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��15�1455 Bn Pr�p�r�y In��r�r��s �� long a� th� ��n�rs Assaciatian main�ains, w��h a gen��al�y accep�ed �nsur�nce ca�r�e�, a "mas�er" or "bfank�t" p��icy insuring �he Properfy which is . safiisfacfi�ry �o L�nder and which pr�vEdes insuranc� cover�ge �n the amnunfis �incfudin� deductible levefs}, for the p�rEods, and against �oss by f�r�, ha��rds `rncluded wi�hin fh� �e�m "ex�ended ca��age," and any other ha�ards, including, bu� no� limi�ed �o, earfhquakes �nd �I�ods, �or �vhick� Lende� requi��s insurance, fih�ne �i} Lender waives the provisi�n in Section 3 or � e ��r�o ic Paymen� �o Lender of the year y prem�um ins�allmenfis for proper�y �nsurance on fhe Proper�y; �nd �ii} Borro�rer's ablig�tion ur��er Se��ion 5 to main�ain pr�oper�� insurance co�rerage on fhe Praper�y is d�emed satis�'ied �o �he exfien� fiha� the requ�red cove�age is pro�r�ded by �he �w ners Asso�i�tion policy. 1N�a� Lender requir�s �s a �ondifi�on of �h�s �aiver can change during �he �:erm o� the �oan. Borrov�r�r �ha�f give Lender prompf notice of any lapse in required prope��y insurance coverage proVEded by the mas�er or blankefi po[icy. In fh� �ven� of a distr�bu�ion af pro�er�y insurance �ro�eed� in l�eu o� restoration or repa�r �roilowing a loss �a �he Property, ar f� comm�n a�eas an� �acilitie� �� he PIJD, any pr�oce�d� payable �o Borrawer are hereby a�s�gned and shaif be paid f� Lender, Lende� shafl appfy the proce�ds fio .the �ums secured by �he Securifiy Ir�strument, w he�her o� not �h�n due, w ifi� �he excess, if any, paid #o Sorrorrv er. �. Pu��lic L.ia�'rli�y In�u�ranc�. So�row�r sha�l �ake such acfiions as may b� reasonable �a insu�e �hat fhe �w ners AssoGia�ion maEntain� a public liabil��y Ensurance po[icy accep��bEe in �orm, amoun�, and exfen� of �overage fio L�nder. D. Con�en�na�ion. T�he proceeds o� any award or claim for damages, direc� or consequ�n�i�l, payable �o C�orrow er in connecfiion w�th any condemnafion �r a�her tak�ng af al[ ar any part �� h� Property or ihe comm�n areas and faci[ities o� �he PUC], or �or any ��nveyance �n lie�a �f con�emnation, are hereby �ssigned and shall be paid �o L�nde�. Such pro�eeds shaL[ be applied by Lender �o �he sums se�ured by the Securi�y [nstrumenfi as pra�rided in SeGt��n ��. E. L�nder'� f��r �on�en�. �orro�rve� sha[I na�, except af�er no�ice �o L�nder� and w��h Lender's priar �r�i��en consen�, eifi�er par�ifiion ar subdivide fihe Pr�perty o� cans�nt fo: �i} fihe abandonmen� ar ��rmina��on o� the PUD, excep� for aband�nm�n� or termina�ion requ�red by law in fhe case o� subs�an�ial desfiruc�ian by fire ar ��her casual�y or in �he case of a �ak�ng by condemnafiian or eminen� domain, �ii} any �mendment �o any �ro�v�sion a� fihe "�onstifuenfi Documents" if �he provision is f�r �he expr�ss b�nefi� of Lend�r; �E�i} termin��ion �f professional managemen� and assump�ion of sel�-management of �he Dw ners Ass�c�ation; ar ��v} any actian w hich w ould hav� the effect a�' rende�ing fih� pub�ic �iabili�y �nsuranc� cov�rage main�ained by �he ��v n�rs �issoc�a�i�n unaccep�able �� Lendero F. Remedi��. If Borr�wer does no� p�y PlJC� dues and a�se��mer��s �rh�r� due, then Lender may pay �h�m. Any amoun�s �isbursed by Lender �ander th�s pa�agra�h F sha�� b�come addt�ion�l deb� o� �or�rower �ecured by fihe Securi�y Ins�rumen�. Unless ��rowe� and L�nd�r agree �� o�her terms o� paym�n�, these amaunts shail bear �nterest from the da�e �f d�sburs�ment at the Nate rate and shall b� payab�e, w��h inter�s�, upon n.o�ice from Lender �o Borr�virer reques�ing �aymen�. �.5-0�.��0 D 0�.�. M ULT'ISTAT'� PU� �11�ER� Single F�m�`ly � Fannie �1 aelFre�dNe Illl�c �1NMF��M IN�TRU�I�I ENT' VM P��7� ��8��} Pag� � af � Initials: Forr�n 31�� '�C��[ _ _