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HomeMy WebLinkAbout0999 ~ ' ' ' ' PLANNED UNIT DEVELOPMENT . RIDER THIS PLIINNED UNR D~VEI.OPMENT ILtDER iS RIi~Q th1S d~y Of ~ 19 ~ and is inaorporatod into and shall tie damod to amead and supplemrnt the Mortgsge. Deod of Truat or Socurity Dood (the . "Security Instrument") of the same date~ given by the undersignod (tbe "Hotrower") to aecuro Borrower's Note to Fixst Citizeae Federal Savia,gs b Loan Aseoaiatian ~ (the "I.ender") of the same date and cavering th~ Property dacribod in the Security Insttument snd locatod at: 1321 "A" Peppertree Tr~il Fort P~eres, Florida 33456 ' [wooenr ~a~.s=1 Th~ Property includex, but is not limited to. a parcel of land improved with a dwelling, together with other such pnrcels and. artain common ara~s and facilities, as described in pe~laration of Covenants, Catditiq~s arxl R~esti'°ictions reoorde~ in O.R. Book 406 at Page 636 and as amended in O.R. Book 512 at Page 406 and fur~tt~er in 4.R. 8oo{c 53.5 at Page 743 of the Public Reoords of St. laacie Canty, Florida. ~ (the "Dcclaration"). The Property is a part of a plannod unit devetopment icnown as LONG~D aV~t~G~r~? (the "PUD"). The Property also encludts Borrower's interest in the homoownet's association or oquivaie~t entity owning or managing the cammon areas and faciGtats of the PUD (the "Ov~mers Association") and the uses. benefits and proceods of Bonower's interest. PLJD CovEtvAt~rrs. In addition to the cavenants and agraments made in ihe Security Instrument. Borrower and Lender fariher covenant and agree as followsi A. PUD Obl~gattoas. Horrower shall perfotcn all of Borrower's obligations under the PUD's Corestituent Documents. The "Constituent Documents" are the :~i) Doclaration; (ii) articles of inccsrporation, trust insttument or any oquivalent document which creates the Owners Association; and (ui) any by-laws or other rules or ngulations of the Owners Association. Borrower shall promptly pay. when due, all dues and asseccments' impc~od pursuant to the Constituent Documents. - ' g. Hazacd Iasuranee. So long as the Owners Association maintains~ with a generally accepted insurance carrier. a "master" or "blanket" policy inswing th~ Property which is satisfactory to I.endtr and which provides insurance covtrage in the amounts~ for the periods. and against tha hazards Lender roquires~ including fire and hazards included within the term "extended coverage,"then: (i) Lendtr waives the provision in Uniform Covenant 2 for the monthty payment to Lender of one-twelfth of the yeariy premium installments for hazard insurance on the Property; and (ii) Bonower's obligstion under Uniform Covenant S to maintain hazard insurance coverage on the Property is deemed satis6ed to the extent that the required coversge is providod by the Owners Association policy. ~orrower shall give Lender prompt notice of any lapse in roquired hazard insurance coverage provided by the master or btanket poticy. In the event of a distribution of hazard insurance proceeds in lieu of restoration ar repair following a toss to the Property or to common areas and facilities of the PUD~ any proceeds payable to Borcower are hereby assigned and shall be ! paid to Lender. Lender shall apply the proce~ds to the sums securod by the Security Instrument. with any eacess paid to ' Bonower. ~ ~ -C. Public LtsbUity tnsurance. Sorrower shall taice such actions as may be reasonable to insure that the Owriers Association maintains a public liability insurance poticy acceptable in form, araount, and eatent of coverage to Lender. D. Condem~ation. The procoods af any award or claim for damages, direct or consequential, payable to Borrowtr in connection with any condemnation or other talcing of all or any part c6the Property or the common areas and facilities of the PUD, or for any oonveyance in lieu of condemnation, are hereby assignod and shal! b~ pai~ to I.ender. Such proceeds shall be applied by Lender to the sums secured by the Soeurity Instrument as provided in Uniform Covenant 9. E. I.ender's Prior Conseat. Bonower shall not, eacept after natice to Lender and with Lender's prior writter~ consent, either partition or subdivide the Property or oonsent to: (i) the abandonment or termination of the PUD. eacept 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 cundem~ation or eminent domain; (ii) any amendment to any provision of the "Canstituent Documents" if the provision is for the express bene6t , _ of I.ender; ~ ~ (iii) termination of professional management and assumption of self-managtment of the Owners Association; ~ or ~ (iv) any action which would~have the eRect of rendering the public liability insurance coverage maintainod by ' the Owners Association unacceptable to I.ender. ~ F. Remedies. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. Any ~ amounts disbursed by Ltnder under this paragrap6 F shatl bxame additiona? dtbt of Borrower secured by the Socurity Instrument. Unless Borrower and Lender ~gree to other terms of payment, thtse amounts shall bear interest f'rom the date of disbursement at the Note rate and shalt be payabte, wiih interest, upon notice fmm I.tndcr to Borrower requesting payment. BY SIGNING BELOW, Borrowcr accepts and agrecs to the terms and provisions ined in t' PUD Rider. . 83~291 , ~ s ~ ~ teve Robinso , Single Adult . _ . i~. _.",.^*~J. ES~. t~;:r::~ ~l~.°~y. Ste. 2 "tll ~ ~j (Seal) F: i ;t.'~;:. 'rL 3~~~0 ~ •J.J (345) r~4-i~32 ~ FILEL Y.Nit . :~,,~~;t:t: OOUGLA5 ~1;,~, ~ RK 800K~5~ ~E ST. ~UClF - MULTISTATE PUD RIDER-Smgle family--FNMA/fHIMC UNIfORM INSTRt1MENT iam 3150 lZ/d3 COMSOlWtEO MISIMFSS f0~11S. wt- ~ Yi. QiYEMS, MIClIK'~M ~l0~0 • f) ~ . _.-.,-~.~-..~.~..:..~.~~.....s,.. n.__.. .