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Home My WebLink About1888 ~1~ - - • 628411 Multtstate Condominium Rider THISCONDOMINIUMRiDER~smadeth~s 17th dayot~lanuar~ 19-~Q-.and~s ~r,corporated mto and shall be ~eemed to amend and supplement the Mortgage. Deed of Trust or Secur~ty Deed (the SE;cur~ty Ins!rurnent"1 oi the same date g~ven by ihe undersigned (the Borrower") to secure Borrower's Note to - ~~Z' ~ S'i'- ~~M (the Lender 1 of the sarne date and cover~ng the Property described in the Security ~nstrument IocaiEd at: 3120 N_ AlA 3-C ~ FP_ PI~2['F~ _ Flnrida 3d9Q9 - ( 303 ~ S ~ (PtopertY Atldre55) Th~ ~!~,~p~;y ;nctudas a:;n;t ~n. together ~'1dh an undivided interest in tha common e~ements of, a condomin~um pro~ect krown as: Tiara Towers Candominium ~;Vame al Cmoom~nwm Pro;ed) ithe Co~COrn~n~um Pro~ect"l !f the owners association or other entity which acis for the Condo~irnum Pro~ect (the Owners Assoc~at~e^ ! holds ta!e to p,*operty for the benefit or use of its members or shareholders, the Property also mcludes Borrower s :nterest :n the O~vners Assoaation and ihe uses, proce2ds and bene#its of Borrower's mterest. CondomiMum Covenants. In add~t~on to the covenants and agreements made in the Security Instrume+~t. Borrower and ~erc+er furthei covenant and agree as follows: A. Condominlum Obligations. Borrower shall periorm all of the Borrower's obligations under the Condominium Pro~ect~s Const~tuent Documents. The Constituent Do~umcnts" are the (i) Declaration a any other docurt~ent which creates !he Condom~nwrn Pro~ect by-laws: (u~) code of regulat~ons: and (iv) other equivalent documents. Borrower shall promptly paY. when due. afl dues and assessments imposed pursuant to the Constituent Documerrts. B. Hazard Insurance. Sc~ long as the Owners Assoc~ation maintains, with a generally accepted insurance carr~er. a ~aster" or Clanket' policy on the Condom~nium Pro~ect which is satisfactory to Lender and wh~ch provides insurance coverage ;n the amounts. for the per~ods. an~ against the hazards Lender requires. including fire and hazards included withm ihe term extended coverage." then: fi} Lender wa~ves the provision fn Unrform Covenant 2 tor the monthly payment to Lender of one-iwelfth of the /early ;~rern~um instaUments for hazard ~nsurance on the Property; and Bo!rower's obligat~on under Unrform Covenant 5 to maintain hazard insurance coverage on the Property ~s deemed sat~shed to the extent that the required coverage is provided by the Owners Association policy Borrower sha~~ give lender p, ompt not~ce of any lapse in required hazard insurance coverage. In the even? o` a d,sir~but~on of hazard insurance proceeds in 6eu of restoration or repair follow~ng a loss to the Property. whethei to the un~t or !o common elements. any proceeds payable to Borrower are hereby assigned and shali be paid to Lender for appl~cat~on ,o the sums secured by the Security Instrument, with any excess paid to Borrower. C. Publlc Liability Insurance. Borrower shall take such actions as may be reasonable to insure tha! the Owners Assoc~a',ion mainta~r~s a p~b~~c +~a5~lity insurance policy acceptabie in form, amount, and extent oi coverage te Lender. D. Condemnation. The proceeds of any award or claim for damages, direct or consequential, payable to Borrower in connection ~ti~th any : onCemnation or otner taking of all or any pari of the Property, whether of the unit or of the common elements. ~ or for any conveyance ~n i~eu ofi cor.demnat~on. are hereby assigned and shall be paid io Lender. Such proceeds shall be appl~ed io ~ Lender to the sums secured by the Secu!ity Instr~ment as provided in Uriform Covenant 9. ( E. Lender's Prior Consent. Borrower shall rot, except after notice to Lender and with Lender's pnor wntten consent. ~ e~tr,er par!mcn or subd~vide ?he F'r~Ferty or consent to: ~ r;l ?he abar~dcnment or term~nat~on of the Cor:dominium Project. excep[ for abandonment or term~nat~on rea~ired by € ~ a:~: ~ase of sucs?a^!:a~ ciestr~;c? on by f~re or other casualty or in the case of a taking by condemnation or eminent doFra~n f a^y a^~e^C^,~~nt ~o a^y prov~s~or ot the Constiluent Documerts ii the prov~sian is for the express benef~t o' Lender. •~~•-r n~*. ^n ;-~:~~;~s;~na! ^~;2^agement and assumption of self-management of the Owners Assoc~at~ar. cr s i~v) a~; ac!~en ,ch;c~. ~..e~~ld have ?he effect of rendering the puGlic liab:~ity insurance coverage ma~ntained by tre C.rne~s Assoc;a'~,:.^, ura:ce;?ah!e te Lerder Remedies. ~r B~rrL~.~~E,r ;~o~s ^o! pay condominium dues and assessments when due. ther Lender may pay ther: Any ~~.c'J!'?S sb~.,: see by Lende- ;;nder this ,r,aragraph F shall become additional debt of Borrower secured by the Secunty Instrument U: ~s; Bor; ~,.:~;r une ~er~er ayre~ ;o other terms of payment. these amounts shall bear interest from the date of d~sbursement at ~ r~,~ ;hai' pn ~,~~~ab!e. ~v~th ;n!erest upon notice from le~nder to Borrower requesting payment ~ " ~ BY SiGN!VU 6CLGti"! Borro:rer accepts and ag~ees to the terms and prowsions contained in this Condominium Rider ~ ~ ~ . ~ 90 JAN 24 P 2~23 ~ 10 2113 4. ~ ~ ~ ~ t~ ~5~, rILiL Ml`:l ' BarowC~ ~auc~..~s ~~;y . M. x~v~rD ~j. i_t' : . ' (Seal) 9onc«e* t A. DII~N f ~ (seal) ~ a« o..e. ~ ~ ~ MULTISTATE CONDOMINIUM RIDER-Siry;e Fa~Tiiy-FNMA/FHLMC UNIFORM INSTRUMENT FOrRl31A012/83 r CW 2 3 a 5 5 l 8 9~0 Prenau edtxsis xe ob~dete 034e35 Re. Seo 87 tt602) PC e AOOK ~7~ PACE~H~ : ~ _ . - ._~Y,~4:.>y . _:F.~.:~.~__....~m~,: . . . ~ ~ . . _ _ . . ,.s ~R~~~i~~.*`~.3°°9'~y3,T~~~~ . .