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CONDOMINIUM RIDER
T?its Co~DOr.~~N1u~1 RtDER is made this ~.I. day of ..........Al].C3L1St............................, 19...~.~ :
and is incorponted into and shafl De deemed to amcnd and wpplement thc Mort6a6t. Dced of Trus1 or Secunty Deed (the
"Security 1 nst rument") of thc same d~te aivrn by the undenianed (the "Bo?rorrer") to sccure Borrower's Note to =
BANK..~F...ST.....LIICIE...COIlL~f1.'Y t~nc ••t.~~d~r•')
of the same date and coverin6 the Property described in the Security lnstrumtnt ~nd located at:
3218.. Lake.vi~,z..Cirrle,...Fiort..P.~MCe~F~,,a~'.i,da.....33Q5.Q
The Property includa a unit in, to~ether w~ith ~n undaridcd interat in the common ekmenls of, a condom~nium project
tcnown u:
................................................~~....c...`~....~
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(the "Condominium Projecl"). If t6e o~vnets avociation ot otber entily w~hich ~cts for the Condominium Proje:ct (~he
"Owncrs Auociation") holds titk to properiy for the benelit or use of its membcrs or shareholders, the Property also
includa Borrower's interes! in ihe Ovnen Associati~n and the uxs, proceeds u?d benefits of Ebrrower's interest.
CO~DONINlUM COVENAfY15. In addition lo the covrnants ~nd aarcemcnts made in the Secunty Instrument,
Borrower and Lender further rnvrnant and ajra as folbw~s:
A. Coedoe~lelrs OSIlpiio~s. 8orrow~er thall perform aU of Bonower s obligstions under the Condominium
Projtct's Constiturnt Documrnts. The "Constituent Documeats" art the: Declua~wn or any dher documrnt w~hich
crata the Condominium Project; (ii) by-laas; (iri) code of resulations; and (iv) other tquivaknt documents. Borrower shall
promptly pay, when due, all dua and asx~aments impaed pursuant to the Constituent Documents.
B. Hazard I~wra~cc. So loe` as the Owmers Association rtuintaim. ~rith a`erxrally wceptcd insuranct arrier, s
"rtuster" or "blanket" policy on the Condominium Projat w~hich is satisfactory to Lrnder and which provida insurance
corcn6e in the amounts, for the periods, and a=tinst tl~c huards La~der requires, including 6re and haz~rds included
within the tcrm "extmded coveraae: 'then: -
(i) Lender waiva the provision in Uniform Covrnant 2 for tbe monthly payment to l.ender ot one-twelflh oC _
tF~e yarly premium instellmcnts for haurd insunnct on tl~e Property; and
(ii) Borrovet s obli6ation under Uniform Covcnant S to maintain hasard insunnce covenae on thc Property
is deemed satisfied to the utrnt that the requirod covera6e u ptovided by the Owmen Association policy. -
Bwrower sMll `ive [.ender prompt notice of any lapse ~n requircd harard insunnce coveraae. _
~ In the evrnt of a distribution of haurd insunnce proa~ds in lieu of ratontion or repair followmg a loss to the
i Propehy, wrhether to the unit or to common ekineecs, any proceeds p~yabk to Horrower are hcreby assigned and shall be
! piid to Lrndcr for appliution to thc sums stcured by the Saurity Instrumrnt, w~ith any excesi paid to Borrower.
E C. Publk LiaMliry Iasuraete. Borrowrcr s1ul1 t~lce such actions u may be rasonabk ~o insurc that the Owners ~
~ Association muntains a public lubili:y imurance policy acuptable in form, amount, and extrnt of mvenge to Lender. a
i D. CoedaeuNoe. The proceeds of any award or claim for dama6a, direct ot consequrntul, payable to Borrowcr in
~ connection with any condemnaCOn or othu taking of all w any part of the Property; whether of the unit or of the common
~ elcmrnts, or for any conveyance in lieu of condemnation, are hereby auianed and shall be paid to Lender. Such proceeds
shall be applicd by Lender to the wms secur~d by the S;.curity Instrumrnt u providtd in Uniform Covrnant 9.
~ E, Leeder'a Prior CoasenL Bortmver ihall not, except after notice to I,ender and with Lcnder's pnor wn~tcn
~ consent, eithcr partition w subdiride the Property or consent to:
~ (i) the abandonmtnt or termination of the Condominium Project, except for abandonment or termination
required by law in the case of subsuntial destniction by ftrc or other essualty or in the case of a takin6 by condemnation or
eminent domam;
(ii) any amendment to any provision of the Constituent Documents if the provision is for the eapress benefi~ of
Lcnder;
~ (~ii) termination of professiotul mana6ement and usumption of sclf-manasemcnt of the Ownen Association; ,
or
~ (iv) any action which would have the effert of rendenng the public liability insunnce coverage mamtained by
the Owners Assocution unacceptable to Lendsr.
~ F. Remedia. If Borrower doa not psy eondominium dua and asseismrnts whrn due, then Lender may psp them.
~ Any ameunts disbursed by Lrnder under this panaraph F sFull become sdditional deAt of B.~rower secured by the Secunty
Instrument. linless Borrower and Lender aaree lo sther tesms of payment, thae amounts shall bear interal from the date of
~ d~sbursement at tht Note nte and slull be payabk, w~ith interat, u~wn notiu from L.ende. brrower rcquating paymrnt.
~ B~ SIG~I~G BE~ow•, Borcower accepts and a6rea to tht termi and prorisions contained in this Condominium Rider.
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~ . - ~ ~ARFIVZO WILLIANLS, Esquire
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ROGER P ~ ~ _ : _ . " ~ .
ST.I~jClt C~~°:" J TA WILLIANiS ~eo•~•
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no~K 47~ 995
MULTISTATE CONDOMINIUM RIOER-sN+~+e Fsmay-fNMA/FNIMC UNIFORM INSiP.UMENT swm 3~so ~2i~3
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