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<br /> 0020028051 =�'-``
<br /> , .�.� .. , .� C.
<br />=:"'.�=-�:� - CONDOMINIUM RIDER
<br /> f��-=
<br /> �.._�
<br /> _-- — THIS CONDOMINIUM RIDER is madc this 15TH day of DECEMBER • 1 997 •
<br /> �� � and is incorporatcd into and shull be deemed to amend and supplement the Mortgage, Dccd ot Trust or Sccurity
<br /> pecd (the "Security Instrument") of the same datc given by the undersigned (the "Borrawer") to sa:cure
<br />'`;..,,,r . :,..� Harrower's Notc�o The Equitable Building and Loan Association of Grand Island,
<br /> ; ;� ,��,;�.:. Nebraska� A Federal Savings Bank
<br /> ;�„= (the "L.ender")
<br />�� ''1°`'�'•' of the same date and coverin the Pm ert described in the Security Instrument and located at:
<br /> ,.,,..�..i►4.;,� S P Y
<br /> = �''!�-� 2821 I,AKEWUOD CIR
<br /> ���=°;F� GRAND ISLAND. NEBRASKA 65801
<br /> , .;
<br />-- ::.,.:;_
<br /> `".;::4.H4.; �Property Addrcss�
<br /> ,."� The Property includes u unit in, together with an undivided interest in the common elements of, a condominium
<br /> � project known as:
<br /> �� ' ��P �Namc i�f Condaminium ProjcctJ
<br /> (the "Condominium Project"). If the owners association or other entity whieh ucts for the Condominium Project
<br />-'-��,,,�.. � (the "Owners Assacintion") halds title to property for the benefit or use of its members or shareholders, the
<br /> "4*""" Propeny also includes Borrower's interest in the Owners Associution and the uses, proceeds and benefits of
<br />:�,.�,;, y:. Borrower's interest.
<br />- ? ('nNDOMINIiJM COVENANTS. In addition to thc covenants and agreements made in thc Security
<br /> �.`;�--`..;�,�.•�. •
<br /> .:,.,..,.,• Instrument,Borrower and Lender further covenant and agree es follows:
<br />- . �r-'•�-� A. Condonilnium Obligations. Borrowcr shall perform ull of Borrower's obligations under the
<br /> ' = �•.:% Condominium Project's Constituent Documents. The "Constituent Documents" are the: (i)Declaration or any
<br />,:� �.�»'�+• other document which creates the Condominium Project; (ii) by-laws; (iii) code of regulations;nnd (iv) other
<br />-__.,::; , equivalent documents. Borrower shall prompdy pay,when due, all dues and ussessments imposed pursuant to the
<br /> �°•'�%=%�'`�'" Constituent Documents.
<br /> .�-.'„•• . .-:
<br /> j-��
<br />-_- - ��* B. Hezard Insuranee. So long as the Owners Association maintains, with a gener y uccept msurartce
<br /> -',,,.,r
<br /> ' � carrier, a "master" or "blanket" policy on the Condominium Project which is satisfactory to Lender and which
<br /> ':••�,r:-r.:.w.
<br /> , , provides insurance cuverage in the amounts, for the periods,and ugainst the huzards Lcnder requires, including
<br /> ;�.__.i;,,.,;y fire and hnzards includcd within the tcrm"extcnded coverage,"then:
<br /> "�-k�_::���.:+�. (i) l.ender waives the provision in Uniform Covenant 2 for the monthly payment to Lender of the
<br /> °�`"�"� yearly premium installments for hacard insurance on the Property;and
<br /> -;::n,�u�_'�i�
<br /> -�;�, ;��,.r��� (ii) Borrower's obligation under Uniform Covenant 5 to maintuin hazerd insurance coverage on the
<br />����� Property is dcQmed sntis6ed to the extent that the required coverage is provided by tht Owners Association
<br />_ � policy. �
<br /> � • , Borro Her shall givc i.ender prompt notice of any lapse in required hazard insurance coverase.
<br /> ���.�.....� �° In the event of a distribution of hazard insurnnce proceeds in lieu of restorution or repair following a loss to
<br /> = �`�� L the Propercy, wheiher to the unit or to common elements, any proceeds payable to Borrower ure hereby assignat -
<br /> '..•:,:w�, :-:.
<br /> �i�,a:;,,,bL� and shall be paid to Lender for upplication to the sums secured by the Securiry Instrument, with any excess paid to
<br /> "�":"`°. . Borrower.
<br /> : ,Kf., w�. _
<br />•��' `' C. Publtc Liability Insurunce. Borrowcr shall tuke such actions as may be reasanable to insurc that the -
<br /> q�.w?
<br /> � �. Owners Associtttion maintains a public liubility insurance policy acceptable in form, amount, and extent of
<br /> � � covcragc to Lendcr.
<br /> �
<br /> MULTISTATE CONOOMINIUM RIDER•Singlo Family-Fannie MaelFreddie Mac UNIFORM INSTRUMENT Form 3740 9180 _
<br /> � •a 191091 VMP MOATOAGE FORMS 13�3129J-B 100�1800162t 749t -
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