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Home My WebLink About2813 AI~'Y REFEF~X~ TO GLEI~IDIILE F'EI~RAI. SAV INGS 11tID IAAN I~,.SOCIIITION EII'.REIN OR AT'U~QII~ITS , IS A F2E~Rf:IQCE TO Q,~1LE F'EDEFiAI, BAriK ~ FI'.L1EFtAI. SAVII~S B~1PIIC. ~ a~ ~ ~ ~„r`,,` V~.~t'1t~LE FEDEf~AL COND4M1Nltil~i R1DE~2 TN~~ C'c~~UO~~ti~t;L1 RII~FR is made this 3~T da~' of JAI~TUARY, 1990 and i~ incorporated into and sha1V be deemed to amend and supplement the Mortgage, [)eed of Trust or Sec~?~ity nred (the "Security Instrument'1 of the same date given by the undersigned ithe "Sorrower'~ t~ secure Borr~N•er's Vote to GLE`DAI_E EEDERAI_ SAYINGS A\n LOAN ASSOCiAT10N (the "Lender'1 of thc same date and coveri~g the Propen~~ described in the Securit~~ Instrument and located at: 1003-I3 PHE~.SANT RUN DRIVE, FORT PIF•FtGE, FL 34954 ~Pr~rty AdCroas) fhe Propert}~ i~cludes a unit in, tugecher with an undivided interest in the common elements of, a condominium pro~ect known a~~ HZt~i POINT OF FORT 2IERCE C`ONDO~MINIUM SDCTION II lName ol Co~dom~~wm Pro~ecp (the "Condominium Project"). If the owners association or other entity which acts for tr~e C:ondominium Project (the "Owncrs Association") hold~ title to property for the benerit or use of its members or sharehotders, the Propert~- also ~ncludes Borrower's interest in the Ownen Association and the uses, proceeds and benefits of Borrower's interest. CONllOM11~lUM COV£NANTS. 1n addition to the covenants and agreements made in the Secunty Instrument, Borrower and Lender further covenant and agree as folfows: A. Condominium Obtigations. Barruwcr shall perform all of Borrower's obligations under the Condominium Proje~t's Constituent Documents. Thc "Constituent Documents" are the: (i) Decla~ation or any other documeht which creates the Condominium Project; tiil by-laws; (iii) code of regulations; and (iv) other equivalent documents. Borrower shail promptly pay, when due, all dues and assessments imposed pursuant to the Constituent Documents. B. Hazard Insurance. So long as the Owners Association maintains, with a generally accepted insurance carrier, a "master" or "blanket" policy on the Condominium Project which is satisfactory to Lender and which provides insurance coverage in the amounts, for the periods, and against the hazards Lender requires, including fire and hazards included within the term "extended coverage," then: (i) Lender waivcs the provision in Vniform Covtnant 2 for the monthly payment to l.ender of one-twelfth of the yearly premium installments for hazard insurance on the Proptsty; and (ii) Borrower's obligation under Uniform Covenant 5 to maintain hazard insurance coverage on the Property is deemed satisfied to the extent that the required covtrage is provided by the Owners Association policy. Borrower shall give Lender prompt notice of any lapse in required hazard insurance coverage. In the event of a distribution of hazard insurance proceeds in tieu of restoration or repair following a loss to the ~ Property, whether to the unit or to common elements, any proceeds payable to Borrower are hereby assigned and shall be paid to Lender for application to the sums secured by the Security Instrument, with any excess paid to Borrower. C. Public Liability lnsurance. Sorrower shall take such actions as may be reasonable to insure that the Owners Association maintains a public liability insurance policy acceptable in form, amount, and extent of coverage to Lender. D. Condemnation. The proceeds of any award or claim for darnages, dit~ct or consequential, payable to 9orrower in connection with any condemnation or other taking of all or dny part of the Property, whether of the unit or of the ' common elements, or for any conveyance in lieu of condemnation, are hereby assigned and shall be paid tu Lender. Such ` proceeds shall be appiied by Lender to the sums secured by the Security Instrument as provided in Uniform Covenant 9. E. Lender's Prior Consent. Borrower shall not, exccpt after noticc to L.ender and with l.ender's prior written : consent, either partition or subdivide the Property or consent to: (i) the abandonment or termination of the Condominium Project, exccpt for abandonment or terminatian ~ required by law in the case of substantial destroction by fire or other casualt~~ or in the case of a taking by condemnation 4 or eminent domain; (ii) any amendment to any p~ovisiun of the Constituent Uocuments if the provision is for ti~e express benefit of Lender; (iii) termination of professional management and assumption of self-managemznt of the Owners Association, or (iv) any action which w~ould have the effect of rendering the puhiic liability insu~ance coverage maintained by the Ow~ners Association unacceptable to Lender. F. Remedies. lf 8orrower does not pay condominium dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this paragraph F shall become additianal debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to otfier terms of payment, these amounts shall bear interest from the date of disbursement at the Note rate and shatl be payable, with +nterest, upon notice from [xnder to 8orrower requesting payment. BY SIG~`l~G BEI.Ow'. Hc)RROWER a:repts and agrees to the terms and provisions contained in this Condominium Rider. - 2~~~ ~ I~'A?~P.HI? ~i~DS~1f~ MAFZILYN F. - - - ~.1~CI 3-0-~ 19 b~ r tLt ~ ~i ' . ~~UG! ~ . ; Y ~ Sl ._1,~, MULTfSTATE CONDOMIi~IiUM RIaER - S+ngle Fam~ly - fMMAlFHLMC UMIFORM lNBTUUMENT Fatn 3ts0121~.1 AP'~L. # 0~25900~407 I,C1~N # 1212364 Gf F11455 s-sa Q ~ooK675 PAGE~p13 's: ~ ~c f a~' y: .5 Y'~~ ~ , Y.~