HomeMy WebLinkAbout2128 _ f
I
~
i
Muitlstat~ PUD RWK ~
i
~
THlSPIANNEDUNITDEVELOPMElVTRIOER~smadeth~~ 30th d'y~} january ~g 90 and~~ ;
u~corporeted into ano s7al~ bo Oeemed ~o ame~d end supp~tment the Moripa~e, Deed ol Trust a Secunty Oaed (the ' Security
~nstru?nern") ot tne same dete, p~~ven by ths unders~gneci phe Borrower") to securs 8orrower's Note to
Barnett Bank of St Lucie Count (the'Lenckr")
ot the sflme_~iat0 ~nd covenng the Property dBSCTib6d tn 11te 38CUtity I~etrumenl end tioceted a1: ,
XxX Gre~ Heron Court, Ft.Pierce, F1. 34987
~ (Proputy AdQ~effl
Th~ Drnnnn.~ infNl~~/1qe h,~! ~e nn! I.rn:f~~ In e.~e.~nl n1 tenel iinnJ~..u~+ .:M n M•..+ll:n.. ?....~~Mei u.:N. M?..v r- nwle nn.i
. _
• - _ _ ~ ' ' ^ ' Y• e_ I
. • : . = - ' r_ - - ~
common ereas and tacilities. 83 48S~~~ ~~t nPCI ^r^ i c~ nf rnvPnanF~ ~nd__ r~c_~rirr»^~
Reserve Plantation Phase II .
~
(the ~Dedaracion") The Property is a part of a p~annM und development knovvn es The Rese_rv_e_ _ '
IwMC a ~~~+ad tkv~ a.YNaQn+o^U
(~he "PUD"). The Property atso ~nctudes 8arower's intere~t in the homeowners ~ssoc~ation or equivatent emity c~wninp or
manaflinp the common areas and ~ac~i~t~os ot cne PUD (the `Owners Assocsation") end the uses. qpnetita and proCeedS Ot ,
Borrowe~'s intera5t. ~
PUD CaY~n~nt~. in add~uon ~o the covenants a~d agreernents mede in !he Secur~ty Instrument, 8orrawcr and 4ender
lur~her covenant and agree as lollows:
A. PUD QbllqatlOn~. 8orroa~er sha~l per'orm aU ot Borrower's oW~qations under the PUO's Canstltuent Documents 7ne
~Constituent Documents" a~e the: (i1 Dec~arahon: (i~) arlides o~ incorporation, lrult instrumenl or any equiva~ent document which
c~eaces the Owners Assoc~ation and ni~l any by-iaws ~r otner rU1es a r~u~atio~s of the Owners Assoc~a~tio^- Q^r+^wp• °-.^.s!! ,
prompty pay, when due. ail dues end essessmen;s ~Tposed pursuant to the Constituent Documents.
H~z~rd In~uranc~. So lon~ as ihe Owners Assoc~atiom m~intains, with a qenRraily accepted insurance ca~rier. a
master" or ' btenKet" poa~cy Fnsur~r?~ the P~operty wtticTt is satistactOry t0 Lender snd w~tich provides ir~surenCe Coverafle in the
amou~ts, tor the pef~ais, and a~ainst tt,e ha2ards ~en~er requires. Enc{u~inq Nra and hazards ir,eluded w~thin Ine tam "extended ,
covere~e." men~
(i) Lender wa~ves the prov~sion m Unito~m Govenant 2 fo~ th4 monthy paymecit to ~ender o( ane-twe?1!h ol the yea~y
premium instai~ments fo! hazard ~nsu?dnCe o~ Ihe Properly: and
(~i~ Borrower s oW~~etion under Uniform CovenAnlS tomdintain hazardin5urance Covere~e on the Property is deemed
satisfied tu the extent lhnt the reyuired cove~epe ~s prov~ded by the Owners AssoCialion poliCy.
~ BOrrOwBr Sha!' 9+ve ~ender prompt norce o! any lapse in requNed hatard insurance coverage provided by the maste~ a ~
pldnket ooli~y
~ fnthe event ot a d!slnoution oi hazard msurance proceeds in tieu ot restoration or repair touowiny a ~oss tothe Properry orto
~ common a~eas and (ac+~+t:os of the PUO. any proceeds peyeble to 8orrower are nereby essipned and shari be paid to Lender.
~ Lender shall appy the proceeds to the sums secured by tne Securiry Instiume~t wiih any excess pa~a to 8a~ower.
E C. Rubllc Llabfilty In~ur~nc~. Barower sha~l takc such actions as may be ~easonable to insure tt~at the 4wners
~ Association mainteins s public Ifebiiity insu~ance pol~cy accvpt~ble in form. emo~M. end r.xtenl ot coveraQe to Lende?
; O. Cond~mnaUon. The proceetls o1 any award or d~im tor dameges. direct a cansequenliei. peyable to Borrowe? i~
~ connection w~th any condemnation or other tekir~p ot aft or any part of the Properiy or t~e common areas and taciiities of ihe PUO, or
tor any conveyance ~n i~eu o~ condemnaaan. are herohy ass;gned and shall be paid ~o l.ondcr. Such proceeds shai~ be appi~vd by
; ~endet to the sums secured by the Seeuriry ~n5trumM? as ~rovided in Uni1o?m CovenaM 9. ~
E. ~~nder'~ Prlos Cons~ni. 8orrower shafi ;,ot. except after not~ce to Lender and with Lender's prior wrii?en cor~sent.
~
~ e~ther partitbn or suQdivide !he Prope~ty or consent to:
~ (i) the abandonment or termination oi lhe PUQ, excep~ ~a~ nbandonment tcxmmat~n required by lew ir~ the caae ot
~ substanbal destruCtion by fire or Othat C~suatty or in the case of a takmp by Condemnatian or emincnl dom~i~;
; (~i) eny amendment lo any provision ot thr Consiituent Documents" it Iho proviswn is lor Ihe express benelil C! Lender;
" (i~i) termination of protessional manaQement ond assumptian ol self-menape~nen~ at the Owners Assaietion: or
F (~v) any acl~an wr~ch wou~d have the elfect ot renderinp the pub!ic Iiebiiily insuranco cc~verage mainte~ned by the
~ Owners ASSOCiation unacCen~ab?c to Lender.
~ F. R~~r~d~~s. li Bcrrower does rtot paq PUb dues end essessments when d~e. lhen Lender may nay tham Any 8m0uMS
~ d~s~au~sed Gy ~ende? unde+ Ih~S pd~d~raph f Yhall beCOme Hdditian8l debt Of 9orrpwer seCU~ed by lhe S6CUtity InStnament Ur11egS
; Bonower en0 Lenae? aQ~ce to othe~ tOrmS ot p~sym~nl, thCSe a~Tl0ufri3 SneN b88~ ~~~OsciS1 ftOm th~ d8i801 dt9bUtS@m!r?t d11hC tvOtE
~ rete and shflll De payeble wnh interest, upon notice lrorn l.c~der to Borrower requestinQ payment.
BY SIGNING BEL01N. Borrowe~ acc~pts and agresa to tne terms and provi~ions contained ~n Ihls PU~ R~de~
~0~26 ~ 9 j
~ ' t~~
~90 JRN 31 P-~ :~U ~ J ES H. ELAI~i
U ~t13' .A~ ~ <'~~i'.~vtti/
- ~ .
' ~ ~ ~ ' ~ CHRI S D . ELA,K •00"°"'
~'~L~r~ x.~?, .
~ 1. . ~ " i$e~
-e~a•«
-
60RK ~~c~ ?AGF~~~C7 ~e«ro»«
blUlTl$TATE PU~ RIDER-Si?1QIa Far.~ily-fNk4A/~HLMC UNIFORM IEiST~U1~A#NT ~ot1s131501L~~
CW 2~ Q 7 0 G~0 Pr~ Wbon~ w oad~ll p1~~u aw ,t~1 '~t ISl4TI /C
~~~5_-«....~~ <n~-~.~~ : r ~~~~~'s