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Home My WebLink About0953 . ~ PLANNED UNIT DEVELOpM~NT ~ RID~,,,, ~ 24TH ~ ~ `i~~ 'I~tts P[.~?rt~vEp Uxlr DBV~t.oPMEt~n' RtnPat ia made thia day ot 5~~~ _ , i 9 8¢ - snd u incorpo»ted into and ahsll be d~aned to amend and supplemeat tlu Mortgsge, Deed of'frust or Security Dood (the "Security lt~ o~~~d~~,;,~v..~.b~~detsignod (the "Hortnwer") to aecure Born?wer's Note to V71VC,'S (the "L.ender") of the aame dste and oovmng we rropcriy ~i~:;:bod in the Socurity Inatrument and locatod at: 304 9 Ii00K0I~ BLVD. 80tflT~, P(~T 5i~~^~, 33 452 The Property includes, but is not limited W, a pucel of land impruv~cf with a dw~lling, together with other such parcets and oerta'tn oommon arc~s and f~eilitiea, as deacribed in t~IIT 11 , NORSF~IAN' S HARBOUR ~ (the "Declaration"). The Property is a part of a planncd unit development kro~r: ~ ~ iv~a L::' S~R (Nams of Plsnnsd unit De+roloprt?enq ~ c (the "PUD"). The Prop...Mi; atso insludes Borrower's interest in th~ homcowners association or oquivalent entity owning or ~ maaaging the comrnon anas anc~ f~~ilities of the PUD (the "Ovmers Association") and the uses, benefits and procads of ~ Borrower'a interest. ~ PUD CoYHNArri'S. In addition to the covenants and agraments made in .the Security Instrument~ ~orrower and ~ Lender further covenant and aga as follows: A. PUD ObligaNau. Bonower shall perform all of Borrower's obligations under the PUD's Constitutnt Documents. The "Constituent Documents" are the :(i) Dttlsration; (ii) articles of incorporation. trust instrument or any ~ equivaleat document ahich creates the Uwners Association; and (iii) any by-laws or other rutes or regulations of the Owners ~ Association. Borrower shall promptly pay, when due, all dues and assessments imposed pursuant to the Constituent ' Documents. B. Hturd Insurance. So long as the Owmers Assoeiation maintains, with a generally acc~pted insurance earrier, a ; "master" or "blankeY' policy insuring the Property which is satisfactory to I.ender and which provides insurance coverage ~ in the amounts, 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 I.ender of one•twelfth of ~ the yearly premium installments for hazard insurancc on thc Properiy; and (u) Bonower's obligation under Uniform Covenant S to maintain hazard insurance coverage on the Property is ~ damed satisfiod to the extant that the required covtrage is providod by the Owners Association policy. Bonower shalt give Lend~r prompt notice of any lapse in requ'uod hszard insurance coverage provided by the master or blanket policy. ~ In the event of a distribntion of hazard insurance pror,eads in Geu of restoration or repair following a loss to the Property or to common areas and facilities of the PUD~ any prooeods payable to 8onower are hereby assigned and shall be ~ paid to L~nder. I.ender shall apply the proceeds to the sums securod by the Security Instrumcnt~ with any excess paid io Borrower. . C. Pub1lc L,ablllty Inaunece. Borcower~shaIl take such actions as may be reasonable to insure that the Own~rs Association maintains a publie liabiiity insurance poticy acceptable in form, amount. and eatent of coverage to I,ender. D. Coudemnatlon. The proaoeds nf any award or claim for damages, direct or consequential, payable to Borrower in connection with any oondemnation or other taking of all or any pari of the Property or the common areas and facilities of the PUD~ or for any conveyance in lieu of c~ndenanation, are hereby assigned and shall be paid to I.cnder. Such proceeds shall be applie~ by I,ender to the swms securai by the Socurity Instrument as provided in Uniform Covenant 9. E. I.ender's Prior CoasenL Borrower shall not, cxccpt after notice to Lender and with Lender's prior written consent, eitha partition or subdivide the Pmperty or consent to: (i) the abandonment or termination of the PUD~ except for abandonment or termination required by law in the case of substantial destruction by fire or other casualty or in the case of a taking by condemnation or eminent domain; (u) any amendment to any provision af the "Constituent Documents" if the provision is for the express benefit of Lend,~r; (ui) termination of professional managemant and assumption of self-management of the Owners Association; j or (iv) any action which would have the effoct of rendering the public liability insurance coverage maintainod by the Owners Association unacceptable W~.ender. _ ' F. Remedies. If Honowcr does not pay PUD du~ and assessments when due, then I.ender may pay them. Any ~ amouats disbursed by Lender under this paragraph F shall become additional debt of Borrower sccurod by the Security ; Instrumeat. Untess Borrower aad Lender agra to other terms of payment, thGCe aznounts shal! bear interest from the date of disbursement at the Note rate aad shatl be paysble, with interest, upcm notive from Lendar w Borrower roquesting payment. j BY SldTiINO BEWW, Borrower accepts and agas to the terms and provisions containod in this PUD Rider. ~ W' J w ^ '~~6y33 ~ w. ur~.~c ~ ~ µ~p ;09 . . . . . .............~s~ , ~ A' U~~'~1AR 10 Alt :46' ' ROGER Pts~ . ~r:I F~~~ ~1C---RECORD $T.lUC1E ; rniir~ty t f- oo~~~ . I~ 'ti..k. n ..5 E~~~J....~.~.,.......:f; aooK ~U~ PaG ~ ~ 811916 MULTISTATE PUD RIDER-~?,~ Fa~y~-~tr~uv~~.~c uN~~ n~u~r Fom, aiso izia3 R6rte 11~2 wFOtm3° ~KO w~~~o A~ ~ ~ N ~ ~ ~ . . _ _.....,1