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hazard insurance on the Property, and (ii) Borrower's obligation under paragraph 4 of this Security <br />Instrument to maintain hazard insurance coverage on the Property is deemed satisfied to the extent that <br />the required coverage is provided by the Owners Association policy. Borrower shall give Lender prompt <br />notice of any lapse in required hazard insurance coverage and of any loss occurring from a hazard. In the <br />event of a distribution of hazard insurance proceeds in lieu of restoration or repair following a Toss to the <br />Property or to common areas and facilities of the PUD, any proceeds payable to Borrower are hereby <br />assigned and shall be paid to Lender for application to the sums secured by this Security Instrument, with <br />any excess paid to the entity legally entitled thereto. <br />B. Borrower promises to pay all dues and assessments imposed pursuant to the legal instruments <br />creating and governing the PUD. <br />C. If Borrower does not pay PUD dues and assessments when due, then Lender may pay them. <br />Any amounts disbursed by Lender under this paragraph C shall become additional debt of Borrower <br />secured by the Security Instrument. Unless Borrower and Lender agree to Other terms of payment, these <br />amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with <br />interest, upon notice from Lender to Borrower requesting payment. <br />BY SIGNING BELOW, Borrower accepts and agrees to the terms and provisions contained in this <br />PUD Rider. <br />• <br />a n elel e N Vinson <br />(Seal) <br />- Borrower <br />(Seal) (Seal) <br />- Borrower - Borrower <br />Loan Origination Company & NMLS Id: Charter West National Bank - 46077 <br />Loan Originator & NMLS Id.: Amy L Otto - 491143 <br />MULTISTATE - FHA Planned Unit Development Rider <br />Form 27623 1/96 <br />Laser Forms Inc. (800) 446 -3555 <br />LFI #FHA27623 10/00 Page 2 of 2 <br />201505400 <br />