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20i20326; included within the term "extended coverage," and any other hazards, includ9ng, but not limited to, earthquakes and floods, from which Lender requires insurance, then: (i) Lender waives the provision in Secflon 3 for the Periodic Payment to Lender of the yearly premium installments for property insurance on the Property; and (ii) Borrower's obligaHon 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 pollcy. In the event of a distrlbution of property insurance proceeds in lieu of restoraflon 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 Securlty Instrument, whether or not then due, with the excess, if any, paid to Borrower. C. Pablic Liability Insuranca. Borrower shall take such acflons as may be reasonable to insure that the Owners Association maintains a public Hability 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 Securlty Instrument as provided in Section 11. E. Leader's Prior Consent. Borrower shall not, except after notice to Lender and with Lender's prlor written consent, either partition or subdivide the Property or consent to: (i) the abandonrnent or terniination of the Condominium Project, except for abandonment or termination required by law in the case of substanHal destrucflon 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 assumpHon 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 Associaflon unacceptable to Lender. MULTISTATECONDOMII�itUMRIDER-slogleFamuy-FmnieMadFreddieMaaUlaFORMnvsTRi1MENT � 3 40� Ol (�3140 (0008) (Page 2 of3) Initials: