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COND4MINIUM RIDER
2nd............dayor.......~eptember t98?....
THIS CONDOMINIUM RIDER ii made lhis
and is incorporated into and shall be deemed to ammd and suppkmenllhc MoA~e, Dccd of Tnut or Security Deed (the
"Security Instrumrnt" of the same date 'rrnby the undmi`ned (the "Bo~ower") to securc Borrower's Note to
~
Sttn Bankf ~~g~~417C~...~~S.t,,...I~[d~~iA.ria1..ASSnci.atio~n ctne ~[.ender..
of the same date and mverin; the P ydacriDed irt the Security lnstrumrnt rnd loutod at:
...................................................~~~.S~S1.......1.~~
..~..Y.~.~.~~...~.~~.~C...~...N.....,H~~,....~~.~P~:~r~e,...Fl......
The Propeny includa a unit in, to~Nher w~ilA an w~dividod interat in the common elemmts of, a condominium project
known as: q+Hg SANDS ~ A CONDOMINI~IM SECTION I
.
t ei'L`enaonrnw.n'~i
(the •'Condominium Project•~. If the owme~s as~otiation or other entity ahich atts for Ihe Condominium Project (the
"Owoen AuociaYan") holds titk to ptoperty for the benelft or use of its ~brn or shsreholdcrs, the Property aiso
includa Borrower s interest in the Owners Aasoci~tion and the wa. procads and Denrfits of Borrower's interat.
CONDONtNtUM COVENAMS. [n additan to the oovenants iufd aarcemrnts made in the Seeurity Instrumrnt,
BoROwer and Lender furthsr eovaunt and a;ree u fdlo~rs:
A. CoedomLim 06H~tlosi. Borrwva shall pettotm all of Borrowus obliaa~ions under the Condominium
ProjecCs Constituent Documents. The "Canstitua~t I)ocumaus" ue thC (i) Declantion or any aher document Mhich
ereata thc Condominium Projat; (ii) bylawn; (ui) oode af tquktion~ and rr) other equiv:lml documrnts. 8onower slul!
P~Pi~Y P~Y~ +rhm due, ali dua and auasma~ts impaed purswnt to the Canuiturnt Documrnts.
B. Hwr! I~uuruee. So lon` ss the Oanexs Association maintaim, w~ith a`eneraliy ~ocepted insunnco urrier. a
"master" or "bianket" policy on the Ca~dominium Projecl ~vhich is ntisfsctory to I.ender snd which provida insunna
covrnae in tbt smounts, far the periods, and apimt the hazards I.endet requira, i~uludin6 flre and huards includad
within the tcrm '•utended coveraae." then:
(i) Le~der aaiva 1he provision in ilnifortn Covenant 2 for the monthly p~yment to Lender of onatwd)lh of
~l~e yarly premium installmcnts for haurd insuniwe on the PropertY: and
(ii) Borrower s oDliastron under Uniform Covenant S to maintain hazard insunnce covenge on the Property
is deemed satisfied to the eatmt ~hat the requirod ooven`e is pmrided by the Owaers Association policy.
Borrower shall sive L,ender prompt notice of any lapse in requirod haurd insunnce coven6c.
In tlu evrnt of a distribution of har~rd insurance proceeds in lieu of ratontion or rcpair fol(owina a loss to the
Propcrty, whether to the unit or to oommon ekana~ts, anr ptnceeds payabk to Borrow~er are hcreby auianed and shall be
paid to l.endcr fo? ~ppliqtion to the iums ~ecurad by the Security instrumrnt, witA any eacas paid to Bonower.
C. Publk Ll~bllltr lasar~e. 8orrow~a shsll take suc6 actions u may be rason~ble to insure that ~he Orvncn
' Association maietains a pubtic liability inwnncr poticy aaxplabk in fovm, amount, ind extrnt of coverage to Lcnder.
~ D. Coedeeaatloe. The prooads of ~ny aw~ud or c W m for dam~ ja, dirett or eonseqnrntial, payable to 8orrower in
connection with any condemnation or othu takin6 of dl w ~ny patt of the ProptAy, whethcr of the unit or of the common
ekmrnts, or for u?y oonvey~noe in lieu of condemnation, arc lxreby assipxd snd shaU be paid to Le~er. Such proceeds
shall be spplied by i,ender to the sums secured by the Security Irutrumrnt at provid~d in Uniform Covrnant 9.
E. L.ender's Prlor Coauat. Borcowa thall not, exapt atler notice to l.ender and writh Lrnder's prior ~v~uen
E consent, either parr_ition or subdivide the PropeRr or conxnt to:
~ (i) ~he abu~donmrnt or termination o[ the Condominium Project, uceq for abandonment or tcrtnination
f «quired by law in the use of substinlial dattuclion by flrc w othtr casualty or in the case of a takin6 by condemnation or '
E eminmt domain; ~
ti (ii) any amendmrnt to any provision dtl~e Constiturnt Dacumeets if the provision is for the express brncfil of j
Lender, ~
~ (iii) termination of prokssional rtunasemrnt snd assumption ofself•managemrnt of the Ownen Association; ~
or ;
~
(iv) any ution which would have tl?e dfxt of rrndering the public liability insurance coverage msinuined by ~
~ ~he Owncn Auociation unsccept~ble to Lrnder. ;
Remtdia. If Borrorver does not pay oondominium duts and assessmenq whrn due, then Lcnder may pay them.
Any smounts disbursed by~I.ender under this paraaraph F shall become additanal debt of 8wrower secured by the Security ;
Instroment. Unteu Bonower and I.endcraaree to othtr terms olpsymrnt, thae amounls shall bear interest from the dste of
; disDurxment at the Note nte and shal) be p~yabk, w ith interat, upon notice from Lcnda Jorrower requatin6 payment•
~ Bv StcNt~G BElow. Borrower accepts and a6rea to the tertni
and provisions contained in this Condominium Rider.
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~ MULTISTATE COHDOMINIUM RIDER-s~+. Fam~y-ftiMA/FMLAIC UMIFORI~ INSTRUMEN? re.~+ 3~~0 ~tn1
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Boox 5~6 ~c~ 995
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