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��14�S�1S �. Proper�� nsur�r�ce. So 1or�g as �h� �w ne�s Associa�ion maint�ins, w��h a g�n�raIly accepted insuran�e carr�e�, a "master" or "blank��" poIi�y insu�ing �he Pr�per�y vi�hich is sa�isfactory �o L�nd�r and �h�ch pr�rrides �nsurance coverage �n �he amoun�s �inc�ud�ng deducti�le �eve[s}, for th� periods, and ag�ins� �oss by frre, ha�ards �nc�uded �r ithin the �erm "�xt�nded cavera�e," and a_ny o�her hazards, �ncIud�ng, bu� nofi [�mited �o, earthquakes and f�oods, for �vh�ch Lend�r �equir�s fnsurance, �hen: �i} Lender �raives the pro�isian in Secti�n 3 for �he Period�c Paymen� to L�nde� of the yearly premium ins�allmenfis for proper�y insuranc� on �rhe Prope�y; and �ii} Borr�w�r's obliga�ion under Sec�ian � �o main�a[n p�ope��y insurance c�ve�-age on �he Property is deemed sat�sfied to �he ex�ent �na� �he required c�verage is prov�ded by fih� �w ners AssocEation paIic�. Vl�ha� Lend�r requires as a condi�ior� of �his v�rai�er �an change during th� term of the f oan. Borrow�r shalI g�ve Lender pr�mpt noti�e af any I�ps� `rn r�quired property insurance c��erage provided by the masf�r ar blanke� po��cy. �n �he e�ent of a dis�ribu��on of proper'�y Insurance pr�c�eds �n lieu of re.5tora��on or repair foIlo�rving a [oss �o �he Praper�y, ar �� cammon a�eas and facilities �f �he PUD, any proceeds payable t� Borrovv e� are hereby assi�ned and sha1� be paid '�a Lender. Lender shall app�y �he pr�ceeds ta '�he sums secured by the Securi�y Ins�rumen�, �rh�ther or not �hen due, w��h the excess, if any, paid �o Borrower. �. Pu�Iic Li�abiI�ty Insuran�e. Barrow�� shaII �ake su�h actians as may b� reasona��e fo jnsure tha� the ��r ners Associa�ion mainfia�ns a publ�c Ilabili�y insuran�e policy accepta�le �n farrr�, amount, and ex�en� of c�verage �o Lender. D: �ondemnaf�v�. The p�oce�ds of any a�nr ard ar cl�irr� far damages, direc� or consequential; payabl��o Borrov�r er in conne�tion w i�h any condemna��n or o�her fiaking of a�E or a�y par� of fihe Proper�y �r th� comman areas and faci�i��es af �he PUD, or for any conveyanc� In lieu af condemnafian, are hereby assigned and sha�� be paid ta Lende�. Such p�oceeds shaII b� applied by Lender to fhe sums secur�ed by �ne Security l�s�rumen� as pro�ided in Se��n '�'I. E. L�nder's Prior Cans�n�. Borrow er shaII no�, except af�er no�ic� �o Lender and w ith Lender's pr�or wri��en cansen�, e��her par�i�ion �r su�di�ide �he Pr�perty ar consent �o: �i} the abandonmen� or �erminat�on af �he �UD, �xce�� for abandonmen� or t�rm�nati�n required by Iaw ln the case of su�s�an��al desfruc�ion by f�re or other casua�ty or �n the c�se of a �aking by cond�mnat�o� or emir��n� dom�in; �ii} ar�y amendm�r�� o any pro�ision of �he "�onstituen� Documents" if fihe pro�ision �� for the express ��n�fifi of Lender; ��ii} �ermina�lon �f p�ofess��na� man�g�m�n� and assump�ion of s�lf-managemenf of the �wn�rs Assaczat��n� o� �iv} any ac�ian �r hich w oul� have �he effect af rendering the �ubIic liabi�i�y �nsuranGe co�e�age ma�n�ained by �he ��ners Associa�ion unaccep�ab�e �o Lend�r. F. F�emed�es. If Borr�wer daes not pay PUD dues and ass�ssmenfis when due, �hen Lender may pay them. Any amounfs disbursed by Lend�r under �his paragraph F shai! became addi��onaI deb� of Borro�er secured by �he �ecurify �ns�rum�n�. UnIess Bor�ow er and Lend�r agree �o o�her �erms of paymen�, these amoun�s shaIl bear in�eres� fr�om �he da�e of disbursemen� afi �he No�e ra�e and sha[� �e paya�l�, �rsr i�h in�eres�, upon �o�ice from L�r��er �o Ba rrow er req u es�i n g p ay rri en�. 14-�l�0000�1 M�LT�STATE PLJD ��]IE�- Sing�e Farp��y - �annie M a�IFredd[ie M ac L1�1F�F2�lI iNST�llNI E11�T' VM P��`��8'�'i} Page � of 3 �n i�ials: Form �'�5a '�I�'� Y