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2� 1 ��544� <br /> B. Pr�perty Insurance. Sa �flng as the �wners Association ma�ntains, with a gen�rally <br /> accepted insurance carrie�, a "master'T �r "�lanl��t" pvl'r�y insuring the Property which is <br /> satisfactary t� Lender and which pro��des insurance c��era�e �n th� amvunts 4inc�ud�ng <br /> deductible le�e�s�, for the periods, and against I�ss by fire, haza�ds included within t�e term <br /> "extended co�erage," and any other hazards, �nc�uding, but nat �imited to, earthquakes and <br /> flvr�ds, fn� wh�ch Lender requires insurance, then: �i} Lender wai�es the pr��ision in Sectian 3 <br /> f�r the Perio�lic Payment to Lender vf the year�y premium insta�lments for property insurance <br /> vn the Property; and tii� Barrower's o�ligati�n under SeCtion 5 to mainta�n property insurance <br /> co�erage nn the Property is deemed satisfi�d to the extent that the required cv�erage is <br /> pro�id�d by the �wners Assaciatinn po�icy. <br /> Vllhat Lender requires as a condition of this wai�er can �hange during the t�rm flf th� <br /> �oan. <br /> Borrvwe� shall gi�e Lender prompt notice of any lapse �n requ�red property insuran�e <br /> co�erage pro�ided by the master �r blanket palicy. <br /> ln the e�ent af a distr��utian of property �nsuranee proceeds in li�u of resto�ation or <br /> repair fo��owing a loss tv the Property, ar to cvmmvn areas and fac��ities af t�e PUD, any <br /> pro���ds payab�e to Borrower are hereby ass�gned and shall be paid to Lender. Lender shall <br /> apply th� praceeds tv the sums s�cure� by the Security �nstrument, whether vr n�t then due, <br /> with the excess, if any, paid to Barrawer. <br /> C. Public Liability insuran��. Barrow�r sha�l take such acti�ns as may b� reasonaal� to <br /> insure that the �wners Assoc�ation ma�ntains a pub��c liabi�ity insuranGe policy acceptable in <br /> fo�m, amount, an� extent of coverage to Lender. <br /> D, Gondemnat�on. T�e pr�ceeds of any award or claim for damag�s, direct or <br /> cansequential, payab�e tv Bo�rower in connection with any condemnation ar ather taking of a�l <br /> o� any part vfi the Property o� the comman areas and faci��t�es af the PU D, or f�r any <br /> con�eyance in lieu �f candemnatian, are her��y ass�gned and sha�� be paid ta �ender. Such <br /> pra�eeds sha�� be app�ied by Lender to the sums secured by the Secu�ity I nstrument as <br /> pr���ded in S�cti�n � �. <br /> E. Lender's P��vr Cans�nt. Barrowe� shal[ nat, ex�ept after n�t�ce t� Lende� and witi� <br /> � Lender's prior wr�tten cansent, either partiti�n ar subdi��de th� Prop�rty ar c�nsent tc�: �i} the <br /> abandonment or termination of the PUD, e�cept for aband�nment or term�nation requir�d by <br /> I�w ir� t�� ���� �f �u��t��ti�l �����u�`���� �y ���� �� ���,�� ���u���y �� �� ��� ���� �� � ������ <br /> by c�ndemnativn or eminent domain; tii} any amendment to any pro�ision �f the "�onstituent <br /> Dt�cuments" �f the pr��ision is far the express benefit of Lender; �iii} termination af <br /> pr�fess�onal manag�ment and assumptian nf s�lf-management of the 4wners Assvciati�n; or <br /> 4i�3 any action which wauld ha�e the effect �f rendering the pub�ic �iahil�ty �nsurance ca�erage <br /> maintained by the �wners Assaciation unacceptab�� tfl Lender. <br /> F. Remedies. �f Barrower does nvt pay PUD dues an� assessments when due, then <br /> Lende� may pay them, Any amounts disbu�sed by Lender unde� this paragraph F sha�� be�vme <br /> addit�onal debt of Borrower secured by the 5ecurity �nstrument. LJnless Borrower and Lender <br /> a�ree to other terms of payment, thes� am�unts sha�� bea� int�rest frarn the date �f <br /> di�burs�ment at the Nvte rate and shall be payabl�, wit� inter�st, up�n notice from Lender to <br />,; Borrower �equesting payment. <br /> N�ULTISTATE PUD RIDER - Single Fami�y - Fannie �aelFredd�e N� FC]RM INSTRUMENT <br /> VMP�-7R 4�8� 1} Page � af 3 I nitials: vrm 3�5� �ID� <br />