HomeMy WebLinkAbout0950 . _ ~
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~ - ~N~,14MINIIJM RI~R .
~ ~,a coNUOYU~c„~ ~ ~ m~ae d~ . . . . ~2th . . . . . . . . .aay ~ Ap~: i ~ . _
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19. 811~. aad is iooorponted inw aad ~hap be damed ~ amend and s~ppiemeat s Ma~t~e. Deed at Tnpt o~ Deed
to Saure Debt (betein "secur~Ry ~t") daced ai evea data by die (ba+eio
"Ba~row~er") w aavre eon~o~er's Note to. ~ll~T ~ ~4 ~.~~.~~d~~. . . . . . .
. . . . . . . . . .1235 utl~1,~1,
a~,es, ~nd Ori ve t~i erce. FC ~~3450 . ~ da socnrlty h~tinment aod
loc~ted st. . ~Q . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
~ ~ twoo~b warW ~ ~
Tbe P~opetty ooo~prires i unit ' to~ether ~vlth undivlded inc~ in~e ' ~aa of. a oondomiainm
p~o~ecc tnoaa . ti~9h .P4~
1~~.
. Qf FpCt, ~,~e,r;ce.C4!~domin,~,~, Se,ct,~,o,n I„ ,
. . . . . . . . . . . . . . . . (Lez+eia "Co~dominium Project"), ~Na~. a oo~ee~w~.a ~a.an '
C,orioo~tp~tux Covst~st~+rs. Iu addition w tbe cov~cnanb sad agrameats made. in tbe secutiEy in~trument,
Bomo~a~er and Lender furtber ao`reaant sad agree as foilo~a: . ~ "
w. A.~e...w.b. Borroa?er ~hau promptly par, Nbp, aue, ~lu s~sa~eats impo~oa uy t1K a.nen Auoc~ation ~
~ other governin~ body of tbe Condominium Projat (hereia "O~vnera A~ociation'~ pata~snt to tl~e psonrisio~ ot the
declaratio~. by
l~ws, oode d loesulatiotss or atber coaaNt~ent~ documwt cE the C,ondoaniaium Project.
a. H~+i I~wea~oe. So bag as tbe O~nneis Associstloa msint~ins ~"ma~" or "bladc~t" policy? cn the
Ca~rdominium Project which provida inauanoe ooMeraga ag~aiuat. 5re. haz~rdt included witbin t2~e tam "ertended .
. oov~er~pe,° aod a~ atber bazar~ as I~der maY re9uire. snd in wc6 amountt and foc uxh period: aa Lender m~y
re9~ira, tben: ~ . .
(i) I.eader waiMa t6e ptavisioa in Uniform Coveiwnt 2 for tbe mo~h1Y PsY~nt to I.ender ai ooe-t~rd[th
of the pe~minm iastalimenb for hazard inauraaa on the P~+oQaty; - -
(i~ Ho~roarec's obli~atioa tmder Uniform Co~reoant S to . maiatain bazacd in~tranoe oovera,e oa the
Property? is dee~:ati:5ed; and
` - ~ (iii) tbe pirnri:io~s ia Un~orm Coveasnt S regarding application of hwrd iawra~e proooeds ahall be ~
` super~eded b7? anY Proviaioos af tbe dcclaratao, by-laws, oode d regulation: or other c~ooatitueat doc~ment d tba .
Cond~ominiwn Project or af applicabk Lw to the wctaot neceaary to avoid a oonflict betwaea wch pm~iaio~ and
t6e provisio~s of UAiform Cov~eaaat S. ~For aay periad of tia~e during ~rhich wcb bazard insuranoe oovera~e is not
; • maintain~d, the ima~odiatcly prec~odina aenunoe ahaU be decakd to have no foroe ~ effaK. Borroarer ~hari give
~ ~ P~Pt notioe ot any lap~e in aich hszard ii~surance cov~erage.
In the event ot i distribution of hazard inauranoe proceecta in lien of raatoration or :+ep~ir follo~ring a loa to _
F ~ tl~e Property, ahether to the unit or to common eka~eats, anY ~ P~ PaYabk to Bon+o~rer u~e ~y assigoed -
aad ahall be paid to I.znder f~ application w the sums aecw+od by the security-instnnnent, wlth tLe exvas. if anY,
r paid to Borrow~er. ~ ~ .
C. I.~si~c'~ Mor Co~seat. Bornower shall nut, esoept aher notic~e to Lender aad with I~endct's prior wriuen .
~ ~on~at, Panition ot wbdivide t1~e Property or oonunt w:
= C) the abaadonment or terminatjon of the Coadominium Project, exoept for abandona~ent or terminatio~
€ P~ bY la~r in tbe csae of snbstantial destructioo by 6n or otber c~sualty or in the caae of a taking by eondemuation
` or emiaeat domain; .
E (i~ sny material aaaendma~t to tbe declarati~, by-laws or oode o~ rcgulation: of the Ownen A~oeistion, .
or oquivaieut oon:tiwent document a~ the L',ondaminium Proje~t, inclading, but not limited to, aay ame~rdinaat whicb
~ wovW chan~e tb~ percxata~e intec~ats of tbe nnit owara in the Candominium Project; or
~ ('iii) the e~ecxuation o[ any deciaia~ by tbe Owners Aaociation to terminatt proEe~ional managemeat and
~ assume ae~-mana~t af tlie Condoaninium Projoct.
~ A~e~ies. ~ Dar~w~t M~aeia Eo~+e~wsr'a co~e~b a~i ap~e~e~b ~raria, ~ fie oo~ea~t
~ te' w~~ ~e co~~ a~i¦ra~h, ~es I.e~de~ ~a7 i~~vke ~s~? ~a Mariiei aier ttie seerell~
~ i~Ae~eat, i~i~, i~t ~ot Y¦~i~te~ b, tM~e ~e~o~idea ~er U~it~e~ Co~ 7. .
w
L+ Wrrri~ss W~~oF, Bomower h~ e~cecntod tt~ Condominium Itider.
'g4 APR 26 P2'.28 ~l~ ~
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R ~~c,0~2~ED e . orr
fILEO ANL ~
ST LUCIE COUNtY. FlK
6~~1 oan H. Morri son ~
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CON601MMIUM RMER-i ~4 f,.a~~?-grn-~wt~e w¦~ rs~r , w~..d~.
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