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��15�1154 B. Property Insuran�e. So �ang as the C�wners Assoc�ation ma�ntains, w�th a �enerally a�cepted insuran�e car�ie�, a "master" or "b�anket" policy insu��ng the Property which is satisfactory tv Lender and wh�ch pr��ides �nsurance co�erage in the amvunts 4inc[uding deduct��l� I��e�s}, for the p�r�ods, and against �oss by f�re, hazards inc[uded within the term "extended ca�erage," an� any vther hazards, inc�uding, but nvt limit�d t�, �arth�uak�s and flvads, for which Len�er r�quir�s �nsu�ance, th�n: �� Lender wa��es the p�o��sivn in Sect��n 3 for the Periodic Payment to Lender vf th� yearly premium installm�nts for property �nsurance on the Prop�rty; and �ii} Borrawer`s �b��ation under Sectian 5 to maintain p�operty insuran�� co�er�ge on tne Prvp�rty is deemed satisfied to the extent that the requir�d co�erage �s pr��i�ed by the 4wners Ass�ciati�n poliCy. Vllhat Lender requ�res as a condit�on of this wai�er �an chan�e during the term of the �van. Barrvw�r shall g��e Lender prvmpt nat�ce vf any lapse in �equired property insurance cfl��rage pro�ided by the master or blanket po��cy. ln th� ��nt af a distributian of pr�perty insurance prvc��ds in lieu of restoration vr �epair fa�lowing a Ivss to the Property, a� ta c�mman ar�as an� faci�it��s of the PUD, any proceeds payab�� t❑ Borr�w�r are hereby assigned and sha�l b� pa�d to L�nd�r. Lend�r shall apply the prac�eds to tl�e sums secured by the Security fnstrum�nt, whether or n�t then due, with the excess, �f any, paid to B�rrower. �. Pub�ic Liability �nsurance. Bar�awer shall take such actions as may be reas�nab�e t� insure t�at the �wners Assac�ation mainta�ns a public 1�ability insurance pc�licy acceptab�e in form, amaunt, and extent �f co�erage ta Lender, Q. Condemnation. The proceeds of any avvard or c�aim fa� damages, dire�t or cvnsequent�a�, paya��e to Borrower in cnnne�tion with any cvndemnation �r flther taking vf afl ar any part vf the Property or the c�mmvn areas and faciliti�s �f the PUD, vr for any can�eyanc� in lieu of cond�mnation, are hereby ass�gn�d anc� sha�! be pa�d tv Lender, Such prace�ds shall be app�ied by Lender tv the sums secured by tne Security �nstrument as pro�ided in Se�tian 1�. E. Lender's Pri�r Gonsent. Barr�wer sha[� not, �xcept after notic� to Lender and w�th Lender's priar written cansent, either partition or subdi�ide the �'raperty or consent to: �i} the abandonment or te�mination af the PUQ, except for abandonment ar termination r�qui�ed by law in the case of su�stantial d�struction by fire or ather casua�ty ar in the case �f a tak�ng �ay c�ndemnation or emin�nt domain; 4ii} any am�n�ment to any pro�ision of the "Canstituent docu�nents" if the pr��s�on is for the �'.X�JC�55 �a�nefit of Lend�r; 4iii� termination af prQfessivnal management and assumption of se�fwmanagement �f the �wners Associat�on; vr �i�} any activn which wou[d ha�e the effect vf ��nde��ng the pub�ic ��abi��ty insuranGe ca�erage mainta�ned by the C�wners Assaciati�n unacceptable tv Lender. F. Remedies. �f Borrower dves not pay PUD dues and assessm�nts when du�, then Lender may pay them. Any am�unts disbu�sed by Lender under tF��s parag�aph F shall bec�me addit�anal debt of Borrvwer secured by the Security �nstrument. Un�ess B�rr�wer and Lender agree to other terms �f payment, these amounts sha�� bear interest from the date �f � dis�aursement at th� N�te rate and shall be payabl�, with �nterest, upvn notice frvm Lender ta B�rrow�r requesting payment. MULT�STATE PUD RIDER - Sing�e Fami�y � Fannie MaelFr�ddie M c u�VIFURM ��VSTRU11J1ENT VN�P�-7R �D�� } Page � of 3 Initia�s: � j\ Form 3'i5� 'Il�'1 :�.."