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Home My WebLink About0973 CONDOMINIUM RIDER ' ' 15~th y ~~~X Januan. THi~~ONDOMINIUM RIDE~ is madt this. . . . . . . . . . . . . . . . . . . . . . . .da ot. . . . . . . . . ~ 19.~. and is incorporated into aad shall be deemed t~ amend and supplement a Mortgagt. Decd ot Tnut or Deed to Securc Debt (hercin "suurity instrumcnt") dated of even date herewith, given by the undersigned (hercin "B~mower") to ucurc Borrowcr's Note to, .I"1A~iY~N .i~: . .QQRI~. .aod .SH~~I•A .N.i.. .DOBIE.,. . . . . . . . . . . is wife, ~~n~n "Lender") aod covcring the Property described in the security instrument and located at. . . .5z0~.. No.XCh. .A-1-A.,. .A-.~44... . ~t . . k.ierce.. .FL. . . . . .3~.45U . . . . . . . . . . IPropKtr Aaoressl 'Il~e Property comprises a unit in, together with an undivided intcrest in thc common elements of, a condominium proje~t known as. . . . . . . . BRYN MAWR OCEAN TOWERS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (NUn~ W ConCom~n~um ProNcp . . . . . . . . . . . . . . . . (herein "Condominium ProjecC'). CONDOMINtUM COVENANTS. Ifl aefdition to the covcnants and agrecments made in the security instrument, Borrower and L.endcr turther covenant and agrec as follows: A. Asses.sments. Borrowe~ shall pr~mptly pay, when due, all assessmcnts imposed by the OwnerS Association or other governing body ot the Condominium Project (hcrein "Owncrs Association") pursuant to the provisions ot the declaration, by-laws, cod~ of regulations or othcr cunstituent document of the Condominium Projeet. B. Hanrd insnr~ace. So long as the Owners Association maintains a"master" or "blanlcet" policy on the Condomieium Project which provides insurance coverage against fire, hazards included within tht term "extended coverage," and such other hazards as Lcnder may require, and in such amounts and for sueh periods as Lender may rcquire, then: (i) l.ender waives the provision in Unitorm Covenant 2 for thc monthly payment to I.ender of one-twelfth of the premium instalfinents (or hazard insurance on the Property: (ii) Borrower's obligation under Uniform Covenant S to maintain hazard insunnce coverage on the Propeny is damed satisfied; and (iii) the provisions in Uniform Covenant 5 rcgarding application of hazard insurance prooeeds thall be supersedcd by any provisions of the dectaration, by-laws, code of regulations or other constitutnt doeument oE the ; Condominium Projcct or of applicablc lavir to the extent necessary to avoid a conflict between such provisions and i j the provisions of Uniform Covenant S. Fur any pcriod ot time during which such hazard insurance coverage is not I ~ maintained, the immcdiately preceding sentence shall be deemed to have no force or efiect. Borrower shall givc l.ender prompt notice of any lapse in such hazard insurance coveragt. ~ In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a loss to ~ thc Propcny, whether to the unit or to common clements, any such proceeds payable to Borrower are hereby auigned E and shall be paid to L.ender for application to the sums xcured by the security instrument. with the exceu. iE any~ paid to Borrower. C. Leader's Prior Coaseot. Borrower thall not, except after notice to Lender and with L.ender's prior written consent, Qartition or subdivide the Froperty or consent to: (i) the abandonment or termination of the Condominium Project, except for abandonment or termination provided by law in the case of substantial destruction by fire or other casualty or in the case of a laking by condemnation ; or eminent domain; (ii1 any material amendment tQ the declaration, by-laws or code of regulations of the Owners Assoeiation, ~ or equivatent constituent documcnt of the Condominium Project, including, but not limited to, any amendment which ~ would change the percentagc intcrests of the unit awners in thc Condominium Project; or ~ (iii) che eHectuation of any decision by the Owners Association to terminate professional management and ~ assume se{f-management of the Cundominium Project. D. Rernedies. Ii Borrower brcacbcs Bor~ower's covensots and agreemeats berennder, iscl~dinf tbe co~esse! ~ fo psy w~6cn d~e condominium assessments, Ihea Len~er miy invoke any remedies providtd aader tbt utarity insirnment, inclndisg, but oot limited to, tbose provided uader Uaitorm Cove~ant 7. ~ ~ ~ ~ JN WITNESS WHEREOF, Borrowcr has ezccuted this Condominium Rider. ~ . x ' ~ ~ ~85 JAN 24 ~1 :4~ ~ ~ ~ FII.EC % ' ` ARVIN L . DOBIE ~ - r+, ~ ROGER r + ~ ~ - ~ ST. tUC~E C . ~ ' ~ - ~ ~ ~ b~~~~ SHE LA M. DOBIE ~ COMDOMINfUM RIDER- i ~Q ~ FNndr-61IS-NIW!FNIMC UMIiOtY IIlSTRfi1~i1T ~ ~ ' ~ G ~ l~~°°'~4 _ . .~.,,d ' .x ~ ~ ..,~4 C'. ~ +'~=R. ~'ii~a.