HomeMy WebLinkAbout0955 PLANNED UNI'lC DEVELOPMENT RIDER
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Ttt~ Pi~NN y UH~r DEVELOPMEt~~ ("PUD") RIDER is made this. . . . . . . . . ls~ . . . . . . . . . . . . . .day ot f
~`ebruar ~9. .8., and ia incorpontcd into and ahall bc deemed to amend and suppleme~t ~
a Mortgage. D~ed ot Trust or Dred to Sccurt Dcbt (hercin "security instrumcnt") dated of even datc herewith, given by ;
the undersgi
ned (hercin "Borrower") to sccure Borrower's Note to. ..GHASE. FF4ERAL. SAYI1~lGS .AND. LOAt~ ~
ASSOCIAITON ;
. .(herein "Lendtr") and covering the Property describcd in the t
security instrumont and locatcd at. . . ,1607A, ~.aur~i f, ~.~@, .Ft.. Pi~r;ce, .FL. . 33Q5p . . . . . . . . . . . . . i
(Propkty Addnu)
. . . . . . . . . . . . . . . . . . . . . The Property comprists a parccl of land improvcd with a dwelling. which. together with `
other such parceis and certain common arcas and facilities~ all as described in. D~eG~dr•dt~on~ of ••Gorenflttt~s; `
CR?ld? ~14n~~. ReS~~r~G~)Pl~~. d~ .rfG01"~~d .~.?1.Offi~~a.~..Record. BnAk .408, . pa~e .fi35, .of. #he, .
. Publ,i,4 ,Rgcords of . $'~..1-uci.e .G4~l~~Y~. F1.Qrida.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ~
(herein "Drclaration"), forms a planned unit dcvelo~pment known as . . . . . . . . . . . . . . . . . . . . . . . . . . . . ;
......................LONG,WOOD,V141~A~E,PIiA~~.~............................................ :
(Naern of Wann~d Unil D~wloprntnq
(herein "PUD").
PLANNED UNIT DEVELOPMENT COVENANTS. lr1 8ddltiOn t0 thC COVCnantS and 8g[etmCrltS mBdC In thC SeCUrity
instrument~ Borrowcr and L.endcr further covcnant and agrec as follows: ,
A. PUD Oblig~tions. Borrowcr shall pc~form all of Borrower's obligations under thc: (i) Declaration; (ii) .
articles of incorporation. trust instrument or any ~quivalent document nquired to establish the homtowners
association or equivalent entity managing the common arzas and facilities of the PUD (herein "Owners Association");
and (iii) by-laws, if any, or othcr rutes or rcgulations of the Owners Association. Borrower shall promptly pay, whtn
duc, all asscssments imposed by the Owncrs Association.
B. Hazard lnsurance. In the event of a distribution of hazard insurance proceeds in lieu of restoration or repair
following a loss to the common arcas and facilities of the PUD, any such procecds payable to Borrower are hereby
assigned and shail be paid to l.ender for application to the sums secured by tht ucurity instrument~ with th~ excess, .
if any, paid to Borrower.
C. Cor~demnation. The proceeds of any award or claim for damages. direct or consequential, payable to `
Borrower in connection with any condemnation or other taking of all or a~y part of the common areas and facilities
of the PUD, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid to L,ender.. Such
proceeds shall be applicd by Lender to the sums ucured by the security instrument in the manner provided undor
Unifonn Covenant 9.
D. Lender's Prior Conseat. Borrower shal{ not, except after notice to Lender and with I.ender's ~rior written '
consent, conu~t to: •
(i) the abandonment or termination of the PUD;
(ii) any material amendment to the Declaratiun, trust instrument, articles of incorporation, by-laws of the
Owners Association, or any equivalent constituent document of the PUD. including, but not limited to, any
amendment which would change the percentage interests af the unit owners in the common areas and facilities of ~
the PUD; ~
(iii) the eftectuation of any decision by the Owners As~ciation to terminate professional management and ~
assume setf-managcmeot of the PUD; or ~
(iv) thc transfer, release, encumbrancc, partition or subdivision of ali or any part of the PUD's commore areas
and facilities, except as to the Qw+ncrs Association's right to grant easements for utilities ared similar or related purposes. ~
E. Remedies. If Borrower breacites Borrower's covenants ~nd agreemenls hsreunder, jncluding the coveaant ~
to pay when due pianned unit devclopment assessments, thrn Lender may invoke aay remedies provided under tLe ~
sccurity instrument, inclpding, but no! limitrd to, those prorided under Uaiform Covens~nt 7. ~
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IN W17NESS WHEREOF, Borrower has cxecutcd this PUD Rider. ~
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~ ~8 -5 P 1 :40 ~
,
FILE~ ~ f ' ~/~J
,
ROGER F , .t ~ '-~i ~ ,
ST. LUC1E ~ ~'~•'~T " ' ~ ETER MONFILETTO ~o'~°""'
69~6
-+~onower
MARY M NFILET
1
PLAIJNED UNIT DEVELOPMEMT RIDER-~ to a F~,~,~iy-6»s-cNUU~fNt~+c u+riFORw i~stRUME+rt
M~~, l~~K455 P~ ~5~
B~OK
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