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2� 15�81 �9 8, Pr�perty Insuran�e. S� l�n� as the �wners Ass�c�ation maintains, with a genera��y accepted insurance carrier, a T'maste�" �r "blan ket" �oiicy insuring the Pr�perty which is sat�sfactory to Lender and which pra�ides ��surance co�erage in the amounts 4�ncluding dedu�ti��e �e�els�, for the periods, and against �oss by fire, hazards �nc�uded within th� term "e�ctended co�erage," and any other haza�ds, �nc�uding, but nvt limite� to, earthquakes and floods, for which Lender requires insuran�e, then, �i} Lender wa��es the pro�isi�r� �n S�ctian 3 for the Peri�dic Payment tv Lende� of the yea�-�y premium insta��ments for p�operty insurance on the Prop�rty; and ��} Bo�-row�r's ob�igation un�er Sectivn 5 ta maintain property insuran�e co�erage an the Prope�ty is deemed satisfied ta the e�ctent t�at the r�quired c��erage is pro�ided by th� �wners Assvc�ati�n po�icy. VVhat Lend�r r�quires as a cvndit�vn of this wai�er can �hang� dur�ng the term of the loan. �3nrrawer shall g�� Lende� prvmpt natice vf any lapse �n required p�op�rty insurance cv�erage pr��ided by the master vr blanket policy, In the e�ent vf a distribut�an vf prvperty insurance proceeds in �ieu of rest�rat�an ar repa�r fa�lowing a Iass t� the Prap�rty, or t� �omm�n areas and fac��ties of the �'UD, any praceeds payable ta Barrower are herel�y assigned and sha�! be paid to Lender. Len�er shail apply the pr�ce�ds t� th� sums s�cured by the Secu�ity �nstrurr�ent, whethe�- ❑r nat then du�, with the excess, �f any, paid t� 8�rrawer, C. Puh�ic Lia�ility tnsurance. �3o�rower shall take su�h act�ons as may be reasvnable to insure �i�a� ��e �wners Assacia�ian maintains a �u�ii� i�ab��i�y i��ur�r��e poii�y a�cep�a�le in fo�m, amount, and extent �f �o�erage to Lend�r. D. Candemnation. The prviceeds of any award or claim for damages, direct or cansequentia�, payab�e ta Borrower in connect�on w�th any candemnativn or �the� taking af a�� ar any part af the Pr�perty �r the commvn are�s and facilities �f the PUD, or for any . con��yance in lieu vf condemnat�vn, are here�y ass�gned and shall be paid to Lender. Such proc��ds sha�� be app��ed by Lender to the sums s�cured by the Security �nstrument as pro��d�d �n Section � �. �, LenderTs Privr �onsent. Borr�wsr shal� not, exc�pt afte� n�tice to Lender and with Lender's prior wr�tten c�ns�nt, either partition or subd��id� the Praperty or consent ta; �i} the abandonment ar terminatian �f the PUD, exc�pt fo� abandanment or terminatian requ�r�d by law in the case of substantia! d�struction by fire ar �th�r casualty or in the case of a taking by condemnation or em�nent domain; t�i} any amendment to any pra�ision of the "C�nstituent C3ocuments" if the pro�is�on �s for the �xpress benefit of Lender; 4iii� ternn�nation of prafessiana� management and assumption of s�lf-management of the �wners Assvciatir�n; �r ��} any action which would ha�e the eff�ct of renderin� the pub�ic (iability �nsu�-ance c��erage maintained by t�e Uwners Association unacceptable t� Lender, F. Remedies. �f B�rrower does nat pay PUD dues and assessments when due, then Lender may pay them. Any amounts disbursed by Lender under this parag�aph F sha�� becnme addit�anaf debt of Barrawer secured by the Security �nstrument. Ur�less Borrower an� Lende� agree to ather te�ms �f payment, these amounts shall bear interest from the date of disbursement at the Note rate and shall be payable, with interest, upon notice from L�nder tn Bor�-�wer req uesti ng payment. MULT�STAT� PUD R�DER - Single Fan��y - Fanni� MaelFreddi� Mac �RM INSTF�UMENT VII�P��7R ��8� 1} Page Z af 3 I nitia�s: Form 3154 7 l�7