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Home My WebLink About1873 , ~ ~ . ' . 628410 Multistats Condominfum Rider THISCONDOMINIUMRIDER~smadeth~s 17th dayof January ~9_~Q_____.and~s ~ncorporated ~nto and shau be deemed to amend and supplement the Mortgage. Deed ot Trus' a Secunty Deed (ihe Secunty Instrument") of the same date given by the unders~gned (the Borrower") to secure Borrower s No1s to BARNEE'IT B~1PIC C~ S'1' LIX TF (YYH~TiY It.n,e Lender'1 of the same date and covenng the Property descnbed m the Secunty Instrumeni located at. 315Q N. AlA UNIT 7-n , Fr_ pTrmr-~?_ _~i ~,-~_~q~.q~ (Property AdcXess) The Property ~ncluoes a urnt m, togethe~ with an undivided interest m the common elements of, a condom~nium prolect known as: Ti ara Tewerc ('nnrinn; n,i,~~Yp (Name ot Cona~mmwm Pra,ectj (the Condominium Project") If the owners assoc~aGon or other ent~ty wh~ch acts for the Condom~rnum Pro~ect (the Owners Associat~on"1 hoids tftle lo property for the benef~t or use of its members or shareholders. ihe Property also ~nci~des Borrower's ~rnerest m the Owners Associafion and the uses proceeds and benet~ts of Borrower s ~rnerest Condominlum Covenants. In addrt~on to the covenants and agreements made ~n the Secunty Instrument Borrower and ~ender further covenant and agree as follows: A. Condominium Obliyations. Bcrrower shail pe+form all of the Borrower's obl~qa:~ons under the Condominium Projec~'S Const~tuent Oocum2MS The Cunstituent Documents" are the (i) Declar2t~on or any other document wh~ch creates the Condomirnum ProjecC (ii) by-laws: (fu) code of regulations; and (~vl other equivalent documenis Borrower shall promptty pay. when due, all dues and assessments ~mposed pursuant to the Const~tuent Uocuments. B. Hazard Insuranee. Sc long as the Owners Association ma+r.ta~ns. w~ih a generally accepted insurance carrier. a master" or blanket" pol~cy on the Condom~nium Pro~ect ~vh~ch is sat~sfactory to Lender ar~d wh~ch prov~des ~nsurance coverage ~n the amounts. for ~he penods. and agamst the hazards Lender requires. incfud~ng fire and hazards mc!~ded withm the term extended coverage." then (ij Lender ~va~ves the prov~s~on m Un~torm Covenant 2 for the menthly payment to Lender of or,e-twelfth of the yearly prem~um ~nstaltments for hazard insurance on the P~operty: and ~u) Borrower~s obiigation under Un~form Covenant 5 to mamtam hazard insurance coverage on lhe Property is deemed sat~shed to lhe extent ?nat the required coverage ~s provided by the Owners Assoc~at~on ~o!~cy Borrower shali give Lender prcmpt not~ce of any lapse ~n required hazard insurance coverage In the event of a distnbution of hazard insurance proceeds ~n I~eu of restoration or repa~r foiiow~ng a~oss to the Property. wnether to the unit or to common elements. any proceeds payable t~ Borrower are hereby assigned and shall be pa~d to Lender for applicat~on to the sums secured by the Secunty instrument. w~th any excess pa~d to Barower. C. Public Llability Insurance. Borrower shail take si~ch act~ons as may be reasanabis !o ~nsure ihat the Owners Assoc~ation ma~ntains a publ~c i~ab~lity ;nsurar.ce pol~cy acceptable in form. amount. and extent of coverage to Lender D. Condemnatlon. The proceeds ot any award or cla~m for damages. direct or consequential. payable to Borrower in ~ connection w~th any condemnation or other taking of al! or any part of the Property, wheiher of the un~t or of ihe common elements. ~ or for any conveyance ~n i~eu of condemnat~on. are hereby assigned and shali be paid to Lender Such proceeds shaii be appi~ed to ~ Lender to the sums secured by the Securrty instrument as prov~ded in Un~form Covenant 9 ~ E. Lender's Prior Consent. Borrower sha!•. not. except after notice to lender and w~th Lender~s pncr wrdten consent. 4 erther part~t~o~ or subd~v~de the Properiy or consent to ~ (s1 the abandonment or terrrunation of ihe Conoomirnum Pro~ect. except for aba~donn~ent or termination requ~red by € iaw ~n ±ne case cf substan?~ai dest!uct~on by fire or ether casualty or in the case of a taking by condemnaGon or eminent doma~n: i~~i any 2mendment to any provis~on of the Const~tuent Documents if the provis~on ~s for the express benefit of Lender: ~ •;erm;r,~?~cr. of pro'essional management and assumpi~on of self-manageme~? of ?he Owrers Assoc~ahon or uv~ any ac;~on whoch ~ti~outd have the effect of render~ng the publ~c l~ab+Gty insurance coverage ma~nta~ned by the ~ O~n+ners Assoc~at~cn unacceptable to Lender. ~ iiemedies. if Borrower does nat pay condominium dues and assessments when due. then Lender may pay them Any ~ arnourts d~sbursed by Lender under th~s par2graph F sha,i became addit~onal de~t of Borrower secured tiy the 5ecunty Insirume~~t • Unless Borro~ver and lender agree to other terms of payment. these amounts sha;l bear interest from the date ot disbursement at ~ the Note rate and sha!! be payabie w~th ~nterest. upon rohce from lender to Borrower request~ng payment ~ BY SiGNIN~ BELOW. Bo!ro~.~er acce~its ar.d agrees to !he terms and provis~ons conta~ned ~n !his Concbmmium R~der ~ ~ ~ ~ ~ ~ (Seal) 6«rowe~ A. ~ v a«.o~. RII~ J. (sea~ e«,w~e~ € ~ ~ ~ ~ ea,o,~er ~ ~ ~ MULTISTATE CONDOMINIUM RIDER-S,ng~e Fa^~~iy-FNMA/FHLMC UNIFORM INSTRUMENT FOrm31101?la:i ~ € CW ~ 2 3~ 5 6/ 8 9 t0 Pr¢vqu5 edR~pn.e are pp5p~ele 089~,35 FEv Sep 87 ~1602) PC E eoac674 ~cE1873 ~ - ~ - - -