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Home My WebLink About0983 PLAr1NED UNIT DEVELOPMENT RIDER THIS PLANNED UNIT DEYELOPMENT R1DER is made this 20TH day of NOVEMBER , 19 84 , and is incorp~rated in:o and shall be deemed to amend and supplement the Mortgage, Deed of Trust or Securi[y Deed (the "Security Instrument") of the same date, given oy the undersigned (che "Borrow~er") to secure Borrower's Note to GDV FINAI~CIAL CORPORATION (the "l.ender") of the same date and covering the Property describEd in the Secunty Instrument and located at: 1311 S. E. CARRINGTQN COURT, PORT ST. LUCIE, FL 33452 jProperty AdWess) The Property includes, but is not limited to, a parcel of land impro~~ed with a dw•elling, together with other such parcels and certain common areas and facilities, as described in OFFICIAL RECORDS BOOR 419 , PAGE 1019 PUBLIC RECORDS OF ST. LUCIE COUNTY, FLORIDA RECORDED ON 12/20/1983 (the "Deciaration"). The Property is a part of a planned unit de~•elopment known as WALTON COURT (Nan,s a PIarY~ea uMc osre~oom~^n (the "PUD"). The Property also includes Borrow~er's interest in the homeow~ners associaUOn or equivalent entit~• owning or managing the common areas and faciliues of the PUD (the "Oµ~ners Association") and the uses, benefits and proceeds of B~rrower's interest. PUD COVENANTS. In addition to the covenants and agreements made in the Security Instrument, Sorrower and Lender further covenant and agree as follow•s: A. PUD Obligations. Borrower shali perform all Borrower's obligauons under the PUD's Constituent Documents. The "ConsUtuent Documents" are the: %i) Declaration; (ii) articles of incorpuration, trust inst:ument or any equivalent document which creates the Owners Association; and (iii) any by-la~s or other rules or :egulations of the Ow•ners Association. Borrow•er shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documenu. B. Hazard Insurane~. So long as the O~~ners Association maintains, w~ith a generall}• accepted insurance carrier, a"master" or "blanket" policy ins~ring the Property w~hich is satisfactorp to Lender and w~hich pro~ides irtsurance coverage in the amounu, for the periods, and against the hazards Lender requires, inciuding fire and hazards included within the term "extended co.erage." then: (i) Lender w•ai~es ~he pro~ision in Uniform Co~•enant 2 for the monthl}~ payment to Lender of one-taelfth of the }~early premium instaliments for hazard insurance on the Propert}~; and (ii) Borrou~er's obiigation under Unifor.m Cocenant 5 to maintain hazard insurance co~erage on the Pro}xrt}~ is deemed satisfied to the e~tent that the required co~~erage is pro~ided b~• the Owners Assa,iation polic~-. Borrower shall gi~~e Lender prompt notice of an}• lapse in required hazard insurance co~•erage pro~•ided b~~ the mas,er or blanket policy. In the evem uf a disvibution of hazard insurance proceeds in lieu of re~toration or repair folloH~ing a loss to the Propert}~ or to common areas and facilities of the PIJD, an}• pra:eeds pa~able to Borzaw•er are hereb}- assigned and shall be paid to Lender. Lender shall apply the proceeds to the sums secured by t'r.e Security Instrument, with any excess paid to Borrow•er. C. Public Liability Insurance. BorroW~er shall take such actions as ma}• be reasonable to insure that the Ou~ners Association maintains a public liabilii}- insurance polic}• acceptable in form, amount, and extent of co~~erage to Lender. D. Condemnation. The proceeds of any a« ard or claim for damages, direct or consequential, payable to Borro~•er in connection with any condemnation or other taking oC all or an}• part of the Property or the common areas and facilities of the PUD. or for an}~ con~~eyance in lieu of condemnation, a:e hereby assigned and shall be paid to Lend?r. Such proceeds shall be appiied by Lender to the sums secured b}~ the Security Instrument as pro~~ided in Uniform Co~•enant 9. E. L.ender's Prior ConsenL Borrow~er shall not, except after notice to Lender and u~ith Lender's prior written consent, eicher partition or subdi~•ide the Propert}• or consent to: (ij the abandonment or termination of the PUD, except for abandonment or termination required b}• laµ~ in the case of subs[antial destruction by fire or other casualty~ or in the case of a taking b}~ condemnation or eminent domain: (ii) any amendment to an}• pro~•ision of the "Constituent Documents" if the pro~ision is for the express benefit of Lender, ~ (iii) termination of professionai management and assumpuon of self-management of the O~~ners Association: or s • (i~•} an}~ acuon which would ha~•e the effect of rendering the pub(ic liaoitit}' insurance co~erage maintained b~• the O«~ners Association unacceptable to Lender. F. Remedies. If Borrow~er dces not pay t~UD dues and assessmenu ~•hen due, then Lender may pay them. An}• amounts ~ disbursed by Lender under this paragraph F shal! become additionai debt of Borrou~er secured by the Securit}~ Instrument. Unless Borrower and Lender agree to other terms of pa}Tnent, these amounts shall bear interest from the date of disbursement at the tiote rate ~ and shall be payab!e, with interest, upon notice from Lender to Borrow~er requesting payment. ~ ~ BY SIGNING BELOW, Borrow~er accepES and agrees to the terms and pro~•isions containe in this PtTD Rider. r ~ ~ ~ G~ - - - EROME P. MILLER ~eo~~°"e~ CLAIRE J. M LLER -~''~o~e- ~ ~ - - ~ - - - - - -Ba*o.va~ V ~INV~/~~ •Borrowe~ ~gq t~Dy 29 A~0 ~39 ' _;`,ti' ~ Fi~ _ ~ ROG:~ ST. ! . MULTISTATE PUD RIDER - S ny~e Fam~i~ • FNMA,'FHLMC UNIFORM INSTHUMENT Form 3150 12i83 449 98D . ~ ~ .z N_ _ . . `