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��14�77�� B. Pr��ae�y tnsurance. �o �ong as �he Qw ners Associatinn main�a�ns, w i�h a general[y ac�ep�ed �nsurance carrier, a "mas�er" or "b�anke�" policy insuring �he Property �vhich �s saf�sfactory �a Lend�r and wh�ch provides insurance cov�rage in �ne amoun�s �including deduc��b�e �eveIs}, fa� �he periods, and agains� Ioss by f�re, ha�ards incIud�d vv i�hin �h� �erm °'��ended coverag�," and any oth�r ha�ards, inc�uding, bu� no� [rm�fed to, ��rthquakes and floods, f�r�rvhich Lender requires �nsurance, fhen. ��} Lender wai�es �he pro�r�sion ir� Section 3 f�r �he Peri�d�c Paymenfi �a Lender �f �he year�y prem�um installmen�s for pr�per�y insuranc� on �h� Prop�r�y; and �ii} Borrow er's ab��ga�lon under Sec�ion 5 �o main�a�n property Ensurance coverage on �he Pr�p�r�y �s deemed sa�isfied �o �he ex�en� �ha� �he requ�red Govera�e �s pr�avided by the �w ners Assoc�atian paIicy. . 11Vh�� Lend�r requires as a cond��ion of fihis �v aiver can change during th� term of �he io�n. B�rrov�er shali give Lende� promp� na�ice of any �apse �n required prvperty �nsurance coverage pro��ded by fihe master or b[anket po�i�y. ln �he event of a C�ISfC`IbLi�i�n of proper�y insurance proce�ds in Iieu of restoration or repa�r fo�Iaw ing a �oss to fhe Proper�y, or �a c�mmon areas and facEli�ies of �he PUD, any proceeds payable to Bar�ro�r er are her�by assigned and shal� be paid �o L�nder� Lender shaII appiy fih� pro�eeds �o �he sums secured by �he Securrfiy lns�rumen�, vU he�rh�r ar no� then du�, w i�h �he excess, Ef any, paid �o Barrow er. �, Pub�ic Liab��ity lr�surance� Barrow er shali �ake such actions as may be reasonable to �nsure �ha� �he �w ners Ass�cia��on maintains a pubiic liabi�i�y insurance policy accep�ab�e in �orm, am�u�t, and ex��nfi of ��ve�age �a Lender. D. �ondem�at�on. Th� proceeds af any a�ar�d or claim f�r damages_, direct or cansequer��ial, payabi��o Borrow er in connec�ion �nr i�h any cor�d�mnat�on or ot�er taking of a1I ar any par� of �he PrQper�y nr �he comr�on areas and faci��t�es �f th� PLJD, or for any con�eyance ir� I�eu �f �and�mna�ion, are hereby ass�gn�d and sha�! b� paid �� L�nder. Such pro�eeds shall be appI�ed by L�nder to �he sums secured by �he Securi�y Ins�rumer�� as pro��ded in Sec�ion ��. E. Lend�r°s Privr �o�sent� Borrow er shall not, excep� after no�ice �o Lender and �rv ith Lender's prio� wri��n consen�, e��her par�i�ion or subdi�ide the P�aper�y or cansen� �o: �i} �he abandonment ar �e�mination of th� PUa, excep� far abandonmen� or '�erminati�n required by Iaw i� �rhe case of substan�iai destruction by fir� or o�her casua��y �r �n the �ase of a �aking by conder�-�na��on ar �minen� domain; �ii� any amer�dm�n� �� any prov�s�on of �he "'�ans��tuenfi Dflcumen�s'p �f fhe provis�fln is for �he express �en�fit of Lender; ��i} ��rrr�ina�ion of prafess�onaI r�anagemen� and assumpt��n of self-rr�anagemen� �f �he �v�r ners Associa�ia�; �� �i�r} any action �r h�ch �r ould ha�e �h� eff�c� af render�ng �he publiG Iia:bility insurance co��rage ma�n�a�ned by the flw ners Assocla�ion unaccep�able�o Lender. F. Rem�dies. If Borraw�r does not pay PUD dues and assessments vv hen due, then Lend�r may pay �hem. Any amounfis disburs�d by Lender under �h�s paragraph F shalI became addi�iona! deb� of Borrower s�cured by the Security Ins�rumen�. Un�ess BorravUer and Lender agree �o o�her ��rms of paymen�, �hese arnoun�s shaII bear interes� from th� da�e of d�sburs�ment a� �he No�e rafie and sha�l be payab�e, �nr��h �n�eresf, up�n n��ic� from L�nder �o Bo rro�rv er r�q u est i n g p ay m en t. 14-1�-��0�7 ��.1LT�SI�A�E PUD R�D�FZ- Single Fam��y - Far�r�i� �UI ael�'rec�di� M a � � � [iVS`f�LJI�ENT VM Pa�-�R��8'I�� F�age � af 3 lnitia�s� - �F�rm 3'!�� 'l1U'�