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��15��13� B. P�ope�ty ln�urance. Sa long as the C]wners Associat�vn ma�ntains, with a �en�raffy accept�d insurance carrier, a trCT��St�C�r �r "�fanket" p�licy insuring the Prop�rty which is sat'rsfac�ary to Lender and which pro�ides insurance cv�erage in the amaunts �inc�uding d��uctible I��efs�, for the periods, and a�ainst �vss �ay fire, hazards included within th� term "e�tended co�erage," and any vther h�zardS, including, but n�t lim�ted t�, earthquakes and fl�ads, for whi�h Lend�r �-equires 'rnsurance, t�en: {i} Len�ler wai�es the p�v�is��n in Sect�an 3 f�r the Periadic Payment to Lender vf t�e yearly premium insta��ments for pr�perty �nsurance an th� Property; and �ii� Bvrrower's vb[i�ativn und�r Sect�vn a to maintain property insurance co�erage on the Praperty is d��rn�d satisfied to the extent that ths requir�d co��rage is pro�ided hy the Owners Ass�ciatian poi�cy, Vllhat Lend�r rec�ui�es as a co�dit��n of this wa'r�er can change durin� the term of the laan. Bvrrawer sha�� gi�e Lender pram�t natice of any lapse in requir�d property insurance c��erage p�o�ided by the master or blanket po�icy. In the ��ent af a �istr�buti�n o� pro�erty insurance praceeds in l�eu of restoratian or repair faf�owing a Ioss to the P�operty, or t� comman areas and facilities ❑f the PUD, any prac��ds payable to Borrower are hereby ass�gned and sha�l be paid to Len�er. Len�er sha�i apply the pr�ce�ds to the sums secured by the Secur�ty I nstrument, whether vr nat th�n du�, with the excess, if any, paid to Bvrrower. C. Public Liahility tnsurance. 6�rrawer sha�� take such activns as may 1�� reasc�nabl� ta insure that tne �wners Associat�on mainta�ns a public ��abil�ty insuran�� p�licy acceptabl� in farm, amount, and extent �f ca�erage to Lender. D. �ondemnat�c�n. The praceeds af ar�y award �r cla�m f�r damages, di�ect �� consequentiaf, payable tv garrower in connectinn with any condemnat�vn ar vther tak�ng ❑f al� ar any part vf tne Praperty or the commnn a�eas and facilities of the PUD, ar for any con�eyan�e in [ieu of c�ndemnati�n, are he�e�y assigned and sh�{I b� paid ta Lend�r. Such prviceeds sha�! be appl�ed by Lender to the su�s secured by the Secu�ity Instrument as prv��d�d in Section ��. E. Lender's Pr��r Cvnsent. Ba�rvwer shall not, except after natice t❑ Lend�r and with Lend��'s privr written �onsent, either �artit�an ar su�di�ide the Prvpe�ty or cans�nt to: �i� the abandonment �r terminat�vn af the PUD, except far abandvnment or t�rmination required by �aw in the case of substantial destruction by fi�e or �ther casua�ty �� in th� case of a takin� by condemnati�n or eminent domain; �ii} any amendm�nt tfl any pr��ision �f the "�anstituent Documents" if the pro��sion is f�r the �xpr�ss b�n�fit af Lender; �iii} terminatian �f pr�fessional m�nagement and assumpti�n �f s�lf-managem�nt �f the �wners Associat�on; or ti�} any acti�n which wou[d ha�e the effect of rendering the public liabi��ty insurance co�erage ma�ntained by the Uwners Associat�on unacceptab�e to Lend��-. F. Remedies, lf Ba��wer daes not pay PUD du�s and assessments when due, then Lender may pay them. Any amounts disbursed by L�nder under this pa�agraph F sha�� became additiona! debt of Borrow�r secured by the S�cur�ty �nstrument. Unless Bvrrower and Lender agree to other terms �f payment, these amounts sha�� bear i�terest from the date of disbursement at the Note �ate and shal� be payable, with interest, u�ar� n�tice from Lender to Borrower request�ng payment. MULTISTATE PUD RIDER - S�ngle Family - Fannie Ma�1Fr�ddie Niac NIFD�M 1NSTRLlN�EIVT VMP�-7R ��$1 �} Page 2 ❑f 3 In'rtials: Form 3'!5� 'I ID� ��