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CONDOMINIUM R1UER
TIIISCONDOMIHIUM R117ER It M~dt (Alf........~7.C.~............ d~r of ........Jc1xt~4a~.}' 19......90
~nd i~ incorponud inlo ~nd sh~ll be damed to ~mcnd ~nd supplemenl Ihe Monp~e, Deed of Trusl or Securi~y Dced (the
"Securily Inslrumt 1") 0~1hc same datt ~ivee bp lht undtrtijn (Ihe "80r~owcr") to secure Dorrorver's Nole lo
.....~~z?...~~n~kf~x.~.a.su.z.~...G4~.~~.....va~~Q~a~,_Association ..........................t~he•~Lendet••~
of ~Ae ume d~tt and coverin~ ~hc Propertr de+eribed (n lhe Saurilr instrumcn~ ~nd loc~~ed ~1:
.......................2latl0...S,....Qcean..Ds..... ca e...~~as1.~72,....F.L.P.ier.ce.....F.~.~,....3.4.~..4.~................
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The Properly includa a unit in, Io~Nhef writh u? undivided inleral in the common ekmenlf of, a condominium projetl
t~,w~~+s: Seascape
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phe "Condominium Project"). If the oweas astocl~tion o? ottur enti~r ~Akh ~cts for ~he Condominium Projat (the
•'Owners Association") Aold~ litk to property for tbe beneat or we of itf inemben or sn~rei+oiaen, the Ptopenr ~I~o
inciudes Borro~ei s interat in the Owmen Affotutlon ~nd Ihe uses, proueds ~nd benehts of Bortoavtr's intcrfst.
CoNtx~+11HwM Cov~~tvis. In ~ddition to the oorenants ~r~d ~~rcemrnls made in Ihe Security InslrumeN,
i Borrower ~nd Lrndet fuMher corenant ~nd ~Stet as follorf:
' A. Condoml~l~s O?Ilptbn. Borro~rer ~l+all perform tl) of Borcorcr's obliaalions under Ihe Condominium
Projcc~'s Ceu~sliiuent Documto~s. The "Conslituent Documrntf" ~te lht: (i) Declar~lioe or a~r o~her daumenl wrhich
cra~es ~hs Condominium Projed; (ii) br-l~ws; (iif) oode of re~ul~tiorts; and (iY) other equivalcnl documcnts. Borro~rer shall
P~M~r P~Y. ~~+due. all dua and ~»WmtoU Imposed pnrtuan! to the Cons~ituset Document~.
B, tl~rird les~nnce. Sa lon{ as the OMnen Associatian maintain~, aith a ~rncnlly ~ccepted in}urance urrier, •
•'m~ster" w"bl~nket" polKy on the Ca+daninium Projeel w~hich if utift~ctory to Lendcr ~nd which prorida insursnce
covera`e in ~he ~mounts, for Ihe periods. and apintt the haurds Lendu requira, includin` 6re ~nd harards included
wilhin ~he ~crm "e~leaded corer~se." Ihen:
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~ (i) l.tnder w~ives tht provision ie Uniform Covenant 2 for ~he monthly paymcnl 1o Lender of one•1~rtlflh of
1~t yearlr premium intl~llmenls for h~ta~d insunnte on the Propertr: ~nd
s (ii) Borrorer's ol+li~~tion undet Unifotm CorMant S to m~int~in hit~rd insunnce corer~~e on 1he Propertr
~ is deemed satislled 1o Ihe ealeni ~hal lhe rcquited eoverate a provided by ~he Orners As+oci~tion policy.
~ Borrowcr shall ~ire Lcnder prompl notke of anr l~p~s in required haL?d insunnce coren`e.
In the evrnt o[ a dislributio~ d huatd Insunnet procee6s in lieu of ratontion o~ rep~ir folloMin~ ~ ioss to IAe
~ Prope?ty. w~haher ~o Ihe unil or to oomrtoon ekeneats, anr proeeedt p~r~ble to Botrowcr are hereby ~s~iined and shall be
~ psid to Let~der fot ~ppliution to Ihe turta ~arorod br the Seeuritr Intlrument. ~ri~h ~nr eacess paid to Borro~er.
~ C. Prblk Us?Illtr Iniar~wtt. Darf~ow~et Ehdl l~Re tnch ~ctions u may be re~sonable Io insure ~hst the Owncn
~ Auoci~tion maint~insa publit li:bility intnnMepolier aoupl~bk in form, amount, and ealem olcorera~e to Lenda.
F D. CoedtmnaUon. The proctedf dany aw~~rd or el~im for damaEa. direct or consequcr+lial. paY~bk lo Bonorer in
~ conneclion wi~h ~~y to~Atmn~tit~c a? otMs tskfa~ daH o~ sap part oi the Ptoperty, whelher of Ihe ~nit w of ~ht eommon
elements, or for ~ny tonrcyance in litu deondemnalion. ~re heteby atsi`ned ~nd sh~ll be paid to Lender. Such proceeds
~ shall be applied by l.endcr to Ihe sumf teturod bp the Seeuritr Instrument u prorided in Uniform Covenant 9.
E. Lender't Priw Cen~enl. Baforer fhal) nol, exetpt a(It~ notice lo Lender ~nd With Lendet's prior wrilten
~ conxnt. ci~hcr p~rtition or subdiridt Iht Propettr or conscnt ta
(i) Ihe abandonment or tmnination Of the Condominium Projeet, except for ~bandonmenl or termina~ion
( reQuired by I~w in the c~x ot subst~nlial datruetioe~ by Are or olber euualty or in 1he case of ~ takin~ br condemna~ion ot
" eminrnt damain;
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~ (ii) ~ny amendmenl to ~ny prorisio~ of tht Constituent Documents if the provision is for the expras beneffl d
~ Lender,
~ (~ii) termina~iun of profeuional mana`emrnt ~nd assumplion of selGman~gemcnt of Ihe Ownen Association;
or
~ (i~) anr action which would Mve the eA'eet of renderini the public liability insurance covcra6c m~int~ined by
~ ihe Ownen Assxialion un~ccepuble to Lendt~.
~ F. Remedla. If Borrowet does not pay oondominium dua anE wessmenls w~hen duc, thcn Lcndcr may pay 1hcm.
4 Any amoum~ d~sbuned br l.cnder under this par~anph F shall become addition~l debt of 8e.rorer secured by 1he Szcuri~y
~ Instrument. Unless Dorrorver and Ler~det apa to other termsof psrmrnt, thsx amounls shdl bear interest L-om the da~e of
~ disburscmrnt at ~he tJott nte ~nd fhall be p~yable. ~vith intc~al, upon notice from Lende. b~ro.+ cquestin~ pay+nenl.
H~ SicNING BELOw. Borrower ~cetpl~ ~nd ~~rea to the tertni md provisionsoonuined i~ this C nd inium Rider.
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MUIT{STATE CONDOMINIUM lilOER--S~nt+~ ~1mMr-INMAJiNIMC uHitOn~+ IMS111UM[NT tarn I1~0 1t/fI
~'GRK 675 ~ Nf,E 2052
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