HomeMy WebLinkAbout1605 ~
HAI~BOR FEDERAL SAVINGS AND LOAN ASSUCIATION
23371378
CONDOMINIUM RIDER
fiu.l'~~`Ix~~ti~it~lRlt~t:ki~maJethi~ ...............~S~H.......dayof..............~dlAUdx.y........_ .ly.9A...,
an.i i. u~~~~rEx~ratrd int~~ and shall tK dremed to amcnd and supplement the Mortgage, Dred of Tru,t or Secunty Derd (the
°~ecuritv Instrument") of the same date given by the undersigneci (the "Borrower'~ to secure Borrower's Note to
HARBOR FEUERAL SAVINGS & LOAN ASSOCIATION (the "Lender'~ of the same date and co~~ering the
Property described in the Security Instrument and located at:
3150 NORTH A-1_-A.~._FORT..PIERC,F,..~...#?L.,...~4.94.9..__. _
_ (Property Aadress;
I he 1'r~+~.rt~ uf.•Is~~1r~ ~?~nu in, t~~gether with an undivided interr,t ~n thr ~ummi~n elementti .~f, ~ ~•~~ndi~minium pru~ect t
~
F.iiu~~ n;?, TIARA TOWERS ( NORTH )
_ . _ . . _
(hame ot Condom:nium P~o~ec!~
~thr "C~~ndom~nium Prc~rct") It the ~~~ners a1scxiation or ather entity ~~tnrh acts for the C~~ndomin~um Pro~ect (the ~
"O~~nrn A~.~xiatiun"1 hnids title to pro~rty for the benefit or use of its members or shareholden, the Property also ~
in:lu~ir. B~~rn~urr\ intrre~t in the Owners Atiscx:iation and the uses, prcxeeds and benefits af Borrower's ~ntere,t.
('u~u~~~tl~it'~~ Cc?~ t:~!?~TS. ln addition to the covenants and agrerrnents made in the Se~urit~ lmtrument, ~
B~~rn~~~er an~i Lrndrr further co~enant and agree as follows: '
~
A. Condominium Obligations. Borrower shall perform all of Borrower's ubligatiom under the Condom~nium
~'m~e~t'~ C~~nsntuent D~xuments. The "Constituent Documents" are the: (i) Declaration or ~n~~ i~ther dcxument w~hich ;
~ rrate~ the Condom~n~um Project; (ii) by-laws; (iii) code of regulations; and (i~~) othrr eyuivatent d~xument~. B~~rmµ er tiha{I
~r~,mpth pay, w~hen due, ail dues and assessments imposed pursuant to the Constiwent Documents.
B. Hazard lnsurance. So long as the Owners Association maintains, w~ith a generall} acceptrd insurance carrier, a
"ma,ter" «r "blanket" puli.}~ on the Condominium Project which is satisfartory~ ro l.ender and ~~hich pm~~ides intiurance '
;u~erage in the am~~unts, For the per~c~ds, and against the hazards Lender requ~res, including hre and hazard~ ~nc:uded
~~iihui the term "extended co~erage," then:
Lrnder ~ai~es the provision in Uniform Covenant 2 for the manthl} ~+a~•ment tu Lender ~~f ~nr-t«elfth of
the ~e~rl~ prrmium installments for hazard insurance on the Property; and
(~i) BorroNer's ~,bligation under Uniform Covenant 5 to maintain hazard ~nsurance co~erage on the Property
n.ie~mrd sansfied to the extent that the required co~erage is provided by the Ow~ners Assa:iation p~~lic~ .
Burrower shall gi~e Lender prompt notice of any lapse in required hazard insurance co~erage.
Ir the e~ent of a di~tnbution of hazard insurance proceeds in lieu ~~f restoration or repair folluwing a loss to the
Pru~ert~. whether to ~he un~t or to common elements, any proceeds payable tc~ Borrower are hereby assigned and shall be
~:~~~i to Lender for applicatic~n to the sums secured by the Seeurity Instrument, w~ith any excess paid to Bc~rrow•er.
C. Public Liabilit}~ lnsurance. Borrower shall take such actions as ma~~ t~e reasonable to ?ntiure that the Owners
A..~~~~anon ma~ntaim a pubhc liab?lity inturance policy acceptable in form, amount, and extent uf co~ erage to l.en~ier.
~ D. Condemnation. The proceeds of any award or claim for damages, direct ~r consequential, pa} able to Borrow~er in
~ runneruun with an}• rnndemnanun ~ir other taking of all or any part of the Propert}~, w~hethcr of the unit or of the c~mmon
; rl~ment., or for an}~ come}anre in lieu of condemnation, are hereby assigned 3nd shall be paid to Lender. Such ~roceeds
~ ,hall br:~p~lied b~ Lender tu the sums secured b}~ the Security Instrument as pro~ided in L'niform C~n•enant q.
~ E. I.ender's Yrior Consent. Borrower shall not, except after natice to Lender and with Lender's prio~ ~~~ntten
F ~r.n~ent, either partition or tiubdivide the Property or consent to:
~ (i) the abandonment or termination of the Condominium Project, ezcept for abandonment or term?nation
req~nrcd b} law in the case of substantial destruction by fire or other casualty or in the case af a tak~ng b~ condemnation or
~ em~nrnt doma~n;
~ (i~) any amendment ta any provision of the Constituent Dc~:.uments if the proci,ion is for the express benefit of
~ Lender.
~ (~ii) term~nahan of profetisional management and assumphon of self-management of the Owr~ers Association:
~ c~r
~ (i~~) any action which would have the eftect of rendering the public liability insuranre cmerage m~iintainrd by
~ the Ow nerti Assoc:iati~n unacceptable to Lender.
a F. Remedies. If Borrower does not pay condominium dues and assessments when due, then L~nder ma~~ pay them.
~ An~ amc~unts di1burted by Lender under this paragraph F shall becc~me additional debt of Borrow~er secured b}• the Secunty
Instrument. Unless Borrower and Lender agree to other terens of payment, these amounts shall bear interest from the date of
~ ditibursement at the Note rate and shall be payable, with interest, upon notice from Lender to Borrow~er requetiting ~ayment.
r
~
~
~ Bt' Sic;tiitic; BF~_ow. Borrower accep!s and agrees ro the terms and provisions contained in this Condeimini rn Rider.
-
/ ~ ~
, - .
y .
(Seai)
, ..._ao~~owe.
' 1 O 2 z 1~ ~ 3 RAI,PH MiJRL EVERITT
°r .
G
~ -
~0 JAN 31 A9 ~3L C-\ .~~..1~:~::C~.. . .....k.:..'~,~~~ . (Seal)
F / . . . ..g~,~owe,
,l-
~ NANC~p EVERITT
~ t tl.C + •
~ ~OUG~ c ~ ~ ON
i J{, i' ~~l BOOK PAGE~,~I~t~
MULTISTATE CON00lWINlUM ftIDER-s~ngte family-fNMA/FHLMC UNIFORM INSTRUMENT Fo:m 3140 12/83
6! 84 LN lJ4
~Z~71't'7R
_ =4 s~. ~.~E~ x'~~s ~~~`~~~`~~z~`_