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' . PLANNED UNIT DEVELOPMENT RIDER ~
THIS PLANNED UNTT DEVELOPMENT RIDER is made this 11 T8 ~Y ~ OCTOB ER , 19 g 5 , and
is inco~porated into and shall be deemed to amend aad supplemeat the Mortg,age, Deed ai Tnut or Socuriry Iked (the "S~c~uity
Instniment") of the sacne date, given by We underaigned (the ••Bortnwe~') to secure Bomowe~s Note to ~
GDV FINANCIAL OORPORATION ~~~"d`~
of tbe aame date and covering the Property descn'bed in the Security Instrument aad located at:
320 S.W. COLI~BURY AVSNOE, PORT ST. LUCIE, FL 33453 *
l~roo.Rr ~ew
'Ibe Property includes, but is not limitod to, a parcel of ~and impc+oved with a dwelling. together with other such parcels and certain
oommoa areas and facilities, as describod in
OFFICIAL RSCORD6 BOOR 404 , PAGE 2158 ~ PUBLIC RBCORDS OF
ST. LOCIE COUNTY, FLORIDA RECORDED ON 6/30/1983
(tht "Declaration"). The Property is a part of a planned unit development Icnown as
p~W+» a wrn+.a unil wr.~oo~+~«+a
(the •'pUD"), The Prvperty also iacludts Borrower s interest in the homeowners association w equivalent entity owning or managing
the common areas and facilities of tl~e PUD (the "Owners Associstion") and the uses. benefits and proceeds of Bomower's intercst.
PUD COVENANTS. In additioa to the covenants and agnements made in the Security Instrument, Borrower and L.endtr
fiuUier oovenant and agree as folbws: ~
A. PUD Obligadoas. Bomower shaU pecform all Borrower's obligations under the PUD's Constituent Documents. The
"Constituent Documents" are the: (i) Declaration; (ii) articles of iacorporation, trust instn~ment or any e~quivalent document which
creates the Owners Association; and (iu) any by-laws or other rules or regulations of the Cwners Associatioa. Borrower shall prompdy
pay, when due, all dues and assessments imposod pursuant to the Constituent Documents.
R. Huard Insurance. So long as the Owners Association maintains. with a generally accepted insurance carrier, a"mast~r"
or "blanket" poGcy insuring the Property which is satisfactory W Lender and which provides iasurance coverage in the amoants, for the
periods, and against the hazards Lender requires, including fire and hazards included within the term "extended coverage." then:
(i) Lender waives the provision in UniForm Covenant 2 for the monthly payment to Lender of one-twelfth of the yeariy
premium installments for hazard insurance on the Property. and
(ii) Borrower's obligation under Uniform Covenant S to maintain hazard insurance coverage on the Property is deemed
satisfied w the extent that the required coverage is providod by the Owners Associadon policy.
Borrower shall give Lender prompt notice of any lapse in required hazard insurance ooverage provided by the master or blanket
policy.
In the event of a distribution of hazard insurance proceeds in Geu of restoration or repair following a loss to the Property or to
common areas and facilities of the PUD, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender. Lender
shail apply the pruceeds to the swns secured by the Security Instrument, with any excess paid to Borrower.
C. PubGe Liability Iasuranee. Borrower shall take such actions as may be reasonable to insure that the Ownen Association
maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender.
D. Condemnadon. 'I~e prneeeds of any award or claim for damages, direct or oonsequential, payable W Bomower in canneetion
with any condemnation or other taking of all or any paR of the PropeRy or the common areas and facilities of the PUD, or for any
~ conveyance in Geu of condemnation, are 6ereby assigned and shall be paid to Lender. Such proceeds shall be applied by Lender to the
sums secured by the Security Instrument as provided in Uniform Covenant 9.
` E. Lender's Prior ConsenL Borrower shall not, except after notice to L.ender and with Leader's pricx written consent, either
partition or subdivide the Property or coasent w:
(i) the abandonment or temunation of the PUD, except for abandonment or tertnination required by law in the case of
substantial destrvctiou by fire or other casualty or in the case of a taking by condemnation or eminent domain;
(ii) any amendment to any provision of the "Constitueat Docacnents" if the provision is for the express benefit of Lender,
(iii) temunation of professional management and assumption of self-management of the Owners Association; or
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(iv) any action which would have the etfect of rendering the public liability insurance coverage maintained by the Owners
Association unacceptabk W Lender.
f F. Remedies. If Borrower dces nat pay PUD dues and assessments when due, then Lender may pay them. Any amounts
~ disbursed by L,ender under this paragraph F shall become additional debt of Borrower secured by the Security Instrument Unless
~ Borrower and Lender agree to other terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate
and shall be payable, with interest, upon notice from Lender to Borrower requesting payment
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~ BY SIGNIN BELOW, Borrower accepts s to the tern?s and pravisions contained in this PUD Rider.
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EDWARD J. V TUCCI, JR. SBARON L. VERTUCCI
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~ MULTlSTATE PUD RIDER - Single Famiiy - FNMA/FHLMC UNIFORM INSTRUi~AENT Fomt 31'SO 12/83
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