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��15�1�9� B. Pr�perty Insurance. S� lang as the Dwners Associat�on maintains, w�th a �ene�ally ac�epted �nsurance car��er, a 'tmaster" or "blanket" po��cy insu�-ing tne Property which is satisfact�ry tv Len�er and which pra�ides insurance c��erage in the amaunts ��ncluding deductible le�e[s3, for the pe�iads, and against Ioss by fi�-e, haza�ds inclu�ed within the term "extended �o��rage," and any other hazards, inc[uding, �aut nat ��mited to, earthquakes and f��ads, f�r which Lender requires insuranc�, then; ti� Lender wa��es the provision �n Section 3 f�r the P�r�odic Payment tv L�nder of the y�ar�y premium installments far pr��aerty insurance an the Property; and {ii} Borrawer's ab�igatio� under Sectivn 5 tv maintain �r�perty �nsurance cv�erage on the Prope�ty is deemed sat�sfi�d to the �xtent that the required cv�erage is pra�ided by the �wners Assflciatifln po�icy. V1lhat Lender r�quires as a condition af this wai�er can change during the term of the I�d�r. Bo�rvv►�er shal! g��e Lender prampt n�tice of any lapse in requiret� property insu�anc� co�erage prouic�ed by the master ar blanket policy. �n the e�ent of a distributivn of prope�ty insurance prac�eds in 1i�u �f restorat�an �r repair �o�towing a I�ss ta the P'r�pe�ty, or� t� co�r�� `�I�� f t�� PUD, ��y prviceeds pa}�able ta Sarrower are here�y assign�d and sha�f be paid ta Lender, Lender shall app�y the proceeds t� tt�e sums secured by the Security �nstrument, whether or nat then due, vvith tne �xcess, if any� paid t� Bvrr�wer. C. Pu��c Liabi��y Insurance. Barrvwer sha�� take such actions as may �ae reasonab�e to in�ure that the �wne�s Assoc�ation ma�ntains a pub�ic ��ability insurance po�icy a�cepta�ale in f�rm, am�unt, and extent of co�erage ta Lender. D. G�ndemnat�on. The proceeds of any awa�d vr claim f�r darnages, direct ar cansequential, payable ta Borrawer �n conne�tivn w�th any candemnativn or other taking t�f a�l vr ar�y part �f the Property vr the c�mman areas ar►d fac�lities of the PUD, vr f�r any c�n�eyance in li�u of condemnatian, are hereby assigned and shall be paid to Lender. 5uch praceeds shal� be applied ay Lender to the sums secured by the Security fnstrument as pr��ided i� S�ctian � �. �. Lender's Priar Cansent. Barr�wer shall nnt, except after notice to Lender and w�th Lender's prior written cor�s�nt, e�ther partition or subdi�ide the Pro�erty or cans�nt ta: �'r� the aband�nment o� terminati�n af the PUD, except for abandonment or termination requ�red by law �n the case of substantial destruction by fire ❑r other casualty or in the case of a taking �ay cvndemnation or eminent damain; �ii} any amendment to any pro�ision �f the "Constituent Dacuments" if the pra�ision is for the �xpress benefit flf Lender; �iii} termination of professi�na[ management and assumptivn of �elf-management af the 4wr�ers Associat�vn; flr �� any act�vn which would ha�e th� effect vf �ender�ng t�e public �iability insurance co�erage maintained by the �wners Assoc�ati�n unacceptab�e to Lender. F, Remedies, If Borr�wer dves not pay PU D dues and ass�ssments when due, then Lender may pay them. Any amaunts disbursed by Lender under this paragraph � shafl became additivnal debt of Barrower secured by the Secu��ty lnstrument. Un�ess B�r�awer and Len�er agree to oth�r terms of payment, these amounts sha�� bear inte�est fr�m the date of disbursement at the Nate rate and sha�� be payable, with int�rest, upan natice frorr� Lender t� B�rrvwer request�ng payment. illIULT�STAT� PUQ R1DER - Single Fami�y - Fannie MaelFredd�e N1 c UNIFDR�VI �NSTRLJNIENT VN�P�-7R ��8'1 �� Page � of 3 lnit�a��; � �� Form 3�5D �l�'t