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2o�2o3s7� wbich provides insurance caverage in the amounts (including deductt'ble leve�s), for the periods, and against lass by fire, hazards included within the teLm "extended covezage," and a�� other hazards, including, but not limitefl w, earthquakes and floods, for which Lender requires insurance, then: (i) I.ender waives the pmvision in Secrion 3 for the Periodic Payment to Lender of the yearly premium. installments for property insvrance on the Propetty; and (ii} Borrower's obli.gation uader Sscti.on 5 to maintain property insurance coverage on tb.e Propezty is deemed satisfied to the extent that the required coverage is provided by the Owners Association policy. What LeAder requires as a condition of this waiver can change dutixzg the term of the loan. Borrower shall give Lender prompt notic� of any lapse in required property ins�ance coverage providefl by txze master or blanket paiicy. In the event of a distribution of pzoperty insurance proceeds in lieu of r�toration or repair following a loss to tha Property, or to common areac and facilities of ihe PUD, any proc�eds payable to Bonower aze ltereby assigned and shall be paid to I ender. Le�a�der shall apply the proc.eeds to the sums secured. by the Secvrity Tnstr�ent, whether or not then due, with the excess, if any, paid to Borrower. C. Public Liability Insurance. Borrower shall take sach actions as may be reasonable to insure that the Ownezs A.ssociation mainrains a public liab�lity ins�u�ance policy a�eptable in form, amovnt, aad extent of coverage to T.ender. D. Condemnat[on. The proceeds of any awazd or claim for datnages, direct or coasequential, payable to Boirowez 'vn co�tion with any condemnation or ather talang of all or arry part of the Pnoperty or the common areas and facilities of the PUD, or for arry comeyance im lieu of condemnation, are hereby assigned and shall be paid to Lznder. Such proc�ds sha1l be�pplied by Lender to the sums secured hy tha Security Instr�menf as provided. in Section 1 L E. Lender's Prior Consent. Bonower shall not, except after notice ta Lender and with Lender's prior written consent, either partition or subciivide the Properly or consent to: {i) the abaadonment or termination of the PUD, exc�pt for abandonmeat or termination required by law in. the case of substantial destruction by fire or other casnalty or in �e case of a tatdng by condemnation or e*n�n�t domain; (ri) any amendment to auy pzovision of the "Constituent Docume�ts° if the provisian is for the express benefit of Lendez; (iii) termination of professional management and assumptien of self management of the Owners Associatian; or (iv) any action which wot�d haee tlie effecf of rendering ttie public liab�ity �nc�man� coverage maintained by the Ownecs Association unac;ceptable to L$ntler. F. Remedies. If Borrower does not pay PUD dnes and assessmems whendne, then Lendernnaypay them. Any amounts disbursed by Lender uuder thzs ParagraPh F shall b�ome addirional debt of Borrower secured by the Security Instrument. Unless Borrower and Lender agree to other te�s of payment, these amounts shall bear i�erest from the date of disbursement at the Note rate and shall be gayable, with interest, upon noteoe from Le�tder to Borrower rec�uesting payme�. MULTfSTATE PUD RtDER—Stngle Famfly Fannie Mae/Freddie Mac UNIFOFiM INSTRUMEM' Form 3150 �ll01 Paa of 3 OoGHaglc � www.dcrn�aglc.mm u�uo.�e.�