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CONDOMINIUM RIDER .
~I~i1S CONDOM1NlUM RIDER 1S ~C tIUS . . . . . . . . . . . . . . . . 2 S~t~l. . . . .d8~i Of . . . . .~J~t'lIId~y. . . . . . . . . . .
19.84., aad is it~corporatod into and shall be doemed to amend and supplement a Mortgage, Deed of Trust or Deed
to Secure Debt (herein "security instrument") dated of even date herewith, given by the undersigaed (herein
"Borrow~r") to secure Borrower's Not~ to. . . SW(~. ~al'ik . Q~ . S~. . ~u~~L4'. COUII~Y. . . . . . . . . . . _ . . . . .
. . . . . . . . . . . . . . (herein "Leader") and covering the Pmperty descn'bed in the security inswment and
~«~t~ at. :~ao~_: ~}~~,mQox. px~~~...~Qx~. s~.. .~u~~~.. .~~.Q~~a~. . .~~~sa.. . .
'ILe Property comprises a unit in, together with an undivided interest~ ia ihe common elements of, a oondominium
project known as. . . . . . . . . . . PORT ;ST. , LUCIE ,I~:DIGAL, P~,AZA . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(Namte of Ca~daninium Proj~et)
. . . . . . . . . . . . . . . . (herein "Condominium Project"). ~
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the security instrument,
Borrower and I.ender further covenant and agree as follows: ;
A. As~smests. Borrower shall promP~Y PaY. when due, all assessments imposed by the Owncrs Association i
or other governing body of the Condominium Project (herein "Owners Association") pursuant to the pc+ovisio~s of the ~
declaration, by-laws, code of regulations or other constituent document of the Condaninium Project. ~
B. Hasard Iasurance. So loag as the Owners Association maintanns a"master" or "blazilcet" policy on tha
Condominium Project which provides insurance coverage against fir~, hazards included within the term "exteaded f
coverage," and such other hazards as L.ender may require, and in such amounts and for such periods as Lender may
require,.then: 3
(i) Lender waives the provision in Uniform CovenantY for the monthly payment to Lender of oae-twelfth
of the premium installmeats for hazard insurance on the Property;
(ii) Borrower's obligation under Uaifocm Coveaant 5 to maintain hazard insurance coverage on the
Property is deemed satisfied; and
(ui) the provisions in Un~orm Covenant 5 regarding application of hazard insurance prooeeds shall be
superseded by any provisions of the declaration, by-laws, code of regulations or other oonstituent document of the
Condominium Project or of applicable law to the extent necessary to avoid a conflict between such provisions aad
the provisions of Uniform Covenanc 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 etfect. Borrower shall give
! Lender prompt notice of any lapse in such hazard insurance coverage:
' In the event of a distribution of hazard insurance proceeds ia lieu of restoration or repair following a loss to ~
' the Property, whether io the unit or to rnmmon elements, any such proceeds payable to Borrower are hereby assigned
i and shall be paid to I.ender for application to the sums secured by the security instrument, with the excess, if any,
~ paid to Borrovyer. ~
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C. Lende~s Prior Codseot. Borrower shall not, except after notice to L.ender and with Lender's prior written
e consent, partitioa or subdivide the Property or consent to: _
~ (i) the abandonment or termination of the Condominium Project, eacept for abandonment or termination
provided by law in the c~se of substantial destruction by 6re 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 constiwent 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 Pmject; or
(iii) ihe effectuation of any decision by the Owners Association to terminate professional management and
assume self-management of the Condominium Project.
D. Rewedies. U Borrower brcac~e.s Borrower's rnvenauts and ~meata bersoader, incladiuS t6e coveoant
to pay w6ea dae condomiaiom assessmeots, t6ea i.ender may involce say remedies provided aeder tbe secarity
~ iastrnmtet, including, but not limited to, tbose provided nnder Unifora~ Core~aat 7. ~
~ IN WITNESS WHEREOF, Borrower has eaecuted this Condominium Rider.
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~ 1?8~ JAN 2S P~ 3 3;
Fu~~ ~yr r~P,xx I ITZ ~ -s«~.
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CONDOMINIUM RIDER-1 to 4 Fxnilr-6/15-i~au~~uK u~ ~MStau~t buTMLAND M~~~Na
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