EFTA01280063.pdf

CONDOMINIUM RIDER
THIS CONDOMINIUM RIDER is made this 10th day of December, 2014
and is incorporated into and shall be deemed to amend and supplement the Mortgage, Deed
of Trust, or Security Deed (the "Security Instrument") of the same date given by the
undersigned (the "Borrower") to secure Borrower's Note to Fifth Third Mortgage
Company
(the
"Lender") of the same date and covering the Property described in the Security Instrument
and located at:
435 S Tryon St Unit 700
Charlotte, NC 28202
(Property Address)
The Property includes a unit in, together with an undivided interest in the common elements
of, a condominium project known as:
THE RATCLIFFE CONDOMINIUM
(Name of Condominium Project)
(the "Condominium Project"). If the owners association or other entity which acts for the
Condominium Project (the "Owners Association") holds title to property for the benefit or use
of its members or shareholders, the Property also includes Borrower's interest in the Owners
Association and the uses, proceeds and benefits of Borrower's interest.
CONDOMINIUM COVENANTS. In addition to the covenants and agreements made in the
Security Instrument. Borrower and Lender further covenant and agree as follows:
A. Condominium Obligations. Borrower shall perform all of Borrower's obligations under
the Condominium Project's Constituent Documents. The "Constituent Documents" are the: (i)
Declaration or any other document which creates the Condominium Project; (ii) by-laws; (iii)
code of regulations; and (iv) other equivalent documents. Borrower shall promptly pay, when
due. all dues and assessments imposed pursuant to the Constituent Documents.
B. Property 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 (including
deductible levels), for the periods, and against loss by fire, hazards included within the term
"extended coverage," and any other hazards, including, but not limited to, earthquakes and
floods, from which Lender requires insurance, then: (i) Lender waives the provision in
saxxx1321 MC=O.321
MULTISTATE CONDOMINIUM RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM
INSTRUMENT
Form 3140 1/01
Wolters Kluwer Financial Services
!11247010420361321 !
VMPx-8R (0810)
Page 1 of 3 Initials:
CONFIDENTIAL
SDNY_GM_00031350
EFTA_00 I 41963
EFTA01280063

Section 3 for the Periodic Payment to Lender of the yearly premium installments for property
insurance on the Property: and (ii) Borrower's obligation under Section 5 to maintain property
insurance coverage on the Property is deemed satisfied to the extent that the required
coverage is provided by the Owners Association policy.
What Lender requires as a condition of this waiver can change during the term of the
loan.
Borrower shall give Lender prompt notice of any lapse in required property insurance
coverage provided by the master or blanket policy.
In the event of a distribution of property insurance proceeds in lieu 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, whether or not then due, with the excess, if
any, paid to Borrower.
C. Public Liability Insurance. Borrower 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 damages, direct or
consequential. payable to Borrower in connection with any condemnation or other taking of all
or any 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 to Lender. Such
proceeds shall be applied by Lender to the sums secured by the Security Instrument as
provided in Section 11.
E Lender's Prior Consent. Borrower shall not, except after notice to Lender and with
Lender's prior written consent, either partition or subdivide the Property or consent to: (i) the
abandonment or termination of the Condominium Project, except for abandonment or
termination required by law in the case of substantial destruction by fire or other casualty or
in the case of a taking by condemnation or eminent domain: (ii) any amendment to any
provision of the Constituent Documents if the provision is for the express benefit of Lender;
(iii) termination of professional management and assumption of self-management of the
Owners Association; or (iv) any action which would have the effect of rendering the public
liability insurance coverage maintained by the Owners Association unacceptable to Lender.
F. Remedies. If Borrower 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 additional debt of Borrower secured by the Security Instrument. Unless Borrower and
Lender agree to other terms of payment, these amounts shall bear interest from the date of
disbursement at the Note rate and shall be payable, with interest, upon notice from Lender to
Borrower requesting payment.
MULTISTATE CONDOMINIUM RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM
INSTRUM ENT
VMPx-8R (0810) Page 2 of 3 Initials: Form 3140 1/01
CONFIDENTIAL
SDNY_GM_00031351
EFTA 00141964
EFTA01280064

BY SIGNING BELOW, Borrower accepts and agrees to the terms and covenants contained
in this Condominium Rider.
(Seal) (Seal)
See Signature Page -Borrower -Borrower
Attachment - Security
Instrument - Inter Vivos
Revocable Trust
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
(Seal) (Seal)
-Borrower -Borrower
MULTISTATE CONDOMINIUM RIDER - Single Family - Fannie Mae/Freddie Mac UNIFORM
INSTRUMENT Form 3140 1/01
VMP•x-8R (0810) Page 3 of 3
CONFIDENTIAL
SDNY_GM_00031352
EFTA_00 I 41965
EFTA01280065