imsca~e. So loag as the Owners Association maintains a"master" or "blanket" policy on the
Condominium Project which provides insurance coverage agaiast fire, hazards included within the term "exteaded
ooverage," and such other hazards as Lender may require, and in such amounts and for such periods as Lender may
roquire. then: 3 ~ ~
(i) Lender waives the provision in Uaiform Covenant7Q for the monthiy payment to Lender of one-twelfth
of the premium installments for hazard insurance on the Property;
(ii) Borrower's obGgation under Unifoan Covenant 5 to maintain hazard insurance coverage on the
Property is dcemed satisfied; and
(iii) the provisions in UmTorm Covenant 5 regarding application of hazard insurance prooeeds shall be
superseckd 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 eatent cecessaiy to avoid a conflict between such provisions and
the provisions of Uniform Covenant 5. For any period of time during which such hazard insurance ooverage is not
maiatained, the immediately preceding sentence shail be dcemed to have no foece or eHect. Borrower shall give
- Lender prompt notice of any lapse in such hazard insurance ooverage.
In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to -
, the Property, whether to the unit or to common elements, any such proceeds payable to Bonower are hereby assigned
' and shall be paid to I.ender for application to the sums secured by the security iastrument, with the eaass, if any,
paid to Bomower.
~ ~ C. Lead~~s Prior Coa4est. Borrower shall not, except after notice to Lender and with L.ender's prior written
I coasent, partition or subdivide the Property or consent to:
~ (i) the abandonment or termination of the Condominium Project, except for abandonment or terminacion
~ provided by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation
or eminent domain;
~ (ii) any 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 litnited to, any amendment which
, would change the percentage interests of the unit owners m the Condomm~um Project; or
(iii) the eHeetuation of any decision by the Owners Association to terminate professional management and
assume self-management of the Condominium Project.
D. Ren~edies. If Borrower bracties Borrower's rnveaa~ts aed agree~e~ls iena~der, inclodiu` tLe coreoant
to pay w6ee doe condomi~ium ~ments, tbea Leader may invoke an? ~e~s pruvided onder the acca~ity
i~strmneot, iacladiag, but aot limited to, t6ose provided dnder Uaitons Covea~at 7.
~ IN WITNESS WNEREOF, Borrowcr has ezecuted this Condominium Rider. "
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