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��14�7157 <br /> �ect�vn 3 fvr the Periodic Payment ta Lender af the yearly premium installments f�r praperty <br /> insurance vn the Property; and ��i} B�rr�wer's obligat�on under Secti�n 5 tfl ma�ntain prv�ae�-ty <br /> in�uranGe cv�erage an the Praperty is d�emed satisfied to the extent that the r�quirec� <br /> co�erage is p�o�ided �y the �wners Associat�an po�icy. <br /> INhat Lender re�uires as a canditivn c�f this wai�er can change du�ing the te�-m vf the <br /> ��an. <br /> Borr�w�r sh��� g��e Lender prompt notice of any �apse in required ��v�erty insuranc� <br /> c��erag� pr��ided by th� master vr blanket �oficy, <br /> [n the event af a distri�ut�on of praperty insurance p�a�eeds in lieu �f restoration ar <br /> �epair follawing a �vss t� the P�vperty, whetner tv the unit ar to comm�n e�ements, any <br /> pr�ceeds payable ta Bvrrower are here�y assigned and sha1� be paid tv Lender f�r app�icati�n <br /> ta the sums secu�ed by the Security Instrument, wh�ther or not th�n du�, with the excess, if <br /> any, pai� to Bor�ower. <br /> �. Pub�ic Liability InsuranCe. Sflrr�we� sha�� tak� such actians as may be reas�nable to <br /> insure that the �wners Assoc�atian maintains a public liability �nsurance policy acceptable in <br /> form, amvunt, and extent af ca�erage t� Lender. <br /> D. �ondemnation. The proceeds of any award or claim for damages, d�rect or <br /> consequential, payable to Bvrrvwer in conn�ction with any condemnation ar other taking vf a�� <br /> vr any pa�t flf the �'raperty, whether of the unit or �f the common e(ements, or for any <br /> c�n�eyance in ��eu ❑f candemnation, ar� hereby assigned and sha11 be pa�d t� Lender. Su�h <br /> pracee�s sha�! be appiied by Lender tv the sums secure� by the Security lnstrument as <br /> pro�ided in Section 11. <br /> E. Lender's Prinr �onsent. Borrvwer sha{I n�t, except aft�r nvt�ce to Lender and with <br /> Lender's pri�r w�itt�n cansent, e�ther partition vr subdi�ide the Property ar consent to: 4�} th� <br /> abandanment or termination of th� Candominium Project, except for abandonment o�- <br /> terminatian required by law in the case of substantial destruction by fire or other casualty or <br /> in the Cc�S� of a takin� �ay condemnation or eminent domain; �ii} any amendment to any <br /> pro�isi�n af the Canst�tuent Documents if the pro��s�on is for the express benefit af Lender; <br /> �iii} terminativn af prvfessional mana�ement and assumptian ❑f se�f-management af the <br /> �wners Ass�ciatian; or �i�� any acti�n wh�ch wauld na�e the effe�t of rendering th� pubiic <br /> liability insuranc� c���rage maintained �y the �wners Assv�iation unacceptabl� t� Lender. <br /> F. Remed�es. If Bvrrower dves n�t pay cvndamin"rum dues and assessm�nts when due, <br /> then Lender may pay th�m. Any amvunts disbursed by Lender under this parag�-aph F sha�l <br /> bec€�me additi�na� debt �f Bor��wer seCured by the Security �nstrument. Unless Sorrow�r and <br /> Lender a�ree to �ther t�rms af payment, these amaunts sha�� bea� ints�est fram the date of <br /> disF�ursement at the Nvte rate and shall be �ayab�e, with interest, upon notice f�om Lender t� <br /> 8o�rower request�ng payment. <br /> MULT�STATE C�ND�M�N�UNi R�DER - Single Family -- Fannie N�aelFreddie Mac UN�F��N� <br /> INSTRUNiENT '� <br /> VM�'�wBR ��S��} Page 2 of 3 �nitials; Farm 3�4� �IU1 <br />