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Home My WebLink About0943 ' FLAN~IED UNIT DEVE;L,OPMENT RIDER ~ . l ~ THIS PLANNED UMl' DEVELOPMENT RIDER it aude t6i~ Z8~ day d FBBROARY ~ 19 85 . aad u;ncapacaced ioco aad al~all be deemed a nmerd and supplemenc che Mon~,aga. Deed d Tn?ac or Securicy De~d (the "Soc~uity Indrumeat") of the sac~ date, iivcn bY t!x ~mderaip~ed (tue `•Bomow,er„) W aecure Barower'a Note to ~ GDV IrINAIdCIAL OORPOR~TION (the ,•Lendef') of the same date and oo~erinj tbe Property dacdbed in tbe Socurity Inttrument and located a~ 2293 S. BI~RRINGTON STRBBT, PORT ST. LOCIS. FL 33 452 l~eo.~a 'ILe PcnQe~ty includes, but is not limited to, a paral of land improvad with a dwelling. together with otLer such parcels end certain caa~anon anas and ficilities. as described ia OFFICI!?L RBOORDS BOO1C ~19 , PAGS 1019 PUBLIC RB(70RDS OF ST. LOCIB CODNTY, FLORIDA RBCORDBD ON 12/20/1~83 (the ••Declaratioa"). The Prope~ty is • part ef a planaed uait develop~ent known as w~.TOr~ cooKr wm. a ww+.c un~ ow«oo~w~a (tbe •`PUD"). The ProQerty also includes Borrower's intereat in the homeownars associatioa or equivalent entity owning ar managing the common areas aod fasilid~s of the PUD (the "Qwners Associatioa") and the uscs, benefits and procxeds of Borrower s interrst PUD COVBNAIV'TS. In addition to tbe covenants and sgreeo~snts made in the Security Insuumeat, Borrower and Leoder further oovenant and agree as folbvvs: A. PUD Obli~aibns. Bamwer shall perform all Bomower a obligacioQS uader the PUD's Constituent Documents. 'Ibe "Constitueat Docuinents`' are the: (i) Doclaratioa; (u) articles of incorporatio~, wat instrument or aay equivalent document which ~ creates the Owners Associstion; and (ui) any by-lawa or other niles or regulatious of the CwneTS Associatioee. Borrower shaU P~PUY WY. arbea due, all duea aad assessmtnu imposod pursuant to t6e Constituent Documents. ; B. Huard Insunaca So laag as the Owners Associatioa maintains, with a geaerally accxptod insurance carrier, a"maste~' i or "blanket" palicy insuring the PropeRY which is satisfactory W I.onder ard wlrich provi~s iacurance coverage in tl~e anwunts, for the i periods, and against the hazards L,~nder requires, i~luding fire and hazards included within the tern~ "extended coverage." then: (i) Lender waives thc pro~1sioa in Uaiform Covenant 2 for the monthly payment to Lender of one-twelfth of the yearly premium installtnents for hazatd insurance on tl~e Property; and (u) Borrower's obligation u~er Uniform Covenant S to maintain hazard insursnce ooverage oa the Property is deemed satisfied w the e~ctent that We required coverage is provided by the Owners Associasion policy. Bon+ower shaU give L.ender prompt notice of any lapse ia rtquired hsaard insurance coverage pmvided by the master ~x blanket ~ Po~Y• Ia the eveat of a distnbutioa of hazard ins.urance proceeds in lieu of restaration or repair following a loss to the Property a to comtnon areas and facilities of t6e PUD. anY P~~ PeYabk to Ba~r~wer are hereby assigned and shall be paid to Leoder. Lender shsll apply the pcoceeds W the sums securai by the Security Instrument, with any excess paid to Borrower. G Pubiic liability Insw~anc~ Borrower shall take such actioos as may be reasooable to insure that the Owners Associatioa ; s maintains a public Gabitity insurana policy acceptabk in form, amaunt, and extent of oovera~e to I.ender. t D. Coa~emnation. The proceeda of any award or daim for dams~es, direct or vonseqxntial, ~aYabk to Bomower in oonnection j with any oondemnation or other taking of all or sny part of the Property or the c~ommon sreas and facitities of the PLJ~, or for any ~ c~veyance in lieu of condemnatio~, are hereby assigned and shall be paid to L,ender. Such proceeds shall be applied by L.ender to the i sums secur~ed by the Security Instrument as provided in Uniform Covenant 9. E. L.enda's Ptior Consen4 Borrower shall not, except sRer notice to Lender and with Lender's prior written conssnt,.either partitioa or subdivicie tLe Property or consent to: (i) the abandonment or termination af the PUD, ezcxpt fa abandonment or termination roquired by law in the case of substantial destructi~ by fue or other casualty or in the case of a taking by oondemaation or eminent domain; F (ii) any amendment to any provision of the "Cautituent Documenta" if the provision is for the expctiss bene6t ot' Lendtr, ~ (iiij temiination profesuons! management and assumptioa of self-management of the Owners Association; or ~ ~ (iv) any adion which would have the e6ed of nnderiug the public lia~ility insurance coverage maintained by the Owners Association tmaoceptsbk W I.ender. F. R~ies. If Borrowor does not pay PUD dues aad asses~nents when due, then Lender may pay them. Any amounts ~ disbursed by Lender uader this paragtaph F shall beoome additional debt of Borrower securcd by the Security Instrument Unless ~ Bamwer and Lender agree to other terms of payment, these amounts shali bear interest from the date of disburstment at the Note rate ~ and shail be payable, with interest, ~poa notice trom Leoder to Borrower requestin8 PaYmen~ BY SIGMNG BELOW, Borrower acce~s and agrees to the urms and provisans contai~d in this PUD Rider- ~ ? ~ MICH L W. E RYSH DOUG C. FSDORY H ~0"'0iM°` ~ - ~ MARY S S 1tYSITYN ~0f°""` ~°"OiM" ~ 'g~ MAR 21 P 1 :39 ~ ~ ~ ' FILE~ . ~ ROGER ~ t~ ; - ; St. LUC=E . ' ~ ~ € ~ 69~15 ~ € IIRULTI8TATE PUD RIDER - Sin~s Family - FNMIVFHLMC UMIFORM INSTRUMEt~ Fo.m stso ~yes ~ ~ • ~ , ` ) ~ B~( ~ P~6f ~ ~ ~ 3 ~5`~ ~j~~., A.• ^~i.x: . ~ . g _ -.~-~~.~~~r ~ ~ 1NS (