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��15���39 <br /> B= Proper�y Insurance. So lang as �he D�rr��rs Ass�cia�ion ma�nfiarns, vtiri�h a generaCly <br /> a�cep�ed insur�n�e carrier, a "master" ar "bIanket" palicy �nsur�ng �h� Prop�r�y `nrhi�h is <br /> sa�isfa��ary �o Lender and w hich pra�ides insurance cover�g� �n the amounts �including <br /> dedu��ible IeveIs}, f�r the periods, and ag�inst [oss by fire, hazards includ�d w��h�n �he term <br /> "ex��nded cov�r�ge," and any o�he� hazards, inc�uding, but no� �imi�ed fio, ear�hquakes and <br /> flaods, for w hich Lender requires �nsurance, th�n: �i} Lender v�r ai��s the provis�on in Sec�inn 3 <br /> f�r �he P�riodic Paym�n� to Lender af the yearly premium instal�men�s for p�roper�y insuranc� <br /> on �he P�oper�y; and �ii} S�rrov�r�r's obliga�ian under Sec�ivn � to mainfarn proper�y insurance <br /> coverage o� �he Proper�y �s deemed sa��sfied �o �h� e�c�en� �haf �he requ�red �o�erage is <br /> pr�vided by the �wners Association po��c�a <br /> VVha� Le�der r�quires as a conditio� of �h�s wa�ver can �hang� duri�g ��� �ernn of th� <br /> loan. <br /> �3arrovver shali give L�nder promp� notic� of any lapse �n required pr�per��r insurar�ce <br /> coverag� p�fl�id�d by �he m�s�er or bIanke� poi�cy. <br /> ln �he �ven� of a dEs�ribution af p�oper�y insu�ance proceeds �n ��eu of res�ora��on or <br /> repair fo��o�nr ing a loss �o the Praper�y, or �o ��mm�n areas and fac��ities of the PUD, any <br /> pro�eeds payab�e �o �orrow er are hereby assigned and sna�l be paEd �a Lender. L�nde� shali <br /> appiy �he praceeds to #he sums secured by the Secur��y [ns�rum�nt, �v he�her or no� then due, <br /> r�v i�h �h� excess, if any, paid to Borra�r er. <br /> �� �u�l�c Liab���ty �nsuranc.eR Bor�ovv er shall �ake such ac��ons as �ay b� re�sonabie �o <br /> insure �ha� �he �v�rners AssoG�a��on maEr��ains � p�b�ic liab����y �nsurar��e policy accep�ab�e �n <br /> form, am�un�, and e�c�en� �f coverage to Lender. <br /> D, �vndem�at�on. The proceeds of any avvard or cIaim for damages, d�r�c� �r <br /> consequen�ial, payab�� t� B�rraw er �n connec��on w i�h any condemn��ion or vther taking of a�I <br /> o� ar�y par� of �he Pr�p�r�y �r �he comm�n areas and faciliti�s of �he PLJD, o� fo� any <br /> �on�eyance in Iieu of cond�rnna�ion, are hereby ass�gned and shall be paid ta Lender. Su�h <br /> proceeds shall be a�pl�ed by Lender �� the sums secur�d by fihe Securifiy [ns�rument as <br /> pro�ided �n Se��ion �'�. <br /> fE, 1Lender's Pr��r Canse�fi. Borro�rv er shall r���, e�ccep� after �o�i�e ta Lender and �i�h <br /> Lender�s priar w ritt�r� c�nsen�, ei�her �ar�i��on vr �ubdi��de �he Prflp�r�y or co�sent �oe �p� �he <br /> a�andonmen� or ���mir�at�on of �he ��J�, ���ep� f�r aba:ndonmen� or �er�n�na��on required b� <br /> lav� �n �he case af subs�an�ial des�ru��l�n br� f��� or ��her casual�y or �r� �h� c�se af � �ak�ng <br /> by condemnat��n or �mine�t domain; ���� any am�nd�nent �o any pro�isiar� �f �he °'Cons���ue�� <br /> D�cumen�s" if fhe prov�sion �s far �he express benef�� of Lende�; �iii} t�rmination of <br /> profess�onal managemenf and assump�ion of s�If-mapagemen� of �h� �w ners Assoc�a��an; or <br /> ��v} any ac�ion which wouId have �he effec� of rendering fhe publi� iiabiiity insurance co�erage <br /> main�ained by the �w n�rs Associati�n unaccepta��e fi� L�nder. <br /> F. R�medie�. lf E�orraw er does no� pay PLJ� du�s and assessrnen�s �hen due, �hen <br /> Lend�r ra�ay pay them. Any amoun�s disbur�sed �y Ler�d�r under �hi� paragrap� F�haII �ecar�� <br /> addifi�ana� deb� �f Borro�er secured by �h� S��uri�y I�s�rument. lJnfess �orrotir�rer and Lender <br /> agre� t� other �e��s of p�ymen�, these am�u��� sha�1 bear �n�eres� frorr� the d�te �f <br /> d�sburser�nen� a� �he Note r�a�e and shalI b� pay�ble, v�r��h in�erest, �pon no��c� ��or� Ler�d��- �o <br /> Bo rrow er �-eq u es��n g p ay m en�. <br /> 14-1�--DO�D�3 <br /> ��3LT��TATE PLID R�DE�- Single Fam��y - Fanni� IIJt ae]'Freddie Mac LD��F�FZM INS�'R1U1Vi ENT <br /> 1lM Pa-�'R�D8'i'�} Page 2 af 3 lnitia�s: � Farm 3'I 5� 'I 1�'� <br /> � <br />