HomeMy WebLinkAbout0937 a • A •
, ~ ~ Y
. . . . CONDOMIN~i)M RIDER
~ 'h[I3 CbNDOMlNIUM RlDB~ is tlwdC tbls 16th a.y ot' ~,uy ~ i9e~
and i~ inoo~eporsted into aad sball be deaned to smead snd wpplatircat the Mort~e. Deed otTrwt or Soc~~ity Deed (che
"Sectuity Imiruaaeat") of'tbe auae d~te siva? by tl~ uadenip~ed (the •~Hotro~vet") to tacuro Hocrower's Note to
NERIFIRBT FEOERAL SAVIt~S Aa0 LOIW ASSOCIATION (the"Lendu")
of cbe s.mo a.te.nd oovcrlns the Pn~percy aa~ccibea ia the sec~dty tatru?ment.aa locst~a tl:
10000 SOUTH All1~bS~~t~E' N BEACH, FLORIDJI 33AS7
Tl~e Pc~operty Iacluda a tu~it in. together ~th ein wadivided intere~t ia the oommon elema~u of, a oundominium project
- ~n TF~ MIRAlMR I~ A C~IDOMINIIlM
~w~+. a oo~ao~~
(the •~Co~dominiuin Project„). If tbe o~mers aasodstjau or other eatity wkich ~cta for the Condaninium Projoct (the
"Orvners As~oci~tioo") hold~ t~tk to propetty for the ba~~lit or we of its maaben or sl~archolders. the Propcrty alao
includa Horro~var's interat in the Ow~m Aaoci~tion and tha u~t, Ptooeedt and beneflt~ of Hon~ower': inter+est.
DOtvppl~tiNttt[~ ~~ovBtv~NTB. In additioa to tbe oova~ants and agreaaenu msde in the Security Instrument.
, Horc+o~ver and I.enda~ tt~rther oovenant ~nd ajree as f4llo~w:
A. ~doaii~l~ 0111~ttia~. Bomower shall petfo~m a11 of Horrower's obliaatioas under tbe Condominium
Project's Coostit~tieat Dxumenta. 't`hhe "Oon:tituent B~cua~aaa" are the: (i) Declantlon or sny other document which
crata tbe Condooaiaium 1'roject; (ii) byb~?~: (iii) oock d'rr~utatiosi: and (iv) othec equivalent documenu. Borcower shall
y. Mhen due. al! dues and asaeasmeots im~o~ed punwint to tlie Cautituatt Documents.
Hssard Lanu~oe. So long aa the Oarners Aewclation mdntsins. arith a geutnUy aoapted ir~aurana curier~ a
o~ ••b4nlcet" policy on the Condominium Project Mh~~+ is at~factory to Leader and which providea insurance
I oover~e in tbe amounts, for the pet~od:, snd a,gairut tbe 6~ard= Laider require~ including Sre and h~z~Ma i~cluded
~ ~thin the term "eatended oova~a~e," t6eu:
~ (i) L,ender waives tha proviaion in Unlform Cova~ant 2 tor the monthly payment to L,ender of ono-tweltth of
~ the yeuly prtmium installmeats for haurd insunu~a an tltie Propaty; ~nd
~ (ii) Borrower'a obligation unda Uaifona Covensat 3 w maintain hszsrd insurancx oovenge on the Property
u deen?ed atisAed W the e~t~t that the required coven~a b provided by the Owners Association policy.
~ HorroMa ~Il give L,ender prompt notjoe of any lap~o ia required hazaM insurana ooversge.
In the event of a diatributian of harard in~ueanoe pr+oooed= in lieu of ratontion or repeir following a loss to the
~ property. whether to the unit or to oanmon ekmentt. auY Pt~s P~Y~ to Horrower are hereby uaigned and shall be
paid to I.ender for application to the suma aacured by the Security Instrumeat, aith any eaceas paid to Borrower.
~ C, p~ ~p, ~ go~arer ahal! take ~uch actio~u as may be re~aonsblc to inaure that the Owners
Assocution maiatains a publk tiability insurance policy sooeptsbk in form. aaiount, and eatEt~t of ooverage to I.ender. ~
D. Co~dqsntiwi. The proceada of any aMUd or clatm for damsga, direct or oon}eq~aati~, paYable to Bonower in
o~neMion witb ~ny ca~dannstion or other talcin` oiail a sny p~rt of the Property. whether.c~f t1~e w~iR or of the common
demeata. or for any convtyanoe in lieu of condaanatioa. are he~+eby wigned and:lull be`pa(d~to L~arder:Such prooeoda
shatl be applied by I.ender to tlu aua~s secured by the Security Instru~t as prorided in Uuiform Cbva?arit'9.
g, i~der's p~ior Comea~ Borrower shaU not, exapt aRa notice to Lender aad~with L~ender's prior written
oon~ent. either putition or:ubdivWe the Property or oon:ent to: - .
(i) the abandanment or tuminstion of tbe Condominium Project, exapt tor abandonmex?t or termination
j required by law in the csae of auhstantial deatniction by 8re or otber casualty or in the caae of a taking by oondamnstian or
aninait domain; ~
(a) sny amendment to any provision of tiu Constituer~t Uocummta if the provision is for the eapre.ss beneftt of
. Le~da;
(ui) teemination of profesaional management and aasumption of aelf-management of the Owners Association;
or •
(ir) any action which would have the eQect of rrndering the pubtic liability insurance coverage maintained by
the Owners Astociation unscceptsbk to I.e~er.
t F. Resedie~. If Bomower doa not piy condominium dua snd aaussments whe» due, then Gender maY PaY them.
Any amounts disbutsed bY Lender under this ParagrxPh F ~hatl bec~a~e sdd~~anv d~t °f B°n°wer secured by the Sxurity
Iastnunrnt. Uaks~ Horroaar and Leader aaree to other tams af payma~t, thae amounts ahall beu intereat fmm the date of
di~burs~t st the Note nte and ah:U be p~yabk, with interat, upon notioe from Lender to Borrower requesting paymrnt.
BY SIONIN~ BELOw+. Horrower axepta sad agrees to the ter~ma and provisions contained in this Condominium Rider.
•....FLOREN[',E~ MaNTA61~E5E ~ ~
r
i ,
~ .
. ~rowF
~
~ . ~ ~ I
81 JAN 21 Pf2 :5 i
FII~[i : ,
• . . , Y.' " ~ •~~~~.~~~~~~~~~~~~~~~~~r~~~~~~~r~~~..~...........~s~~..r~~~~~~~.~~.~..~........~~~
ST. tUCik C~l,~;'
MUI.TI3TATE C01~lDOMINIUM RIDER-~. f«nw~-~wruun~ac ua~o~ ~a~rRUwun Fom+ auo izrss
f~,~..f~,.. ~i~~9.:?~0~-~~_,.~.;
~ ~,e~
, . _ ':"".~-~-,_4;~..- , : _ .
r-.: -
, _ , . . , s'<< .